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.
Businesses often lease rather than own their vital equipment, whether it’s a construction company, restaurant, or medical facility. Leasing allows companies to lower their initial capital investments and other costs.
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...]
Very few sourcing and procurement topics have been researched and discussed as much as supplier management. Industry consultants have dedicated their entire practices to it. There always has been a scholarly and academic side to this precarious … [Read More...]
Don Jean, founder and CEO of FocusedBuyer, says he has innovation in his blood: “When I was in purchasing, I always wanted to know what was new and how something new could help us do something that would save the company money.”
Jean, an … [Read More...]
Businesses often lease rather than own their vital equipment, whether it's a construction company, restaurant, or medical facility. Leasing allows companies to lower their initial capital investments, as well as maintenance costs, while enabling them … [Read More...]