Procurement leaders face lack of talent to meet future needs: report
Supply Chain Dive
DECEMBER 14, 2023
The profession has growing needs for data and technology as well as general business skills, according to a recent survey by Gartner.
Sat.Dec 09, 2023 - Fri.Dec 15, 2023
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What Does “Getting To We” Really Mean?
Procurement Insights
DECEMBER 13, 2023
EDITOR’S NOTE: Today’s article was inspired by a LinkedIn post by Kate Vitasek. “Value isn’t just about exchange—it’s about creation.” “Through shared goals, you work together, investing in each other’s success and creating value that elevates everyone involved.” – Kate Vitasek The above two statements should resonate far and wide with anyone and everyone, Kate Vitasek , starting with the sales process.
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Your 2024 Procurement Career Tune-Up
Una
DECEMBER 11, 2023
Your 2024 Procurement Career Tune-Up As we leap into the shiny unknown of next year, let’s revamp your professional journey and and explore a procurement career tune-up. By Hugo Britt | December 12, 2023 Search Search As we dust off the remnants of 2023 and leap into the shiny unknown of 2024, it’s time to give your procurement career a tune-up.
How to build a successful procurement strategy
IBM Supply Chain Blog
DECEMBER 13, 2023
The role of procurement extends beyond transactional activities. A procurement strategy allows an organization to navigate an increasingly complex global supply chain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. By assessing and proactively managing risks inherent in the supply chain , organizations can shield themselves from disruptions and strengthen the resilience of their operations.
Load Optimization: A Sustainable Way To Reduce Transportation Costs
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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.
Types of Procurement Reports: Definition & Benefits
SCMDOJO
DECEMBER 11, 2023
In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process. From the Purchase Order (PO) Status Report to the RFQ Performance Report, each report is dissected to provide a clear definition and a deeper understanding of its significance.
Is Technology Ready To Stem The Tide Of Supply Chain Health And Safety Hazards?
All Things Supply Chain
DECEMBER 11, 2023
The US supply chain underwent huge changes as a result of Covid-19 pandemic and it has never fully recovered.
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Purchasing & Procurement Zone brings together the best content for professionals in the purchasing and procurement field from the widest variety of thought leaders.
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Reading FedEx Ground the RICO Act
Art of Procurement
DECEMBER 14, 2023
The Racketeer Influenced and Corrupt Organizations Act, better known as RICO, is usually associated with organized crime. In 1992, it. The post Reading FedEx Ground the RICO Act appeared first on Art of Procurement.
6 reasons why global supply chains are shifting
Supply Chain Dive
DECEMBER 13, 2023
A desire to reduce costs, lead times, political risk and emissions are just some of the reasons behind onshoring, nearshoring and friendshoring decisions.
Rethinking Strategy for a Circular World
SCMR (Supply Chain Management Review)
DECEMBER 11, 2023
Companies at the forefront of the circularity shift have begun identifying and investing in the new structures and processes required to replace linear business models. As these new market dynamics develop, industries will be able to go circular at a faster pace.
Maximizing the Advantages of a Purchase Order Approval Process
ProcurePort
DECEMBER 11, 2023
Understanding the Purchase Order Approval Process At its core, a Purchase Order (PO) Approval Process is a structured workflow that organizations follow to authorize and monitor the procurement of goods and services. It typically involves several stages, including the initiation of a purchase request, creation and submission of a purchase order, and final approval from […] The post Maximizing the Advantages of a Purchase Order Approval Process appeared first on ProcurePort Blog.
Autonomous AI Agents Are the Future of Procurement and Supply Chain Operations
Advertiser: GEP
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.
What is a Sourcing Agency and How does it work?
SCMDOJO
DECEMBER 14, 2023
In the global world of businesses, companies often seek help from sourcing agencies to figure out how to get the things they need. But what’s a sourcing agency or sourcing agent and how does it make buying things easier? Let’s explore this world of sourcing agencies and understand what they do. A sourcing agency is like a helpful guide in the complicated process of getting goods.
As manufacturers turn away from China, Vietnam lures investment
Supply Chain Dive
DECEMBER 14, 2023
The country is home to a growing number of factories thanks to its increased use of free trade agreements, tax incentives and competitive labor costs.
Four Key Predictions for Cybersecurity Vulnerability Teams in 2024
Supply Chain Brain
DECEMBER 14, 2023
Organizations that embrace and invest in vulnerability prioritization and remediation, and utilize an asset-centric approach, will be better positioned to navigate the ever-changing threat landscape.
The advantages and disadvantages of hybrid cloud
IBM Supply Chain Blog
DECEMBER 11, 2023
With the rapid advancements in cloud computing, data management and artificial intelligence (AI) , hybrid cloud plays an integral role in next-generation IT infrastructure. Enterprise-level businesses rely on hybrid cloud solutions to run critical workloads from anywhere by combining and unifying on-premises, private cloud and public cloud environments.
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
Transfer Orders: Simplifying Warehouse Operations in Ecommerce
Finale Inventory
DECEMBER 15, 2023
A transfer order arriving at a warehouse. For those managing ecommerce warehouses, optimizing operations is vital for maintaining customer satisfaction and driving profitability. Finale’s transfer orders stand out as an important tool in this initiative. Let’s explore the role of transfer orders, demonstrating how they can significantly streamline your warehouse processes.
