coronavirus

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.

Tail spend goes beyond the typical 80/20 rule

Posted: 08/24/2020 - 05:27
When you think tail spend, don’t just think of the typical 80/20 rule.

Having a sound tail spend management strategy has never been more important than it is today. It’s a key differentiator – and competitive advantage – in a down economy in which cash is king and cutting costs is a high priority. Procurement teams can no longer rely on direct materials for savings—those costs have been negotiated to death.

Preparing Global Supply Chains for the Second Wave of the Pandemic

Posted: 08/14/2020 - 08:32
As a result of the ongoing crisis, global GDP for 2020 is expected to average close to 0%, which would be a faster contraction vs the 2008 crisis.

2020 has been quite a year for global businesses and especially for supply chains.

Just in the first six months of the year, the world has already witnessed some defining moments. Looming trade wars between the U.S. and China, preparations for the post-Brexit economy in the Euro zone, and an increasing focus on sustainability and environmental consciousness are all ongoing.

Though one can argue that none of these moments took the world by surprise, they did push global supply chains to review and re-engineer their operating models.

Could the Pandemic Bring Outsourcing Closer to Home?

Posted: 08/03/2020 - 02:45
When it comes to sourcing professional services to help grow their businesses, companies will increasingly find some level of comfort and convenience by partnering with those closer to home.

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.

Digital agility begins with automation

Posted: 07/29/2020 - 02:05
digital agility with automation

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.

Where Data and Operations Intersect to Meet COVID-19 Challenges

Posted: 07/28/2020 - 04:20
AI is instrumental when analyzing multiple, complex data assets to identify insights that are critical to predicting outcomes.

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.

Using Data to Navigate the Post-Pandemic Workforce

Posted: 07/06/2020 - 00:08
Post-Pandemic Workforce

You say we are seeing the biggest overhaul of work since the dawn of the Industrial Revolution – why do you say this?

The disruption we have experienced with COVID has been unprecedented. Practically overnight, the workforce transitioned to de facto Work from Home. This has  allowed employers and employees to prove out the Work from Home model. The reality is most of these employees will likely work from home moving forward.

Rethinking the Future for Resilient Sourcing and Beyond

Posted: 06/29/2020 - 23:52
Future of Resilient Sourcing

While the COVID-19 pandemic is far from over, enterprises are looking beyond the current crisis with the hope of pandemic-proofing their supply chains and operations to build resiliency. But that view is too limited to build true resiliency. The next global business disruption crisis might be a pandemic, but it might also be something entirely different or so novel it's never been considered. Today's resilient enterprises need to embrace a mindset shift to view risk through a much wider lens.

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