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Strategic sourcing enters a new age. Are you keeping up? (Part 2)

ivalua

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.

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Visibility is crucial for supply chains

Strategic Sourceror

Some of the key advantages that visibility solutions bring include: Less risk According to McKinsey, organizations that have implemented digital dashboards for their supply chain visibility needs were twice as likely to have avoided the supply chain issues that plagued the industry in the early months of 2022.

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Webinar Recap: Procurement 2022, Big Trends and Predictions

ivalua

Building and maintaining supply chain resilience will be critical in a post-Covid-19 world. How can we mitigate technical, logistical, weather-related, and demand-driven supply chain disruptions? More on that here. 5 Procurement Increasing Its Focus on and Use of Data.

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Role-Based Training for Procurement & Supply Chain Teams

Skill Dynamics

Technology capabilities – updating tech knowledge such as software advancements in inventory management, supply chain optimization, and logistics. Strategic planning – vital for matching procurement strategies to overarching organization goals.

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Supplier Collaboration and Coordination. Who’s Your Role Model?

ivalua

When incorporated into an efficient strategic sourcing process, collaboration can result in better visibility into total costs and a better negotiation position. It goes beyond type of materials used and includes suggestions related to process, production, logistics, and more. Collaboration around margin enhancement.

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There Are Not Enough Women Supply Chain Leaders!

Supply Chain Game Changer

Time was, Supply Chain Management was seen as an outgrowth of a blue collar profession. Logistics Managers, Manufacturing Directors and other Supply Chain leaders often rose from the shop floor, from front-line warehousing and transportation positions.

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The Reality of Automation in Procurement!

Supply Chain Game Changer

It helps bring predictability to Strategic Sourcing, automates Transactional Procurement (or P2P cycle), and enables proactive Supplier Risk Management. Automation of procurement processes, along with a seamless integration of the other systems such as ERP, WMS, and TMS, will ensure enhanced supply chain visibility.