If Multi-sourcing is a Best Practice, Why Are so Few Companies Doing It?

Logistics Viewpoints

Because of the pandemic, risk management surrounding sourcing has become top of mind. Companies need to ensure they have alternate sources of supply that can ramp up to the volumes needed. This best practice urges companies to examine not just the cost of the sourced products, but also to understand the risks associated with not multi-sourcing key components. The post If Multi-sourcing is a Best Practice, Why Are so Few Companies Doing It?

Is Single Sourcing, or Sole Sourcing, Dead?

Supply Chain Game Changer

In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels. As we progress through and past the pandemic, is it time for Procurement to adopt parallel Supply Chain strategies, such as dual sourcing, and limit or abandon single sourcing and sole sourcing? What is Single Sourcing or Sole Sourcing?

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What Does “Good” Look Like: Strategic Sourcing

ivalua

That leaves the vast majority of companies and teams in the middle – and each one of them is working hard every day to be as good as they can given their current priorities, challenges and resources. So what does “good” strategic sourcing look like? The primary difference between Strategic Sourcing and “good” Strategic Sourcing is contextualized flexibility. Good” strategic sourcing…. Once again, up-front exploration expands the value proposition of sourcing.

Transportation Sourcing in an Omni-channel World

Talking Logistics

Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing? According to Joe, enVista’s Director of Transportation, “The key to omni-channel sourcing is that it requires you to understand your goals and objectives.

CIO: Here's Why Analytics is Eating the Supply Chain

Life science companies are adopting innovative cloud technology to provide a single source of truth for end-to-end supply chain decision-making

Best-Cost vs. Least-Cost Sourcing

Talking Logistics

A month later, Walmart announced that it will increase its sourcing of US products by $50 billion over the next 10 years. Kevin is currently the Senior Vice President for Supply Chain Effectiveness at Breakthrough Fuel , but prior to that he was the Senior Director of North America Logistics Operations at Whirlpool, another company that decided to invest in US manufacturing a couple of years ago (see “ Whirlpool, On-Shore Production, and Employee Talent ”).

Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. In order to achieve maximum efficiency in freight sourcing and procurement, you need a strong team to handle the requirements. These are the must-haves for any effective freight sourcing team. Subscribe Here! Email Address.

Research in Focus: Sourcing Trends and Concerns

Talking Logistics

Below is an excerpt from a report published recently by Amber Road and the American Association of Exporters and Importers (AAEI) titled “ The Trade Trends Report: 2017 Report on Sourcing, Trade, and e-commerce.” companies during July and August 2017, with a balanced mix of respondents representing the various types of importers and exporters today. This bring concerns for transportation costs as we see as the #2 area of importance for sourcing.

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

How Can Advanced Sourcing Help Your Business?

EC Sourcing Group

Sourcing is the term used when the purchasing department is searching for the right supplier (or group of suppliers) to fill a particular need, typically a good or service, to fulfill a purchasing order. Advanced Sourcing Optimizers and Tools: What Are Your Sourcing Challenges?

Pacific Drilling Selects Consus & Ivalua to Drive Sourcing Best Practices Globally

ivalua

Offshore ultra-deep water drilling company to deploy eSourcing globally across its purchasing function. Pacific Drilling, an offshore drilling company, provides global deep water drilling services to the oil and natural gas industry through the use of high-specification drillships. The company has corporate offices in Houston, Texas, with offices in Brazil, Luxembourg and Nigeria. Sourcing consus global e-sourcing source to pay sourcing

How transparency in the supply chain leads to sustainable sourcing

Pivot88

According to McKinsey’s 2019 chief purchasing officer (CPO) survey, sustainable sourcing at scale is the fashion industry’s new must-have. Where do they source their products? The post How transparency in the supply chain leads to sustainable sourcing appeared first on Pivot88.

Is “In-Sourcing” the Answer to Rigid, Enterprise Software?

The Network Effect

As I mentioned in a recent post, Total Disruption on the Horizon , many companies are becoming increasingly disillusioned with traditional enterprise software, because it is inherently enterprise-centric, and can not adapt to meet the challenges of today’s supply chain and consumer behavior. ” Source: “Target CIO Adds Custom Apps…” CIO.com. Source: “Target CIO Adds Custom Apps…” CIO.com.

USMCA and the Role of Cognitive Sourcing

LevaData

However, a large majority of leaders feel that the agreement will have a positive effect on long term company growth. With regard to how companies plan to mitigate cost increases, the strategic focus is on renegotiation with suppliers and finding cost savings in production.

New Supplier Registration Process – E-Sourcing

TPSynergy

As part of the Supply Chain Management, an important task of the sourcing team is to identify and Onboard new suppliers regularly. Company Information – General information about the company like Name of the company, Corporate web site.

The End of Single-Source Supply Chains

Supply Chain Brain

In a post-COVID-19 world, no smart company can rely solely on China for its manufacturing

China 85

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.

Intalere Selects Consus & Ivalua to Drive Source to Contract Best Practices

ivalua

Healthcare supply chain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. has gone live with Ivalua’s Source to Contract solution. Intalere is a provider-led healthcare supply chain company that empowers healthcare organizations to elevate their clinical, operational and financial performance in today’s evolving world. Healthcare Source-to-Contract

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. Molycorp, a key producer in the 1980s, and other companies shipped their oxides to China for refining and value-added production into metals, alloys, and magnets. sourcing #rareearthelements. Subscribe Here! Email Address.

