Organizations usually face a challenge, determining what will be the contribution of the strategies to be implemented and how they will impact their results. In other words, What is the Total Cost of Ownership (TCO)? Savings obtained by companies that apply strategic supply are between 5% and 20% of total spending. And this is… Continue reading
If you are a procurement professional you should have heard about 7 step strategic sourcing process, but if you are not a hardcore procurement pro it is likely you might don’t know what it is about. This blog explains 7 step strategic sourcing process with no non-experts. There is a difference between Strategic Sourcing… Continue reading
The question of purchasing vs procurement is one of the frequently asked questions. In this blog, we have explained the difference between purchasing and procurement. THE EVOLUTION OF PURCHASING TO PROCUREMENT AND THEIR RESPECTIVE DEFINITIONS. Purchasing surfaced in our world in the first gained prominence during World War 2. It was done as a clerical… Continue reading
The use of Supplier Segmentation for supply base implies categorizing suppliers through analysis and prioritization process solely to allocate suitable resources, manage and monitor them. Unfortunately, no one supplier segmentation applies to every business model. Today, segmentation complexities require multidimensional matrices to address all associated peculiarities and risk factors. So, What is the Supplier Segmentation… Continue reading
The wonders of artificial intelligence are reaching more corners of modern industry each day. The simple reality is that in order to stay ahead of their competitors, companies have to welcome Artificial Intelligence into their operations or more specifically Artificial Intelligence in Procurement, using the technology to make long and tedious processes easier for human… Continue reading
A firm’s raw material sourcing knowledge can be a strategic resource. China is notably a vast country with a fantastic workforce that ensures several products can easily be exported at affordable rates. Importing building materials from China comes with several benefits’ dependent on your personal or business needs. For building materials from China, the wholesale… Continue reading
How many Procurement Problems you face in your day to day job? Would you be able to list them? And which ones will be the biggest pain points to resolve? For me the biggest problem I see for any procurement function is to shifting procurement’s ‘traditional focus on short-term cost savings’ to a more holistic… Continue reading
To start with, how many Facebook Groups are you in right now or what is the best Facebook group for Supply Chain is? I bet we cannot tell or give a precise number. I know I could not do the same, as well. I could also bet on a few groups that come to mind… Continue reading
Some third-party vendors may provide you with goods, services, and many other supports. Would you be able to track everything manually? What is your strategy for effective supplier relationship management? If not, then what’s the solution? It’s simply following the supplier relationship management strategies. Why is effective Supplier Relationship Management so important? If with some strategic… Continue reading
Staying up to date with persistent changes is amongst the challenges facing most procurement professionals nowadays. The field of Procurement has regularly encountered the difficulties of getting up to time with top organizational and technological changes. The importance of keeping up with the latest innovations and technological changes is what births the idea of creating… Continue reading
Excess and Obsolete Inventory Policy Guide
is a Manufacturing Operations, Procurement and Supply Chain leader from international multi-site manufacturing experience in Electrical, Hydraulics and Internet industries
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