“If a company cannot purchase enough materials or parts to make a product, they can’t generate revenue. So in its simplest form, the direct material sourcing profession has a profound impact on a manufacturer’s ability to generate profit.”
Like most other companies, manufacturing companies have a problem with data. Many of them don’t centralize much of the data they produce through regular transactions, and even when they do, they struggle to contextualize that information so that it becomes actionable. When procurement professionals in these companies sit down with engineers and supply chain planners, they need to be able to harness that data as the ‘common language’ for value.
Keith Hartley is the CEO of LevaData – and a passionate surfer, a brand new combination for the Art of Procurement podcast. Keith joined the LevaData team in 2022, but he isn’t new to procurement – and he has deep experience helping manufacturing companies drive better decision making through the use of data.
In this episode, Philip Ideson and Keith discussed:
- The current state of direct material sourcing
- How procurement and engineering teams can foster greater collaboration to everyone’s benefit
- How leading companies are using increased data visibility to differentiate their decision making – even in chaotic times
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