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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. It refers to the entire process of sourcing and contracting with suppliers to gather all of the services and goods you need to make that final product. Sourcing is but one step in the procurement process. Sourcing and Procurement in Supply Chain Management : Finding the Right Tools. MORE
The “reshoring” of manufacturing operations from China and elsewhere to the United States continues to make headlines. A month later, Walmart announced that it will increase its sourcing of US products by $50 billion over the next 10 years. And earlier this month, the Wall Street Journal published an article about how the toy maker K’Nex has moved most of its manufacturing operations from China to its factory in Pennsylvania. MORE
”) Customer experience initiatives often involve people from diverse parts of a manufacturing organization. However, few manufacturers ever sit back and ask, “How can our procurement or strategic sourcing initiatives contribute to the overall customer experience?” I would argue that, if you’re in manufacturing, strategic sourcing is the first place to start shaping the customer journey. This problem appears to be the result of sourcing choices. MORE
Healthcare supply chain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. has gone live with Ivalua’s Source to Contract solution. As a group purchasing organization (GPO), Intalere connects with the right manufacturers and distributors to aggregate purchasing volume across the supply chain and negotiate improved discounts on their members’ behalf resulting in unprecedented cost savings for the healthcare industry. MORE
Within the procurement of goods, there are many processes as well, such as sourcing and the role of reverse auctions in strategic sourcing. However, there are many times where the reverse auction process is warranted and can play a significant role in your strategic sourcing strategy. MORE
COVID-19 and the Future of China Sourcing and Manufacture. But global dependence on Chinese manufacturing is mind-boggling…. The overriding reason for this China-dependence is the cost factor, and weaning manufacturing away from that country comes at a hefty price. China produces most raw materials used in product manufacturing, so even if companies move product assembly elsewhere part of their supply chain will remain in China. Covid 19 Global Sourcing MORE
Sourcing: Mitigate risk during periods of supply chain disruption, such as those caused by the Coronavirus outbreak, by using digital technology. . The post Sourcing – What You Need To Know About Coronavirus Supply Chain Disruption appeared first on Gravity Supply Chain. MORE
For the first three months after Covid-19 hit, virtually every sourcing project , in every sector , was put on hold while companies tried to assess the situation and how best to deal with the epidemic. Diversify Your Sourcing Needs. COVID-19 Sourcing MORE
Product Sourcing Agent article and permission to publish here provided by Joyce Chen at Epic Sourcing. Your manufacturer is the backbone of your company; it regulates your inventory, which determines how consumers perceive and communicate with you. Functions of a Sourcing Agent. MORE
Are industrial manufacturers seizing all the opportunities of a more digital world? A recent article suggests that, by 2018, only 30 percent of manufacturers investing in digital transformation will be able to maximize the outcome. Let’s take a look at four reasons why digital transformation is an imperative in 2017 for industrial manufacturers: 1. Manufacturers need to rise to meet these new expectations – and one of the keys is through digital transformation. MORE
Healthcare supply chain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. has gone live with Ivalua’s Source to Contract solution. As a group purchasing organization (GPO), Intalere connects with the right manufacturers and distributors to aggregate purchasing volume across the supply chain and negotiate improved discounts on their members’ behalf resulting in unprecedented cost savings for the healthcare industry. MORE
Real time predictive analytics ensure offshore and nearshore sourcing decisions take place with certainty. The post Sourcing And The Value Chain – Why Digital Platforms Matter appeared first on Gravity Supply Chain. Gravity’s technology helps mitigate risk. MORE
The world has changed from the oil days of machine assisted assembly lines and manufacturing processes as more robots have entered the workforce. Robotics is not just a way to help companies, but many manufacturers have recognized how robots can improve their supply chain processes, benefit the company, and drive their future success. Driving Forces Behind Robotics in Logistics in Manufacturing. Benefits of Robotics in Logistics and Manufacturing. MORE
Will the COVID-19 crisis lead more companies to manufacture and source their products and materials from the United States instead of China and other countries? Manufacturing? Manufacturing? Global Trade Industry Trends China COVID-19 global trade Indago local sourcing reshoring US manufacturingI’ve been getting asked that question a lot these days. MORE
