As the manufacturer of the polymer substrate used in the banknotes of 23 nations, Innovia Security – the company I head - works hard to earn the trust of central banks around the world. We are extremely honoured that a leading European Bank has recently selected our substrate, Guardian® for their upcoming new notes and we are looking forward to working with that Bank to deliver secure, durable, and clean currency that their public will enjoy using.
More than anything else, outsourcing requires trust - a measured approach to building and maintaining trust that lasts before, during and after the outsourcing arrangement has run its course. Despite the availability of the tools outlined in this book, many companies still treat outsourcing as a leap of faith or worse, a tactical after-thought.
Today, when I mentor C-Level executives on how to make the jump to the role of CEO, many struggle to move their thinking from functional excellence to cross-functional leadership. In many people’s minds, even the characterization of a corporate leader seems to be shrouded in mystery– ranging from a motivational speaker to a whip wielding slave-driver.
One thing I have noticed all good corporate leaders have in common is their ability to pick and extract the power from uncommon teams - teams of internal experts and external service providers who can aggregate, work well together under pressure, and create the magic called success.
That is where it becomes critical to outsource well. No doubt, today every company outsources at least some part of its activities. With outsourcing being so ubiquitous now, and of such strategic importance that some of the best known businessmen on earth spend a significant amount of their time getting it right – it is a wonder why many people are not taking it just as seriously as these business stalwarts are.
Supervising many supply chain transformations in the past, I have seen the difference that good outsourcing can make to a business. These experiences made me keen to contribute my thoughts in the foreword for this book.
When I engaged Vivek’s services for supply chain transformation in one of the companies I was heading, we expected the careful and methodical approach that he was famous for. Outsourcing was only one of the components of our supply chain, and at the time we did not think it was even a particularly important one.
I was already convinced that critical business turnaround can only be achieved by taking an end-to-end supply chain approach to this transformation. I was pleased to note that the original target set for 3 years was surpassed by almost 70% in just 18 months – providing graphic evidence of the full power of these ideas in action.
The authors of this book have handled the subject extremely well – especially the strategic end of the discussion on when to outsource, and when not to outsource. In addition, they have highlighted the importance of good outsourcing to the eventual success of the companies, their leaders, and their products.
It is not easy for a book to cover the thirty-thousand-foot view of a topic and also detail the ground realities of its key components. Through the clear articulation of the critical concepts richly populated with real life examples, the authors have tackled this challenge successfully. Books of this nature are only the start of a conversation; and a good conversation such as the one started by this book will flow well into the board rooms around the world. In this endeavor I wish them great success.
Managing Director & CEO Innovia Security Pty Ltd
Melbourne, Australia, February 2014