What Does “Good” Look Like: Strategic Sourcing

ivalua

If you have ever read an article about Procurement best practices, you know that a very small minority of teams are categorized as leaders and an equally small minority are considered laggards. So what does “good” strategic sourcing look like? The primary difference between Strategic Sourcing and “good” Strategic Sourcing is contextualized flexibility. Good” strategic sourcing…. a dynamic process led by informed and capable Procurement Professionals.

Sourcing – What You Need To Know About Coronavirus Supply Chain Disruption

Gravity Supply Chain

Sourcing: Mitigate risk during periods of supply chain disruption, such as those caused by the Coronavirus outbreak, by using digital technology. . The post Sourcing – What You Need To Know About Coronavirus Supply Chain Disruption appeared first on Gravity Supply Chain.

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Vanilla Sourcing in Madagascar

SCM Research

The case is also included in an article I have written about the interface between SCM and CSR. Practice Africa Corporate Social Responsibility Procurement Relationship Supply Chain Management Supply Chain Sustainability Video In a previous post, I demonstrated how Symrise creates added value beyond corporate boundaries by closely collaborating with vanilla farmers in Madagascar.

The Science and the Art of Procurement

ivalua

As we move towards a new decade is the emphasis in the procurement world changing – are we going to see a new age, where the Art of Procurement comes to the fore? Much of our focus in the last twenty years or so within the procurement profession and within our specific procurement functions has been on what we might call the “Science of Procurement”. Author: Peter Smith , Managing Director at Procurement Excellence Ltd.

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

We need to look at alternative sources of procurement, of production, alternative factories, alternative countries. In the longer term he says they are focused on “Diversification of sourcing, reducing the dependence of single-source suppliers, and developing relationships with the key partners or IT [vendors] … and invest like no other into demand planning and control towers to give us the most fine-tuned information,” and ability to start making “crystal-ball like” predictions.

Time to Rethink Sourcing Rare Earth Elements

Supply Chain Game Changer

Strategic National Stockpiles and Sourcing for the National Interest! Rare Earth Elements article, and permission to publish here, provided by Joe Carson and Shubho Chatterjee. 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. sourcing #rareearthelements. The post Time to Rethink Sourcing Rare Earth Elements appeared first on Supply Chain Game Changer™.

Procurement Terminology is a Mess!

Supply Chain Game Changer

Procurement language article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. From one Procurement organization to the next, terminology differs. Source: CIPS. Source 2 Pay. But, what is Source-to-Pay?

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

A new face of procurement is emerging which is recognizing that a new set of value drivers must be developed in the face of massive environmental changes. Some of the emerging views on the “future of procurement” focus on the importance of being a strong internal consultant, the importance of building relationships, coaching suppliers, post-award contract management, and relational contracting. Vested is a Sourcing Business Model in.

Category-based Procurement

Claritum

Claritum Article - Procurement Blog. Project and Category Procurement Differences. Category-based Procurement Examples. The Inherent Challenges of Category-based Procurement. Characteristics of good Category Procurement Activity. Associated articles. This is the third article in a series. The first two articles covering Bespoke Procurement and Project-based procurement. Project Procurement. 8 Associated articles.

Project Based Procurement

Claritum

Claritum Article - Procurement Blog. Project and Category Procurement Differences. Table of the key differences between Project and Category based procurement. Types of activity suitable for Project based procurement. The inherent challenges of project-based procurement. Characteristics of good Project Procurement activity. Associated articles. Project-based procurement occurs when there is a specific project activity and goal.

Diversity of Supply Article – US centric

Claritum

Claritum Article - Procurement Blog. million people are employed by 909,000 of these minority owned businesses (Source: www.mbda.gov). Source unknown). Many medium sized businesses are also looking at diversity in their supply chains, for the reasons explained in this article. And, there are financial tax breaks available to both the sourcing company and the supplier. See additional article on managing diversity in the supply chain: [link].

Responsible Sourcing! Making Sustainability Happen for Real!

Supply Chain Game Changer

Article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. It’s become the keyword that you see in article titles and hit like or share when scrolling by?—?so Sustainability is created at the source of our products, services, and consumption. Sustainability is created from Responsible Sourcing. How can you make Responsible Sourcing a Reality? in this case, responsible sourcing. Source Smarter.

The Hitchhiker’s Guide to Digital Procurement!

Supply Chain Game Changer

Digital Procurement article, and permission to publish here, provided by Sam Jenks at kodiakrating.com. It’s important that procurement teams take into account the new risk reality and challenges that face them, their organizations and their value chains. Source: Paua Ventures.

Featuring Our 12 Best Procurement Articles!

Supply Chain Game Changer

Procurement is a core function in every single company. Whether purchasing goods or services to support the company’s product offering or purchasing goods or services to support the infrastructure and operation of the company, Procurement is key. Depending on the type of industry you are in the Procurement of goods and or services can be the largest, or one of the largest, expense areas. What Exactly is Procurement? What Exactly Is Procurement?

Procurement Interview Questions & Answers

Supply Chain Game Changer

Article and permission to publish here provided by Nikita S at [link]. Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Which are the key Procurement metrics?

Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. But there is a profoundly significant Procurement value chain. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Procurement is strategic! Now is the time for Procurement to SELL!

