A Tale of Two Procurement Books: Cox’s Sourcing Portfolio Analysis (Cox) & Strategic Sourcing in the New Economy (Keith et al.)

Supply Chain View from the Field

Andrew Cox’s new book “Sourcing Portfolio Analysis” represents the more traditional “power-based” view of procurement. The book relies on a series of prescriptive two by two matrices, that are further segmented into eight by eight matrices, that establish different typologies for supplier segmentation, The application of these frameworks to the universe of buyer-seller relationships I proposed (ostensibly) to lead to improved sourcing outcomes…for the buyer!

Andrew Cox’s “Sourcing Portfolio Analysis”: More of the Same

Supply Chain View from the Field

Against the many new articles and books being produced on the changing face of procurement and the importance of value creation and collaboration, Andrew Cox’s new book “Sourcing Portfolio Analysis” came out earlier this year. The book is essentially a series of prescriptive 2 X 2 and 8 X 8 matrices that establish different typologies for supplier segmentation, that ostensibly can lead to improved sourcing outcomes.

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How Sourcing has Reemerged in a Covid-19 World

Jaggaer

For the first three months after Covid-19 hit, virtually every sourcing project , in every sector , was put on hold while companies tried to assess the situation and how best to deal with the epidemic. Diversify Your Sourcing Needs. COVID-19 Sourcing

Conducting Effective Procurement Spend Analysis in the Current Environment

Jaggaer

Before decisions are made, it is imperative that a thorough procurement spend analysis is conducted in order to identify exactly how money is being spent, what non-essential and maverick spending is taking place and where savings opportunities exist that do not impact operational performance. To get all the details on running a spend analysis, download our checklist, How to Conduct a Spend Analysis in 7 Steps. Spend Analysis

What is Spend Analysis?

Jaggaer

Spend analysis is the process of identifying, gathering, cleansing, grouping, categorizing and analyzing your organizations spend data. Spend analysis is a branch of the much larger field of spend management. Gaining visibility is critical to a successful spend analysis.

The Top 5 Reasons You Need a Transportation Sourcing Solution

Talking Logistics

However, if your role is managing the movement of widgets from point A to point B, or multiple points, the freight procurement task before you can be labor intensive and time consuming — unless you use a technology solution specifically designed for transportation sourcing. Here are the top five reasons you need a transportation sourcing solution: 1. Freight sourcing is as unique and complex as the transportation industry itself.

Time to Rethink Sourcing Rare Earth Elements

Supply Chain Game Changer

Strategic National Stockpiles and Sourcing for the National Interest! These Rare Earth Elements have long ago been abandoned for mining and processing here in the United States and are part of our reliance on Chinese sources of supply. The US Geological Survey has conducted extensive chemical analysis of 23 sedimentary phosphate deposits (phosphorites) in the United States with the results demonstrating significantly enriched REEs in these ores. sourcing #rareearthelements.

COVID-19 & SCM – Importance of Operations Management to Overcome the Limitations of Data-Driven

Arkieva

An often-heard theme in supply chain management (SCM) and COVID-19 is “data-driven” – being data-driven is the path to success. For COVID-19 “science-driven” is often said in the same sentence. For SCM demand or customer-driven replaces “science”. This blog will point out a few examples in the COVID-19 challenge demonstrating COVID-19 is an OM challenge.

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How to Conduct a Spend Analysis in Seven Steps

Jaggaer

JAGGAER understands the traditional roadblocks to spend management and how important it is to gain insight into operational ineffectiveness in order to improve your sourcing success. A spend analysis allows you to do just that. Can you complete your spend analysis in seven steps?

Your 5-Step Procurement Spend Analysis Template

ProcurePort

Conducting a spend analysis of your company spend is a crucial step in reducing cost in your organization. The post Your 5-Step Procurement Spend Analysis Template appeared first on ProcurePort Blog. Spend Analysis Cost Savings e-Procurement e-Sourcing Sourcing Spend Analysis Software Spend Management Strategic Sourcing

Value Chain Analysis for Superior Supply Chain - SupplyChainOpz

Supply Chain Opz

Value Chain Analysis for Superior Supply Chain. What is Value Chain and Value Chain Analysis? Convenient sampling has been carried out to determine the current practice of value chain analysis, 20 scholarly articles available via Google Scholar are examined and the results are as below, The results, to me, are surprisingly shocking! Actual Value Chain Analysis. Then, Original Porters Competitive Advantage is use as source. NAVIGATE. Basics. Case Studies.

New Data Insight and Analysis Tool, BluIQ by BluJay, Provides Real-time, Actionable Data Views into Supply Chain Applications

BluJay Solutions

BluJay unveils solution that puts configurable, visual data at the fingertips of any user for faster insights, easy analysis, and better decision-making . May 14, 2020 – BluJay Solutions , a leading provider of global supply chain software and services, announces the launch of BluIQ by BluJay, a data and insight analysis tool that offers real-time, actionable supply chain data in a configurable visual dashboard.

