Supplier consolidation facilitates volume consolidation and enables higher bargaining power for the buyers. It also reduces the administration costs for the buyer as they have to manage fewer suppliers. This ultimately generates more time for procurement department to address critical issues of the procurement strategy. Though supplier consolidation generates a lot of benefits, it also raises few concerns among category managers Read More
The turn of this decade has witnessed an exploding demand in digitization and industrial processes such as 3D printing (3DP) techniques. The adoption rate of these techniques vary across industries and geographies. Industries such as automotive and high-tech have seen very quick adoption levels in new technology, leaving the energy industry relatively slow in embracing this trend. Why is this the case? Read More
Source One Management Services
Proposal revisions can be a needless back-and-forth battle that is both time-consuming and, at times, even frustrating. So, as a supplier, what can you do to avoid the back and forth of numerous revisions? Here are four guidelines for a supplier to follow before submitting an RFP (Request for Proposal): Read More
In his new book, Outsourcing MRO: Finding a Better Way, George Krauter shares with procurement, maintenance and other practitioners his experience working in the MRO industry for the past 50 years. In short, the book presents readers with Krauter’s thinking that change releases the real value of MRO. “Many plant managers and buyers don’t understand MRO because it makes up just 5% or so of their annual budget,” Krauter, a Vice President with Synovos in Radnor, Pa, tells My Purchasing Center. Read More
In this video, K2 Sourcing provides perspective on reverse auctions for procurement. If you take one thing away from this presentation, it is that a reverse auction is one of many tools to help automate the strategic sourcing and, ultimately, the category management process.
In this 60-minute training video session given by Rod Sherkin, President of ProPurchaser, you will learn how to work more constructively with suppliers to drive down costs together, while strengthening your supply chain.
In part 4 of the Source One video series, Kathleen Jordan completes the discussion on marketing and sourcing with a case study that demonstrates how sourcing can benefit from partnering with a consulting firm to address marketing’s needs.
Resilinc CEO Bindiya Vakil describes the Brexit vote in procurement terms to My Purchasing Center’s Nikita Saharia Chaturvedi, including risks associated with labor—manufacturing may decline, costs rise. Still, Vakil says disruption also presents opportunity “to change the game” and companies that understand the supply chain can use that power to gain competitive advantage. She offers helpful tips as well.
Bill Michels, CEO at Aripart Consulting, speaks with My Purchasing Center on the UK’s recent decision to leave the EU and what it means for procurement. Michels sees long-term implications on global trade (what will it look like in 10 years?) and advises procurement “to build a strategic plan that will unravel complexities for stakeholders and management.” This is a core competency for procurement, he says. Michels also suggests procurement work closely with finance on currency issues.
“If a company does not have a succession plan, the CPO should take the lead and use his or her influence to get it on the corporate agenda. It’s also important for procurement to make sure the company’s critical suppliers have succession plans,” says Micha… Read More
Procurement: As part of your strategy to increase supplier involvement and collaboration in product improvement, cost reduction and continuous improvement activities, you should consider a Supplier Value Analysis program. This program is part of a long-ter… Read More
A Supplier Day is a concept where procurement brings in main suppliers by commodity or criticality of spend for collaboration and continuous improvement. It’s also an opportunity to tap suppliers for knowledge, cost reduction and quality improvement. Read More
The decision by UK voters to leave the EU has sent shockwaves through global markets. As details of Brexit begin to unfold and more questions arise than we have answers for, one thing is certain: A decision of this magnitude will have pervasive effect on g… Read More
It started in 1972 with an idea, a new concept in distribution. Today, Digi-Key Corporation is one of the fastest-growing electronic component distributors in the World. The stimulus for this growth is Digi-Key's customer-centered business philosophy… Read More
Lunney Advisory Group was founded in 2007. Our firm is not your typical consulting company. Some members of our firm are highly qualified and experienced industry executives/practitioners while others are full time or adjunct university professors.… Read More
A comprehensive study done by AT Kearney in late 2014 showed that 75 percent of procurement organizations have not improved their productivity since 2011. This seems hard to believe given procurement’s constant push for efficiency gains, declining commodity prices, and the rise of technology designe…
As we move into a 2016, it’s a safe prediction that buzzwords will continue to dominate the business world. 'Strategic sourcing' is one buzzword that has permeated the procurement function for the past 20 years, but is often hard to describe. Almost every large procurement organization claims to be …
Anecdotal evidence and some qualitative research suggests that "favored shippers" - companies for which carriers prefer to haul freight - obtain better pricing and service. But do they? In this paper, Iowa State University researchers explain: How they sought to understand the voice of U.S. truck…
Tamr and My Purchasing Center are partnering to bring you some of the best information published on procurement performance metrics in a new guide. We selected these articles so you can benchmark what you’re doing at your company with what procurement experts are advising.