This article originally appeared in The Bangkok Post.

As we mentioned in the first column of this two-part series, our candid interviews with 60 executives throughout Asia-Pacific helped us see where they feel they are lagging in procurement capabilities at a time when such mounting pressures as cost volatility make it more important than ever to catch up.

Fortunately, they can learn from the best. We call it fourth-generation procurement — using the procurement function as a way to add value to the business year after year, shoring up the bottom line by keeping costs from mounting.

Based on our work with clients and our study of procurement capabilities, we have identified the criteria that raise companies above their rivals and found winners for each of the six important enablers: organisation, processes, tools and systems, profit and loss (P&L) effectiveness, talent and results delivery.

Read the full article in The Bangkok Post