The COVID-19 pandemic has amplified the level of uncertainty in an already volatile time for markets and supply chains.
At the time of writing this piece, I am just one of five million people emerging from the world’s longest coronavirus-related lockdown, in Melbourne, Australia. For nearly two months, I was only allowed to leave the house once a day for essential items and required to stay within three miles of my home. From takeaway meals to IT support, to doctor’s appointments, most of the goods and services I've needed have been ordered virtually. Since COVID-19 hit, I’m amazed at how quickly the world went virtual.
Procurement’s role within an organization has changed dramatically over the past few decades.
Future of Sourcing Digital is excited to continue our popular series “Women in Global Sourcing.” This series highlights, celebrates, and acknowledges women who are pioneers and leaders in the industry and who have been influential in moving the industry forward. It is our pleasure to feature Aditi Pany this week.
It’s long been acknowledged that both hard and soft skills are needed in most jobs. They are no less crucial within procurement.
While hard skills include the teachable, quantifiable abilities you need to do the job and will be reflected in your qualifications, soft skills are, of course, slightly more difficult to measure. These can include teamwork, communication, conflict resolution and problem-solving abilities.
This summer, the World Federation of Advertisers published an illuminating report about the current state of marketing procurement and how the function needs to evolve to realize its full potential. The report is part of an ongoing initiative led by the WFA Global Sourcing Board. The initiative, Project Spring, is “designed to transform the value proposition of marketing procurement.”
We all think we know what dirty data is, but it can mean very different things to different people. At it’s most basic level, dirty data is anything that’s incorrect.
Within procurement, it could be misspelt vendors, incorrect invoice descriptions, missing product codes, a lack of standard units of measure (e.g., ltr, l, litres), currency issues, duplicate invoices or incorrect/partially classified data.
The supply chain strategy paradigms we have held close and true for decades are being challenged. The questions are complex, important, urgent and without easy answers.
To continue our discussion from Part 1, let's consider the roles of cause and effect on evolving Procurement practices.
Every year, companies spend billions on packaging for their products. According to a recent research report by Smithers, the value of the global packaging market was $917 billion in 2019. It will grow to $1.05 trillion by 2024.
