article thumbnail

Crafting a Procurement Management Plan to Mitigate the Impacts of Inflation

Precoro

Escalating expenses associated with rising prices of raw materials, finished goods, third-party services, and labor along the entire supply chain expose businesses to a heightened threat of margin reduction. In this article, we will discuss how a robust procurement management plan can help address and mitigate the effects of inflation.

article thumbnail

The One Key Shift in Your Supply Chain and Procurement Strategies that can Drive Better Business Continuity and Resilience

Logistics Viewpoints

Procurement and Supply Chain Management are essential functions that can help companies navigate these challenges, but they are often siloed and operate in separate departments. Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

2024: Planning for Success Amid the Uncertainty

Logistics Viewpoints

Typically, we make it at least one month into the new year before we have to revise our plans. However, it’s only early February 2024, and we already have several major disruptions impacting supply chains. This is an important time for the supply chain profession. For more information on the research, click here.

article thumbnail

Supply Chain Planning In Excel: A Perilous Path

Logility

Supply chain planning plays a critical role in ensuring operational efficiency, customer satisfaction, and overall success. However, relying solely on Microsoft Excel for supply chain planning can expose businesses to a myriad of risks and limitations.

article thumbnail

Problem Solved: Boost Resilience with Supplier Diversity

Speaker: Rod Robinson - SVP of the Supplier Diversity Practice, Insight Sourcing Group

Supplier diversity programs are impactful and effective tools in your business strategy because they guarantee a diverse supplier base and ensure inclusivity within your ultimate procurement plan. This session will also cover: How to widen your pool of potential suppliers to achieve stronger supply chain resilience and adaptability.

article thumbnail

Demand Planning: Whipped And Chained by Tradition

Supply Chain Shaman

She wrote, “I have been working in the supply chain for 35 years, and we are still trying to solve the “demand” issue. Solving from a supply side seems to work for many companies I work with. I know that your primary focus is procurement. In a recent blog post, I was challenged by Anna.

article thumbnail

Network Visibility and Supply Chain Planning Work Better Together

Logistics Viewpoints

Infor is one example of a supplier that offers both advanced visibility and supply chain planning. Supply chain practitioners are beginning to understand the same is true for supply chain planning (SCP) and multi-enterprise supply chain network solutions. Connected Planning. Visibility to Events.

article thumbnail

2023 Procurement Planning: How Shippers Can Navigate Disruption With More Agile Strategies

In 2023, shippers have an opportunity to reimagine their supply chain operations so they’re well equipped to navigate any future disruption. Understanding when and how to leverage real-time, spot, contract and dedicated procurement—depending on business needs and the state of the market—will be vital to navigating supply chain volatility.

article thumbnail

How to Prepare Your Supply Chain for Chip Shortages

TadaNow has helped many customers with short-term and long-term planning to prepare them for supply chain shortages and procure needed electronics components in the most efficient way possible. Tada’s Preventive Corrective Action Plan (PCAP). Read this whitepaper to learn: The lasting impact of chip shortages.

article thumbnail

Building Supply Chain Resilience in the Real World

Speaker: Kelly Barner - Co-Founder & Managing Director of Buyers Meeting Point, LLC

Since 2020, procurement and supply chain professionals have faced an unprecedented set of challenges. The pandemic was just the start.

article thumbnail

The 2023 Supply Chain Crystal Ball: Challenges and Solutions

Speaker: Olivia Montgomery, Associate Principal Supply Chain Analyst

The supply chain management techniques that dominated the last 30 years are no longer supporting consumer behavior or logistics and manufacturing capabilities. What should your plans for 2023 include? You'll learn more about: Trending supply chain tech investments to consider. So what’s working now?