This is the conclusion of a three-part series looking at how the Institute for Supply Management-New York’s Principles and Standards of Purchasing Practice written a century ago can be interpreted for today’s purchasing professionals.
The ability to offshore, nearshore, onshore, or insource is a critical business capability that can reap significant revenue and profit growth. To make the correct global sourcing decision, supply professionals must help their organizations by asking the right questions.
Hackett Group research notes that this year, many chief procurement officers will be moving their main focus away from cost management to expanding procurement’s influence and finding ways to grow innovation.
Earl “Madman Muntz” was an acclaimed maverick salesman from the 1940s through the ’60s, whose ideas included bare-bones TVs for high-signal markets. Today, buying organizations can take a page from him by forgoing “do-everything” wireless plans in favor of stripped-down ones that meet users’ needs.
Kaizen is Japanese for “change for good” and the continuous process improvement philosophy widely used by businesses big and small. Kaizen is an opportunity for procurement to take the lead in improving spend.
In 2013, the Institute for Supply Management-New York celebrated its centennial with a look back over the milestones and accomplishments of its first 100 years as a professional association. One of the milestones was the establishment of common … [Read More...]
The ability to offshore, nearshore, onshore, or insource (producing at the organization’s own location) is a critical business capability that can reap significant revenue and profit growth -- or significant headaches.
Organizations today and in … [Read More...]
Chief procurement officers (CPOs) and procurement teams: Hang on. Change is coming.
New research by The Hackett Group shows that while some things will stay the same for procurement, others are going to be very different. The research also … [Read More...]
Earl Muntz, born in 1914, was a constant tinkerer and a man with wildly varied business interests. Throughout his business career, he was widely recognized for his entrepreneurial skills and boisterous character, with his “Madman Muntz” used-car … [Read More...]
Charged with leading process improvement? Stop beating yourself up over it!
That’s the thinking of Dr. Tom DePaoli, management program director at Marian University in Fond du Lac, Wis. DePaoli, also the CEO at business consulting firm Apollo … [Read More...]