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,…
Zycus brings to you the worlds most famous consultative detective – Sherlock Holmes in an entirely new role. Procureperformance.com is the destination where procurement professionals will witness Holmes in an entirely new role. Test your skills in solving some of the intriguing cases related to procurement alongside Holmes & his trusty sidekick Dr. Watson. Play the procurement…
In 2011, among the first were the Japanese Tsunami that wreaked havoc on the semiconductor and automotive industries and the Thailand floods, which drove computer and hard drive manufacturers to put on their fly fishing waders to determine how much damage they had incurred in their supply chains! Organizations have begun to think about how to find their ways in rugged ecosystems, and how to co-evolve with supply…
We recently caught up with Andrew Bartolini, Chief Research Officer at Ardent Partners and publisher of the site, CPO Rising (www.cporising.com), to see if he had any advice for sourcing professionals . These were his recommendations:
1. Manage careers aggressively. Start by asking for a raise.
We believe that experienced and talented sourcing professionals should ask for raises immediately, especially those who have not…
In part 1 of the series we looked into the list of common issues and errors related to accounts payable processing that are found in most organizations. Part 2 of the two part series will look into how Supplier Information Management (SIM) can help address some of the issues related to Accounts…
Accounts payable is amongst the largest disbursement related functions after payroll. This function is also characterized by processes which are transaction intensive in nature and are more often than not carried out in a manual manner, leading to inefficient tracking and errors related to accounts payable processing. This invariably leads to loss of productive time and also increases the operational costs as discussed earlier.
In the…
E-sourcing solutions have been the corner stone of strategic sourcing initiatives in global organizations for over a decade. But with the change in the business landscape and increased complexity comes the need for e-sourcing solutions to evolve.
Sourcing events have become increasingly complex and evaluating suppliers and supplier bids requires more sophisticated analysis tools to get optimized results. Also the sourcing process now needs to be handled as a full…
