To survive times of crisis and thrive over the long term, firms will need to shift their strategic thinking from just-in-time to just-in-case.
As companies focus less on efficiency and more on resilience, procurement becomes central to strategy. That’s because it is uniquely positioned to orchestrate long-term-value-creating systems that can accommodate incompatible value holders, withstand exogenous shocks, share loads, and grow dynamically.
There is an important lesson to be learned here: when resilience is your priority, procurement done right can be your strategy.
Rafael Ramirez, Professor of Practice, Saïd Business School & Green-Templeton College
Steve Churchhouse, Senior Associate, NormannPartners
Ciaran McGinley, Senior Associate, NormannPartners
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