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.
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...]
Whether managing costs, quality, or continuity, for procurement it’s all about the relationship -- with management, stakeholders, and, perhaps most important, suppliers.
That’s the word from Eric Walsworth, director of supply management at … [Read More...]
[Editor's Note: The following article is an excerpt from the upcoming book Supply Market Intelligence for Procurement: Research, Processes, and Resources co-authored by Jeanette Jones and Kelly Barner.]
Supply market intelligence adds a … [Read More...]