Protecting Value in The Supply Chain: PSC LIVE London 2024
At Procurement & Supply Chain LIVE London Global Summit, Kevin Betts, Senior Manager at Enable and Keith Wright, Procurement Consultant at K Wright Consultancy, featured on our ‘Protecting Value in the Supply Chain’ fireside chat.
Defining value in the modern supply chain
The discussion begins with an exploration of what “value” means in the procurement context.
Kevin defines it as more than just cost savings.
“Anyone can buy cheap. Anyone can get a low cost for a low-quality product. But when we talk about value, there's more to that equation,” he explains, emphasising that true value incorporates quality, consistency and reliability to meet consumer needs effectively.
Keith echoes this sentiment, warning against the “race to the bottom” approach, which often prioritises low costs at the expense of long-term sustainability.
Instead, the conversation focuses on how every link in the supply chain must operate profitably to ensure mutual benefits.
As Kevin put it: “Protecting that value is about making sure that every link in the supply chain can operate profitably so they can stay in business sustainably and make sure that that value is shared among them evenly to represent the value that they bring to the table.”
Collaboration over competition
The conversation also delves into fostering collaboration within supply chains.
Keith introduces a “bow tie versus diamond” model, advocating for cross-functional engagement across all levels of the supply chain.
This approach brings together teams such as marketing, finance and operations to build strong, interconnected relationships.
“We talk about partnership and collaboration a lot,” Kevin notes. “We don't want to compete with the other links in our supply chain, our suppliers [...] we want to be working alongside those people, not against them.”
The speakers challenges outdated procurement practices, with Keith candidly critiquing phrases like “beat up your suppliers” as counterproductive.
Instead, he advocates for mutual respect, investment and long-term thinking.
The role of technology and data
A key theme was how technology can enhance visibility and efficiency in the supply chain.
Kevin highlights the dual benefits of data insights and time savings.
He explains: “Good technology - out of the back of it comes good data. We have good data. We can gain insights. We can understand what we did this month.”
Keith adds that consistent processes powered by technology allow teams to focus on strategic tasks rather than manual ones.
However, both speakers acknowledges that technology is only as good as the data fed into it.
As Keith observes: “You’ve got to put the hard yards in because if you put rubbish in, you're going to get rubbish out.”
Essential diary dates for 2025
Discover the essential diary dates for Procurement Magazine and Supply Chain Digital, as well as its sister publications – Manufacturing Digital and Sustainability Magazine.
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2025 diary dates:
- Procurement & Supply Chain LIVE Singapore | 11 February
- Procurement & Supply Chain LIVE: Sustainability | 5-6 March
- Sustainability LIVE: Net Zero | 5-6 March
- Procurement & Supply Chain LIVE Dubai | 29 April
- Sustainability LIVE Chicago | 4-5 June
- Procurement LIVE Chicago | 4-5 June
- Supply Chain LIVE Chicago | 4-5 June
- Manufacturing & LIVE Chicago | 4-5 June
- Procurement & Supply Chain LIVE London | 23-24 September
- The Global Procurement & Supply Chain Awards | 24 September
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