| A significant opportunity in supply chain management | | | | After the sourcing process has completed and the |
| is shown in current studies in the Supply Chain | | | | materials have entered the supply chain other |
| Management field which indicate that a 1 percent | | | | technologies can be utilized. Technologies such as |
| reduction in the cost of purchased materials is | | | | RFID (Radio Frequency Identification Systems) that |
| equivalent to a 12 to 18 percent rise in sales growth. | | | | provide real-time defective product data, can |
| This presents an enormous opportunity for | | | | improve item tracking and aids supplier managed |
| companies that can take advantage of this cost | | | | inventory processes. Still other technologies such as |
| reduction in this time of economic stagnation. | | | | PLM (Product Life Cycle Management) can manipulate |
| Companies must find a way to improve their bottom | | | | the relationship between the product life cycle and |
| line when their sales revenues are either flat or | | | | cost reduction opportunities. |
| declining. | | | | Expert recruitment staff are aware of these |
| There are several reasons why this kind of reduction | | | | technologies and the impact they may have on a |
| is possible, among them are the use of new and | | | | company's ability to reduce the overall cost of the |
| better technology, more companies from which to | | | | supply chain operations. They delve into the |
| source (globalization) and increasingly sophisticated | | | | company's current and planned use of technologies |
| approaches to managing the supply management | | | | when approaching a search assignment for the |
| function (GPOs and outsourced Procurement Service | | | | company. This then becomes part of the selection |
| Providers) | | | | criteria used for the search. |
| As mentioned, one of the factors enabling cost | | | | Executive search firms that have this focus can be |
| reduction is the maturing and scaling of procurement | | | | an important partner in the search for those |
| technology which can help curtail rogue spending while | | | | individuals that can bring this opportunity to fruition |
| allowing companies to work more efficiently with a | | | | and allow companies to gain a competitive advantage |
| wider range of suppliers. These technologies can | | | | over their competition. |
| simplify the sourcing process and help actively | | | | ASG can be an important partner in the search for |
| manage total sourcing costs. Included in these newer | | | | those individuals that can bring this opportunity to |
| technologies is e-Sourcing, this is becoming more | | | | fruition and allow companies to gain a competitive |
| sophisticated and popular and in fact is becoming | | | | advantage over their competition. |
| more integral to e-procurement initiatives. | | | | |