Why Supply Chain Managers & Procurement Should Collaborate

Cerasis

The roles of logistics and procurement in an efficient supply chain cannot be overstated. According to Paul Myerson , reports Industry Week, up 70 percent of a company’s costs come from procurement and logistics operations. Meanwhile, this large volume of expenses is directly related to 80 percent or a company’s working capital via inventory and accounts payable. So, why do supply chain managers not take advantage of this data with respect to procurement?

Is Inventory Waste or an Asset?

Supply Chain Shaman

Next week is the annual Supply Chain Insights Global Summit , and summit preparation is on my agenda for the weekend. We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. We feel so strongly about this that we do not have an inventory planning role.” Inventory is both.

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Five Things I Have Learned About Global Supply Chain Planning

Supply Chain Shaman

Regional supply chain companies are attempting to define global requirements. They are well versed in requirements for regional supply chain planning, but they are attempting to redefine their processes and be more global. Initially companies believe regional planning systems easily adapt to become global, but they quickly learn otherwise and hit roadblocks. This allows shared services of procurement and transportation to function smoothly to achieve the economies of scale.

Procurement Interview Questions & Answers

Supply Chain Game Changer

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. Check out this list of 25 Procurement and Purchasing questions and answers. Subscribe Here! Email Address.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

I find that in this world of the global multi-national that procurement processes have become convoluted and increasingly complex. (In In my opinion, we have made procurement increasingly complex without adding value. In my research, I find that the companies with the most progressive procurement processes also have the most advanced customer supply chain process evolution.)Without The Supply Chain Insights Global Summit is different for many reasons.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory Optimization is defined as a method of balancing the manufacturers’ capital investment constraints and goals along with the defined service-level goals over a large assortment of stock-keeping units (SKUs) while considering all demand and supply volatility situations. It includes the practice of having the right levels of inventory to meet your target service levels while keeping a minimum amount of capital locked for inventory.

Supply Chain Financing: Liquid Inventory That Keeps Things Moving

NC State SCRC

I thought it would be useful to present some interesting insights for those who are new to the term “Supply Chain Financing” As defined by the Global Supply Chain Finance Forum in its standard terms and definitions, Supply Chain Finance is defined as the use of financing and risk mitigation practices and techniques to optimize the management of the working capital and liquidity invested in supply chain processes and transactions.

Optimizing Liberty Global’s Supply Chain: An Interview with Willem Vesters

AIMMS

Liberty Global is the world’s largest international TV and broadband company with operations in more than 30 countries. We had the pleasure to speak with Willem Vesters, Liberty Global’s VP Global Supply Chain Planning, to learn more about their optimization journey. These days, I head up the Supply Chain Planning division at Liberty Global. Visibility into the Network side of the business was limited to the company’s engineering and procurement department.

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Changing the face and pace of procurement

Requis

But very little real and lasting changes were made to make the procurement process more efficient. Sure, I adapted to meet my customers’ needs and the many changing faces of business during those times, but the actual job of a Procurement Manager largely remained the same. I am passionate about procurement, which is why I am a Fellow of the Chartered Institute of Procurement and Supply (CIPS). However, I am concerned about the future of strategic procurement.

5 ways ERP improves inventory visibility in your supply chain

OptiProERP

Inventory visibility is one of the critical aspects of any manufacturing business. It helps organizations understand how much inventory is available, at what location , and at any given point of time. To ensure inventory visibility, you should have access to view, manage, and update your inventory status from trusted software. What Improved Inventory Visibility does. Inventory ties up money. How ERP Improves Inventory Visibility.

Podcast: Procurement Expert Alan Dunning on Digital Transformation

Requis

On episode 7 of Supply Chain Next, host Richard Donaldson speaks with Alan Dunning, Principal Supply Chain Manager (Procurement & Contracts) for Worley. Worley is a leading global provider of professional project and asset services for the energy, chemicals and resources sectors. Alan Dunning has been in procurement for almost 40 years, and has spent the last 20+ years doing project procurement management. Advice to new procurement professionals.

Experts Discuss How to Streamline Global Supply Chain

Supply Chain Opz

Companies of all sizes have been capturing the value from Global Supply Chain to increase the economies of scale and scope for years. Due to the rapid change in global business environment, managers find it difficult to gain the edge over competitors. In this article, we will show you tips from worldwide experts that you can use to streamline your global supply chain operations. We believe many practices in global supply chain management can be applied in every industry.

