{"id":11185,"date":"2021-04-07T02:31:40","date_gmt":"2021-04-07T06:31:40","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/?page_id=11185"},"modified":"2023-08-02T10:10:19","modified_gmt":"2023-08-02T14:10:19","slug":"powerful-synergies-the-supply-chain-sharing-economy","status":"publish","type":"page","link":"https:\/\/www.certitrek.com\/nlpa\/news\/purchasing-articles\/powerful-synergies-the-supply-chain-sharing-economy\/","title":{"rendered":"Powerful Synergies the Supply Chain Sharing Economy"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\">\n<div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 )\">\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\">\n<div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\">\n<div class=\"fusion-title title fusion-title-1 fusion-sep-none fusion-title-text fusion-title-size-three\">\n<h3 class=\"title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;line-height:1.3\">Powerful Synergies the Supply Chain Sharing Economy<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\">\n<div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\">\n<div class=\"fusion-text fusion-text-1\">\n<p>PurchTips edition #410<\/p>\n<\/div>\n<div class=\"fusion-title title fusion-title-2 fusion-sep-none fusion-title-text fusion-title-size-four\">\n<h4 class=\"title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;line-height:1.36\">Learn How to navigate the Powerful Synergies the Supply Chain Sharing Economy<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-flex-column\">\n<div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\">\n<div class=\"fusion-text fusion-text-2\">\n<p>The 21<sup>st<\/sup>\u00a0Century Supply Chain is dynamic, challenging, unpredictable and loaded with immense opportunities. We are currently amid the rise of a powerful phenomenon, the Sharing Economy. This concept is underpinned by collaborating, co-operating and negotiating the core inputs, methods and processes required to realize specific outcomes, products, or services. In many cases we see the rise of many companies working together to design and manufacture products, where\u00a0<em>each company focuses on parts of the final product which leverages their expertise and core competencies<\/em>. There are many challenges that stem from co-ordination of these activities, but the product and service excellence that can be realized is enormous.<\/p>\n<p><strong>The Sharing Economy can enhance\u00a0Supply Chain Synergies\u00a0at:<\/strong><\/p>\n<p><strong>1.) The Component Level<\/strong>\u00a0\u2013<\/p>\n<ul>\n<li>Technology<\/li>\n<li>People<\/li>\n<li>Process<\/li>\n<li>Inputs and Raw Materials<\/li>\n<li>Metrics<\/li>\n<li>Physical Plant<\/li>\n<\/ul>\n<p><strong>2.) The Functional Level<\/strong>\u00a0\u2013<\/p>\n<ul>\n<li>The Procurement Function<\/li>\n<li>Manufacturing and Conversion Function<\/li>\n<li>Logistics Functions.<\/li>\n<\/ul>\n<p><strong>3.) The Systemic Level \u2013<\/strong><\/p>\n<p>The integration and interaction of Sales, Marketing, Human Resources, Finance, Facilities Maintenance, Information Technology with the Supply Chain Functions<\/p>\n<p>Savvy Executives would leverage Sharing Economy Dynamics by defining, measuring, and examining their organizations at the Component, Functional and Systemic levels. The key is to identify areas that they are weak and struggling in. There must be\u00a0<strong><em>an understanding of the Degree of Risk that the poor performing areas<\/em><\/strong>\u00a0of their organizations pose, relative to customer requirements and corporate mandates.<\/p>\n<p>The understanding of\u00a0<em>Degree of Risk that the poor performing areas<\/em>\u00a0of their organizations pose, is a vital pre-requisite for decisions around outsourcing and partnering of high-risk elements. The goal for executives would be to assure that their businesses focus on core competencies and either dramatically improve high-risk areas, outsource or partner with other organizations to close performance gaps. Special care must be taken to assure that all decisions pose a strong ROI.<\/p>\n<p>The modern customer pushes the triple constraints of Time, Quality and Cost to the limit, this adds a level of complexity on ROI decisions.<\/p>\n<p>Imagine a corporation realizes that its procurement and logistics functions are very weak. The company has strong manufacturing and supporting functions and partners its suppliers to strengthen its\u00a0<strong>procurement function<\/strong>. Another decision was made to outsource the logistics function and to help a critical supplier with its manufacturing function. Now imagine the synergy across this supply chain.