Procurement Archives - Page 7 of 9 - Supply Chain Game Changer™

Total Cost of Ownership Procurement Model Failure – What’s Missing?

The Single Point of Failure in Supply Chain – Semiconductor Fabrication!

Many businesses use some form of Total Cost of Ownership model to support their Procurement and sourcing decisions. In fact these models are not just used casually, but they often are designed to inform and make optimal sourcing choices.

But many dynamics that we have experienced in the last few years suggest that these models are less than optimal. From chronic global Supply Chain breakdowns during the pandemic through to disruptions caused by outsourcing and single points of failure, sourcing decisions have been exposed as being less than ideal.

What is the current nature of these Total Cost of Ownership models, and what needs to change to make their use more robust and responsive?

What is the Best Supplier Vetting Process?

Strategic Supplier Relationship Management – Do’s and Don’ts

Does your business rely on at least one supplier? Or do you need multiple suppliers in order to perform your daily operations? Either way the quality, reliability, and value for cost of your suppliers and supplier vetting is crucial to your organization’s success.

On the other side, if your suppliers don’t live up to the standards you require, your organization can be damaged.

Suppliers can tarnish your reputation by causing you to deliver unsatisfactory products to your customers. A supplier with internal problems can delay your orders, making you miss deadlines and break promises. Late or low-quality products could cause you to lose major customers or be forced to process refunds.

It’s vital, then, to use a consistent Supplier Management system to vet excellent suppliers and secure the ones that will help your brand to stay strong.

Imagining the Supply Chain of the Future!

Quantum Leap to the Top 10 Supply Chain Skills of the Future!

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Imagine what the future will look like in Supply Chain!

We don’t mean the near future, but the very distant future. There are articles which describe what the future of Supply Chain will be like in 2025, or even 2030.

But is that enough of a far-reaching vision to offer much more than an incremental view of what we see today based on existing technology?

Any view of the near future is more likely to describe incremental changes and incremental advancements based on the current knowledge base. But an extremely distant vision of the future is more likely to offer revolutionary ideas as to what future possibilities are.

7 Reasons to Hire on Contract for Supply Chain!

10 Hiring Mistakes in Supply Chain! (Infographic)

Economists have done a lot of analysis on the rise of the so-called “gig economy.” More workers are using short-term contracts and other forms of hire on contract employment to provide additional income to supplement or replace permanent jobs – think Uber, DoorDash, etc.

But more and more companies in a variety of industries are also bringing on high-skilled contingent labour for white collar positions in a number of impactful business functions like Technology, Procurement and Supply Chain.

Our 2019 Top 10 List!

Here at Supply Chain Game Changer our fundamental mission has been to share experiences and expertise in the areas of Supply Chain, Logistics, Distribution, Procurement, Business, Human Resources and more. We now present our 2019 Top 10 list.

In our 3rd year at Supply Chain Game Changer we have had the tremendous opportunity to share more content created by ourselves and a growing number of Guest contributors.

With new articles provided to us every week our audience is allowing us to share ever more engaging content and their incredible intelligence for the benefit of all. We extend our thanks to all and invite everyone to submit articles for our consideration.

Here at the midpoint of 2019 we would like to share the 2019 Top 10 List of our most viewed articles of 2019!

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Spreadsheets – A History and a Future!

How Artificial Intelligence (AI) Will Change Decision Making!

Most of us create, use, present and work with at least one spreadsheet each and every day. Spreadsheets have proven invaluable. And many businesses even observe, and complain, that they are run on spreadsheets.

Yet there was a time not that long ago when most people didn’t even know what a spreadsheet was. In the early 1980s I was given one the first IBM Personal Computers to use, along with the spreadsheet software Visicalc. Spreadsheets forever transformed my productivity and skill set.

Suppliers are Friends, not Food!

Strategic Supplier Relationship Management – Do’s and Don’ts

“Fish are friends, not food.” Similarly Suppliers are friends and not food.

Bruce, a great white shark, and his two shark friends gather alongside Dory and Marlin, taking a sacred oath, swearing off eating fish. This scene became an instant classic in the homes of the hundreds of millions that have seen Pixar’s mega-success, Finding Nemo.

If you’ve never seen the film, treat yourself by watching this clip below, and directly after you finish this blog, do yourself a favor and stream the entire film.

Now…
Is there something to be learned from this quote in Finding Nemo, that we can apply to procurement and sourcing? As buyer and suppliers aren’t we all living in the same ocean, existing in the same ecosystem, and working towards the same value creation?

