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Enhancing collaboration pays off, both by increasing transparency with suppliers and improving the bottom line through multi-tier supplychainvisibility. Analytics also help you better evaluate potential suppliers, pinpoint cost-saving opportunities, and strengthen future sourcing strategies.
While many manufacturers rely on ERP systems for procurement, these platforms are designed for broad business management rather than the intricate demands of sourcing, supplier collaboration, and cost control in a manufacturing environment.
Video Source: [link]. Consumers are the biggest source of food waste in developed countries as they discard at least 20-30% of what they purchase. And problems in harvesting, quality standards, storage, shipping costs, and handling all create food waste. Table Source: [link]. ” Source: [link].
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 supplychainvisibility.
Here are the top 3 concerns likely to dominate the agenda for CPOs in 2025: SupplyChain Resilience and Risk Management Sustainability and ESG Compliance SupplyChainVisibility Conclusion: CPOs in 2025 will need to navigate a complex, fast-changing landscape shaped by technology, sustainability, and global uncertainty.
The other effect that holidays have on the supplychain, however, lies at the other end: manufacturing. Especially for companies sourcing goods from China, Chinese (or Lunar) New Year marks a 2-week (and often longer) holiday for Chinese manufacturers. In this case, supply completely drops off as manufacturers are closed.
When you conduct an audit, focus on things like each supplier’s performance data, product and process management, how the company operates, the structure of their qualitymanagement system (QMS), and personal interactions with other staff. . Sole source suppliers.
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