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Thursday, April 24, 2014

A Look at the ISM Original Purchasing Practice Standards, Part 3

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.

Success in Global Sourcing: Making a List and Checking It Twice

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.

Procurement Retools its Focus to Innovation and Value

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.

Saving Money Like a Madman on Wireless Spend

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.

Small Changes through Kaizen Yield Spectacular Results

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.

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