This is where procurement comes in. As leaders of cross functional strategic sourcing teams, procurement is responsible for selecting suppliers and managing their performance. With access to market intelligence such as the REL study and sophisticated tools such as dynamic discounting and supply chain financing, procurement can influence DPO by ensuring the figure is in line with market norms. Read More
Businesses that collect big data insights are finding that they can refine global procurement strategies and processes with greater precision than ever before. They also can intervene more effectively to resolve problems and challenges, and they can use concrete data instead of intuition and instinct to accomplish this work. One study by the Massachusetts Institute of Technology’s Sloan School of Management finds Read More
"Gary is a consummate professional with a proven track record of driving increased operational quality and cost structure improvements," says Joseph M. Gingo, Chairman, President and Chief Executive Officer. "He will play a critical role in restoring A. Schulman's operational and financial performance worldwide.” Miller will report to him. Read More
Source One Management Services
Whether supporting your sales department or the delivery of your products, a well-equipped and well-managed commercial fleet department is crucial to a well-oiled (pun intended) company. However, sourcing fleet components can be a daunting task. With volatile cost components like fuel, and varying maintenance labor rates, finding savings opportunities while maintaining program consistency can be challenging. 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.
Jeff Augustin, Managing Director at Alsbridge, a global sourcing, benchmarking and transformation advisory firm, describes “the current state” of vendor management and benefits companies can expect from implementing best practices. An assessment, he tells My Purchasing Center, will help identify gaps that can lead to improvements. “We work hard putting contracts in place, it’s only right that our organizations enjoy the benefits of these efforts,” he says.
Chuck Intrieri of Charles M. Intrieri Consulting describes his experience with value analysis to My Purchasing Center. As he sees it, VA “reduces costs of a part without sacrificing quality.” Intrieri provides a simple how-to, a case study and tips for procurement professionals going forward. Frustrated by what he sees as a lack of interest among companies in VA, he suggests procurement stop thinking about it and try it. “VA works.”
When it comes to managing an organization’s spend through a procurement policy framework, procurement professionals often face a conundrum. Do we use the information from a collection of isolated incidents and exceptions to build a rhetoric-based approach … Read More
Now, executives are realizing that good procurement can be perhaps the biggest contributor in an area in which organizations are being increasingly evaluated: Social responsibility. Read More
Could list prices be a thing of the past? The list price is also known as the “original price” or the “manufacturer’s suggested retail price.” List prices are typically higher than the prices of the goods listed and the user sees the difference in the form… Read More
Nikita Saharia Chaturvedi
“Brexit put trade deals into question, and what this means for many companies, is that their total landed cost will now be substantially different, if higher tariffs get imposed by the UK as a non EU member,” Vakil says. “Once the new rules are implemente… 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
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
Abstract: Understanding what can happen at the U.S.-Mexico border with your truckload shipments could impact the decisions you make—and whether or not you will actually get what you pay for. By reviewing the process and your options, you will be able to develop better, more efficient strategies to …
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.