Supply Chain

Supply Chain

Inefficient Procurement Processes Cost Firms $1.5B Annually

Credit: renjith krisnan at FreeDigitalPhotos.net Peerless procurement organizations seem to do everything right. A recent Hackett Group study found that such organizations outperform others in just about every important metric -- from cost savings and service delivery to cost reductions and an enviable 9-to-1 ROI -- all with nearly a third fewer people than anyone else. One of the key ways these...

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Supply Chain

E-Sourcing Implementation Challenges: Cause Versus Symptom

Credit: stockimages at FreeDigitalPhotos.net In a recent survey of supply management professionals, Topline Strategy Group investigated the perceived value gap associated with sourcing and procurement software applications. The question of realized value is rooted in whether companies are "getting their money's worth" from such technology. The stakes are real, and they are high, as in the...

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Supply Chain

The Ins and Outs of a Procurement Job Interview

For most of us, interviewing is like public speaking: We would rather get healthy teeth extracted without Novocain than subject ourselves to such a stressful experience. As an executive recruiter focused in procurement/sourcing and supply chain for the past 20-plus years, I focus on preparing for interviews with most of my job seekers and discussing interview strategies to get offers. Most of the...

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Supply Chain

Transforming Procurement from Tactical to Strategic, One Company at a Time

Their beards may be grayer, but their passion for procurement is no less than when Robert A. Rudzki founded Greybeard Advisors LLC 10 years ago. Rudzki, who has experience as a chief procurement officer and a chief financial officer, was at a crossroads in his corporate career when a procurement leader at another company asked for his assistance with transforming a team from tactical to...

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Supply Chain

Manufacturing Locations: Are You Un-Shore?

There is a lot of buzz about reshoring, the trend of moving manufacturing back to North America. Offshore manufacturing has become less and less appealing, while moving closer to home in Mexico or back home altogether in the United States has become a popular choice for many companies. The benefits and drawbacks of each option greatly depend on your business model and the goals of your...

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Supply Chain

Regional Central Procurement Is Best of Both Worlds

Credit: samuiblue at FreeDigitalPhotos.net In the procurement industry, it's our own Groundhog Day. We keep revisiting the question of which is better: centralized or decentralized procurement? If the economic benefits of centralized procurement are a "no-brainer" - that is, leveraging volume - could there be any other reason or reasons to consider decentralized procurement? Many in the...

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Supply Chain

Accelerating Sourcing Cycle Times to Improve Top, Bottom Lines

Credit: nirots at FreeDigitalPhotos.net While different industry verticals offer unique products and have market-specific needs, all manufacturers share common sourcing and supplier management objectives. These include selecting the right suppliers, achieving cost and margin targets, supporting innovation and new product launches, and effectively managing supplier performance, risk, and...

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Supply Chain

Airline, Hotel Prices to Rise for 2015 Business Travel

Credit: khunaspix at FreeDigitalPhotos.net Two months before the Global Business Travel Association (GBTA) opened its annual convention in Los Angeles in late July, early attendee registration was already at its highest level ever, and attendance went on to set an all-time record, validating the group's positive outlook about corporate travel this year and next. In its second-quarter report, in...

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Supply Chain

Three False Assumptions About Strategic Sourcing

Credit: Stuart Miles at FreeDigitalPhotos.net It is always interesting when procurement practices and priorities enter the public discourse. Since this often happens in the context of government procurement, common-sense sourcing methods suddenly become complex, over-regulated, and counter-intuitive. A perfect example is the federal government's efforts to make sure small businesses have...

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Supply Chain

Procurement Job Descriptions Reflect Profession's Change

Credit: Stuart Miles at FreeDigitalPhotos.netThose who have been in the procurement profession long enough will recall the days when they thumbed through the classifieds, highlighter in one hand and ink-smudged fingers on the other, trying to find the "help wanted" column with keywords like "buyer" or "purchasing agent." It may have been sufficient to get invited to an interview coming from jobs...

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