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Top 10 Global Supply Chain Risks

Supply Chain Game Changer

Inventory Turnover Breakthrough … Go Back To The Basics! Understanding the top 10 global supply chain risks can work to reduce their impact. on a scale of 1-10 regarding its concern for the impact on global trade. As explained by Lucy Dixon of Supply Chain Digital , economic instability represents another threat to global trade. However, global climate change indicates tropical storm threat is on the rise. Know the top risks in global freight management.

The Supply Chain Detective™ and the Inventory Turnover Mystery!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! As I settled into the job and started learning, and studying, the various Supply Chain metrics I was surprised when I looked at the Inventory Turnover performance of the company. Looking at recent and historical Inventory performance I could see that turnover always stayed around 5-6 turns with little variation. There was no mentorship given to promote the team and raise visibility to inventory. Subscribe Here!

5 Procurement Questions for Santa

Jaggaer

After pulling a few strings, we managed to catch Santa on one of his few coffee breaks at this busy time of year to fire five burning questions at the reigning world champion in procurement. To get a grip on all the orders, I use JAGGAER, a globally recognized for procurement optimization. I especially use the solutions for complex logistics: Vendor Managed Inventory, call-off, Kanban, and more. The post 5 Procurement Questions for Santa appeared first on Jaggaer.

How The Coronavirus Epidemic is Throttling Global Supply Chains

Logistics Bureau

Containers are piling up in ports, international shipping has been hammered, Western companies are battling to source products from traditional suppliers, and disruptions are being experienced throughout the global supply chain. Once China was hit by a Coronavirus epidemic and factories ordered closed, it was inevitable that global supply chains would be affected. COVID-19 Impact on Procurement.

5 Global Transportation Themes to Look Out for in 2015

Talking Logistics

Two major shifts are changing the face of global transportation management as we know it: Supply chains are becoming increasingly complex, relying on partners and data beyond the four walls of the enterprise; The very definition of global transportation management is broadening and expanding well beyond the traditional TMS scope. End-to-end supply chain visibility at the item level leads to a better picture of where inventory is.

The Politics of Global Oil

Supply Chain View from the Field

All of a sudden, what seemed like a boost to the global economy has caused consternation and worry among economists, as the recognition that the oil supports jobs across a number of important sectors. Rather, their worry is more on the state of the global economy, and the fact that China and India’s GDP continues to drop. In such cases, it is likely that there will indeed be the beginnings of a global recession.

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.

Webinar: BRISTLECONE LIVE! Let’s Talk Analytics: Spend, Inventory, S&OP and Plant Maintenance – Tuesday, July 21, 10 am PT

Bristlecone

Managing demand volatility, controlling spend, achieving end-to-end visibility, optimizing inventory – these are all made possible through advanced analytics. session, Bristlecone’s VP of Global Practices, Prashant Kamat, and Head of Insights and Analytics, Pankaj Rastogi, give you a glimpse into how supply chain data analytics can empower businesses with rapid, KPI-driven 360° insights. Analytics Drivers in Spend, Inventory, S&OP and Plant Maintenance Operations.

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Procurement Trends 2019 – what’s your priority?

Eyvo

There is no shortage of predictions from procurement experts and companies. Anyone can purchase products and services so procurement, as a department, has the challenge of showing value in every aspect of their existence. The race for procuring, pun intended, the best talent has been challenging. Most experts would agree that the problem will only increase with the growing impact of globalization, gig-economy practices, changing technology, and more demands on communication.

Inventory Turnover – A Formula For Achieving Game Changing Results!

Supply Chain Game Changer

As we have discussed in other blog posts we have tackled Inventory Turnover several times, amongst many other challenges. Your challenge may be trying to improve Inventory performance or trying to create a transformational improvement in some other area. Global Goal Alignment. However to drive your transformational change project you need to focus on a single, global goal. Additionally you need to ensure that everyone is aligned around the global nature of the goal.

Seasoned Leadership in Action™ – An Interview with Kristie Syndikus, VP Procurement at Maple Leaf Foods!

Supply Chain Game Changer

This interview is with Kristie Syndikus, VP of Procurement at Maple Leaf Foods. It was very easy to see early on that Kristie had a great aptitude for Procurement and Sourcing. Kristie Syndikus, VP Procurement at Maple Leaf Foods. At one point I was given a challenge to achieve Industry leading breakthrough results in Inventory performance , in a short period of time. Here is our interview with a truly Global Industry leader, Kristie Syndikus! Subscribe Here!

HCL Tech signs global alliance agreement with JDA Software Group

Supply Chain Network

From IIFL: “HCL Technologies, a leading global IT services provider, announced today that it has signed a global alliance agreement with the JDA Software Group, Inc, leader in supply chain management. The alliance addresses the unique supply chain challenges for business in the areas like planning, procurement, production, distribution, warehousing, inventory, transportation and customer services.

