Procurement's Year in Stories: September 2024
In September, in its 20th year, Gartner unveiled the prestigious Global Supply Chain Top 25, honouring top-performing supply chain organisations and revealing key performance trends.
Schneider Electric secures the top position, surpassing technology giant Cisco Systems. The top five also includes Colgate-Palmolive, Microsoft and Johnson & Johnson.
New entry NVIDIA has made an impressive climb into the Top 25, securing seventh position thanks to its robust financial performance.
"The supply chain organisations in this year's Top 25 were notable for better protecting growth rates in a challenging operating environment, while at the same time delivering more sustainable operations," comments Simon Bailey, VP Analyst with the Gartner Supply Chain practice.
"The best supply chains now have ESG criteria firmly embedded in their operations, while delivering higher-than-average growth rates, better returns on physical assets (ROPA) and stronger margins."
The Global Supply Chain Top 25 from Gartner is ranked based on two primary elements: business performance and community opinion.
Business performance is assessed through public financial and ESG data, offering insights into companies' performance over the last three years. On the other hand, the community opinion component provides perspectives from peers and Gartner experts on companies' future potential, reflecting their leadership within the supply chain community.
Together, these components make up a composite score.
Gartner initially selects companies from a blend of the Fortune Global 500 and Forbes Global 2000. Companies with annual revenues below US$15bn and those lacking physical supply chains are excluded from consideration.
The complete Top 25:
- Schneider Electric
- Cisco Systems
- Colgate-Palmolive
- Microsoft
- Johnson & Johnson
- Diageo
- NVIDIA
- The Coca-Cola Company
- Walmart
- Lenovo
- L'Oréal
- AstraZeneca
- PepsiCo
- Nike
- Intel
- Siemens
- Nestlé
- Inditex
- Dell Technologies
- Pfizer
- HP
- Danone
- BMW
- Heineken
- JD.com
Why Companies Like BMW and GSK Are Beroe's Best-in-Class
Alcon, BMW, Coca Cola Europacific Partners and GSK have been recognised by Beroe as best in class for their procurement practices.
Beroe, a global leader in procurement intelligence and analytics, has announced the winners of its fourth annual Best-in-Class (BIC) Awards, recognising 51 companies across 17 industry sectors for their outstanding procurement practices.
These annual BIC Awards celebrate procurement teams that exemplify operational efficiency while delivering significant commercial value, showcasing the pivotal role of strategic procurement in driving overall business performance.
Historically, winners of Beroe's BIC Awards have outperformed stock market benchmarks, proving that companies focused on procurement transformation are better equipped to innovate, improve their supply chains and deliver a competitive cost structure.
This year's award-winning companies represent a diverse range of industries including Auto (BMW), Beverages (Coca Cola Europacific Partners), Healthcare (Alcon) and Pharmaceuticals (GSK).
"Over the past few years, a combination of factors has put procurement teams under pressure - inflationary pressures, supply chain volatility and geo-political disruptions have been major issues," said Vel Dhinagaravel, Founder and CEO of Beroe.
"Procurement can be a real leader in making things more sustainable and building a competitive, bulletproof supply chain. It's an exciting time to be in this field.
"Congratulations to all of the winners in the fourth annual BIC Awards for setting new benchmarks of excellence in procurement."
Beroe Best-in-Class (BIC) index: methodology The Best-in-Class (BIC) approach helps Beroe spot the leading companies in a sector by looking at their financial and operational performance, adjusted to a specific start year for a fair comparison.
This method reviews different indicators of success to identify businesses that stand out among their competitors. These top companies are then compared with major worldwide stock indices like the S&P 500, FTSE 100 and DAX to see how well they do in the market.
The superior performance of these Best-in-Class companies, especially in their stock prices, shows their outstanding financial stability and market leadership.
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