Remove Groups Remove Inventory Remove Procurement Remove Sourcing

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.

What Does It Take To Make Sourcing Truly Strategic?

USC Consulting Group

Marketplace pressures have forced procurement professionals to abandon traditional sourcing practices and implement more responsive strategies designed to promote organizational efficiency, agility and flexibility for growth, not to mention cost reductions. For businesses on the outside looking in, it might be difficult to understand how strategic sourcing differs from other long-established procurement practices. appeared first on USC Consulting Group.

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SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

Source: Dictionary.com. 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

Procurement Transformation Delays – The Role of Personality!

Supply Chain Game Changer

Article provided to Supply Chain Game Changer by Katalin Brennan at Eyvo E-Procurement. We’ve all heard of the need for Procurement to embrace the Digital Transformation for many years. There are few procurement-specific personality surveys available. However, I am aware of one from Pierre Mitchell that found the Myers-Briggs ESTJ type is the dominant one in procurement with over 20% of survey takers. There are a number of free sources to do this like 123test.

Manage Procurement Spend Like It’s Your Own Business!

Supply Chain Game Changer

Hey Procurement! Procurement. And all of this is managed by Procurement personnel. In What Exactly is Procurement? we offer the definition of Procurement from PurchasingInsight.com which considers that “Procurement is the overarching function that describes the activities and processes to acquire goods and services” That is a very broad, and all-encompassing definition and scope of responsibility. Procurement Responsibilities.

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.

Top 5 Reasons You Need Procurement Tracking Software

EC Sourcing Group

Once upon a time, companies had to manage purchasing departments and procurement management as though it was the Dark Ages. Procurement Tracking Software and Management Software: What Is Procurement Software? Inventory maintenance. Sourcing.

Parts Are Not Parts

Supply Chain Shaman

A slight change within a function–in sourcing or manufacturing, or along the chain–can greatly impact the outcomes of cost, customer service, or working capital. Days of Inventory by Industry Across Years. Let’s take a closer look at sourcing.

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Do You Understand Your Chief MRO Inventory Challenges?

Logistics Bureau

If your company is in the business of maintenance, repair, and operations, you should already be aware of the strengthening trend in service as a source of value , both in business-to-business and business-to-consumer marketplaces. Given this knowledge then, does your organisation place enough importance on the management of MRO inventory? If yours is one of them, and you’re wondering where and how to start getting a grip on MRO inventory, this post might help.

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.

Florence Et Al.

Supply Chain Shaman

To prepare, stratify your suppliers into strategic, single source and high volume flows. Attempt to find alternate sources from geographical areas that are not projected in the path of Florence. Thirty percent of companies have supplier development groups.

European Supply Chain Directors Forum 2016

Supply Chain Movement

Organisation: Accucore Group. The event is comprised of an agenda of original case studies, inspirational keynote sessions, interactive workshops and specialist working groups. Our members include: VPs/Directors/Group Heads in: Supply Chain. Procurement. Sourcing. More information>> Events accucore group collaboration corinthia hotel culture European supply chain directors forum event Forum manucore Prague Procurement supply chain transformation

Winning Student Posters Focus on Visibility, Total Cost of Ownership, and Procurement Processes

Supply Chain View from the Field

Bayer Crop Science – Internal Procurement Audit – Undergraduate Team: Hamilton Brewer, Emily Ciriano, Scott Gray. It was a team effort, and I was impressed by how such a diverse group came together to attack the project in such a thoughtful and productive way. Strategic Sourcing Manager – Tires, Wheels, and Mounting Systems. We had another great set of student projects during our Spring SCRC student poster session.

Re-thinking supply chain risk: Protection at any cost?

Supply Chain View from the Field

I have been having a number of fascinating interviews with Chief Procurement Officers this past week on the subject of procurement analytics and supply management risk. commercially standard) parts that create excessive quality and procurement costs, to squirreling away MRO parts and inventory in places that no one will ever find them, including the operators, all in the name of risk!

