Global

5 Activities to Accelerate Post-COVID Sourcing Strategies

Posted: 09/18/2020 - 05:21
There are five activities that accelerate quick results - creating new capabilities, greater efficiencies, cost savings, and increased resiliency.

When the COVID crisis hit, organizations had no choice but to respond to the challenges they faced by leveraging the resources they and their suppliers had at their disposal. Clearly, some were better prepared and responded with more resilience than others. Now we are many months into the crisis, and it's time to look at what went wrong and what organizations should change going forward.  

The Science Behind Cost Savings

Posted: 09/15/2020 - 21:36
Cost savings is always measured against a set of expectations, and these expectations are only made possible by quantitative analysis.

Quantitative and scientific approaches to cost estimation have existed for decades and are increasingly accessible to procurement teams via technologies that automate data analysis. 

In many cases, these new capabilities simply accelerate the manual work that procurement professionals were doing using pivot tables and advanced Excel functions (e.g., show only rows with less than five days lead time) that effectively filter large numbers of line items in seconds. 

Making Sense of Supply Risk Management Solutions

Posted: 09/14/2020 - 23:44
From supply chain management vendors to supplier management services, there are different ways companies can manage their risks using third-party sources.

Enterprise risk has never been a higher priority for businesses, executives and procurement practitioners than right now in light of the COVID-19 crisis. The coronavirus disruption has only accelerated many enterprise risks — from cyberthreats, employee health and safety, and most certainly, to supply risks affecting suppliers in complex value chains.

Tips to Drive Virtual Team Results without Micromanaging

Posted: 09/12/2020 - 04:15
Virtual work will remain a new constant path forward for many innovative organizations, while other organizations will revert to traditional onsite work.

The COVID-19 pandemic has led to a surge in the required virtual supply chain work across companies. Aside from the pandemic, teams workingvirtually is a macro trend that newer generations making up a growing portion of the workforce expect. Looking ahead, if supply chain leaders want to attract and retain the best and brightest talent, they will need to facilitate work in new and different ways.

For Procurement Leaders, True Business Transformation Starts At Home

Posted: 09/11/2020 - 05:26
To be effective, digital transformation must begin with open, honest, and scrupulous self-reflection of your digital readiness by running a maturity assessment of business processes.

Technology has advanced significantly since the days when procurement leaders were only managing RFIs and RFPs among their “little black book” of trusted suppliers. Today, big data and artificial intelligence now offer an expansive view of an entire supplier market and unprecedented access to vast wells of verified data. This advancement has opened the door to a new approach that can completely transform the strength of procurement decisions and enable procurement teams to impact a company’s bottom line in new and sometimes unexpected ways.

How Energy Performance Contracting Eliminates Wasteful Spending

Posted: 09/08/2020 - 22:05
Through the Energy Performance Contracting Program and ongoing preventive maintenance of the new facility equipment, Turner County officials will be able to realize these savings, while benefitting from enhanced infrastructure, for years to come.

When municipal and county governments need significant facility and infrastructure updates, but don’t have the funds available, they must identify new and creative ways to cut costs.

For example, Turner County, Georgia, needed to control expenses and upgrade its facilities and infrastructure to ensure its residents receive vital services. They began by analyzing the county’s energy and operational costs.

How Automation Helps BPO Providers Thrive in All Business Climates

Posted: 09/05/2020 - 01:38
When turning to automation, it’s essential for BPOs to evaluate their goals so they can select the right technology to accomplish them.

Business process outsourcing saves companies significant time and money, enabling them to focus on their core business activities. And nowhere is this more impactful than in the document processing arena. Billions of pages of documents move between companies, their partners/suppliers and customers each year.

What Keeps Money Launderers Up at Night?

Posted: 09/01/2020 - 23:58
Suspicious Activity Reports

If you’re laundering money or financing terrorism, what keeps you up at night?

Beyond the day-to-day intrigues of a life of crime, you have a money trail to worry about. Sure, you fear the sophisticated law enforcement and intelligence agencies with the power to track you, shut you down, and put you behind bars. But what about the thousands of watchful eyes observing your money as it flows through banks, casinos, real estate and other covert financial conduits?

Exploring the Feasibility of a Blockchain-Enabled Supply Chain

Posted: 08/28/2020 - 00:00
The adoption of blockchain technology can become the framework to solve supply chain issues from the point of origin of the raw materials to when it reaches end-of-life.

Given the attention on Bitcoin, the underlying blockchain technology has been brought to the forefront for organizations looking to explore the benefits and feasibility of managing the supply chain. The level of trust, transparency, and efficiency promised by this technology opens the possibility of revolutionizing how we handle transactions.  

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