Supplier Management

5 Activities to Accelerate Post-COVID Sourcing Strategies

Posted: 09/18/2020 - 05:21
There are five activities that accelerate quick results - creating new capabilities, greater efficiencies, cost savings, and increased resiliency.

When the COVID crisis hit, organizations had no choice but to respond to the challenges they faced by leveraging the resources they and their suppliers had at their disposal. Clearly, some were better prepared and responded with more resilience than others. Now we are many months into the crisis, and it's time to look at what went wrong and what organizations should change going forward.  

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.

Online Collaboration is Needed Now More Than Ever

Posted: 06/02/2020 - 00:54
technology, automation and data acheives business continuity

We know that procurement is often a juggling act! We use decent supplier relationships, purchasing power, and any other tools in our belt to secure best payment terms, highest quality purchases at the lowest price, or indeed best value, to ensure vital continuity of supply against a backdrop of supply chains becoming ever more complex and volatile!

Third Party and Supply Chain Risk Management: Then and Now

Posted: 05/25/2020 - 02:34
Third Party and Supply Chain Risk Management

The worldwide crisis made us hyper-aware that trust-worthy relationships are vital. Effective third-party risk management is the best way to gain assurance that responses and decisions are risk-informed. Managing third-party relationships, calibrated for criticality and risks, has never been more critical. This is the most reliable path to strengthen business resilience, protect stakeholders and the bottom line.

Value Beyond Savings: 4 Ways Procurement Can Make An Impact

Posted: 05/22/2020 - 21:05
Procurement value

One of the most significant procurement trends we’ve seen so far in 2020 is delivering value beyond savings. So what exactly does this mean in the context of the function’s traditional goals?

Savings, as we all know, have long formed the foundation of procurement’s ROI to the organization. It’s been our primary charter over the years and is quite literally how the function has “paid its bills.”

Shifting Source-to-Pay Operations to Serve the Values-Based Consumer

Posted: 04/23/2020 - 07:10
Corporate social responsibility

Legislation regarding the environment, modern slavery and other sustainable procurement laws are coming into force at a breakneck pace. By embracing change now and adopting ethical and sustainable procurement, organizations can get ahead of the curve. Also, this socially responsible commerce movement is being thrust into the forefront of how business will operate moving forward, given the guidelines for the recent stimulus bill passed in the U.S.

Three Supplier Conversations You Need to Have Now

Posted: 01/22/2020 - 00:00
Your suppliers’ threat profiles will inevitably add to your business’ cybersecurity risk.

Suppliers are mission-critical partners for business success. Unfortunately, too often, an “arm’s length” relationship creates problems that are revealed only after it’s too late.

When suppliers feel conversations only occur after poor performances, the opportunity to have a productive, collaborative conversation may already be over.

Source Wars: Episode I – The Rise Of Software

Posted: 01/07/2020 - 00:00
The Rise Of Procurement Software

Procurement is old. Just how old you ask? Well, a long time ago in a galaxy far, far away… it’s been around for millennia. As a natural function of trade and commerce, it developed organically during the earliest civilizations. Papyrus records indicate procurement can be traced as far back as the Egyptians (the first Jedi) in 3000 B.C.

Information Technology Procurement as a Service – Added Value to Internal Procurement Teams

Posted: 12/20/2019 - 04:30
The Procurement as a Service (PaaS) model, which utilizes outsourced human talent, technology, and industry-specific knowledge to enhance or –  in some cases for SMB companies –  replace the buying process for companies is expected to grow from $5.4 billion in 2019 to $7.8 billion by 2024, according to new market research by MarketsandMarkets™.

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