Treat Your Suppliers as Friends

Want to know the challenges bedeviling NATO as it seeks to arm Ukraine? This week’s guest is as good a source as any, given how much the combination of Covid-19 and the war in Ukraine have put the focus on procurement. An area normally the “corporate equivalent of being sent to Siberia” (to quote this book) has now moved front-and-center. Triplat and the other three colleagues at the Boston Consulting Group (BCG) who collaborated on Profit from the Source emphasize the need not just to save costs, but for companies and their suppliers to join forces to optimize the innovation process together. Right now the average CEO spends no more than about 5% of his or her time on the procurement process. Since over 50% of a company’s expenditures involve suppliers, clearly a realignment of priorities is overdue.

Released today: episode #111 of my podcast series “Dan Hill’s EQ Spotlight,” featuring Alenka Triplat Hoffman discussing Profit from the Source: Transforming Your Business by Putting Suppliers at the Core. Click on to get to the new episode.

Images of author Alenka Triplat and her new book titled "Profit From the Source: Transforming Your Business By Putting Suppliers at the Core" for Dan Hill's EQ Spotlight Podcast, episode number 111, titled "Treat Your Suppliers as Friends". Available on the "NewBooks Network" Podcast.

Alenka Triplat is a partner and managing director at the Boston Consulting Group, based in BCG’s Vienna office. She advises global leaders in the high-tech, defense, and industrial goods sectors.

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Dan Hill, PhD, is the president of Sensory Logic, Inc. His latest books, available on Amazon are Emotionomics 2.0: The Emotional Dynamics Underlying Key Business Goals and Blah, Blah, Blah: A Snarky Guide to Office Lingo.