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Global executives will need a better understanding of Chinese competitors, suppliers, and business partners no matter where they fall along the ownership spectrum.

Despite the best intentions, attempts to collaborate-with partners, suppliers, customers, and even competitors-sometimes fail. The reason? Successful collaboration is difficult and the pitfalls aren’t always visible.

The emerging practice of “ spend management” is giving companies a clearer view of expenditures - and greater ability to cut costs, manage suppliers, and reduce risk.

Even when faced with powerful customers who pressure them on price, industrial suppliers can still profit by aligning with organizations that value joint initiatives over short-term gains.

Big improvements in the supply chain’s quality; cost; delivery and customer service do not happen by chance. They are the result of focused and collaborative efforts involving the entire organization and its key partners so that the process becomes a way of life.

Best-practice companies may apply spend management tactics differently, but they achieve the same results: greater control of spending that has led to significant savings and greater efficiency.

Natural calamities and similar upheavals occur unexpectedly around the globe; disrupting the flow of parts and goods. To minimize the impact of such crises; ensure that your supply chain is as fast; flexible; and responsive as possible.

True supply chain excellence will only come from making a digital business transformation. It's a transformation that exploits all that technology has to offer, facilitates supply chain collaboration, and leads to new levels of operational excellence.

To get the most out of a customer relationship management system, your financial systems need to adapt. That requires changing from product-based to customer-based financial reporting.

The use of external sources for help with innovation is becoming more and more prevalent. Rather than take a transactional approach, your company is better off developing a sourcing blueprint to obtain the consistent results you need.

 
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