There’s more involved in successfully reshoring a foreign manufacturing operation back to the U.S. Reshoring is a hot topic in manufacturing. These “Bring Manufacturing Back” initiatives have many moving parts and require careful planning and execution and very skillful project management. location and the best facility for manufacturing are key components to the overall success of the program. Transferring a manufacturing line from one location back to the U.S. MORE
However, if your role is managing the movement of widgets from point A to point B, or multiple points, the freight procurement task before you can be labor intensive and time consuming — unless you use a technology solution specifically designed for transportation sourcing. Here are the top five reasons you need a transportation sourcing solution: 1. Freight sourcing is as unique and complex as the transportation industry itself. MORE
There is a developing trend that has been gaining steam in recent years that has the potential to seriously impact and “disrupt” food and beverage manufacturing. It means buying food that is sourced and/or grown within a geographical location that could be considered “local”. Smaller manufacturers are popping up all over the United States, as well as in other countries, to process and produce locally grown food products. Disrupting the Larger Food and Beverage Manufacturer. MORE
Lockdowns have resulted in the temporary closure of Manufacturing and Distribution facilities and discontinuation of Logistics and transportation modes. In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels. What is Single Sourcing or Sole Sourcing? procurement #purchasing #sourcing. MORE
In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. Improving costs remains a core competency for any sourcing organization. Strategic Sourcing Requires Collaborative Working Arrangements with Key Suppliers. MORE
Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions. Done well, strategic sourcing creates measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. MORE
Sourcing is a key component of your Supply Chain – perhaps the most important part. As companies are navigating an increasingly turbulent yet robust economic climate, businesses in manufacturing, mining and metals, food and beverage, and other industries are looking for ways to reduce raw material procurement spending and offset rising material costs. That’s where Strategic Sourcing comes into play. An important lever for modern organizations. MORE
This classification extends to the manufacturing facilities and personnel keeping us fed and supplied. Doing more with less is more critical in manufacturing than ever. Manufacturers of medical and cleaning supplies, as well as the specialists overseeing trucking, delivery and logistics companies, might have to make do with limited supplies and labor. They might even find themselves conscripted into manufacturing essential products under the Defense Production Act. MORE
Global manufacturing choices are almost endless, but with innovation and progress what works today may not work in the future. factory selection sourcing supply chain management Contract Manufacturer supply chain RFQ MORE
To calculate total manufacturing cost you add together three different cost categories: the costs of direct materials, direct labour and manufacturing overheads. Expressed as a formula, that’s: Total manufacturing cost = Direct materials + Direct labour + Manufacturing overheads. MORE
Strategic Sourcing has been used by companies of all sizes for years. This commentary highlights some of the key principles to strategic sourcing. Involve suppliers early in new product (or service) development initiatives Supplier can be an invaluable source of ideas and knowledge, especially as it pertains to the materials or services you are sourcing from them. However, priority is always given to cost cutting initiatives. MORE
In a post-COVID-19 world, no smart company can rely solely on China for its manufacturing MORE
How can manufacturers manage disruption and improve productivity? By using advanced analytics for manufacturing, to understand the valuable information concealed within the data they already have! Advanced analytics for manufacturing is a good place to start. MORE
Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals. He knew what his cost point had to be on the product which meant that he had to have the product manufactured overseas. But beyond that he had no idea on where to start to source his product. Large companies can afford to have Strategic Sourcing Procurement staff around the world. The post Outsourcing Sourcing! MORE
The advancements in 3D printing and 'Additive Manufacturing,' coupled with supply chain efficiencies, could make distributed manufacturing a reality, ushering in the era of smart manufacturing. The Continual Coverage and Now Reality of Smart Manufacturing with 3D Printing. I remember reading an MIT paper on manufacturing technology trends a couple of years ago. It had a fascinating mention of " Additive Manufacturing " (AM) and how it could be a game changer. MORE
Now is the Time for Manufacturing to Look at Logistics Efficiency. The source pointed to several trends that are encouraging the adoption of TMS, including better control of data, more comprehensive analysis and the need to support omni-channel supply chains. Manufacturing seems heading for a long awaited comeback. The post Steel Fabrication and General Manufacturing Tips and Tricks for 2015 appeared first on Freight Logistics Company | Cerasis. MORE
