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The Dangers of Single Sourcing in Your Supply Chain

Resilinc

Avoid the pitfalls of single sourcing and learn strategies to build a more resilient supply chain. Yet, within the pursuit of efficiency lies a lurking peril: single sourcing. The pandemic was a wake-up call to the dangers of single sourcing. What is single sourcing and sole sourcing?

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Sourcing and Procurement: One but Not the Same

Precoro

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

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Four Key Strategic Sourcing Benefits

QAD

Recent business turbulence has increased the awareness among manufacturers for improved communication and collaboration with suppliers. This is certainly true in the area of strategic sourcing where procurement teams rely heavily on manually intensive efforts to identify and select suppliers.

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Is Single Sourcing, or Sole Sourcing, Dead?

Supply Chain Game Changer

Lockdowns have resulted in the temporary closure of Manufacturing and Distribution facilities and discontinuation of Logistics and transportation modes. What is Single Sourcing or Sole Sourcing? For clarity let’s define what these sourcing terms mean.

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Using data and AI to improve manufacturing

SYSPRO Smarter ERP

Using artificial intelligence (AI) in manufacturing can significantly improve productivity, reduce equipment failure, increase production efficiency and help identify new business opportunities. The area of AI that manufacturers need to explore to drive their factories into the future is machine learning (ML). The Industry 4.0

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Global Wide Manufacturing Output Strengthens in March 2024

Supply Chain Matters

Global Manufacturing Output Levels Strengthen Global-wide manufacturing levels as depicted in the J.P. Morgan Global Manufacturing PMI® ended March on an optimistic footing. Of further significance was the March report indication that the rate of growth in global manufacturing output has accelerated to a 21-month high.

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Build Supply Chain Resilience with a Diverse Sourcing Strategy 

Logility

And they’ve had little to no time to recover from raw material and labor shortages, supplier and factory failures, transportation delays, and rising costs while encountering unpredictable demand. Developing Diverse, Resilient Sourcing Strateg ies. This approach to supply chain planning may be a significant paradigm shift.