Strategic sourcing enters a new age. Are you keeping up? (Part 2)

ivalua

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Improving costs remains a core competency for any sourcing organization. Financing, hedging, and currency plays. The post Strategic sourcing enters a new age.

Five Tips on Sourcing Products From China

EMERGE App

Google a phrase like “sourcing products from China” and you’ll instantly be faced by almost 39 million results! You need to source for products to sell at wholesale prices to your retail customers. A sourcing agency will typically do one of the following roles: A.

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Materials as currency: Provenance tracks a fully-recyclable carpet on blockchain

Provenance

of all US landfill is carpet waste, resulting in 4 billion pounds of carpet not being recycled ( Source: GAIA ). The core purpose of this project is simple: Materials at the end of life have a tradable value – like a currency.

How is technology transforming global sourcing ?

Claritum

Does your business source products and services from global markets? If your company is sourcing goods and services internationally you could be reaping many benefits. However, you could also face many challenges when globally sourcing across geopolitical boundaries.

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.

Blockchain: A Single, Immutable, Serialized Source of Truth

Material Handling & Logistics

When many people hear the word blockchain, they immediately think about bitcoin and crypto-currencies, conjuring up images of hackers and black markets. Acquire the source materials: add a block. And so on, from source to end-customer receipt.

Lost in Translation-Incorporating Consumer Demand into your Supply Chain

The Network Effect

A few years ago, a news report came out of China stating that they were going to put an end to pegging the renminbi (China’s domestic currency) against the U.S. This was a long awaited announcement that completely shocked the global currency markets sparking massive trades out of the U.S.

Independent research reveals how organizations can succeed in a brave new tariff-driven trade world

Kinaxis

by Mike McAllister It sounds ominous, but it’s a brave new tariff-driven trade world out there – a reality senior executives whose organizations operate global supply chains are coming to grips with.

Supplier Financial Health: Don’t Wait for the Worst, Reach out and Talk!

Supply Chain View from the Field

Traditional methods of supplier risk mitigation involve diversifying risk, multiple sourcing, or switching suppliers, which are not effective in situations where entire regions, industry segments, or supply chains are experiencing financial distress. This is particularly of concern in emerging countries, where major shifts in economic conditions bank lending rates, or currency issues increase the likelihood of supplier bankruptcy.

Biogen Idec designs the innovation supply chain

Supply Chain View from the Field

Supply chain has a big focus on the currency of today’s theories being implemented here. We used our existing facilities as currency and asked them if there was a need for you to make large molecule biologics? We built our muscle on supplier management and business cooperation, contract negotiation and sourcing. Joydeep Ganguly from Biogen Ide c spoke in my Supply Chain Relationships class last week, and shared his insights on how Biogen’s supply chain evolved.

Managing supply chains in a fragile environment

Supply Chain View from the Field

Gerard Chick and I had a good chat over skype this morning, and we both started jotting down a few facts… Banks are buying up gold and moving currency out since 2009. Forecasting Strategic Sourcing Supplier Relationship Management Supply Chain Management A friend suggests that the banks feel it is very unstable out there, and are hoping for some stability.

Bitcoin: A New Supply Chain Operating System?

Talking Logistics

But I read an article in this weekend’s Wall Street Journal – The Revolutionary Power of Digital Currency by Michael J. The WSJ article and other sources, such as this Khan Academy video series , explain how bitcoin works, so I won’t go into it here. Source: [link].

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Beyond Spend Analytics: Supplier Life Cycle Data

Supply Chain View from the Field

In sourcing, data must be tracked over the entire life of a supplier. Now think about millions of vendors, and different languages, different country codes, different product SKUs, and different currencies… This is making my head swim… This is going to take a lot more than a big Excel spreadsheet… Analytics Procure to Pay Strategic Sourcing Supply chain analytics Supply Chain Management

An optimist’s view of Blockchain in supply chain: Learnings from Bitcoin

Kinaxis

This is quite fascinating considering the code behind Bitcoin itself is open source. Blockchain is here to stay: For any currency to sustain, those carrying and transacting in it should feel confident in its value.

Blockchain Comes to the Freight Industry

Supply Chain Brain

If you can convince a bunch of transportation neophytes who know nothing about freight that a [crypto] coin can become the currency of the industry, then you can raise whatever,” he says. What’s more likely to happen in the long run is that businesses will fall back on traditional currencies and “fiat-based smart contracts” to fund blockchain efforts, Fuller predicts. Global Trade Management Sourcing/Procurement/SRM SC Planning & Optimization Home Page Latest News Home Page Slider

Struggling with bespoke purchases?

Claritum

Bespoke requirements - key sourcing issues. Sourcing Bespoke requirements the right way. Sourcing of bespoke requirements needs to be managed effectively within an Organisation. Inefficiently sourcing bespoke goods and services can waste a lot of time and energy.

Avoid “Lost in Translation”. Monetize S&OP to Include Finance.

ToolsGroup

One business, where finance was not involved in S&OP, was crushed by a rapid currency appreciation in the Swiss franc that made its products too pricey for the market. Finance speaks a different language than supply chain.

