We live in a new world - a world in which companies can move beyond traditional supply chain management and leverage the power of social and business networks and advanced analytics to enhance collaboration, gain new insights, and drive new levels of productivity. Tim Minahan, Senior Vice President of Network Strategy for Ariba, an SAP Company, helped to create this world, providing the vision for a new, more connected and collaborative way of operating and the leadership to make it a reality. And for this, he has been named to the 2013 Supply & Demand Chain Executive Pros to Know.
“The number of issues that can present themselves in today’s global business environment truly run the gamut—from a dysfunctional product component found within a manufacturer’s tier three level of the supply chain to clarifying a business’s procurement strategy for reduced costs,” said Barry Hochfelder, Editor, Supply & Demand Chain Executive. “The ‘Pros to Know’ awards are designed to provide recognition for the efforts that leading executives are making to overcome these challenges by improving business functionality and in turn, progressing the global supply chain.”
Over the past few decades, companies have spent billions of dollars in personnel, reengineering, and systems to improve their internal process and information flows. They’ve made great strides in sharing information and collaborating internally between departments and employees. But these islands of efficiency remain disconnected from the outside world and often fall down where it matters most – when buying, selling, or exchanging cash with other businesses.
Industry research finds that, despite the advances business applications have made within the four-walls of the enterprise, more than 80% of POs, Invoices, and other business-to-business transactions still take place offline - involving lots of paper, people and inefficiency. By some estimates, this inefficiency costs business hundreds of billions of dollars each year in missed sales opportunities, higher operating and supply chain costs, and slower cash flow cycles. And that’s a huge problem.