A Wall Street Journal article recently posed an interesting question: “Is the world likely to become less flat because of the pandemic?” According to the article, while globalization was the growing trend in the early part of the new century, key drivers such as rising offshore costs, localization and a shift toward services delivery has begun to take some steam out of it.
In 1990, two business academics, C.K. Prahalad and Gary Hamel, teamed to write one of the Harvard Business Review's most influential articles on the nature of the modern firm and, by extension, outsourcing. They introduced the concept of core competence, which they called the “most powerful way to prevail” in global commerce.
Well, many companies adopt automation in only one department of their business, while the rest of the department will rely on legacy systems. An automation platform cannot perform to its ultimate capabilities if the whole company is not on the same system. When you talk about company-wide automation, many companies are hesitant to deploy automation company-wide because it can require a lot of training and the system may not be user-friendly.
There is no shortage of analysis and predictions today regarding COVID-19 and our future. While experts of all walks of life weigh in via global news channels, healthcare organizations are still left addressing the here and now as well as surges that could happen tomorrow, next week or in a few months. For those supporting the front lines securing necessary supplies and resources, it is paramount to be able to deliver what is urgently needed.
With greater attention on sustainability and the direct need to meet climate goals, purchasers are looking for ways to change. One place to start is with the 170 million notebook computers produced and sold around the world every year. Rethinking an organization’s purchase and use of IT products like those notebooks can dramatically cut an organization’s carbon footprint – and save money - without affecting performance.
Training a company’s team members is a foundational step in running a company, but it is often forgotten when busy times hit. This is a big mistake. Putting the time and effort into designing a training program that suits the unique needs of procurement will drive more effective results in less time. Employees will be better equipped to manage the various situations and surprises that sourcing across numerous categories brings about.
There’s not likely to be a lot of business travel happening within most of your companies right now. There hasn’t been, globally, for a few months, as corporations introduced blanket travel restrictions from March onwards for all but business-critical or key worker travel.
Before getting into the topic, write down two things:
1) Your high-level definition of the term spend under management
2) What percentage of your company/organization’s spend would you estimate is under management?
Once you answer those questions, read on…
It’s no secret that marketing and technology have become deeply entwined over the past two decades. Largely because of digital technologies, the methods, tactics and channels used by marketers have changed dramatically.
COVID-19 not only wreaked havoc on public health, but it also began a cycle of disruption in sourcing and fulfillment that may never return to any semblance of “normal.” In fact, for both the short and long term, supply chain executives will need to focus on “flexible” in their job descriptions.