According to McKinsey’s 2019 chief purchasing officer (CPO) survey, sustainable sourcing at scale is the fashion industry’s new must-have. Where do they source their products? How do they manage and control their manufacturing process? MORE
Back in November and December when the economy was running full speed ahead, automotive manufacturers had high expectations for robust sales activity in 2020. One of the issues that automotive manufacturers encountered throughout the pandemic was absenteeism. MORE
Disaster preparedness is imperative everywhere, but that goes double for the manufacturing industry. With the right application of intelligent technologies, manufacturers and supply chain partners can more easily make proactive decisions, like diverting vessels and making other route changes. This branch of technology helps manufacturers on two fronts: backup and disaster recovery. Best Practices Digital Twin Digitalization Manufacturing Natural Resources MORE
As part of the Supply Chain Management, an important task of the sourcing team is to identify and Onboard new suppliers regularly. Are these locations manufacturing units or corporate offices? What is a Vendor Registration Portal? MORE
Strategic National Stockpiles and Sourcing for the National Interest! The Covid19 global pandemic has cruelly exposed the utter dependence of the US and the world on China’s mass manufacturing capability and supply of critical medical equipment and materials. These Rare Earth Elements have long ago been abandoned for mining and processing here in the United States and are part of our reliance on Chinese sources of supply. sourcing #rareearthelements. Subscribe Here! MORE
Editor's Note: This is a two part series featuring Chuck Intrieri, who along with providing excellent insights over at his industry leading The Lean Supply Chain blog, is also a consultant who works with companies for Cost Reduction, Supply Chain Optimization, Logistics, Manufacturing, and 3PL Selection. We recommend you get in touch with him if you'd like an expert to guide you to the next level in your manufacturing business. . What is Manufacturing? MORE
Dragon Innovation
MARCH 27, 2020
Global manufacturing choices are almost endless, but with innovation and progress what works today may not work in the future. factory selection sourcing supply chain management Contract Manufacturer supply chain RFQ
Supply Chain Game Changer
APRIL 28, 2020
Lockdowns have resulted in the temporary closure of Manufacturing and Distribution facilities and discontinuation of Logistics and transportation modes. In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels. What is Single Sourcing or Sole Sourcing? procurement #purchasing #sourcing.
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Talking Logistics
MARCH 27, 2013
The “reshoring” of manufacturing operations from China and elsewhere to the United States continues to make headlines. A month later, Walmart announced that it will increase its sourcing of US products by $50 billion over the next 10 years. And earlier this month, the Wall Street Journal published an article about how the toy maker K’Nex has moved most of its manufacturing operations from China to its factory in Pennsylvania.
Talking Logistics
APRIL 13, 2020
Will the COVID-19 crisis lead more companies to manufacture and source their products and materials from the United States instead of China and other countries? Manufacturing? Manufacturing? Global Trade Industry Trends China COVID-19 global trade Indago local sourcing reshoring US manufacturingI’ve been getting asked that question a lot these days.
Supply Chain Game Changer
DECEMBER 10, 2020
Product Sourcing Agent article and permission to publish here provided by Joyce Chen at Epic Sourcing. Your manufacturer is the backbone of your company; it regulates your inventory, which determines how consumers perceive and communicate with you. Functions of a Sourcing Agent.
EC Sourcing Group
JANUARY 11, 2021
Within the procurement of goods, there are many processes as well, such as sourcing and the role of reverse auctions in strategic sourcing. However, there are many times where the reverse auction process is warranted and can play a significant role in your strategic sourcing strategy.
.jpg)
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ivalua
APRIL 1, 2020
Healthcare supply chain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. has gone live with Ivalua’s Source to Contract solution. As a group purchasing organization (GPO), Intalere connects with the right manufacturers and distributors to aggregate purchasing volume across the supply chain and negotiate improved discounts on their members’ behalf resulting in unprecedented cost savings for the healthcare industry.
Gravity Supply Chain
FEBRUARY 27, 2020
Real time predictive analytics ensure offshore and nearshore sourcing decisions take place with certainty. The post Sourcing And The Value Chain – Why Digital Platforms Matter appeared first on Gravity Supply Chain. Gravity’s technology helps mitigate risk.
Supply Chain Brain
JUNE 11, 2020
In a post-COVID-19 world, no smart company can rely solely on China for its manufacturing
Logility
DECEMBER 29, 2020
How can manufacturers manage disruption and improve productivity? By using advanced analytics for manufacturing, to understand the valuable information concealed within the data they already have! Advanced analytics for manufacturing is a good place to start.
