Since 2012, the peak year for oil prices, Crude Oil prices have fallen, and all chemicals users have enjoyed lower prices for Crude Oil derivatives. However, I believe this scenario will change in 2016 and 2017. In parallel fashion, Natural Gas prices have also fallen during same period, as shown in the graph below. This is important to note as both feedstocks drive price movements for chemicals. Read More
A new report, Is Your Luck Running Out? Managing Supply Risk in Uncertain Times, by A.T. Kearney and Rapid Ratings International, describes the current state of procurement involvement in supply chain risk management activities, potential risks that could affect the supply chain, and ways procurement can begin to better manage risk. Read More
It is important to have the appropriate number of FTEs to appraise suppliers and work with them to assess performance and identify improvement opportunities across organizational boundaries. By appraising and developing suppliers effectively, an organization can save money in the long run. Read More
Procurement teams that use group purchasing organizations (GPO) to help manage sourcing of indirect categories such as office, MRO and packaging and IT are satisfied with their performance and are seeing benefits from the relationships. That’s according to results of a new benchmarking survey that also asks the question: Why aren’t more procurement teams doing the same? Conducted by CoVest Sourcing Network, in cooperation with My Purchasing Center, the survey identifies the more popular spend categories, user saving experiences, best practices associated with GPOs and sources of value as well as deterrents to adoption. 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.
Bob Larrivee, Vice President and Chief Analyst at AIIM, describes the new white paper, Process Improvement and Automation 2016--A Look at BPM or Business Process Management, to Nikita Saharia Chaturvedi. What does this have to do with procurement? Larrivee suggests taking a holistic approach to BPM, and offers up tips for resolving such issues as why it takes so long to process a purchase order.
My Purchasing Center captures the supplier point of view on hot procurement topics in this interview with Carl Bergauer, Director, Contract Furniture, at Staples Business Advantage. Bergauer addresses early supplier involvement (in the procurement process), managing the tail spend, group purchasing organizations and the role of trusted advisor, a term coined by The Hackett Group’s Chris Sawchuk. On that trusted advisor role, Bergauer says a supplier must “earn the right.”
SMART by GEP
Sponsored Content. In too many companies, too many resources are spent on inefficient processes. Automating the processes frees procurement and others from mundane and repetitive tasks. Scary? It shouldn’t be. Read More
By definition strategic sourcing is a systematic core process within the larger function of supply chain management that encourages purchasers to plan, manage, and develop the supply base in line with a firm’s strategic objectives. This is accomplished thr… Read More
Nikita Saharia Chaturvedi
It should come as no surprise that small and medium-sized businesses are apprehensive of providing goods and services to big companies in spite of the fact that having such a business as a customer opens doors for the suppliers. SMBs say there are too many… Read More
Just envision what it would mean when a newly-minted CEO wants to understand what we do, takes the time to Google ‘Procurement,’ and sees overwhelmingly positive language like this in their search results. That CEO will be inspired and energized by the hyp… Read More
Staples Advantage is the one supplier that offers all the business solutions you need, all with the expertise of a specialty vendor. Read More
The work and purpose of the Purchasing Management Association of Boston today reflect the early intentions of its founders to "create acquaintance and foster the exchange of knowledge." Read More
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…
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…
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.
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 …