Sourcing

Pursuing Data-driven Insights? Start With Your Supplier Data

Posted: 08/06/2021 - 09:00
Supplier Data

For years, experts have urged business leaders to prepare for the coming AI disruption. Realizing the amazing potential of these emerging technologies, they argued, would require businesses to overhaul how they manage data. Yet with the economy booming, many found it easier to push tricky data questions into the future.

COVID-19 Proves Why It’s Time to Put the Supply Chain on Autopilot

Posted: 01/12/2021 - 02:30
The COVID-19 pandemic has exposed the vulnerability of the global supply chain.

The COVID-19 pandemic has exposed the vulnerability of the global supply chain. Precisely when the capabilities of international, interconnected trade mechanisms were supposed to kick into high gear, producers found themselves desperate for supplies while store shelves lacked essential goods. The global supply chain didn’t rise to the occasion. Now, it’s important to examine why.

Tips for Managing a Successful Competitive Bid

Posted: 12/31/2020 - 03:09
Agile 4 Step Procurement Methodology

Agile 4 Step Procurement Methodology, developed through decades of experience, delivers practical and sustainable results. It is a method our clients find valuable and one we use internally for our projects, too. Practice what you preach!

Imagine you have a competitive bid to run. You have completed your planning and research, gathered your requirements, performed a marketplace assessment and determined your sourcing strategy. You are ready to move forward with the competitive bid. With so much to do, how do you stay organized and what are the next steps?

WFA Research Benchmarks the State of Marketing Procurement

Posted: 10/27/2020 - 05:13
Eighty-five percent of respondents agreed marketing procurement drives improvements, and 76% agreed it provides demonstrated value.

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.”

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.

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.

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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