“The decision abyss is where the supply chain planning organization does not have visibility and a tool to collaborate with direct material sourcing. It hampers a company’s ability to make more rapid decisions, more informed decisions, and actually better decisions when they are buying direct materials for their manufacturing ops.” —Keith Hartley, CEO, LevaData
Supply chain and procurement professionals are used to supporting informed decision making, but the last few years have been far from ordinary. Decisions are being made more frequently with less time to prepare, and each one has a far greater impact on business continuity and supplier relationships.
This is even more true for direct materials. Sophisticated supply chain models and mature procurement strategy have been put to the test – each time the team must cross the ‘decision abyss’ could make the difference between competitive advantage and operational disruption.
Keith Hartley is the CEO of LevaData and Lance Younger is the CEO of ProcureTech. They spoke at a live event co-created by Art of Procurement and LevaData earlier this year: Navigating the Decision Abyss: Managing Direct Spend in Chaotic Times.
In this session, moderated by Philip Ideson, they address:
- What the decision abyss is and what it means to procurement, supply chain professionals, and category managers in today’s uncertain economic conditions
- The level of urgency being experienced by today’s corporate leaders, and how each decision making team is converting that urgency into action
- How LevaData is investigating the decision abyss to learn more about its causes and effects
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