Why CEOs need to make supplier strategy and procurement leadership imperatives

If anything will persuade CEOs that suppliers and procurement should be leadership imperatives, it is surely the double whammy of a global supply chain crisis and the highest inflation in 40 years. Few companies have remained unaffected by the worldwide shortage of critical supplies and a staggering rise in costs not seen in the U.S. and Europe since the 1970s. And yet, the strategic issues of suppliers and procurement should not only come to the fore during times of crisis. They should be all-year-round top priorities for senior business leaders.

Research indicates that many CEOs typically spend little time thinking...