When the Covid-19 pandemic hit, it disrupted global supply chains which forced organizations around the world to scramble to react. While there are many lessons learned from the pandemic, especially as we are starting to see the light at the end of the tunnel, it was clear early on that some organizations were better equipped…
It would be hard to overstate the impact of the Covid-19 pandemic on organizations of practically every type. Industries that were prospering until last year are in bankruptcy now. Customer demand for a wide range of consumer goods has abruptly shifted. Countless public institutions and nonprofit organizations which had been viable until the beginning of…
For the moment, at least, it seems as though the course of the Covid-19 contagion is winding down. Even where its spread seems to be contained, the prospect of a second wave is very much on the minds of both public officials and private business leaders. So how does an organization plan ahead and position…
When China sneezes, the world catches cold. The uncontained outbreak of coronavirus in China is having ripple effects all around the globe. Not only has it has had a disruptive impact on personal travel plans and social relationships, it has also upended the supply chains in just about every type of industry. That had not…
Supply chains, more than ever, play an important role in defining competitiveness. However, emerging strategies for better managing spend and supplier relationships are helping to strengthen supply chain resilience and drive business growth. There’s no going back. We don’t visualize any situation where supply chain organizations can begin taking their foot off the pedal. Economic…
Back in the day, when factories served as the templates for developing business processes, the distinction between direct and indirect procurement spending was pretty straightforward: direct spend was focused on the things that went into your product – raw materials, components, subcontracted manufacturing services, and so on. Indirect spend, which some have leeringly referred to…
The process of managing suppliers can be a daunting task for organizations that deal extensively with a complex supply chain. This is largely due to the fact that in most organizations’ supplier information is split across various departments and data is collected using various applications. This creates issues when it comes to seeing the holistic…
As heated debates on everything from minimum wage to tariffs to state-sponsored cyber attacks continue in public and political spheres, midterm elections in the U.S. fast approach. Combined with rapidly emerging technology paradigms, labor issues, and the rising frequency and intensity of natural disasters, these factors create myriad challenges for procurement teams, manufacturers, and suppliers.…
Cost savings, production efficiencies, speed, skilled labor, expertise, and specialty materials — just a few of the many reasons why global supply chains are central and critical to the business and product success of most major brands. However, the rewards don’t come easy. Relying on raw material suppliers, manufacturers, and contractors from around the world…
When you try to reverse engineer the secret sauce for a wildly successful new product, you probably don’t start by wondering how the procurement team worked its magic. Engineering and marketing get all the glory when the latest gizmo becomes a customer favorite. As consumer expectations for quality, innovation, ethics, and cost continue to rise,…