Dispelling Three Common Myths about Global TMS Deployment

Talking Logistics

But even as more and more businesses get wise to the advantages of a TMS, many large, multi-national corporations have remained on the sidelines, unwilling to believe in the existence of a truly global TMS that could meet the needs of complex, widespread companies. So allow me to play “Mythbusters” and shatter some of these long-held stereotypes about global TMS implementations. . Myth #2 – TMS providers don’t offer a truly global solution.

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Procurement Trends 2019 – what’s your priority?

Eyvo

There is no shortage of predictions from procurement experts and companies. Anyone can purchase products and services so procurement, as a department, has the challenge of showing value in every aspect of their existence. The race for procuring, pun intended, the best talent has been challenging. Most experts would agree that the problem will only increase with the growing impact of globalization, gig-economy practices, changing technology, and more demands on communication.

The View from Houston: DHL Global Energy Conference 2015

Supply Chain View from the Field

I had the opportunity to speak to a group of oil and gas executives at the DHL Global Energy conference this week, held in the Petroleum Club. The conference was a great opportunity to interact with logistics and procurement executives in an environment of open dialogue and discussion. All of a sudden, everyone is “knocking on the door” of procurement and logistics, asking for cost improvements.

Why Ignoring Automated Inventory Management is Killing your Supply Chain

EazyStock

Inventory management. Automated inventory management is nothing new to huge, enterprise-sized companies. However, small- and mid-sized businesses have only recently been investing in this new automation for their inventory management – and many SMBs are still hesitant about investing in this new technology. So what exactly is automated inventory management? Excuses for not Automating Inventory Management. Benefits of Automated Inventory Management.

How AI Solves the Riddles of Inventory Management

Aera Technology

by Kaushal Dave, Vice President of Cognitive (AI) Solutions, Aera Technology The problems that pervade inventory management are well known: Excess inventory languished in warehouses, tying up millions of dollars in working capital. Multinationals employ thousands of planners and spend millions of dollars on alphabet soup of software to manage inventory and other links in the supply chain, from ERP, MES, MRP, CRM and WMS to planning and logistics tools.

The Procurement Economy in 2019: Bracing Yourself for the Future

Jaggaer

As we’ve explored in our last two blog posts, economists are predicting a decline in global economic growth due to policy and trade issues both in the United States and the European Union , bringing an increased risk to supply chains and procurement organizations. This also required creating a flexible supply chain by creating preferred responses to possible changes, as well as realigning inventory in order to free up cash. Procurement Resources

Job opening: Global Supply Chain Director at Océ

Supply Chain Movement

Global Supply Chain Director. Your role as Global Supply Chain Director. A new global Manufacturing structure with new operating models has been created. Within this organization, you are responsible for global supply chain management activities across geographies (Netherlands, Germany, Canada and Singapore), successfully driving supply chain strategies and policies ensuring availability and on time delivery of products (print systems, parts, and OEM) to customers.

Integrated Supplier Management Boosts Performance

QAD

This is unlike the scenario where manufacturers rely on manually intensive efforts to exchange procurement information or the case where supply information resides within multiple disparate systems across the manufacturer and supplier.

Procurement Technology: An Update from Spend Matters in Baltimore

NC State SCRC

Today I travelled to Baltimore to attend the ISM/Spend matters Global Procurement Tech Summit. I will be speaking on procurement analytics tomorrow, but got to attend a set of great sessions over the first half of the day. The first speaker was Anne Rung, Administrator from the Office of Federal Procurement Policy. Next up was Dan Carrell, Vice President of Global Procurement at IBM.

Patrick Hopkins at Coupa: Coca Cola’s four truths of procurement to pay in action

Supply Chain View from the Field

At the Coupa INSPIRE procurement conference in San Francisco this week, the Chief Procurement Officer of Coca Cola Consolidated, Patrick Hopkins, shared his views on the “4 Truths of Procurement”, and how he has operationalized his views through the deployment of Coupa procure to pay software. The invention of the Contour bottle also came out in 1916, and in 1919, investors took Coke global.

How Does Procurement Create Value? Insights from CPO Speakers at Zycus Horizons Conference

Supply Chain View from the Field

In addition to the procurement executives, I also got to meet Captain Dick Phillips, the captain of note in the film “Captain Phillips” We had a chance to talk about his experience, and he also presented to the group about the incredible experience he went through. Chris Sawchuck from the Hackett Group interviewed three heads of procurement from three large companies, and asked an important question. Does procurement add to top line revenue.