Procurement departments should clearly define a mutually agreed upon approach to calculating cost avoidance with other departments such as finance and corporate leadership to fully realize its value.
A good scorecard should be easy to maintain, engaging to suppliers while giving them a voice, and rewarding to good performers based on objective data collection. Here are three tips we recommend to improve yours.
Indirect spend items provide a massive opportunity for an organization to reduce costs. Use these three strategies to eliminate waste using minimal resources.
Companies target low-volume programs to provide more of the mass customization consumers demand. Use these six tips to take down common low-volume sourcing challenges.
While cost remains critical in any sourcing activity, don’t let it cloud your judgement when identifying potential supply partners. The five considerations highlighted in this blog are more important in the long run.
Strategic relationships with commodity suppliers will result in reduced risk and better long-term health for the supply chain, where organizations can insulate themselves from market risks, costs of high inventory, and high costs of supply shortages.
The ongoing US-China trade war may have your organization thinking about resourcing, so we’re here to tell you that it’s definitely possible. Follow the steps provided in this blog to move your production operation and avoid resourcing pain.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.