Key figures in the procurement and supply chain industries convened in Shanghai last two days for the significant Procurement Success Summit 2015.

This event, organized by GlobalSCM, attracted more than 200 attendees including over 30 senior procurement leaders from Fortune 500 who had given excellent speeches. The theme of the summit this year was "Innovation Collaboration Future".

The case study presentations by Arnd Hirschberg, Chief Procurement Officer of Siemens, Joe Agresta, Vice President Global Procurement of Johnson & Johnson, Sivakumar Lakshman, CFO of NOMAC indicated the importance of supply chain innovation, next generation risk management and talent procurement to drive innovation and effectively mitigate and manage risks throughout the advanced procurement process.

"All great leaders know that it takes World Class people to get to World Class performance in supply management." said Robi Bendorf, the consultant of Bendorf & Associates, when it came to Talent Procurement.

He added, "We found few executives expressing high levels of confidence in talent in their field and in their organizations. Indeed, only 38 percent of executives say they are extremely or very confident that their supply chain organization has the competencies it needs today.

The competition next year was believed to be fiercer especially in terms of innovation and talent, as John Roden, the CPO of Takata, stressed:" Talent Management is the most critical success factor for the future. Remember SCM can control as much as 70% of total cost."

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