How Supply Chain Management Can Mitigate the Effects of Inflation Rising inflation can certainly disrupt the supply chain. However, those following best practices for supply chain management can mitigate the effects of inflation and keep things under control. According to supply chain consultant Pierre-François Kaltenbach, the “supply chain drives inflation, [and] inflation drives change in […]
Strategic Sourcing Solutions to Enhance Your Bottom Line Strategic sourcing is vital to procurement and the supply chain overall, as it allows companies to gain the lowest cost of a good or service while minimizing supply chain risk. While efficient sourcing is achieved by finding, engaging, and evaluating vendors to get the best value and […]
Why You Should Choose Companies with Green Supply Chains There is no denying that companies with green supply chains are becoming more and more the norm. A green supply chain reduces the harm that may occur at any stage of the procurement cycle—production, purchasing, logistics, material management, or distribution. It also contributes to reducing a […]
Sourcing is an integral part of procurement management and an upstream part of the supply chain, affecting its overall success. Sourcing is the acquiring of goods and services needed to run a business or make a product. However, sourcing is more than just acquisition—it also involves seller selection, negotiation for contracts, and evaluation of your […]
Global supply chain optimization is simply taking a closer look at and revamping your current supply chain to operate at its best. Your supply chain is the backbone of your business, no matter what role you play in purchasing and procurement. Global supply chain optimization requires solid supply chain management (SCM). So, what is supply […]
5 Benefits of Global Sourcing in Supply Chain Management The importance of quality in supply chain management is undeniable. When the topic of global sourcing comes up, procurement managers often balk at global sourcing in supply chain management because they worry they will have to sacrifice quality or delivery when using global suppliers. While it […]
The Importance of Using Supply Chain Management Software in Procurement The importance of using supply chain management software is notable because of the importance of the supply chain itself. When you’re trying to control the entire procurement process within the supply chain, you want to make sure that you have the best software for your […]
How to Optimize the Reverse Auction Process Just like it sounds, a reverse auction is the opposite of that of a regular auction. If you’re wondering, “what is an e-reverse auction?” it is a step in the procurement process where sellers compete against each other to sell you their product or service as opposed to […]
Supply Chain and Risk Management Software In all stages of the procurement process, there are risks. There is the supply chain in the overall big picture, of which procurement is involved. Suppose you think about the main purposes of procurement. In that case, they are essentially the preparation and processing of a demand needed to […]
Top 5 Reasons You Need Procurement Tracking Software Once upon a time, companies had to manage purchasing departments and procurement management as though it was the Dark Ages. Everything was done by hand—there were no computer software programs to help, there were no emails, and there were no spreadsheets. Everything was written and manually filed, […]