--- To enhance the value and performance of procurement and SCM practitioners and their organizations worldwide ---

September 1998, Vol. 10, No. 8

Liner Notes Members Only Content

Everywhere we turn these days we hear or read about the concept of "adding value" to things or processes. The thought process argues that every activity ought to be considered in terms of the value it adds. Will this activity add value to me, in my situation? Will it add value to others around me, in our situation? Although these questions are profound, the more important issues include: What is valuable, what do we measure, and whose values do we use to measure the situation? I want to suggest that, as a professional, value ought to mean that an activity enhances our understanding of the common body of knowledge or that it helps us expand our contribution to our organization. In reality, we recognize that most of us measure value in terms of cost. What does the activity cost in terms of money, or time, or both?

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