Over the past two years, the world has seen what happens when supply and procurement chains seize up and shortages in such staples as infant formula and sunflower oil become commonplace. Daniel Weise, leader of BCG’s global procurement business, explains how companies can move beyond a cost-cutting mentality to treat their supply chain as a strategic imperative—the way that Apple did when it promoted Tim Cook, an operations and supply chain executive, to CEO. Unfortunately, most CEOs spend only minutes a day on their supply chain and procurement issues, and these topics are far too important to be relegated to corporate Siberia, Weise is a coauthor of Profit from the Source, published by Harvard Business Review Press.

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