Though it may be hard to believe, 2022 is officially upon us. As we look to the new year and all the potential it has to offer, supply management and sourcing professionals everywhere are finalizing their corporate resolution lists in the hopes of securing a successful year ahead. The pressure to produce and thrive is on like never before, especially when you consider all the challenges, changes, and uncertainties presented in 2021.
At LevaData, our goal has always been to help organizations transform strategic sourcing into a competitive advantage. We want you to succeed, in every sense of the word, which is why we’re sharing our greatest wishes and hopes for professionals, organizations, and the supply management industry as a whole in 2022.
What We Wish for You
My wish is that all organizations will capitalize on the rapid investment and adoption of advanced sourcing and procurement analytics. We expect these will increase dramatically over the next few years, and I hope organizations will keep up with this pace of change.
I also hope professionals will take measures to protect themselves from the likely significant increase in potential inventory liabilities we expect to see in the next two years. Based on anticipated demand slowdowns, high safety stock positions, and excess capacity buildout, I believe it's critical to invest in planning and procurement technologies to alleviate these expected inventory risks.
- Rajesh Kalidindi, Founder & CEO
My wish is that enterprises will recognize that attention to risk is now here to stay. Even as disruptions settle down and continuity of supply resumes, sourcing organizations will never again focus myopically on cost alone. My hope is that organizations will come to think of 2021 as an inflection point in raising awareness and fostering change in thinking across supply chain organizations. If we don't learn from the last two years and slip back into our old ways of myopic cost focus, that would be a sad outcome, indeed.
- Adeel Najmi, Chief Product Officer
With respect to the global supply chain and the procurement teams that have worked so tirelessly to keep them afloat, and in some cases, thriving, I wish for three things. Number one: let's not wait for the next black swan event to eliminate breakpoints and evident fractures in our systems and processes. Hope isn't a strategy, yet we've done just that with single-source suppliers and geographic isolation from critical, necessary materials.
Number two: the life of the practitioner in this category is chaos. We should stop that. I wish for them to earn much-deserved attention and exposure. Attention from executive leaders that the work they do is critical, and the breakneck pace of analog and obscenely manual efforts is simply unsustainable—even in the best of times. This is notable for direct material procurement teams. Invest in people by investing in digital transformation that's purposeful.
And, number three: I wish for sustainable solutions that are equal parts legislative policy, technology-driven, and workforce empowerment. Politicians should acknowledge the impact of international tariffs, for example, on the accessibility of parts. Automation doesn't replace work—it enhances quality. Use it. In parallel, educate these teams on practices that can weather downturns and change outcomes by improving minds.
- Scott Morgan, Chief Commercial Officer
In 2022, I wish to continue offering organizations a scalable supply management marketplace platform that allows buyers and sellers to collaborate to add value to their respective companies.
- Akwasi Peprah, SVP of Operations
I wish all executives and organizations could have factual, transparent information readily available, so any plans or strategies they make are based on facts and informed opinions—not emotions or assumptions. This could apply to debates going on in the U.S. government, the fear around COVID, or ensuring visibility of their supply chain data.
I want visibility of consolidated data and facts; insight should be provided based on that first, and then opinions can be applied afterward. Our world currently likes to provide a lot of opinions and choose their own facts to support their view. LevaData can take the "politics" out of data and show the simple facts so that everyone is using the same factual data perspective to make the best decisions for all.
- Brian York, VP, Product Management, Content
My wish is fairly simple and straightforward. The supply chain crunch seems to be continuing, and it may last through 2022. We are facing two new COVID variants; at this time, we don't understand how this risk in the supply chain may take hold or may not affect it at all. Manufacturers have dealt with shortages on key components, as well as higher raw material costs, and they are seeing some significant price increases. Transformation costs continue to change, as well.
My wish is that the variants are mild and do not affect suppliers' abilities to generate commitments to their customers. I also hope supplier staffing gets close to pre-COVID numbers, that transportation supply chain issues ease in the coming months, and that the shipments of goods will again be timely and as expected by Q2 2022.
- Greg Bartek, Senior Director for Global Customer Experience Operations
A Bright Year Ahead
Of course, these wishes only scratch the surface of what LevaData hopes to achieve and provide in 2022. We believe the future is bright, and we look forward to continuing to offer supply management teams everything they need to ensure a resilient supply of direct materials and improve margins. As we move ahead, our greatest wish is that your organization finds the utmost success and agility in all your commercial endeavors.
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