How Big Data Analytics is Revolutionizing Sourcing Processes for Walt Charles

Jaggaer

How Big Data Analysis Plays into Procurement. Sourcing with Big Data. Walt Charles’s philosophy on the modern state of sourcing is that it is artificially limited by the tools that teams are using. The traditional three bids and a buy model is a product of software constraints, rather than the ideal method of sourcing. We take shortcuts in our sourcing because of the constraints of Excel,” he says. This will fundamentally change your sourcing abilities.

What Does It Take To Make Sourcing Truly Strategic?

USC Consulting Group

Marketplace pressures have forced procurement professionals to abandon traditional sourcing practices and implement more responsive strategies designed to promote organizational efficiency, agility and flexibility for growth, not to mention cost reductions. For businesses on the outside looking in, it might be difficult to understand how strategic sourcing differs from other long-established procurement practices. The post What Does It Take To Make Sourcing Truly Strategic?

The Pros and Cons: International and Domestic Sourcing

Unleashed

It’s easy to oversimplify the differences between sourcing for parts locally or internationally. When considering where to purchase from, the prevailing idea seems to be that domestic sourcing allows for better control and shorter lead time, but international sourcing is more cost-effective. Let’s compare the strengths and weaknesses of both international and domestic sourcing options. International Sourcing. Reaping the benefits of international sourcing.

Creating a Sourcing and Procurement Process Plan

Arkieva

What are the key elements of a sourcing and procurement process plan? Strategic sourcing is a fact based and systematic approach that organizations use to optimize the management of their supply chain. The process involves making decisions based on facts obtained through market intelligence and analysis. Creating a sourcing and procurement plan. Three essential steps to creating a sourcing and procurement plan. Step 2: Specification and need analysis.

A Guide to Responsible Sourcing in Automotive, Electronics

Material Handling and Logistics

One of the biggest obstacles to setting and implementing strategies for responsible sourcing is accessing reliable and current data and analysis, according to The Dragonfly Initiative CEO, Assheton Carter. The report was co-produced by The Responsible Minerals Initiative, formerly the Conflict-Free Sourcing Initiative is an initiative of the Responsible Business Alliance and is a multi-industry initiative with more than 360 member companies.

What Are the Spend Analysis Steps?

EC Sourcing Group

Going through the spend analysis steps is a very important part of the procurement management process. Read on to learn why cost spend analysis is so important and what the general spend analysis steps are to reduce spend at your company. Spend Analysis Steps : Asking Questions.

Five Causes of Analysis Paralysis You Can Avoid

TMC

It’s a common pitfall at a time when the number of data sources and data points seem to be growing exponentially. Setting unrealistic or unsuitable performance targets can easily put you on the road to analysis paralysis. The post Five Causes of Analysis Paralysis You Can Avoid appeared first on Connect Blog by TMC, a division of C.H. Performance Management Technology Analysis Data PerformanceHow often do you feel like you’re drowning in data?

Understanding Your Sourcing Footprint is the Key to Procurement Analytics

Supply Chain View from the Field

Direct conversations through on-site engagement with different lines of business is the most direct and effective means of understanding how sourcing processes are occurring today, as well as understanding how the sourcing need evolves and is expressed to suppliers. This in turn generated a different analysis of suppliers that resulted in a different set of outsourced relationships with delivery providers that generated significant savings.

Sourcing Offices: a shift of paradigm

KEPLER Consulting

Over last decade, sourcing offices became a major piece within globalized footprint of western retailers. After a first era of development and opportunity catch up particularly positive and characterized by consistent purchasing gains , most of these Sourcing Offices are now searching for their second breath. Back to the origins, the Sourcing Offices have been developed by retailers for two main reasons: #1 Gather demands coming from various entities within a same group.

Contract Analysis leveraging AI – A Technical Overview

ivalua

One of the initial use cases the team is tackling is for contract analysis. . One significant area of Artificial Intelligence is language understanding, also called machine reading comprehension (MRC), and the new technologies in this field lead the way for thousands of new applications, such as sourcing, trend analysis, conversational agents, sentiment analysis, document management, cross-language business development, etc.

Local Sourcing, Global Supply Chain

BluJay Solutions

The recent announcement by Google-owned Motorola Mobility that all new Moto X smartphones sold in the US will be manufactured in Texas, highlights the continued importance of the global supply chain and role of freight forwarders and logistics services providers (LSPs) in successful local sourcing strategies. The post Local Sourcing, Global Supply Chain appeared first on Kewill Corporate.

