Blanket purchase orders is a way that may allow buying organizations to cut the red tape in repetitive purchasing and spur efficiency. But to make blanket POs work, procurement must do some things differently, such as demand and supply forecasting.
Compliance management must move up from being an afterthought to the top tiers of organizational, supply chain, and supply management strategy. In many instances, supply professionals own responsibility, and in others they share management requirements with other supply chain stakeholders.
Vendor-managed inventory programs aren’t new, but many companies still do maintenance, repair, and operations supply management the old-fashioned, tactical way. It is inefficient and costly compared with the automation and accurate inventory record-keeping of VMI.
The tactical focus of driving down costs in supplier management has worked historically, but times have changed. Today, supplier management is about innovation and collaboration, to mitigate risk, rationalize complex supply networks, and differentiate among saturated competition.
Procurement is by nature the biggest producer of financial data in most companies. Many believe it could do a better job aggregating and analyzing that data so organizations can not only better understand the best ways to spend and save money but … [Read More...]
In a May article for InformationWeek’s Government section, former U.S. Transportation Department CIO Nitin Pradhan provided 10 steps to successful strategic sourcing. Included in his list was a recommendation for increased use of blanket purchase … [Read More...]
Supply professionals are challenged today to manage compliance throughout their supply chains. In many instances, they own responsibility, and in others they share compliance management requirements with other supply chain stakeholders.
There is a … [Read More...]
Often within the maintenance, repair, and operations (MRO) space, inventory management is a recurring and commonplace issue. In many cases, companies are operating purely on a tactical basis. As parts run out, the buyer reorders. Even worse, when a … [Read More...]
Backdoor or maverick buying is a perplexing problem that plagues many purchasing organizations. The methods to counteract this behavior are highly dependent upon the cultural climate and ethical standards of your organization. There is no universal … [Read More...]