Sat.Apr 29, 2023 - Fri.May 05, 2023

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Procurement Strategies Manifest from Uncertainty

CPO Rising

There is no doubt that uncertainty is permeating the four walls of today’s enterprises. Many unknowns have yet to be revealed, leading to more conservative and risk-averse business decision-making. Chief procurement officers, among others, continue to operate in a new normal where answers to business challenges are elusive.

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Three Reasons to Modernize EDI Infrastructure

Supply Chain Brain

Electronic data interchange (EDI) has been the standard for B2B supply chain communication since the 1960s and early 1970s, but it's time for an upgrade.

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Trending Sources

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Sustainable Transformation — Embracing Sustainable Procurement

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Sustainable Transformation — Embracing Sustainable Procurement Sustainable transformation is needed to adapt and survive the new wave of challenges in the procurement process. However, how do you do it? In this article, we will discuss what sustainable transformation is.

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When Should My Small Business Create a Procurement Function?

Una

When Should My Small Business Create a Procurement Function? Tips for small business owners on how to implement a procurement function as your organization scales – and before it’s too late. By Hugo Britt | May 2, 2023 Search If you know anyone who is launching a small business – perhaps a family member or former colleague – you could do them a huge favor by explaining why they need to create a procurement function as early as possible.

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From Reactive to Resilient: Charting Your Supply Chain Maturity

Learn strategies to develop supply chain maturity and save on costs. In this webinar, supply chain industry experts share insights and best practices for enhancing supply chain efficiency, resilience and adaptability. Delve into the stages of supply chain maturity, from foundational management to advanced optimization and innovation. Discover actionable first steps to boost your operations and reduce costs.

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Tackling sustainability in procurement

SCMR (Supply Chain Management Review)

Make visibility and collaboration central to sustainability efforts.

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Managing Tail Spend: Strategies for Effective Cost Control

Procurement Foundry

What is tail spend? Tail spend in procurement describes infrequent, low-value purchases that can add up significantly over time. These small purchases may include office supplies, maintenance and repair services, travel, and small equipment purchases. The term "tail" refers to the end of a distribution curve with many small transactions.

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4 charts show how cargo diversions are playing out in the US

Supply Chain Dive

Shippers have been diverting cargo for years now, but where exactly is it going? A few datasets provide a hint.

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Sustainability in Specifications — Embracing Sustainability

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Sustainability in Specifications — Embracing Sustainability Sustainability in specifications allows businesses to ensure that they are following their sustainable requirements to achieve success in sustainability. However, what is it?

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100% uptime for renewable energy sources

SCMR (Supply Chain Management Review)

The recent column discussed how global policymakers have been relatively ineffective in using diplomacy to come up with a coordinated plan toward a world free of fossil fuels.

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Supply Chain Weekly Wrap-Up 04/28/2023-05/04/2023

All Things Supply Chain

Apple sales fall but iPhone demand persists Apple sales have continued to fall, as the economy slows and buyers, squeezed by rising prices, put off purchases of computers and iPads.

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The 2nd Generation of Innovation Management: A Survival Guide

Speaker: Chris Townsend, VP of Product Marketing, Wellspring

Over the past decade, companies have embraced innovation with enthusiasm—Chief Innovation Officers have been hired, and in-house incubators, accelerators, and co-creation labs have been launched. CEOs have spoken with passion about “making everyone an innovator” and the need “to disrupt our own business.” But after years of experimentation, senior leaders are asking: Is this still just an experiment, or are we in it for the long haul?

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Bed Bath and Beyond bankruptcy hits Ryder profits

Supply Chain Dive

The logistics company provided distribution management services for the bankrupt retailer.

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Challenges in Sustainability Faced by Procurement Teams

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Challenges in Sustainability Faced by Procurement Teams Adopting sustainability in procurement has many challenges that the procurement team must address to aim for sustainability. However, what are these challenges? In this article, we will discuss what sustainable procurement is.

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[Pod] Bed Bath & Beyond’s Decline from Superstore to No-more

Art of Procurement

Bed Bath & Beyond was founded in New Jersey in 1971. Popular for its effective use of the ‘superstore’ concept, The post [Pod] Bed Bath & Beyond’s Decline from Superstore to No-more appeared first on Art of Procurement.

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How Much Cost Savings Can I Achieve Using Reverse Auction Software?

ProcurePort

What is Reverse Auction Software? Reverse auction software is a digital platform that enables buyers to solicit bids from multiple suppliers in real-time. Unlike traditional auctions, reverse auctions involve suppliers competing against each other. The lowest bidder wins in this auction, not the highest. They must offer the lowest price for the product or service. […] The post How Much Cost Savings Can I Achieve Using Reverse Auction Software?

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Autonomous AI Agents Are the Future of Procurement and Supply Chain Operations

As early as next year, procurement and supply chain operations will begin to adopt AI agents, often called “agentic AI,” to work alongside employees to make and execute decisions with precision across procurement and even the most complex global supply chains. Unlike LLM-based generative AI tools such as ChatGPT, these AI agents do not require prompts from humans.

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FedEx Freight to close 29 locations, enact more furloughs

Supply Chain Dive

The less-than-truckload unit has been cutting costs and streamlining its network as demand continues to decline.

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Contract Auditing — Everything You Should Know

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Contract Auditing — Everything You Should Know Contract auditing allows parties to know their obligations and follow them thoroughly. However, what is it? In this article, we will discuss what contract audit means. We will tell you the purpose and the different types of auditing contracts.