Procurement Powerplay: The Winning Formula for Seamless Success in Purchasing!

Featuring Our 12 Best Procurement Articles!

In a realm known as the bustling world of business, procurement holds the key to unlocking the secrets of wise purchases and seamless operations. Today, we embark on an epic adventure to discover the winning formula and untapped potential of the Procurement Powerplay Quest, where you will learn the secrets of success in purchasing.

16 Questions that Keep Supply Chain Managers Up at Night! (Infographic)

The Disintermediation of the Supply Chain!

With so many things currently happening on the container shipping front, we bet supply chain and logistics managers are having a hard time focusing. There are are certainly many questions that keep supply chain and logistics professionals up at night, regardless of the current socio-economic and geo-political situations.

Have a look at our infographic to remind you of 16 things you should always keep in mind when looking at supply chain and logistics.

Strategic Supplier Relationship Management – Do’s and Don’ts

Procurement Don’t go to the Dark Side!

Shortly after I joined the Commodity/Category Management Procurement organization I was invited to attend the annual Strategic Supplier Awards event. It was all about Strategic Supplier Relationship management.

There were Executives from dozens of Suppliers in attendance. The event concluded with award recognition given to Suppliers based on their scoring and standing as being of Strategic value to the company.

Prior to joining the Procurement team I had neither understood nor appreciated the importance of Supplier Relationship management. But having seen how motivated and inspired these Suppliers were I started to understand.

But in the weeks, months and years to come I also became much more informed about the good and bad aspects of Supplier Relationship Management.

From company to company I came to develop a list of Strategic Supplier Relationship Management “Do’s” and “Don’ts”.

5 Qualities of a Reliable Supplier!

What is Supplier Relationship Management (SRM)?

Your business is only as exceptional as the goods or services it offers, and to get exceptional products, the right supplier is a must.

Whether you’re starting a new line of products from scratch or looking to revamp your shelves, here are five qualities of a reliable supplier to prioritize.

Enable Spend Aggregation in Procurement!

Spend Aggregation Obstacle Course for Procurement!

Aggregating your procurement spend for the purpose of delivering greater value is a sound objective. Theoretically you should be able to generate better service, better terms and conditions, and better cost. Therefore you should enable spend aggregation.

Yet there can be many obstacles in your way to achieving this seemingly simple goal. Loss of control, fear of job loss, questionable benefits, and a perceived loss of margin are some of the obstacles you may run across. We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course!

Supplier Synergy: Aligning Your Business Goals with the Right Supply Chain Partners!

What is Supplier Relationship Management (SRM)?

The partnership between businesses and their suppliers is the linchpin upon which success pivots. Understanding mutual objectives lies at the heart of effective collaboration. The synergy between a business and its supply chain partners is not merely a transactional necessity; it’s a strategic imperative.

Keep reading as we explore the intricacies of selecting Supply Chain partners whose values and capabilities resonate with your business objectives.

From defining clear, measurable goals to nurturing enduring relationships built on trust and communication, we uncover the strategies that drive businesses toward sustained prosperity.

Purchase Price Variance (PPV)! A Profit or Loss Opportunity?

Featuring Our 12 Best Procurement Articles!

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EBOOKS HERE

Purchase Price Variance, or PPV, is a common term in the realm of Purchasing/Procurement and Finance.

For some, PPV is a mechanical metric only, measured and reported on but without any further attention paid to it. For others it is tightly managed, actioned and used to determine Procurement’s effectiveness in either reducing losses or generating profit. Still for some others it isn’t even on their radar.

In my experience proactive, attentive, and detailed Purchase Price Variance (PPV) can make an incredible contribution to the profitability of a company. To ignore or downplay it is to lose sight of both the potential to drive profits and the exposure to incur losses.

What exactly is PPV, how can it be managed, and what is the strategic value of investing time and energy in this metric?

Why $0.001 Matters!

Purchase Price Variance (PPV)! A Profit or Loss Opportunity?

As the old saying goes, “Take care of the pennies and the dollars will take care of themselves!” This phrase, or rather the British version thereof, is attributed to William Lowndes, who lived from 1652-1724. And taking care of the penny is as true now as it was those many centuries ago.

Any savvy professional who works in Procurement or in Finance knows that this adage applies to everything they do. But it is not only the pennies that matter any more, but the fractions of a penny are just as important as ever.

Micromanaging the fractions of a penny across hundreds and thousands of skus in your inventory can add up to substantial savings, and profits, for any company astute enough to understand the opportunity.