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.
As a natural progression, Banneker Industries in Rhode Island interestingly evolved from a machine shop to a 3PL (third-party logistics) provider. Today, it is still pushing forward, believing that operating responsibly, as an environmental citizen, will produce success for the future.
In Part 1 of a three-part series, we began looking at the Institute for Supply Management’s 100-year-old charter of principles and standards for purchasing practices. Here we see if more tenets still hold true today.
[Editor's Note: This is the fourth article in a series covering topics related to total landed cost by contributing writer Marilyn Gettinger. See links to her first three articles at the end of this article.]
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