To continue the previous conversation on diversity and inclusion (see my other articles on the enterprise approach to supplier diversity and how to shape the future of supplier diversity), I’d like to look at the other side of the coin: What can suppliers do to help enterprise clients improve their diverse supplier inclusion, selection an
By now, you’ve probably heard of quantum computers and how someday they’ll be able to perform mathematical feats far beyond the reach of even today’s supercomputers. However, you’ve probably heard a lot less about how quantum computers, which rely on sub-atomic quantum physics to perform calculations, will actually benefit your particular industry.
When considering how quantum computers might benefit areas such as supply chain, finance and manufacturing, it’s important to understand that quantum thrives on complex challenges.
As Peter Drucker famously said, “If you can’t measure it you can’t manage it.” Today, technology tools enable real-time collection and analysis of near endless amounts of big data throughout the value chain. This, coupled with our exponentially growing data, offers an exciting new frontier for which the supply chain is uniquely positioned to unlock hidden waste.
The benefits of prioritizing sustainability for any business or industry are extensive, but why is 2021 the year of further prioritization within the supply chain?
Environmental and social governance (ESG) and sustainability have quickly transitioned from “nice-to-haves” to essential components of creating long-term, measurable business value.
The COVID-19 pandemic has changed the parking and transportation industry in countless ways. Corporate offices once filled with hustle and bustle have mostly turned into ghost towns, resulting in a significantly decreased need for shuttle and transportation services. So, what’s next for the future of shuttles? As pharmaceutical companies race to distribute vaccines, a vision of life returning to normal draws closer.
My last article was an overview of how large enterprises have historically approached supplier diversity initiatives and why they have underperformed.
This article will focus on ways the enterprise can improve diverse supplier inclusion, selection and support practices. I recommend that teams consider leveraging some of these tips best fitting for their respective organizations.
From being a startup to a scale-up, businesses today have the advantage of cutting-edge technology and a diverse talent pool to realize their vision. But when growth is happening at a faster pace and wider scale than expected, there’s a danger for some companies to fall behind.
This period of growth can cause small businesses to fail if they have limited resources to keep up with the velocity of change. For those ready to take the next step, however, their growth plans often include business process outsourcing (BPO) as a strategy.
The COVID-19 pandemic underscored the need for better collaboration between finance and procurement as organizations needed to act quickly to increase their focus on their cash position, cash flow and net working capital through a more collaborative finance-procurement relationship.
The relationship each side has with suppliers is synchronistic – procurement ensures the right goods and services at the right price with the right supplier, and finance ensures those same suppliers are paid on time, to confirm that hard-negotiated relationships are not jeopardized.
Can you imagine standing in the middle of a snow blizzard without a COAT on? No… me either. It doesn’t sound like a particularly fun way to spend an evening and let’s face it, no one wants to be exposed to the elements. But guess what? Your data is the same. Think about all the consequences for your health if you were to be stuck out in freezing, stormy weather without a layer of protection on: snotty nose, shivering or, even worse, hypothermia and frostbite.
LogicSource and Sourcing Industry Group recently conducted a joint procurement technology survey. The results revealed some consistent, yet alarming, trends in procurement spend analytics. In short, responses made it apparent that procurement organizations at-large have yet to solve their spend data quality challenges.
Three key findings from the survey indicate the market’s need for more expertise and ongoing data services as it relates to procurement spend analytics:
If you’re in Talent Acquisition or Procurement, you know all too well that hiring people – whether employee or non-employee – can be complex and time-consuming. When you’re busy with the day to day, it’s easy to get distracted from tackling process improvements. Yet, it’s not hard to simplify and modernize procedures for your hiring managers. Some simple improvements can make sourcing external workers a more streamlined process.
The stark reality is, many, if not most, businesses fall short when implementing automated processes within procurement. Company leaders driven to improve efficiency and flexibility often attempt to revolutionize their entire function at once, opting for the "done and dusted" approach; this is a flawed strategy.
What do the oracles say about society’s return to normalcy? Bill Gates is pinning his hopes on a semi-normal return to life in the spring of 2021, provided we rapidly adopt the vaccine. Dr. Fauci’s more conservative estimate suggests that we’ll enjoy movie theater experiences, indoor dining and regular school attendance by late fall.
How Procurement Impacts the Organization
At CDK, we've really focused on some of the changes needed to improve our customer support and experience. It's been a tremendous digital transformation with regard to what CDK does for our customers, but very importantly, what we are doing within the procurement and the supply chain team to help the business be more successful, take costs out, improve on-time delivery and then pick up some additional responsibilities as we've gone along the way.