Talking Logistics
FEBRUARY 18, 2016
However, if your role is managing the movement of widgets from point A to point B, or multiple points, the freight procurement task before you can be labor intensive and time consuming — unless you use a technology solution specifically designed for transportation sourcing. Here are the top five reasons you need a transportation sourcing solution: 1. Freight sourcing is as unique and complex as the transportation industry itself.
|
Pivot88
NOVEMBER 2, 2020
According to McKinsey’s 2019 chief purchasing officer (CPO) survey, sustainable sourcing at scale is the fashion industry’s new must-have. Where do they source their products? How do they manage and control their manufacturing process?
Cerasis
JANUARY 19, 2015
There’s more involved in successfully reshoring a foreign manufacturing operation back to the U.S. Reshoring is a hot topic in manufacturing. These “Bring Manufacturing Back” initiatives have many moving parts and require careful planning and execution and very skillful project management. location and the best facility for manufacturing are key components to the overall success of the program. Transferring a manufacturing line from one location back to the U.S.
DELMIA Quintiq
MAY 21, 2020
This classification extends to the manufacturing facilities and personnel keeping us fed and supplied. Doing more with less is more critical in manufacturing than ever. Manufacturers of medical and cleaning supplies, as well as the specialists overseeing trucking, delivery and logistics companies, might have to make do with limited supplies and labor. They might even find themselves conscripted into manufacturing essential products under the Defense Production Act.
TPSynergy
AUGUST 29, 2020
As part of the Supply Chain Management, an important task of the sourcing team is to identify and Onboard new suppliers regularly. Are these locations manufacturing units or corporate offices? What is a Vendor Registration Portal?
Logistics Bureau
APRIL 20, 2020
COVID-19 and the Future of China Sourcing and Manufacture. But global dependence on Chinese manufacturing is mind-boggling…. The overriding reason for this China-dependence is the cost factor, and weaning manufacturing away from that country comes at a hefty price. China produces most raw materials used in product manufacturing, so even if companies move product assembly elsewhere part of their supply chain will remain in China. Covid 19 Global Sourcing
Supply Chain Game Changer
JUNE 17, 2020
Strategic National Stockpiles and Sourcing for the National Interest! The Covid19 global pandemic has cruelly exposed the utter dependence of the US and the world on China’s mass manufacturing capability and supply of critical medical equipment and materials. These Rare Earth Elements have long ago been abandoned for mining and processing here in the United States and are part of our reliance on Chinese sources of supply. sourcing #rareearthelements. Subscribe Here!
Supply Chain Opz
JANUARY 19, 2015
Strategic Sourcing has been used by companies of all sizes for years. This commentary highlights some of the key principles to strategic sourcing. Involve suppliers early in new product (or service) development initiatives Supplier can be an invaluable source of ideas and knowledge, especially as it pertains to the materials or services you are sourcing from them. However, priority is always given to cost cutting initiatives.
ivalua
APRIL 1, 2020
Healthcare supply chain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. has gone live with Ivalua’s Source to Contract solution. As a group purchasing organization (GPO), Intalere connects with the right manufacturers and distributors to aggregate purchasing volume across the supply chain and negotiate improved discounts on their members’ behalf resulting in unprecedented cost savings for the healthcare industry.
ivalua
JULY 22, 2015
In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. Improving costs remains a core competency for any sourcing organization. Strategic Sourcing Requires Collaborative Working Arrangements with Key Suppliers.
Jaggaer
AUGUST 12, 2020
For the first three months after Covid-19 hit, virtually every sourcing project , in every sector , was put on hold while companies tried to assess the situation and how best to deal with the epidemic. Diversify Your Sourcing Needs. COVID-19 Sourcing
ivalua
JULY 15, 2015
Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions. Done well, strategic sourcing creates measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.
QAD
DECEMBER 3, 2019
There is a developing trend that has been gaining steam in recent years that has the potential to seriously impact and “disrupt” food and beverage manufacturing. It means buying food that is sourced and/or grown within a geographical location that could be considered “local”. Smaller manufacturers are popping up all over the United States, as well as in other countries, to process and produce locally grown food products. Disrupting the Larger Food and Beverage Manufacturer.
