This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Gathered around a table laden with insights and expertise, industry leaders recently convened at the institute for SupplyManagement to delve into the latest hot topics shaping the world of supplychain management.From procurement strategies to risk mitigation, the roundtable discussion was a lively exchange of ideas and perspectives.
In a world where the digital realm continues to shape the future of industries, the supplychain landscape stands at the precipice of profound conversion. As we fast forward to the horizon of 2025, the Institute for SupplyManagement News ventures into the unknown, exploring the enigmatic path that lies ahead.
This week, Im going even further back in history to the early 1980s and the publication in the Harvard Business Review of Peter Kraljics seminal article, Purchasing must become supplymanagement. Specifically, the capabilities they focus on and attempt to quantify are efficiency, agility and innovation potential.
“Never waste a good crisis” is a phrase worth pondering in the realm of digital transformation for supplychains. Historically, major companies neglected supplychain transformation and digital investments until global disruptions, such as the Covid pandemic, forced a change. 22, at 10:00 AM PST.
Sebastian Chua started his procurement journey with Hewlett Packard/Agilent Technologies as their country manager for Singapore, India, Thailand, and the Philippines before he took on the job as the regional procurement manager. . 10 Popular Procurement Experts Today. Sebastian Chua. Omid Ghamami. Trillion budget. .
By selecting and developing the right suppliers and establishing streamlined, transparent communication with them, manufacturers gain the agility and resilience to respond to customer demands, rise to the top, and navigate disruptions more easily. That makes agility a foundational part of your manufacturing strategy.
In recent years, there has been a significant shift in the supplychain industry as more and more women are choosing careers in this traditionally male-dominated field. This rise of women in the supplychain is not only breaking gender barriers but also bringing a fresh perspective and new ideas to the table.
What’s your Greatest SupplyManagement Challenge Today? In May 2022, Ivalua commissioned Forrester to survey over 400 procurement leaders across the globe to ask how they plan to minimize the frequency and impact of supply disruptions. Map Your Sub-tier SupplyChain. Build a Solid Data Foundation.
Tim Cook has been instrumental in overseeing the company’s global supplychain and procurement operations. His expertise in managing complex supply networks has played a crucial role in Apple’s success. Attend workshops, seminars, and conferences related to procurement and supplychainmanagement.
While the procurement industry is consistently evolving and shifting, supplymanagement professionals across the globe have had to quickly prepare for change and innovation in technology, business regulations, and the general speed of commerce. . Disruptions in global supplychains, labor market shortages, strong consumer demand.
I recently hosted a webinar in which our star speaker was Lora Cecere, Founder at SupplyChain Insight. Supplychainmanagement typically does not fit very well with procurement, which is a challenge at the best of times, and can be a disaster in difficult times. As late as the 1990s, supplychains were very local.
In the fast-paced world of supplychainmanagement, the ability to make timely and informed decisions can spell the difference between success and failure. Not only does it streamline decision-making processes, but it also fosters a culture of agility and innovation within organizations.
Procurement and supplychain teams have been trying to hold the line against macroeconomic and global market forces that have been pushing hard against them for nearly three years. Procurement and supplychain teams are under constant pressure. So what’s pressuring procurement and supplychain leaders the most?
The recent disruptions to supplychains caused by the coronavirus epidemic in China have given supplymanagers the world over pause for thought. Now more than ever, businesses must improve the efficiency of their supplychains not only to maintain a competitive advantage but also to reduce risk.
Finding skilled professionals to manage complex marketplace networks is a challenge Skill Dynamics often see in businesses we speak to. We equip individuals and organizations with the knowledge and expertise they need as a solution – both to optimize their supplychains and empower their businesses to thrive.
Its two dimensions suggest the flat Earth approach with insufficient room to cater to the complexities of modern category management and strategic sourcing situations. Category strategy will elaborate on logistical and supplymanagement aspects, i.e., inventory planning and supplychain configuration.
Procurement and supplychainmanagement would be a lot easier if the function existed in a bubble, but it would also be a lot less exciting. The last couple of years have truly been a very exciting time to be in supplychain. Current Events Impacting Procurement. By Hugo Britt | October 13, 2022. Food shortages.
