Flemington, New Jersey, United States
Contact Info
4K followers
500+ connections
About
Activity
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Wonderful to meet and spend time together in Windsor with our newly formed UK & Ireland Commercial team for Biocon Biologics, joined by our European…
Wonderful to meet and spend time together in Windsor with our newly formed UK & Ireland Commercial team for Biocon Biologics, joined by our European…
Liked by Stephen Fecho, Jr
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Because a bad ❌ demand forecast can cost millions... This infographics contains 10 effective ways to improve demand forecast 🎯 accuracy: 🎯 1️⃣…
Because a bad ❌ demand forecast can cost millions... This infographics contains 10 effective ways to improve demand forecast 🎯 accuracy: 🎯 1️⃣…
Liked by Stephen Fecho, Jr
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Are you willing to sacrifice the numbers to save your people? Inspire your team with our Amazon bestseller, “Unlock the Hidden Leader: Become The…
Are you willing to sacrifice the numbers to save your people? Inspire your team with our Amazon bestseller, “Unlock the Hidden Leader: Become The…
Liked by Stephen Fecho, Jr
Experience & Education
Volunteer Experience
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Board of Directors
Greater Flemington Soccer Club
- 8 years 8 months
Children
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Crew, Coxswain and Vessel Inspector Certified
United States Coast Guard Auxiliary
- 8 years
Education
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Member
Supply Chain Risk Leadership Council
- 5 years 6 months
Science and Technology
Subject Matter Expert (SME) to create best-practices, standards, processes, capabilities and metrics to be adopted across industries. Leverage this best practices effort to proactively initiate consistency across industries and their related organizations / councils. Enable standardization across industries where applicable and become “industry integrators” for the betterment of a more efficient and consistent risk management environment. https://scrlc.com
Publications
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Supply Chain Risk Management - Overcoming Business Complexities
NC State University - Supply Chain Resource Cooperative
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Leveraging Market Intelligence as a Competitive Advantage
The Hackett Group, Inc.
Nearly all procurement organizations have separated strategic sourcing processes from transactional purchase-to-pay (P2P) activities. Many have also established internal Centers of Excellence (COEs) for data-intensive activities such as spend
analytics. However, there is no reason to limit COEs to spend analytics, given all the other standardized, data-intensive “strategic” sourcing activities. These include the gathering, aggregating, reporting and selected analyses of supplier/market data,…Nearly all procurement organizations have separated strategic sourcing processes from transactional purchase-to-pay (P2P) activities. Many have also established internal Centers of Excellence (COEs) for data-intensive activities such as spend
analytics. However, there is no reason to limit COEs to spend analytics, given all the other standardized, data-intensive “strategic” sourcing activities. These include the gathering, aggregating, reporting and selected analyses of supplier/market data, such as trends and risks.
In 2008, Merck sought to use this strategy to improve sourcing efficiency and effectiveness. Championed by Chief Procurement Officer Richard Spoor and spearheaded by Stephen Fecho, Merck had initially attempted this in 2005 by assigning responsibility to sourcing analysts. As Merck increased its access to spend and ventured into new and more complex categories and regions, it had a need for more detailed and forward-looking market intelligence to support its sourcing
management process (SMP). Therefore, a new approach was needed, leading to the creation of the company’s Market Intelligence Center of Excellence (MI COE).Other authorsSee publication -
Manufacturing & Competitive Intelligence: Cases, Tools and Talk
Pharma Competitive Intelligence Conference & Exhibition
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Leveraging Supply Market Intelligence as a Competitive Advantage
NC State University - Supply Chain Resource Cooperative
"Steve shares the origins of the Market Intelligence function, and how it has evolved to become a critical strategic weapon for leveraging supply chain relationships globally at Merck. Central to his discussion was the fact that good MI not only serves supply chain stakeholders, but can better inform customers and key business unit stakeholders on the trends in the market and how they shape the future."
- Robert Handfield, Bank of America Distinguished Professor of Supply Chain…"Steve shares the origins of the Market Intelligence function, and how it has evolved to become a critical strategic weapon for leveraging supply chain relationships globally at Merck. Central to his discussion was the fact that good MI not only serves supply chain stakeholders, but can better inform customers and key business unit stakeholders on the trends in the market and how they shape the future."
- Robert Handfield, Bank of America Distinguished Professor of Supply Chain Management at NC StateOther authorsSee publication -
Leveraging Supply Market Intelligence as a Competitive Advantage
DCAT/ISM Sourcing Summit 2010
Today's economy forces companies to evaluate their business models and seek new ways to drive competitive advantage. As a result, procurement organizations increase their access to spend and venture into new and more complex categories and regions of the world requiring the need for more detailed and forward-looking market intelligence to support strategic sourcing. Additionally, given the environment of limited resources and competing priorities, companies need to find a way to streamline…
Today's economy forces companies to evaluate their business models and seek new ways to drive competitive advantage. As a result, procurement organizations increase their access to spend and venture into new and more complex categories and regions of the world requiring the need for more detailed and forward-looking market intelligence to support strategic sourcing. Additionally, given the environment of limited resources and competing priorities, companies need to find a way to streamline their processes and/or eliminate non-core work so that they can focus on optimizing sourcing strategies. Mr. Fecho will provide you with an overview of what market intelligence means at Merck, how it is gathered, and how to define the value generated by good market intelligence.
Honors & Awards
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Merck FOOTPRINT Award
Merck & Co., Inc.
Recipient of the annual CPO Footprint Award for demonstrated leadership, exceptional performance, outstanding level of spirit and superior level of dedication to further the Global Procurement & External Manufacturing Organization.
More activity by Stephen
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Thishalini Tanggayah , I'm thrilled to have you on board and be a part of your journey. Your enthusiasm and passion are truly inspiring, and I'm glad…
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Culture, Traditions, Rituals, and Values -The Key to Belongingness Have you ever felt a sense of belongingness, like you're part of something bigger…
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I’m extremely excited to be attending a professional development program at the Division of Continuing Education at Harvard University. The timing…
I’m extremely excited to be attending a professional development program at the Division of Continuing Education at Harvard University. The timing…
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Because metrics are not the same for demand and supply planners... This infographics shows 10 🧮 metrics that demand & supply planners should…
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Successful leadership transitions generate 3-5% higher revenue. New CSCOs can leverage our 3-piece toolkit to accelerate their transition:…
Successful leadership transitions generate 3-5% higher revenue. New CSCOs can leverage our 3-piece toolkit to accelerate their transition:…
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the journey starts today .... all the best my dear .... give your best every day, the best will come to you 👍❤️
the journey starts today .... all the best my dear .... give your best every day, the best will come to you 👍❤️
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Why ❓ do we need Demand Planning if we have Commercial Planning? This infographics compares Commercial Planning vs Demand Planning: ✅ Focus 👉…
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Sign #1: You don’t want to go to the meeting.
Sign #1: You don’t want to go to the meeting.
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Anyone can sit in a corner office and delegate tasks, but there is more to effective leadership than that. Effective leaders have major impacts on…
Anyone can sit in a corner office and delegate tasks, but there is more to effective leadership than that. Effective leaders have major impacts on…
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We are grateful for the work Direct Relief does to support patients, and for this opportunity to partner with them to reach communities who need…
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