Digitized Procurement: Your Setting-off Point to Autonomy

Jaggaer

In five to ten years, procurement in many of the world’s leading companies will be “truly digital”. They will have succeeded in transforming their procurement organizations to leverage artificial intelligence-based technologies to achieve autonomous procurement. Autonomous Procurement: The Reality versus the Hype. Over the coming months, we will identify and describe the four levels of development stages on the road to autonomous procurement.

Artificial Intelligence to Improve Decision-Making in Procurement

Jaggaer

Our recently published report, “ Digital Transformation in Procurement: How Close Are We? ”, which is based on a global survey with responses from 391 CPOs and other senior procurement decision makers, showed that most progress had been made with the automation of supplier management, procure-to-pay and spend management processes. Strategically, a digital assistant simplifies strategy development and execution within the procurement function.

Technologies that Impact Procurement

Claritum

Claritum Article - Procurement Blog. Technologies and Procurement Table. There are a lot of articles around on what Procurement needs to do; how Procurement needs to change; and how technology will fundamentally change Procurement. This article summarises, as a table, technology areas that impact on Procurement that you might need to investigate. 2 Technologies and Procurement Table. Virtual Procurement Agents. Sourcing.

IKEA’s IWAY Lessons For Procurement!

Supply Chain Game Changer

IKEA article originally published by, and permission to publish here provided by, Sam Jenks at [link] . Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management.

Procurement Experiences, Trends and the Future!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? We have worked in hundreds of different industries and spend areas over many years in thousands of procurement projects.

Why The Time Is Now for Sustainable Procurement

Jaggaer

Earth Day (April 22nd) is a celebration of commitment to creating a safer, healthier and cleaner world, making it a natural time to reflect on the power and value of sustainable procurement programs. With that, global businesses are committing to key sustainability objectives such as reducing greenhouse gas emissions , eliminating slave labor , avoiding plastics , conserving water used in production , tapping into renewable energy sources and more. Procurement at the pivot point.

Procurement Bots – Transformer or Destroyer?

Supply Chain Game Changer

Article created and originally published by, and permission to publish here provided by, “SK” Sanjeev Kumar Roy. Check out What Exactly Is Procurement? The following characteristics make a process more-bot-able: Which areas of Procurement are more “Bot-able”?

Procurement & Suppliers: Paying Attention to Terms & Conditions to Keep Supplier Relations Postitive

Cerasis

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". As I’ve mentioned in previous articles supplier relations are an essential component of a sustainable and functional supply chain. Procurement

Why Strategic Sourcing and Supplier Management Can Make or Break Your Customer Experience

ivalua

However, few manufacturers ever sit back and ask, “How can our procurement or strategic sourcing initiatives contribute to the overall customer experience?” I would argue that, if you’re in manufacturing, strategic sourcing is the first place to start shaping the customer journey. In manufacturing, it is the strategic sourcing group that finds the best component parts for new product introductions. This problem appears to be the result of sourcing choices.

Procurement and the Need for Speed

ivalua

In my last two articles ( here and here ) I’ve been talking about the need for Procurement to think about how we can move beyond our historical transactional role and embrace approaches to help drive competitive advantage and real value for our organisations. What is also particularly interesting given the topic of our last article is that much of the innovation which led to this improvement came from close collaboration between the teams and their supply chains.

Procurement Technology – What it can and can’t replace in a Manufacturer’s Journey Towards Supply Chain Resilience and Agility

ivalua

A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. Supplier Data is at the core of every procurement activity, and it is critical for those dealing with direct materials in manufacturing.

5 steps for Procurement to impact on financial results

Claritum

Claritum Article - Procurement Blog. Address Procurement Strategy. Focus Procurement on supplier optimisation. Don’t lose Procurement’s focus on costs. Keep Procurement up to date. It is procurement at the heart of any impact on P&L. Articles

Procurement Terminology is a Mess!

Supply Chain Game Changer

Hey Procurement! Article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. From one Procurement organization to the next, terminology differs. Procurement is a function, that is undergoing transformation; technologically and ideologically. Maybe we are camouflaging procurement with language: if no-one else understands what we do (or say) we will be safe from being replaced or consumed by other functions.

Technology + Human Touch = Digital Supply Chain Excellence

Gravity Supply Chain

There’s no need to do the maths; we’ve got the answer for you! The post Technology + Human Touch = Digital Supply Chain Excellence appeared first on Gravity Supply Chain.

Tools 52

Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Procurement is strategic! Now is the time for Procurement to SELL! The Procurement Value Chain Continuum. Procurement 101.

A Seat at the table – Procurement’s Search for Enhanced Visibility and Influence

HICX Solutions

There are many who have argued that Procurement needs a seat at the C-suite table to ensure that data projects and digital transformation initiatives receive the attention that they require for success. Procurement’s Search for Enhanced Visibility and Influence. “We

4 Reasons to Integrate Order-to-Cash & Procure-to-Pay

OneSCM

Bundling order-to-cash and procure-to-pay functions not only gives companies a holistic view of their supply chain operations, but also improves decision-making and business growth. For sales and operations staff alike, the inability to access current orders, inventory and production information is often a significant source of frustration and waste. In some instances, sales can become risky; procurement staff maintain higher buffer stock levels as a safety net.

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.

Procurement Challenges Condensed

Claritum

Claritum Article - Procurement Blog. I took on the challenge of writing a condensed version of all the current Procurement challenges. Basing this on the many articles I have read covering this subject. I rapidly came to the conclusion that these articles were excellent at the helicopter view of the challenges, however seemed unable to apply categorisation to the challenges. These two procurement domains have distinctly different challenges.