<\/p>\n<p>Other synergies can be derived from sharing information, technology, combining buying power, amongst partners. Imagine the partners \u201cloaning\u201d their top talent to other partners to assist in process improvement and research and development initiatives. The Sharing Economy provides extraordinary benefits and may become the new way of doing business.<\/p>\n<p><strong>NLPA Library:<\/strong>\u00a0Looking for authoritative procurement templates, tools, webinars, and more? Stop trying to create resources\u00a0from scratch and start taking advantage\u00a0of having exactly what you need right at your fingertips in the NLPA Library.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\">\n<div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 )\">\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_1_2 1_2 fusion-flex-column\">\n<div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\">\n<div class=\"fusion-title title fusion-title-3 fusion-sep-none fusion-title-center fusion-title-text fusion-title-size-five\">\n<h5 class=\"title-heading-center fusion-responsive-typography-calculated\" style=\"margin:0;line-height:1.4\">Want A More Rewarding Procurement Career?<\/h5>\n<\/div>\n<div class=\"fusion-image-element \"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\" style=\"border:2px solid #f6f6f6\"><img decoding=\"async\" width=\"500\" height=\"259\" title=\"career\" src=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career.jpg\" data-orig-src=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career.jpg\" alt class=\"lazyload img-responsive wp-image-11108\" data-srcset=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career-200x104.jpg 200w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career-400x207.jpg 400w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career.jpg 500w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 1024px) 100vw, (max-width: 640px) 100vw, 500px\" srcset=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career-200x104.jpg 200w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career-300x155.jpg 300w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career-400x207.jpg 400w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/career.jpg 500w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/span><\/div>\n<div class=\"fusion-text fusion-text-3\">\n<p>Are you tired of not getting enough opportunities, respect, and money out of your procurement career? Nothing will change unless you take action towards becoming a world-class procurement professional. Work your way up NLPA\u2019s CPO Suite Programs, an enhanced version of our SPSM certifications and bring the most modern procurement practices into your organization and achieve your career potential.<\/p>\n<p>Download our <strong>NLPA Course Catalog<\/strong> for a comprehensive list of the CPO Certification Programs and their corresponding modules per level.<\/p>\n<\/div>\n<div style=\"text-align:center\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-1 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"#\" data-toggle=\"modal\" data-target=\".fusion-modal.course-catalog\" rel=\"noopener\"><span class=\"fusion-button-text\">Download<\/span><\/a><\/div>\n<div class=\"fusion-modal modal fade modal-1 course-catalog\" role=\"dialog\" aria-labelledby=\"modal-heading-1\" aria-hidden=\"true\" id=\"salary_report\">\n<div class=\"modal-dialog modal-lg\" role=\"document\">\n<div class=\"modal-content 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fusion-flex-column\">\n<div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\">\n<div class=\"fusion-title title fusion-title-4 fusion-sep-none fusion-title-center fusion-title-text fusion-title-size-five\">\n<h5 class=\"title-heading-center fusion-responsive-typography-calculated\" style=\"margin:0;line-height:1.4\">Need Better Performance From Your Procurement Team?<\/h5>\n<\/div>\n<div class=\"fusion-image-element \" style=\"text-align:center\"><span class=\" fusion-imageframe imageframe-none imageframe-2 hover-type-none\" style=\"border:2px solid #f6f6f6\"><img decoding=\"async\" width=\"500\" height=\"259\" title=\"epm-pic\" src=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic.jpg\" data-orig-src=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic.jpg\" alt class=\"lazyload img-responsive wp-image-11069\" data-srcset=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic-200x104.jpg 200w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic-400x207.jpg 400w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic.jpg 500w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 1024px) 100vw, (max-width: 640px) 100vw, 500px\" srcset=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic-200x104.jpg 200w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic-300x155.jpg 300w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic-400x207.jpg 400w, https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2021\/04\/epm-pic.jpg 500w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/span><\/div>\n<div class=\"fusion-text fusion-text-4\">\n<p>Are you a procurement leader whose team isn\u2019t achieving the results you know are possible?