Cerasis
JANUARY 7, 2016
Editor's Note: This is a two part series featuring Chuck Intrieri, who along with providing excellent insights over at his industry leading The Lean Supply Chain blog, is also a consultant who works with companies for Cost Reduction, Supply Chain Optimization, Logistics, Manufacturing, and 3PL Selection. We recommend you get in touch with him if you'd like an expert to guide you to the next level in your manufacturing business. . What is Manufacturing?
Cerasis
MARCH 24, 2017
Are industrial manufacturers seizing all the opportunities of a more digital world? A recent article suggests that, by 2018, only 30 percent of manufacturers investing in digital transformation will be able to maximize the outcome. Let’s take a look at four reasons why digital transformation is an imperative in 2017 for industrial manufacturers: 1. Manufacturers need to rise to meet these new expectations – and one of the keys is through digital transformation.
EC Sourcing Group
JUNE 17, 2020
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. It refers to the entire process of sourcing and contracting with suppliers to gather all of the services and goods you need to make that final product. Sourcing is but one step in the procurement process. Sourcing and Procurement in Supply Chain Management : Finding the Right Tools.
Gravity Supply Chain
FEBRUARY 21, 2020
Sourcing: Mitigate risk during periods of supply chain disruption, such as those caused by the Coronavirus outbreak, by using digital technology. . The post Sourcing – What You Need To Know About Coronavirus Supply Chain Disruption appeared first on Gravity Supply Chain.
USC Consulting Group
FEBRUARY 5, 2019
Sourcing is a key component of your Supply Chain – perhaps the most important part. As companies are navigating an increasingly turbulent yet robust economic climate, businesses in manufacturing, mining and metals, food and beverage, and other industries are looking for ways to reduce raw material procurement spending and offset rising material costs. That’s where Strategic Sourcing comes into play. An important lever for modern organizations.
Supply Chain Game Changer
NOVEMBER 20, 2018
Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals. He knew what his cost point had to be on the product which meant that he had to have the product manufactured overseas. But beyond that he had no idea on where to start to source his product. Large companies can afford to have Strategic Sourcing Procurement staff around the world. The post Outsourcing Sourcing!
Cerasis
OCTOBER 9, 2015
The advancements in 3D printing and 'Additive Manufacturing,' coupled with supply chain efficiencies, could make distributed manufacturing a reality, ushering in the era of smart manufacturing. The Continual Coverage and Now Reality of Smart Manufacturing with 3D Printing. I remember reading an MIT paper on manufacturing technology trends a couple of years ago. It had a fascinating mention of " Additive Manufacturing " (AM) and how it could be a game changer.
USC Consulting Group
DECEMBER 15, 2020
Back in November and December when the economy was running full speed ahead, automotive manufacturers had high expectations for robust sales activity in 2020. One of the issues that automotive manufacturers encountered throughout the pandemic was absenteeism.
Cerasis
DECEMBER 18, 2014
Now is the Time for Manufacturing to Look at Logistics Efficiency. The source pointed to several trends that are encouraging the adoption of TMS, including better control of data, more comprehensive analysis and the need to support omni-channel supply chains. Manufacturing seems heading for a long awaited comeback. The post Steel Fabrication and General Manufacturing Tips and Tricks for 2015 appeared first on Freight Logistics Company | Cerasis.
Unleashed
AUGUST 31, 2020
To calculate total manufacturing cost you add together three different cost categories: the costs of direct materials, direct labour and manufacturing overheads. Expressed as a formula, that’s: Total manufacturing cost = Direct materials + Direct labour + Manufacturing overheads.
Cerasis
JULY 6, 2015
The world has changed from the oil days of machine assisted assembly lines and manufacturing processes as more robots have entered the workforce. Robotics is not just a way to help companies, but many manufacturers have recognized how robots can improve their supply chain processes, benefit the company, and drive their future success. Driving Forces Behind Robotics in Logistics in Manufacturing. Benefits of Robotics in Logistics and Manufacturing.
ivalua
NOVEMBER 25, 2015
”) Customer experience initiatives often involve people from diverse parts of a manufacturing organization. However, few manufacturers ever sit back and ask, “How can our procurement or strategic sourcing initiatives contribute to the overall customer experience?” I would argue that, if you’re in manufacturing, strategic sourcing is the first place to start shaping the customer journey. This problem appears to be the result of sourcing choices.
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