Strategic Insights for Procurement Performance
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In part 2 of the 5 part series on Manufacturing & Direct Material Sourcing we saw how leading manufacturers are beginning to factor a total cost understanding into sourcing strategies. In part 3 of the series we delve into the third key tactic – Total Cost Visibility – Total Cost Modeling at the Center of Buying and Supply Chain Activity.
Total cost modeling is an increasingly…
In part 1 of the 5 part series on Manufacturing & Direct Material Sourcing, we saw how commodity forecasting, planning and true visibility into savings tracking and budgeting impacts form the nucleus of newer procurement initiatives. In part 2 of the series we will have a look into the second key tactic organizations are deploying…
The challenges and scale of the opportunity posed for working in procurement within manufacturing have grown dramatically in the past few years. But technology adoption hasn’t kept up. At best, we’ve seen transformations in the function leveraging certain technologies (e.g., reverse auctions as process crutch to implement five-step or seven-step strategic sourcing processes on a mandatory basis). But looking forward, we’re about to enter…
According to the latest Procurement Key Issues study by The Hackett Group, managing supplier risks is cited as the second most important concern for procurement in the next year. In addition, the report notes that the concept of supplier risk has broadened from one of supplier viability and continuity to an approach that includes supplier compliance with both regulatory and performance requirements.
In spite of this,…
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