Freight Procurement in a Pandemic: Preparing for the Bid

CHAINalytics

If your company has decided to tender its freight to secure new contract rates for 2021, you’ve got your work cut out for you. This is especially true when it comes to figuring out the lanes and volumes to include in the bid.

Make Better Logistics Sourcing Decisions with Data-Driven Optimization

Talking Logistics

Over the past few years, as supply chains have grown in scale and complexity, so has the logistics sourcing process. Mature sourcing organizations, which have been doing traditional sourcing and category management, are starting to plateau in terms of savings and impact to their organizations, yet each year are faced with increasing savings mandates and pressure to improve performance. How are companies achieving better outcomes by using data-driven optimization?

Strategic Sourcing: The Key to Competitive Advantage

Supply Chain Opz

Strategic Sourcing has been used by companies of all sizes for years. Introduction Long gone are the times when a company could rely on its own strengths and ensure its competitive advantage. In many companies, purchasing thus underwent a significant shift from being rather transactional and tactical, to a more strategic function, able to influence company growth. This commentary highlights some of the key principles to strategic sourcing.

What is Sourcing? Your Procurement Guide

ProcurePort

A lot of people often use the terms procurement and sourcing interchangeably. Procurement is best described as the business of obtaining the raw materials needed by a company. Sourcing, on the other hand, is the operational process concerned with finding and vetting all […].

Sourcing and Procurement in Supply Chain Management

EC Sourcing Group

Sourcing and Procurement in Supply Chain Management. The terms “ sourcing” and “procurement” in supply chain management are often used interchangeably, although they are not quite the same. It refers to the entire process of sourcing and contracting with suppliers to gather all of the services and goods you need to make that final product. Sourcing is but one step in the procurement process. Sourcing and Procurement in Supply Chain Management : Finding the Right Tools.

Does Your Company Have A Solid Transportation Procurement Strategy?

Logistics Viewpoints

There is a need, a growing need to drive better performance and outcomes from sourcing events. Procurement/Sourcing Transportation Transportation Management Systems transportation sourcingThe logistics marketplace is dynamic and demands attention to truly optimize and enable strategic advantage. Supply Chain professionals have a tremendous amount of demands and pressures to be aware of and transportation procurement is one of those pressures.

Why Large Companies Increasingly Opt for 4PL Services

Logistics Bureau

SUMMARY: Because 4PL providers handle a company’s entire chain, including challenges that are thrown up by advances in technology, they are increasingly being favoured over third-party logistics (3PL) providers, especially by big companies with complex supply chains.

Understanding the Importance of Strategic Sourcing

USC Consulting Group

Sourcing is a key component of your Supply Chain – perhaps the most important part. As companies are navigating an increasingly turbulent yet robust economic climate, businesses in manufacturing, mining and metals, food and beverage, and other industries are looking for ways to reduce raw material procurement spending and offset rising material costs. That’s where Strategic Sourcing comes into play. An important lever for modern organizations.

Outsourcing Sourcing! 5 Lessons from Around the Globe!

Supply Chain Game Changer

Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals. But beyond that he had no idea on where to start to source his product. Large companies can afford to have Strategic Sourcing Procurement staff around the world. However small companies, and many mid-size companies, can not afford to make this kind of investment in resource and structure. Subscribe Here!

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!

Procurement Leading Pharmaceutical Companies Through the Pandemic

Jaggaer

Some 48 active pharmaceutical ingredients (APIs) vital to the pharma supply chain are sourced from the central province of Hubei. View our recent webinar and learn how Italian pharmaceutical company Angelini navigated through supply chain disruption.

5 Reasons Supply Chain Companies Need to Be Curating Content

Cerasis

Sharing content from third-party sources establishes supply chain companies as a go-to resource for all things related to your industry, sector, products, or services. Using third-party social media posts, blogs, videos, and more, supply chain companies can enhance their content marketing efforts by distributing information that is readily available. Here are five benefits of content curation for your company. 5 benefits of curating content for supply chain companies.

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.

Podcast: Rob O’Byrne on Digital Transformation, Sustainability, and Diversification in Sourcing

Requis

He has been helping companies design more profitable supply chains for over 25 years, most of them as founder and CEO of Logistics Bureau. A lot of companies now will have regional hubs with just smaller satellite warehouses in each country. Will people change their sourcing strategies?

Customer Service: The Source of Supply Chain Innovation

The Logistics of Logistics

Customer Service: The Source of Supply Chain Innovation. In December’s issue of InBound, editor Keith Biondi cited customer service as the source for supply chain innovation. BPR has undoubtedly led to many efficiencies and improved effectiveness at numerous companies. Customer Service: The Real Source of SCM Innovation. The post Customer Service: The Source of Supply Chain Innovation appeared first on The Logistics of Logistics.

Intalere Selects Consus & Ivalua to Drive Source to Contract Best Practices

ivalua

Healthcare supply chain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. has gone live with Ivalua’s Source to Contract solution. Intalere is a provider-led healthcare supply chain company that empowers healthcare organizations to elevate their clinical, operational and financial performance in today’s evolving world.