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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. Procurement is a process and one link in the chain of the supply chain. Procurement is one step in that process.

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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. Navigating the complexity of the global supply chain as a procurement professional can sometimes feel like taking a walk through the Amazon without a compass, or entering into outer space without an oxygen tank. Don’t Panic!

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Why You Should Choose Companies with Green Supply Chains

EC Sourcing Group

A green supply chain reduces the harm that may occur at any stage of the procurement cycle—production, purchasing, logistics, material management, or distribution. Read on to learn more about how the best eSourcing software can support green supply chain management, and the benefits of opting for green supply chains. .

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Finished Goods Inventory: Definition & Formula

Unleashed

In accounting, finished goods inventory is the specific number of inventory or manufactured items that you currently have in stock available for customers to purchase. Step 1: Raw materials procurement One of the first activities of a manufacturing business is to obtain the raw materials needed to produce a finished good.

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How to Use Information Technology in Supply Chain Management

EC Sourcing Group

Before the Internet was a vital tool in business, the supply chain was a much different place than today. However, the use of information technology in supply chain management has streamlined the world of procurement and purchasing through supply chain management, cloud software, and other types of IT that help boost supply chain efficiency.

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CPG earnings report: Data technology tackles headwinds, helps meet demand

crisp

They see consumers making smaller trips to stretch their budgets, downsizing to smaller package formats, and buying more when products are on promotion. Kraft Heinz called out tomatoes and sugar prices as problematic but sees labor and transportation costs as the source of most of its inflationary woes.

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Scope 3 emissions, Explained

crisp

Until recently, reporting scope 3 emissions – which include indirect sources that organizations contribute to – has been optional. Scope 3, however, includes indirect emissions from an organization’s business activities, and sources they do not own or control. Example: The tea company purchases a new truck and factory.