Strategic Plan For A Company 's Mission

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PSEG defines its value chain by carefully choosing diverse suppliers that support the company’s mission to provide safe, sustainable and environmentally sound products to its customers. To define, shape, and help to ensure that the entire value chain supports PSEG’s overarching strategic plan, PSEG employs a strict and rigorous application and vetting process for all of its suppliers. Suppliers must meet the initial thresholds of being: Capable, Compatible, Competitive and Committed. Each supplier in the chain must show some degree of success in business, suppliers must also be compatible with PSEG’s culture , and are able to compete with others in the industry based on costs, and are fully commitment to supporting PSEG’s mission to …show more content…

The recent implementation of the new continuous process improvement department within PSEG has resulted in tremendous cost savings and has also helped to re-shape and redefine the company’s overall value chain. The new department has helped to improve the value chain definition by focusing more on holistic opportunities to create a leaner organization as opposed to the draconian focus on profitability and returns to the shareholder. Under this new and improved value chain, cost savings and process improvement do not equate to job cuts. While it is true that job cuts do still exist within the company, the focus is more on strategic cuts, realignments, and reorganization plans. One key project within the organization under this continuous improvement plan is within the Human Resource Department.
In direct relation to the company’s overall strategic plan, PSEG has made a commitment to hire, develop and retain talented workers. Another project focused on process improvement is in the technology world as PSEG has made hefty investments in the migration from paper/manual invoice processing to more automated systems within SAP. Likewise, advances are being made in the way that we process transactions and in our reporting systems. Currently, transactions are processed and tracked manually using spreadsheets but with the recent purchase of new transaction processing known as Tririga, employees and management will have the

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