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As supply management professionals, we attend conferences on gaining a seat at the executive table. We read articles about how the procurement team can become a trusted business partner within the company. As supply management leaders, we train our teams on strategic thinking, emotional intelligence and cross-cultural management.

Reporting the right metrics, in the right way, has contributed to securing supply management's seat at the table. At Sodexo, we hold two spots on the executive team, and supply reports directly to the CEO. We have seats on the marketing council and CSR steering committee, as well as on numerous other task forces within the company.

Companies are justifiably anxious to reduce costs. But the problem with many cost-cutting measures is that they are put into practice without considering their sustainability. Often, cost savings achieved in the short term eventually leak away. The failed cost reduction initiatives wind up damaging corporate infrastructure and culture, leaving companies struggling well after the recession ends.