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.
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.
“Data! Data! Data! I can’t make bricks without clay!” -- Sherlock Holmes
The importance of good data cannot be overstated. Good data guides the decision-making process in any single endeavor, ensuring that information is on hand to direct … [Read More...]
Ivalua, a developer of an integrated spend management software suite whose roots lie in Europe, is beginning to make itself noticed in North America after nearly four years of uptake. That’s because after joining the fray that is the U.S. market of … [Read More...]
The skills gap within the manufacturing industry is a widely discussed topic. Shortages in skilled production positions such as machinists, machine operators, craft workers, and other disciplines are inhibiting manufacturers’ ability … [Read More...]
To be successful in today’s challenging business environment, procurement leaders must not only transform the function by identifying the right strategy for reducing costs, effectively managing suppliers, creating a competitive advantage, and … [Read More...]
Purchasing departments have always played a critical role in ensuring supplier compliance. New regulations, laws, and organizational requirements have expanded compliance requirements and caused them to take on even greater importance. The supply … [Read More...]