How To Design An Operating Model For A Unicorn
IBM News, Tuesday, September 24th, 2024
As the starting point of the value chain for almost all enterprises, procurement is a vital business function. Although it's often overlooked, it can make or break a business's success, helping organizations control costs, enhance quality, improve supply chain effectiveness and comply with rules and regulations.
For aspiring unicorns, designing the Target Operating Model (TOM) for procurement can be a daunting task. Unicorns are privately held startups with a valuation of at least USD 1 billion and are not listed on the stock exchange. Startups and would-be unicorns face myriad challenges in designing TOMs, so it's important to understand the major decisions and common misconceptions surrounding the process.