Applying Porter Five Forces Analysis to Drive Category Management Insights

Supply Chain View from the Field

One of the tools that we’ve used in these engagements is a trusted standby, the Porter Five Forces analysis tool. Data used to conduct a Five Forces Analysis requires a wide array of different inputs, including a spend analysis, supplier analysis, market intelligence, and third party industry reports. I recommend that every sourcing manager take the time to use the tool with their team to draw inferences that may drive strategic planning for the future.

Moving to Continuous Sourcing: Real-Time Opportunity Sensing

LevaData

This explosion has rippled through supply chain and sourcing as access to useable data sources has increased. This data has the potential to revolutionize the way sourcing is conducted. With proper analysis, organizations can get unprecedented insight into their larger operating environments, allowing them to reduce risks and improve margins. Increasing Agility With Cognitive Sourcing. That puts a lot of pressure on sourcing teams.

Leveraging Scenario Planning for S&OP Decision Support

AIMMS

Sales and Operations Planning gartner report S&OP S&OP decision support scenario analysis scenario planningSales and Operations Planning has become the preferred method to facilitate clear and formal communication between the demand and supply sides of a business.

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Measuring Adoption to Drive Sourcing Value

Supply Chain Network

Everyone has bad habits, but for procurement, bad habits can put a major dent it in the ROI of your sourcing tools. That’s because strategic sourcing is complex and challenging – success requires more than fancy software purchases. How many of our sourcing events are run through the system? Without better visibility into the sourcing process, procurement can’t uncover the problems they need to fix.

Sorting out Risk in FinTech Source Chains

NC State SCRC

But emerging technology is now beginning to create new ways to think about sourcing risk, which in the past has been a very manual, encumbered process. This has caused banks to look at the flow of activities in the “source chain”, which refers to the way that third parties use bank data for different opreations. Today, this end to end sourcing process has literally hundreds of different steps in the process. Let’s examine the source chain in more detail.

Why Benchmarking Alone Isn’t Enough for Proper Transportation Cost Analysis

Cerasis

Carriers in the trucking industry and also shippers today are actively looking for ways to combat the rising costs of operating their businesses, but they often do not fully understand proper benchmarking, transportation cost analysis, and profit management are intertwined. Benchmarking as a Hard Rule within Transportation Cost Analysis Can Be Damaging. Profits Need More than Benchmarking in your Transportation Cost Analysis.

Supply Chain Analysis: Your Profitability and the Cost of Oil

AFFLINK

Aside from causing unrest in the money markets, this volatility in oil prices is also affecting the entire dynamic of supply chain analysis and execution. Supply chain managers are having difficulty making short- and long-term decisions, which include the planning of physical distribution networks, the sourcing of supplier and transportation, and operational changes with regard to supply chain mode of transport.

BidMode to join the EC Sourcing Family

EC Sourcing Group

October 13, 2020 / EC Sourcing Group, a leading global provider of SaaS sourcing technology solutions, has announced its acquisition of procurement solution provider, BidMode, with full terms of the merger remaining confidential. About EC Sourcing Group. Morristown, N.J.,

Energy efficiency: Are fossil fuels or renewables the more reliable source?

USC Consulting Group

By just about every measure, natural resources such as these are significantly more efficient than legacy sources like coal, natural gas and oil. “Which energy source gets you the most power delivery for your investment dollar? ” It raises an interesting question, however: Which energy source is the most efficient of them all? Germany is hoping that by 2030, approximately two-thirds of its energy will derive from sources like wind and solar.

Five Causes of Analysis Paralysis You Can Avoid

TMC

It’s a common pitfall at a time when the number of data sources and data points seem to be growing exponentially. Setting unrealistic or unsuitable performance targets can easily put you on the road to analysis paralysis. The post Five Causes of Analysis Paralysis You Can Avoid appeared first on Connect Blog by TMC, a division of C.H. How often do you feel like you’re drowning in data?

What Is ABC Analysis In Inventory Management?

Abivin

ABC analysis of inventory is the classification of a group of items in decreasing order, based on their value to the business. With the help of ABC analysis, managers can focus their time on other valuable products and adapt their inventory control policies accordingly. Source) 1. The 80/20 rule of ABC analysis The Pareto principle or 80/20 rule, specifies that 80% of consequences come from 20% of the causes, asserting an unequal relationship between inputs and outputs.

Strategic sourcing and ‘big data’

ivalua

Big data is more than a buzz term, and if you are a strategic sourcing professional, it is a concept that should not be ignored. As a sourcing professional, big data can help you automate and streamline your job – if you have the right tools. This magnifies drastically when you multiply across all of sourcing, as well as suppliers, engineers, and managers. But the useful gathering, presentation, and timely analysis of the data are keys to your success.