When I graduated college with my shiny new SupplyChainManagement degree, I figured I was heading into my first job to work on supplier contract negotiations, optimizing production line output, and all of the other 'sexy' supplychainmanagement strategy we had spent two years learning about.
Bulgaria was excluded from the restriction and started building the “ world’s largest parking lot for trucks ” to manage freight transfers to and from Turkey, also a major supplier to the EU not just of agricultural but also manufactured goods. Coronavirus will lead to permanent changes in global supplychains.”.
At what point in an organization’s journey is it time to make the shift from reactive purchasing by non-practitioners to hiring and developing seasoned specialists who are able to look at spend holistically and create strategies that help an organization transform towards value management? Resiliency and Agility is the Name of the Game.
Over the past two years, we’ve seen how supplychains are constantly changing and facing uncertainties. CPOs and procurement leaders everywhere are trying to identify ways to be agile to handle future uncertainties. . However, talent management and innovation are expected to be the long term investments. .
The process of strategic sourcing starts with spends analysis and category management, which identifies, consolidates and standardises information from a wide range of data sources. Category management has been the only credible procurement strategy since the late 1990s, and that may be about to change. So what are the new realities?
A procurement strategy allows an organization to navigate an increasingly complex global supplychain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. When implemented with clear objectives, the procurement strategy will provide a roadmap for procurement managers to follow.
A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. Procurement teams equipped with risk management tools can ensure business continuity and minimize potential negative impacts.
This is clearly not the case in the world of supplier management. All suppliers are not created equally and they should all be managed with this distinction in mind. This article will look at a model for stratifying and segmenting your supply base within the confines of a structured and formal supplier relationship program (SRP).
The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supplychainmanagement, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.
Yet challenges like the COVID-19 pandemic, global supplychain disruptions, and the economic downturn have all limited and slowed down the next phase in procurement transformation. Reduced Sourcing A turbulent market, supplychain disruptions, and rapid inflation have all created challenging times for procurement professionals.
To succeed in this field, procurement professionals must possess a variety of competencies, ranging from negotiation and supplier management to risk assessment and financial analysis. Improve spend management by implementing a buying plan Effective spend management is crucial for any organization’s financial health.
Raindrop Raindrop is one of a number of US procurement startups offering enterprise-level spend management platforms. Raindrop has also been recognised as a cloud-enabled procurement focused Contract Lifecycle Management (CLM) application. FRDM FRDM is a software company specialising in supplychain risk management.
It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Procurement is central to a business’s operations, with a purpose that encompasses cost-efficiency, quality control, risk management, and strategic sourcing.
Subscribe to SupplyChain Game Changer. Initiatives are being put in place to make these statements a reality, but are these organizations agile enough to shift strategies, process and operations — for real? appeared first on SupplyChain Game Changer™. Subscribe Here! Email Address. Circular Economy.
By effectively managing the purchasing process, companies can better control their expenditures and optimize their supplychain, ensuring the availability of the right products and services at the right time. Supplier management systems: Tools that help track, evaluate, and manage supplier relationships and performance.
I joined KPMG in their supplychain practice and spend the next 16 years on consulting assignments in a smaller firm. In 2020, I moved back into corporate life as Head Of Supplier Relationship Management with Coventry Building Society. Our organisation has adopted agile ways of working.
We also caught up with practitioner clients and contacts who were in attendance to kick the proverbial tires and learn more about the ‘space’ (which is partially about intake management, but also concerns broader orchestration, which can mean everything from process coordination/integration to next-gen management of procurement itself).
The Sidekick #001 2024 Is Going To Be A Doozy Kris Lance VP & General Manager, Una January 30, 2024 Image: Marian Kamensky Intro Welcome to the inaugural issue of The Sidekick ! I’m Kris Lance, VP & General Manager at Una, and I believe every Sourcing Hero (that’s you!) What would it mean for supplychains?
Supplier Collaboration: Decentralized networks allow suppliers to join or exit dynamically, fostering agile partnerships. In other words, your organization gains control of its spend environment by relinquishing centralized functional control in favor of operational efficiencies originating on the front lines.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content