UFCW backs proposed grant program protecting supply chain workers
Supply Chain Dive
DECEMBER 14, 2023
The Grocery, Farm, and Food Worker Stabilization Act would help cover “disaster-related costs” for farm, grocery and meatpacking workers.
The State of Sustainability in Supply Chains
Supply Chain Brain
DECEMBER 14, 2023
In this ever-evolving landscape, embracing ESG practices isn't just about ticking boxes; it's about gearing up for a future where sustainability isn't just a goal, but a game-changer for business success!
The three main types of cryptography
IBM Supply Chain Blog
DECEMBER 13, 2023
Derived from the Greek words for “hidden writing,” cryptography is the science of obscuring transmitted information so that it may only be read by the intended recipient. The applications of cryptography are endless. From the quotidian end-to-end message authentication on WhatsApp to the practical digital signatures on legal forms or even the CPU-draining ciphers used for mining cryptocurrency , cryptography has become an essential aspect of our digital world and a critical cybersecu
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.
Lead Time Definition – How to Calculate & Reduce it?
SCMDOJO
DECEMBER 14, 2023
Time is really important in business. Studies say that 25% of customers won’t buy something unless it can be shipped in two days or less. Knowing how crucial time is for keeping customers happy and influencing what they buy, it’s clear that handling lead time (which means the time it takes to get things ready) is not just needed for business, but it also gives an edge in today’s competitive and complex economy.
Logistics companies race to adapt to shifting supply chains
Supply Chain Dive
DECEMBER 11, 2023
Carriers in ocean, air cargo, rail and trucking are launching new services and tweaking their networks amid evolving global trade flows.
Helping Healthcare Organizations Navigate Shipping in Peak Seasons
Supply Chain Brain
DECEMBER 13, 2023
Throughout the year, healthcare providers are under tremendous pressure to find cost savings and efficiencies, while maintaining optimal patient care. That pressure only increases during the peak season.
Apple Expands India Production
Procurement Bulletin
DECEMBER 10, 2023
Raw Materials Trade Tifts Hit EV Production Again As the world slowly migrates to electrifying vehicles, the fight for the raw materials for producing EV vehicles continues: China, the leading graphite producer, implemented new restrictions on the export of graphite. China’s graphite exports account for a third of the U.S. graphite supply and no doubt the restrictions are just another move to counter the U.S.’s trade restrictions going the other way.
The Ultimate Guide to Transportation and Load Building Optimization
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Enhance your transportation and load building efficiency with our comprehensive guide. Learn to tackle today's supply chain challenges and optimize your approach with advanced planning strategies. This guide covers: Supply Chain Challenges: Discover how transportation planning can address critical issues and improve efficiency. Load Building Benefits: Understand how effective load building can enhance your transportation processes.
Expect Weak Dry Van Truckload Pricing Conditions to Continue into 2024
SCMR (Supply Chain Management Review)
DECEMBER 15, 2023
Given where spot market prices are at and demand for services holding steady, slow attrition of capacity should help stave off further downward pressure on rates, says Michigan State’s Jason Miller.
10 minutes with DOT’s multimodal office head
Supply Chain Dive
DECEMBER 12, 2023
Deputy Assistant Secretary Allison Dane Camden discussed her background, her new office's staffing and the Freight Logistics Optimization Works (FLOW) initiative's progress in an interview.
3 Tips for Successful Logistics Outsourcing
Supply Chain Brain
DECEMBER 14, 2023
In today's dynamic business landscape, organizations are increasingly turning to third-party services (3PLs) to navigate the complexities of supply chain management and gain a competitive edge.
New Year Insights for the procurement solutions and services marketplace 2024: Icertis
Spend Matters
DECEMBER 15, 2023
For several years now, Spend Matters has been collecting and publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and service providers in the market. This year we’re highlighting the customer demands, market movements and advances in procurement tech that are exciting the world of solution providers, how they expect them to shape the S2P landscape next year and how they plan to respond to them.
How Hellenic Bank Transformed Its Indirect Procurement Operations With GEP Software
Advertiser: GEP
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.
A Market-Based Routing Guide Strategy for Truckload Transportation
SCMR (Supply Chain Management Review)
DECEMBER 13, 2023
By applying a strategic procurement framework that considers both a freight lane's macro-market and micro-shipper characteristics, shippers can leverage a wider portfolio of relationships that improve their overall routing guide performance while reducing the required effort.
UPS and FedEx’s tough year in 6 charts
Supply Chain Dive
DECEMBER 13, 2023
Data shows both carriers faced waning package volumes as pricing power shifted in their customers' favor.
From Management to Orchestration
Supply Chain Brain
DECEMBER 12, 2023
Supply chain orchestration entails a higher level of digital maturity and connectivity to standardize and integrate internal, partner and third-party contextual data in a real-time, continuous flow.
Techstrong.ai: AI Offers Opportunities to Streamline, Optimize Parts Purchasing
Arkestro
DECEMBER 12, 2023
Artificial intelligence could improve the parts purchasing process, making it quicker and more efficient for suppliers for many industries—from automakers to chemical companies, who are still grappling with supply chain shortages. AI can improve parts purchasing in several ways.
The Evolution of Control Towers to Command Centers
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Are fragmented control towers hindering your supply chain’s growth and response time? Attempting to manage disruptions through various departmental control towers with basic analytic overlays hinders agility and, ultimately, your resiliency. Today’s volatile landscape requires inherent visibility across your entire value chain and the ability to orchestrate course corrections within a unified platform.
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