Supply Chain

Supply Chain

Can Blanket Purchase Orders Provide Procurement Security?

In a May article for InformationWeek's Government section, former U.S. Transportation Department CIO Nitin Pradhan provided 10 steps to successful strategic sourcing. Included in his list was a recommendation for increased use of blanket purchase agreements (BPAs), also known as blanket purchase orders or standing purchase orders. Although this recommendation was among familiar ones, such as...

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Supply Chain

Compliance Management: Facing Up to the Challenge

Credit: Stuart Miles at FreeDigitalPhotos.net Supply professionals are challenged today to manage compliance throughout their supply chains. In many instances, they own responsibility, and in others they share compliance management requirements with other supply chain stakeholders. There is a number of organizational compliance demands that are both internal and external and may include:...

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Supply Chain

Why Vendor-Managed Inventory Programs Are Worth It

Often within the maintenance, repair, and operations (MRO) space, inventory management is a recurring and commonplace issue. In many cases, companies are operating purely on a tactical basis. As parts run out, the buyer reorders. Even worse, when a part that is needed to maintain facility operations runs out, the buyer or warehouse manager has to halt production while attempting to obtain it....

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Supply Chain

Strategies to Limit Maverick Buying Require Dexterity

Credit: imagerymajestic at FreeDigitalPhotos.net Backdoor or maverick buying is a perplexing problem that plagues many purchasing organizations. The methods to counteract this behavior are highly dependent upon the cultural climate and ethical standards of your organization. There is no universal solution. People's behaviors are influenced by consequences. If there are no consequences for...

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Supply Chain

Is Your Supplier Management Strategy Evolving Fast Enough?

Credit: Stuart Miles at FreeDigitalPhotos.net Very few sourcing and procurement topics have been researched and discussed as much as supplier management. Industry consultants have dedicated their entire practices to it. There always has been a scholarly and academic side to this precarious topic, as well; a search of the Harvard Business Review website returns almost 1,000 pieces of content on...

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Supply Chain

New Online System Takes Aim at Fixing Indirect Spend

Credit: sheelamohan@FreeDigitalPhotos.net Don Jean, founder and CEO of FocusedBuyer, says he has innovation in his blood: "When I was in purchasing, I always wanted to know what was new and how something new could help us do something that would save the company money." Jean, an experienced purchasing professional, and his business partner, Tom Middleton, also an experienced purchasing pro,...

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Supply Chain

The Leasing Options in the Construction, Medical, and Restaurant Industries [Infographic

Businesses often lease rather than own their vital equipment, whether it's a construction company, restaurant, or medical facility. Leasing allows companies to lower their initial capital investments, as well as maintenance costs, while enabling them to stay up to date with their business equipment. Leasing should be an option on the minds of sourcing and procurement practitioners when they are...

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Supply Chain

For Procurement, It All Comes Down to the Relationship

Credit: adamr at FreeDigitalPhotos.net Whether managing costs, quality, or continuity, for procurement it's all about the relationship -- with management, stakeholders, and, perhaps most important, suppliers. That's the word from Eric Walsworth, director of supply management at LexisNexis and a chairperson at the recent ProcureCon for Manufacturing event, which took place in Milwaukee. Managing...

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Supply Chain

How Knowledge Management Ensures Supply Market Intelligence

[Editor's Note: The following article is an excerpt from the upcoming book Supply Market Intelligence for Procurement: Research, Processes, and Resources co-authored by Jeanette Jones and Kelly Barner. Credit: ddpavumba at FreeDigitalPhotos.net Supply market intelligence adds a critical external context to the data that procurement has access to from internal sources. This broader understanding...

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Supply Chain

Supply Management's Role in Organizational Compliance Is Critical

Credit: Stuart Miles at FreeDigitalPhotos.net The importance of organizational compliance is not new to supply professionals. They have been and continue to be responsible for their organizations' internal compliance to accounting standards. These standards ensure that expenditures have been approved and are included in departmental budgets, possess the correct sign-offs and account numbers, meet...

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