How to Create a Culture for Innovative Forward Buying
The best opportunity to influence your income statement is to attack the Cost of Goods. You live on thin margins, so any efforts that reduce the Cost of Goods can have a dramatic impact on your company’s profit picture.
Forward buying is an excellent strategy for doing this, and it all starts with CULTURE.
In this PlanningPosts podcast, Henry Schein, Inc., a Fortune 500 distributor with more than 300,000 products in 31 countries, shares how culture advanced their maturity model for forward buying and contributed to the success they have today.
Special guest Paul Rose, SVP of Supply Chain at Henry Schein, says they built their culture around these 4 key ingredients:
- Develop a passion for profit
- Spend money to make money
- Educate your team about forward buying
- Provide them with the tools and information they need
Learn the strategies and benefits of forward buying, plus additional strategies for purchase price management, managing deals, and vendor/supplier relations. Download, listen and share now.