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Driving Sustainability by Minimizing Distances Traveled in the Warehouse

Supply Chain Brain

Reducing the distance between products and transportation speeds fulfillment, which in turn helps with sustainability efforts.

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Top 50 Trucking Companies 2023: Is this year normal?

SCMR (Supply Chain Management Review)

As the $830 billion trucking industry prepares for what could be the first full “normal” year since the pandemic caused tidal waves in supply/demand cycles, the “best of the best” are concentrating on strategy, operations and execution. Our trucking correspondent examines what’s ahead for trucking in 2023.

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Freight Procurement Simplified: Bids from Hours to Minutes

Speaker: Eric Berdinis, Ran Sun, & Chris Chmielewski

Procuring freight can be cumbersome, time-consuming, and error-prone. If you’re frustrated with the complex and manual processes for obtaining bids for your contract and spot freight, you’re not alone. In today’s fast-moving supply chain environment, optimizing these processes is critical to staying competitive and cutting costs. Join this exclusive webinar with experts from Uber Freight to learn how the latest digital tools and automation can transform your freight procurement strategy by strea

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Bed Bath & Beyond owes over $95M to these 14 vendors in its supply chain

Supply Chain Dive

The bankrupt retailer has big trade debts to numerous suppliers as well as transportation and other service providers.

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Sustainable Contracts — Embracing Sustainability in Procurement

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Sustainable Contracts — Embracing Sustainability in Procurement Sustainable contracts allow companies to oblige their suppliers to practice sustainable and ethical practices once they sign them. However, what is it? In this article, we will discuss what sustainable contracts are.

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Why the Supply Chain Is the New Customer Experience

Supply Chain Brain

The modern-day supply chain isn’t just about delivering product, but doing so in an efficient and sustainable way.

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Will We See You at CLOC 2023?

ContractSafe

We’re headed to Vegas! We’re excited to attend #CLOC2023 this year! It’s our first time attending, but we’re ready to make a splash. Stop by Booth #248 to put ContractSafe to the test. To show you just how quick and easy ContractSafe is, we made it a race. Go head-to-head with your colleagues; the first to complete the Contract Management tasks in our demo account wins!

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Load Optimization: A Sustainable Way To Reduce Transportation Costs

Discover strategies to optimize load building and achieve significant transportation cost savings. Plus, learn how load optimization can help reduce CO 2 emissions and align with climate regulations and consumer expectations. Finally, discover best practices for sustainable load optimization.

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Target has tracked down nearly all of its palm oil supply

Supply Chain Dive

The retailer had visibility down to the mill level of 96% of its supply last year as it looks to make its products more sustainable.

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[Pod] Procurement 6 – May 5th, 2023

Art of Procurement

Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday. The post [Pod] Procurement 6 – May 5th, 2023 appeared first on Art of Procurement.

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A Big Rethink: Reimagining and Reshaping Supply Chain Planning

Supply Chain Brain

Key to any digitalization effort is connecting all data, decisions, and operations and enabling the community of internal and external users and partners to make better and faster supply chain decisions.

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Retail Info Systems: The Real Reason Supply Chain Leaders Stay Worried About Empty Retail Shelves

Arkestro

The post Retail Info Systems: The Real Reason Supply Chain Leaders Stay Worried About Empty Retail Shelves appeared first on Arkestro.

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How To Align Product Management And Supply Chain Operations For Successful Product Launches

Speaker: Shalini Dinesh

Effective cross-functional collaboration and communication heavily influence product launch success. Research shows that as many as 70% of product launches fail due to inadequate coordination among stakeholders, including supply chain, product management, legal, marketing, and change control teams (Gartner, 2022). The 2023 Supply Chain Insights Report highlights that 60% of supply chain disruptions are caused by poor communication and misalignment among cross-functional teams.

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Manufacturing industry performance holds largely stable in April

Supply Chain Dive

S&P Global's PMI index registered growth for the first time since October 2022, but economists remain uncertain about the future.

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Don’t pause AI development, prioritize ethics instead

IBM Supply Chain Blog

The introduction of generative AI systems into the public domain exposed people all over the world to new technological possibilities, implications, and even consequences many had yet to consider. Thanks to systems like ChatGPT, just about anyone can now use advanced AI models that are not only capable of detecting patterns, honing data, and making recommendations as earlier versions of AI would, but also moving beyond that to create new content, develop original chat responses, and more.

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Four Tips for Complying with the Uyghur Forced Labor Prevention Act

Supply Chain Brain

Deeply embedded in the production and movement of goods around the world, forced labor is notoriously difficult to spot, much less eradicate.

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How to Manage Risk Using a Group Purchasing Organization

Una

How to Manage Risk Using a Group Purchasing Organization A play-by-play for mitigating risk within your procurement function and the wider organization by utilizing the power of group purchasing. DOWNLOAD PLAYBOOK Manage Risk Using a Group Purchasing Organization Procurement and supply chains carry risk for an organization, ranging from spiraling costs to reputational, operational, and compliance risks.

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How Hellenic Bank Transformed Its Indirect Procurement Operations With GEP Software

Financial institutions must navigate a complex web of policies, procedures and regulations to ensure compliance and manage risk. When Hellenic Bank, a leading retail lender in Cyprus, set out to transform its procurement operations, it needed more than just software deployment. It required a partner that would help embed its intricate buying processes — with all its validations, risk assessments and tiered approvals — into a unified system.