<br \/>\nMaybe it\u2019s not enough cost savings. Or frustrating performance from the supply base. Or dissatisfied internal customers.<br \/>\nYou need a performance improvement plan that\u2019s easy to implement and quick to produce results. The NLPA can help.<\/p>\n<p>Download our whitepaper \u201cThe Procurement Leader\u2019s Guide To A More Successful Team.\u201dYou\u2019ll learn the 7 steps for transforming your staff into a results-producing, world-class procurement team.<\/p>\n<\/div>\n<div style=\"text-align:center\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-2 fusion-button-default-span fusion-button-default-type\" target=\"_self\" rel=\"noopener\"><span class=\"fusion-button-text\">Download<\/span><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3 fusion-flex-container fusion-parallax-none nonhundred-percent-fullwidth non-hundred-percent-height-scrolling lazyload\" data-bg=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/10\/join-footer.jpg\" data-bg-gradient=\"linear-gradient(180deg, rgba(0,0,0,0.74) 0%,rgba(0,0,0,0.74) 100%)\">\n<div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 )\">\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion_builder_column_2_3 2_3 fusion-flex-column\">\n<div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\">\n<div class=\"fusion-title title fusion-title-5 fusion-sep-none fusion-title-text fusion-title-size-three\">\n<h3 class=\"title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;line-height:1.3\">Want to get more procurement articles by email?<\/h3>\n<\/div>\n<div class=\"fusion-text fusion-text-5\">\n<p>Members of the NLPA get great articles just like this by email every month. As a member, you will also get access to:<\/p>\n<ul>\n<li>The Procurement Training &amp; Certification Starter Kit<\/li>\n<li>The latest Purchasing &amp; Supply Management Salaries Report<\/li>\n<li>Leading-Edge Supply Management\u2122 magazine<\/li>\n<li>Live webinars<\/li>\n<li>Access of Purchasing Community<\/li>\n<li>Access of NLPA BLogs<\/li>\n<li>Access of Library (Webinar Replays, Procurement Templates &amp; More)<\/li>\n<li>Access to All 20 Express Courses worth $380.00<\/li>\n<li>And more!<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_1_3 1_3 fusion-flex-column\">\n<div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\">\n<div class=\"fusion-title title fusion-title-6 fusion-sep-none fusion-title-center fusion-title-text fusion-title-size-four\">\n<h4 class=\"title-heading-center fusion-responsive-typography-calculated\" style=\"margin:0;line-height:1.36\">Over 196,482 purchasing professionals have joined the Next Level Purchasing Association!\u00a0So, what are you waiting for?<\/h4>\n<\/div>\n<div class=\"fusion-text fusion-text-6\">\n<p style=\"text-align: center\">Sign up today and enjoy access all of the benefits that come with the NLPA Premium membership.<\/p>\n<\/div>\n<div style=\"text-align:center\"><a class=\"fusion-button button-flat fusion-button-default-size button-default fusion-button-default button-3 fusion-button-default-span fusion-button-default-type\" target=\"_self\" href=\"https:\/\/www.mcssl.com\/SecureCart\/ViewCart.aspx?mid=C9984911-58E0-475B-92F3-F295C53273E7&amp;sctoken=beb724cbf8ef4c9685bd79325366556f&amp;bhjs=1&amp;bhqs=1\" rel=\"noopener\"><span class=\"fusion-button-text\">Sign Up<\/span><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Powerful Synergies the Supply Chain Sharing Economy PurchTips edition #410 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"parent":7514,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"100-width.php","meta":{"footnotes":""},"class_list":["post-11185","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to navigate the Powerful Synergies the Supply Chain Sharing Economy<\/title>\n<meta name=\"description\" content=\"There are many challenges that stem from co-ordination of these activities, but the product and service excellence that can be realized is enormous.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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