CHAPTER 6
Knowledge
Business Acumen, Supply Chain Finance, and Costs
Science is the father of knowledge, but opinion breeds ignorance.
—Hippocrates (460–370 BC)
Recently, at a workshop for developing and managing talent in what was labeled as the “new supply chain environment,” a senior executive laid out his requirements for a “high-impact,” high-value managerial education program for his global sourcing, purchasing, and planning function.
I have plenty of people who know all about sourcing, purchasing, and planning—buying, negotiating, doing “should cost” analysis, managing purchase price variance, and doing sales and operations planning. What I really need are people who understand the following and bake it into their decisions and analyses—the ...
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