Mid-West's Top Sourcing and Supply Chain Executives to Convene the 8th Quarterly Best Practices Xchange (BPX) Symposium in Chicago
The Best Practices Xchange (www. BestPracticesXchange. com) is scheduled to meet on Friday, August 24, 2007 for a one day summit in Chicago which will be attended by a "Who's Who" of the Midwest's top Strategic Sourcing, Procurement, and Supply Chain Executives. The upcoming meeting will focus on the challenges posed by Low-Cost Country Sourcing (LCCS).
Oak Brook, IL (PRWEB) July 27, 2007
The Best Practices Xchange (www. BestPracticesXchange. com) is scheduled to meet on Friday, August 24, 2007 for a one day summit in Chicago which will be attended by a "Who's Who" of the Midwest's top Strategic Sourcing, Procurement, and Supply Chain Executives. The upcoming meeting will focus on the challenges posed by Low-Cost Country Sourcing (LCCS).
Acting on growing competitive pressures, many companies have developed supplier relationships and relocated manufacturing operations or services to Low-Cost Countries, lured primarily by the low labor costs and revenue potential. While increasing procurement expenditures in those markets have yielded significant savings, many companies are finding that they face unexpected risks and major supply chain challenges which may offset the benefits.
Establishing a supplier relationship management (SRM) program that allows you to apply effective risk management principles and analyzing total costs is instrumental in building a successful LCCS operation or relationship with an LCCS supplier. In addition, world class organizations are increasingly finding the need to build the internal competency to find and explore LCCS opportunities. Today, the greatest potential may be in India or China, while tomorrow it may be Russia or other eastern European countries. Successful organizations recognize this and are developing professionals that have the business savvy to identify and capitalize on arbitrage opportunities globally.
Randy Ellis, Chief Procurement Officer and CIO of FMC Technologies, will lead a discussion on his organizations' innovative approach to Low-Cost Country Sourcing. FMC has clearly embraced the globalization of their supply chain and has been taking a very pro-active approach to making sure that they derive maximum value from the globalization.
In his session, in addition to other topics, Mr. Ellis will cover issues including:
The competencies needed to develop a strategic approach to LCCS Challenges of managing suppliers Risk identification and mitigation Internal change management issues Development of a sourcing process to manage LCCS
Additionally, Craig Meadors, VP Enterprise Operations for CNA Insurance, will discuss CNA's approach to incorporating Low-Cost Country Sourcing (LCCS) in their value chain. Similar to other organizations from the services sector, CNA has utilized this approach for the traditional areas such as Information Technology. CNA is now taking advantage of the competencies that they developed in IT sourcing and has started expanding their footprint in LCCS in some non-traditional areas. Craig's session will have a particular focus on the significant internal change management challenges that must be overcome in deploying a successful LCCS strategy.
Dalip Raheja, founder, President, and CEO of The Mpower Group (TMG) will present the results of TMG's latest research on Low-Cost Country Sourcing. The discussion will focus on challenges most organizations face as they try and incorporate LCCS strategies into their overall Sourcing and Supply Chain programs. In addition to presenting the results of the BPX-members-only diagnostic, particular attention will be placed on: Ensuring internal alignment, decision making processes, developing a core competency around LCCS, risk identification and mitigation strategies, and offshore Supplier Relationship Management.
About BPX:
The Best Practice Xchange (BPX) is a by-invitation-only, peer-to-peer group with a charter to provide thought leadership, advanced solutions, and networking opportunities to group members. The group meets four times a year and the meetings are facilitated by the globally recognized and award-winning Oak Brook, IL based Sourcing, Procurement, and Supply Chain consultancy - The Mpower Group.
BPX addresses major Global Strategic Sourcing, Procurement, and Supply Chain Management challenges such as: Building world-class Sourcing and Supply Chain Management Organizations, Supplier Relationship Management (SRM) and Governance, Outcome Based Process Improvement, Integration of 6 Sigma and Strategic Sourcing, and Managing IT Outsourcing Arrangements.
As is customary with every BPX meeting, one-half of the very nominal membership dues are allocated to support a charity designated by the membership.
A short list of the membership and attendees of the 8th Best Practices Xchange Symposium includes the following companies:
VP Corporate Purchasing, Volvo Construction Equipment
Director, Global Sourcing, Navistar International
VP Procurement and Purchasing, Sears Holding Company
SVP & Chief Supply Office, Exelon
Director of National Purchasing, Discover Financial Services
VP Supply Chain & Administrative Services, WE Energies
VP Administrative Services - Purchasing and Distribution, State Farm Insurance
Director of Procurement, Sidley Austin LLP
Senior Director - Global Technology Sourcing, McDonald's Corporation
CIO & Chief Procurement Officer, FMC Technologies
VP Supply Operations, Exelon
VP & Chief Procurement Officer, Health Care Services Corporation
AVP Enterprise Procurement Group, CNA Insurance
VP Supply Services, Ameren
Director Supply Chain, Invensys Corp.
VP Purchasing, John Deere
About The Mpower Group:
The Mpower Group ("TMG"), a certified minority supplier, assists Fortune 500 organizations globally, solving complex issues related to their supply chain and strategic sourcing operations including outsourcing and off shoring. TMG emphasizes world-class business practices related to strategy, process, and technology that truly drive superior financial results for their clients. Dalip Raheja, the firm's President and CEO, is nationally recognized for his thought-leadership and advanced strategic concepts in the areas of Strategic Sourcing and Supply Chain Management.
Contact Information:
Pete Iacullo
Director of Sales and Marketing
The Mpower Group
2021 Midwest Road, Suite 105
Oak Brook, IL 60523
1-888-5-Mpower (toll-free USA)
(+001) 630.268.8963 (International)
Www. TheMpowerGroup. com
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