Why Financial Reengineering Does Not Equal Supply Chain Improvement

Supply Chain Shaman

Financial reengineering focuses on the optimization of short-term results that are usually based on a functional analysis of source, make, or deliver. Few consultants understand the interrelationships between source, make and deliver. This is number 15 in a series that looks critically, industry by industry, to understand relative improvement of peer groups on the Effective Frontier.

Still Don’t Know How Many Slaves Are In Your Supply Chain?

Talking Logistics

Last week, the Chartered Institute of Procurement & Supply (CIPS), a leading international body representing purchasing and supply management professionals, issued a press release highlighting findings from a survey it conducted showing that relatively few companies are ready to comply with the UK’s Modern Slavery Act , which was passed in March 2015 with enforcement set to begin on April 1, 2016. How many slaves are in your supply chain?

A “Swiss Army Knife” of Supply Chain Talent Requirements: Views from a Former Wolfpack Student

NC State SCRC

He then went into global imports for the central purchasing group in Raleigh. He became a director at that point, working with sales planning, inventory planning, and financial planning, and pulling together the Sales and Operations Planning team, as well as introducing new products and eliminating obsolescence. In 2013 we had $8M of raw material inventory – due to poor purchasing, poor safety stock decisions, and a lot of WIP in the system.

Strong Supply Chains Required For an Economic Rebound: Six Steps To Take

Supply Chain Shaman

My first focus was on China sourcing. China was the source of over 90% of PPE.) To adapt, I recommend that companies form two groups: Operational/Business Continuity Group. The design of the second group is to analyze and reformat the supply chain for economic recovery.

The Origins of Category Management

Supply Chain View from the Field

I was involved in inventory control area on what they used to call “residual parts”, which were leftover parts that you ended up trying to sell into the service parts organization. I blew out all the part codes out into an alphabetical listing and arbitrarily adopted a simple language to group the parts. Although there were thousands of part codes, I was able to work it down to 200 specific groupings of parts. They would bid and source only part at a time!

Gartner’s 2018 Top 25 Supply Chains List! Is it Still Relevant?

Supply Chain Game Changer

Inventory Turns 3. (10%). Source: Gartner. By definition the Peer group that is providing their Opinion scores is restricted to large companies voting on other large companies. The Gartner opinion group is also restricted to 42 voters. Further an Inventory turn of 1.0

Procurement as a strategic advisory resource

Claritum

Claritum Article - Procurement Blog. Defining the Perfect Procurement World. Achieving the perfect Procurement world. Procurement needs to transform and continue to transform to align to the business. 2 Defining the perfect Procurement world.

Commodity (or Category) Management – What is your Buying Strategy?

Supply Chain Game Changer

Check out What Exactly Is Procurement? A well constructed Procurement Strategy will raise the value of the Supply Chain to your company. “Commodity Management” may also be referred to as Category Management, Strategic Procurement or Merchant Management for instance.

How To Differentiate With A Supplier Relationship Management (SRM) Program!

Supply Chain Game Changer

In some cases, purely transactional suppliers in regional or out-sourced models may be placed below the level of “approved” in this model. The sourcing or procurement function will own the relationship and manage the overall process. Subscribe Here! Email Address.

It’s About Time for a new “World Class Supply Chain” Paradigm

NC State SCRC

As a young assistant professor at Michigan State University in 1992, I was part of a group called the Global Procurement Benchmarking Initiative. This was the first intelligent database system at the time that allowed me to look at a “deck” of the current buy for a commodity group for our production buy. I started by looking at no more than 10 commodity groups, and looked at the production buy across these commodity groups.

Seasoned Leadership in Action? ? An Interview with Joe Carson, CEO Spend Strategies, LLC!

Supply Chain Game Changer

As an experienced business professional, he has served in diverse roles ranging from Marketing and Strategy, to Procurement and Supply Chain. Past leadership titles include Chief Procurement Officer at both Lucent Technologies and Micron Technologies, in addition to other leadership positions as Vice-President Supply Chain Management, Operational Excellence Executive, and Chief Strategy Officer. All the organizational tools necessary to mobilize large groups into action.

Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

Over the last six years, we studied the connection between business results (growth, operating margin, inventory turns and Return on Invested Capital (ROIC)) and the link to company characteristics. The technology group wanted to implement SAP IBP, and the business leaders were resistant.

How Machine Learning Is Redefining Supply Chain Management

IQMS

Key factors influencing inventory levels, supplier quality, demand forecasting, procure-to-pay, order-to-cash, production planning, transportation management and more are becoming known for the first time. Source: Machine Learning – A Giant Leap for Supply Chain Forecasting, Material Handling and Logistics Conference (PDF, 28 pp., Source: DHL, Artificial Intelligence in Logistics, 2018 (PDF, 45 pp.,

AI This. Not So Fast.

Supply Chain Shaman

I find in my Supply Chains to Admire research that 96% of companies (when compared to their peer groups) are unable to drive improvement while delivering higher performance year-over-year on a balanced scorecard of growth, inventory turns, operating margin and Return on Invested Capital (ROIC). I define supply chain excellence as year-over-year performance better than the peer group on this balanced scorecard. Orbit Chart of TJX Versus Peer Group for the Period of 2010-2019.

Integrated Planning: Is It Rubbish? Be Careful What You Ask For….

Supply Chain Shaman

Each are good at localized planning within a focused area of demand, supply, network design, transportation planning, material sourcing or finite scheduling. The greatest value happens when companies can link across source, make and deliver. Few implementations of planning connect to procurement and transportation. While Integrated Planning sounds good, and teams can sit around the table and nod their heads with a false sense of security that the group reached agreement.

SCRC Student Project Lineup Off to a Great Start…

Supply Chain View from the Field

NC State kicked off classes last week, and as usual our incoming group of MBA students were lined up with projects as part of their entry class into supply chain management, MBA 541. In this context, relationships may exist between internal functional groups, as well as with suppliers and/or customers. These and other projects will surely lead to some interesting insights for this group of bright young minds!

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What Changes is the Coronavirus Bringing to eCommerce?

Vinculum

Concurrently, restricting outdoor movement except for supplying and procuring essential goods and services. Shipping agencies may encounter the ultimate burnt due to inadequate stocks or inventory. Look out for Alternate Supplier Sources. appeared first on Vinculum Group. Sell on Marketplaces Globally Inventory & Order Management Cross Border Strategy Brands Multi-brand Retailers Marketplaces Industry Insights eCommerce Online Business Corona Virus Covid-19

Improve Forecast Quality and Reliability with Value-add Forecasting (Part 1)

Logility

In fact, demand forecasts are used throughout the supply chain including supply chain design, purchasing, operations, inventory, and sales and marketing. For instance, forecasts help determine proper inventory controls to minimize overstock and out-of-stock events.

Four Strategies To Deploy As Supply Chain Hits Main Street

Supply Chain Shaman

While there are a few stalwarts helping in the redefinition of B2B in the Network of Networks Group—BASF, Corning, Dow, Evonik, P&G, Schneider Electric and HMD Global—most are sitting back and waiting. For the CFO, end-to-end is a focus on transactional flows like order-to-cash and procure-to-pay. Most are clueless about driving a better-planned order flow from tactical planning to procurement or transportation planning or how to improve forecast-value-added (FVA) processes.

Surviving Disruptions – an opportunity for supply chains to thrive with people and technology – LogiSYM July 2020

The Logistics & Supply Chain Management Society

This has proved to be a major source of risk. Poor business continuity planning, lack of risk management programs and single source suppliers, have magnified the impact of such risks. As an offspring of globalisation, supply chains are focused on optimisation – cost reduction, just-in-time deliveries and tight inventory-to-sales ratios. A significant paradigm shift in procurement and inventory control is an emerging area of focus.

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5 Strategies for Retailers to Combat the Coronavirus Impact

Vinculum

Sourcing stock to meet customer demand is unarguably challenging in the recent times as factories/production houses continue to be quarantined. It is also highly essential to avoid the scenarios of excess stock, deadstock and excess inventory replenishment. With this, retailers can also save a lot on costs in terms of stock procurement. The post 5 Strategies for Retailers to Combat the Coronavirus Impact appeared first on Vinculum Group.