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What are Block Chains? – Jason Busch on the Future of Money, Trust and Transparency

NC State SCRC

Jason started out by discussing the fact that a company ledger is just a source of truth. Over the last few years the number of different sources of information has grown at a logarithmic rate, making it very difficult to synch systems across different parties: SAP, Oracle, JD Edwards, and all the different legacy systems. Most retailers and CPG spend time gathering data from sources to create a demand forecast for suppliers. Barter system led to commodity currencies.

The Messy Reality of Cross-Border E-commerce (Thoughts on UPS Acquiring i-parcel)

Talking Logistics

The i-parcel platform supports merchant’s websites with a local language welcome mat, fraud protection, fully-landed total prices (including customs duties and taxes) in local currency and numerous value enhancing features. Source: Pitney Bowes (click to enlarge).

5 key trends affecting the Consumer Package Goods industry

Kinaxis

b) Commodity price and currency exchange volatility – together they introduce increased unpredictability into the business and make managing shareholder expectations more challenging. These cross regional flows and increased sourcing options add to supply complexity.

Improving Transportation in the Real World

Talking Logistics

Implementing a comprehensive audit, across all modes, geographies, currencies and languages, can achieve this data set. Source. With a solution designed and determined, it’s time to source it.

Recommendations for Managing Supply Chain Risks and Challenges

Unleashed

Check whether it’s possible to source these products from alternate suppliers — potentially from different countries — who are not affected by the issue. Globalisation means that our supply chains are more entwined and complex than ever.

Improving Global Freight Process Management

Talking Logistics

There are many reasons for this including a multitude of additional service providers, currency and language conversions, import and export compliance restrictions, a lack of supply chain data, and the confusing nature of working with and managing disparate technology systems across various global locations. It is a challenge to access and understand the various languages, city naming conventions, and currencies used by various vendors.

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Blockchain and Supply Chain Analytics: Impact of Small to Large Supply Chains

Cerasis

This is an essential step in taking advantage of blockchain technologies, especially cryptocurrencies, which some consumers and supply chain partners will be using within the next few years as a primary currency.

Your supply chain is costing you money – Reason #5 Not having a supply chain risk management process

Kinaxis

If your supplier decides that you need to pay more or global currency exchange rates drive up the cost of a component (and you have no alternatives ready to go) your margins can be significantly impacted. by John Westerveld Reason #5: Not having a supply chain risk management process.

8-Step Importing Guide For First Timers

EMERGE App

This should serve as a general framework to source products from different countries according to their strengths. We’ve got a great guide on sourcing products from China , for example. By the time you source, produce and receive the goods, the trend would have passed.

Supply Chain Planning in Emerging Markets: Four Points to Remember

ToolsGroup

And while each market can be unique, we found a few repeating themes in our own experience and from sources including Gartner and our customers Procter and Gamble (P&G) and Cipla Medpro. Supply chain planning in emerging markets is different.

Toyota and USPS See Opportunities for Blockchain Technology in Supply Chain Management

Talking Logistics

Source: “Blockchain Technology: Possibilities for the U.S. Overview of Fluent Applications (source: Fluent website).

The Future of Procurement Is Upon Us. Are You Ready?

ivalua

Niul Burton wrote a great article in Industry Week titled “Procurement 2025: 10 Challenges that Will Transform Global Sourcing”. Burton predicts that China and Brazil will become hubs for global sourcing.

8-Step Importing Guide For First Timers

EMERGE App

This should serve as a general framework to source products from different countries according to their strengths. We’ve got a great guide on sourcing products from China , for example. By the time you source, produce and receive the goods, the trend would have passed.

Managing the Procurement of Promotional Goods and Services

Claritum

Problems with current sourcing methodologies. Sourcing the right way for Promotional goods and services. However, it is important for companies to manage the process of sourcing promotional goods effectively. Source: PPAI Research. Source: PPAI Research.

Craig Reed from Dupont: Battle Tactics for Technology Innovation

NC State SCRC

He believes the cloud is very important for corporations to think about using multiple sources of touch points into Sharepoint, and other forms of integration into data. With a a merger comes expectations – the expectations is $3B of synergy from these two coming together – and a big expectation for procurement and sourcing. ” The big issues Dupont faces are oil prices, commodity prices, palm oil and currency.

Blockchain can make global supply chains more efficient and secure

The UCLA Anderson Global Supply Chain Blog

There are two sides of a bitcoin: a cryptocurrency that enables anonymous individuals to facilitate transactions using a decentralized digital currency without a middleman (such as a bank or credit card company). [1] Christopher Tang.

Blockchain can make global supply chains more efficient and secure

The UCLA Anderson Global Supply Chain Blog

There are two sides of a bitcoin: a cryptocurrency that enables anonymous individuals to facilitate transactions using a decentralized digital currency without a middleman (such as a bank or credit card company). [1] Christopher Tang.

This Week in Logistics News (May 4-8, 2015)

Talking Logistics

Borderfree manages all aspects of the international shopping experience, including site localization, multi-currency pricing, payment processing, fraud management, landed cost calculation, customs clearance and brokerage and global logistics services. Ever get a song stuck in your head?