Procurement Insights
NOVEMBER 4, 2024
EDITOR’S NOTE: More than two decades ago, the foundational elements for successfully utilizing advanced, self-learning algorithms to optimize the procurement process using an agent-based model were well established. Monte Carlo) used to determine supply chain optimization. If so, what was it? I hope this helps.
Procurement Insights
JANUARY 22, 2024
MUSING #1 In the age of information, it’s surprising that supply chain digital transformation isn’t as readily available as one would expect. Are you optimizing your negotiations amidst all of the chaos? So, I put the following search term into Google, “optimizing your negotiations amidst all of the chaos?
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SCMDOJO
MARCH 28, 2023
Blockchain technology is revolutionizing the way businesses manage their supply chains. By providing a secure and transparent way to track products from their origin to their final destination, blockchain for supply chain can help increase efficiency, reduce costs, and improve trust between suppliers and customers.
Procurement Insights
SEPTEMBER 30, 2023
In reality, however, we operate in a world in which synchronization between diverse (and now global) stakeholders have to exchange and quantify disparate data on a real-time basis, and therefore, the term supply practice would be a more appropriate description. I will also include the link to the original post to provide greater context.
Procurement Insights
AUGUST 14, 2024
Supporting the Liquor Control Board of Ontario (LCBO) during a rail strike requires a procuretech provider that offers strong supply chain visibility, risk management, and flexibility in sourcing and logistics. Supply Chain Visibility and Risk Management 3. Cost Management and Efficiency Optimization 5.
SCMDOJO
FEBRUARY 29, 2024
Managing and optimizing a supplier’s performance is as essential as it is difficult. Supplier performance management provides detailed information about the risks your suppliers may have, so you can take action to reduce or eliminate risks in your supply chain. Price isn’t everything. How is it possible?
SCMDOJO
FEBRUARY 19, 2024
While Lean focuses on eliminating waste and optimizing processes to achieve seamless workflow, Six Sigma targets reducing variation and improving quality through data-driven analysis and statistical tools. – JIT deliveries cause congestion in the supply chain which leads to delays, pollution, shortage of workers, etc.
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