Jan 26, 2009

PriceWaterHouse Bloopers

Here’s something I never expected. For years, I was associating PWC (PricewaterhouseCoopers for the uninitiated) with accounting, tax auditing and the like. It was only very recently that realized that in some countries like South Africa, they have a very prominent supply chain operation going. This is amplified by the fact that the firm spends an estimated GBP 500 million on procurement of goods and services. The following is an excerpt from their website.

It’s no longer just about cost…
Gone are the days where supply chains are seen as pure cost centres responsible for up to 70% of an organisation’s cost base, and improvement activities were centred on cost reduction and process optimisation. The ever-increasing demand from shareholders and customers are providing fuel to the burning platform of transforming your supply chain into a deliverer of real value.
Global markets have made the supply chain more complex than ever to manage by demanding flexible, resilient, responsive and reliable supply chains at least cost. Customers have turned the supply chain into a demand chain and mass production has made way for mass customisation as consumers demand personalised products and services in a convenient and affordable manner. All of this has to be achieved in a responsible manner. Corporate governance is an executive imperative and compliance with Sarbanes-Oxley, King II and Industry Charters are boardroom topics.
So, in order to remain competitive, companies must place greater attention on improving and optimising their supply chains. But organisations don’t transform their supply chains into flexible, resilient, responsive and reliable supply chains overnight. Initiatives to transform your supply chain, in support of key business imperatives, require significant investment and decision making based on a sound case for change.

 

Quite an impressive detailing of the current situation I thought. I was not sure if they were truly giving it that much importance until I caught the headlines about them meeting with their supply chain. Now meeting with the supply chain and deciding that they were going to eliminate all waste to landfills by 2013 and also improve recycling measures throughout the supply chain is something I consider brave. Especially when the 20 members they met up with include those from IT, Financial Services and others, you get the idea that they are serious about it.

After the bad press they had because of their auditors who worked with Satyam (an Indian IT firm that forged millions of dollars on its account sheets), all of their actions will be under the scanner. The good thing about this is that the Indian press does not have enough clout to forge an image change for PWC. But they better watch their back or else they might have to turn into PriceWaterHouseBLOOPERS!!!

Jan 26, 2009

PriceWaterHouse Bloopers

Here’s something I never expected. For years, I was associating PWC (PricewaterhouseCoopers for the uninitiated) with accounting, tax auditing and the like. It was only very recently that realized that in some countries like South Africa, they have a very prominent supply chain operation going. This is amplified by the fact that the firm spends an estimated GBP 500 million on procurement of goods and services. The following is an excerpt from their website.

It’s no longer just about cost…
Gone are the days where supply chains are seen as pure cost centres responsible for up to 70% of an organisation’s cost base, and improvement activities were centred on cost reduction and process optimisation. The ever-increasing demand from shareholders and customers are providing fuel to the burning platform of transforming your supply chain into a deliverer of real value.
Global markets have made the supply chain more complex than ever to manage by demanding flexible, resilient, responsive and reliable supply chains at least cost. Customers have turned the supply chain into a demand chain and mass production has made way for mass customisation as consumers demand personalised products and services in a convenient and affordable manner. All of this has to be achieved in a responsible manner. Corporate governance is an executive imperative and compliance with Sarbanes-Oxley, King II and Industry Charters are boardroom topics.
So, in order to remain competitive, companies must place greater attention on improving and optimising their supply chains. But organisations don’t transform their supply chains into flexible, resilient, responsive and reliable supply chains overnight. Initiatives to transform your supply chain, in support of key business imperatives, require significant investment and decision making based on a sound case for change.

 

Quite an impressive detailing of the current situation I thought. I was not sure if they were truly giving it that much importance until I caught the headlines about them meeting with their supply chain. Now meeting with the supply chain and deciding that they were going to eliminate all waste to landfills by 2013 and also improve recycling measures throughout the supply chain is something I consider brave. Especially when the 20 members they met up with include those from IT, Financial Services and others, you get the idea that they are serious about it.

After the bad press they had because of their auditors who worked with Satyam (an Indian IT firm that forged millions of dollars on its account sheets), all of their actions will be under the scanner. The good thing about this is that the Indian press does not have enough clout to forge an image change for PWC. But they better watch their back or else they might have to turn into PriceWaterHouseBLOOPERS!!!