Costas Xyloyiannis
DIGITAL SUPPLY CHAINS
To truly transform itself and the organisation , procurement must have a solid foundation of supplier experience and data from which to build . The good news is that it ’ s possible to evolve a harmful cycle into a helpful one . Better still , a weapon exists with which to make this change . The way forward ? Be armed with the strongest possible record of master data . Then , stop , reverse and fuel the cycle on a positive course .
Halting the cycle starts with centrally managing all supplier master data while also ensuring that this asset can be accessed across all solutions . But this data also needs to be clean . Consider the analogy of cleansing the ocean : in a perfect world , new pollution that enters the environment faster than old contamination can be removed , is cut off at the source . Similarly , to manage
Costas Xyloyiannis
The heart of digital Procurement is a golden record “ How , then , can the supplier experience data cycle be reversed ? Too often , digital transformation is interpreted as ‘ technology ’ transformation – the assumed path being to spend millions of dollars and half a decade implementing a P2P suite , or to build a bestof-breed ecosystem . While tools are an integral part of any digital plan , however , they are not the foundation .
Costas Xyloyiannis , CEO of HICX and supplier experience expert , believes that CPOs ought to rethink their digitalisation approaches . He shares three core principles to turn up the heat .
HICX will soon be releasing its ‘ Voice of the Supplier ’ survey . Over 500 suppliers were asked about their experience serving some of the world ’ s biggest organisations .
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