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Procurement

Getting To Know The Future Of Supply Chain

The fact is that the procurement and supply chain profession is in the midst of a revolution, getting more global, analytical, and tech-savvy than ever before. It’s also getting younger — 40% of the buyers on the Thomas Network at Thomasnet.com are between the ages of 18 and 34.

This emerging generation of professionals aren’t just up-and-comers — they’ve arrived. Many are in leadership positions, heading up initiatives and driving discussions on the other side of your negotiating table. Knowing what makes them tick can help you forge better relationships with these important players in the supply chain.

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Procurement

Managing Total Cost Of Ownership In The Electrical Supplies Category

Although each category of purchasing that falls under Maintenance, Repair, and Operations (MRO) poses its own unique challenges, electrical supplies stands out as one that appears to be tactical. However, it does grant the opportunity for significant cost savings and value enhancement when viewed from a strategic perspective.

The “Electrical Supplies” umbrella covers a broad area of products, and depending on the needs of a particular organization, the level of complexity may vary particularly with wires and cables, automation supplies, lighting, and electrical distribution equipment. From a category perspective, there are opportunities to reduce costs when determining the preferred supplier base.

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Procurement

Forklift Sourcing 101: Know Your Options, Save Money

Though they serve as critical elements in many material handling operations, forklifts can come with many potential hidden costs, such as maintenance and operator salary — in total, costs can reach as high as $250,000 annually per machine!

Despite these expenditures, more and more companies are making use of forklifts; a recent Peerless Research Group survey of material handling managers found that 69% of respondents planned to acquire a new forklift in the near future, with a per-respondent average of seven planned purchases, up from six the year prior.

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Tail Spend
Procurement

Driving Compliance And Cleaning Up Your Tail

Tail spend optimization can be the key to reducing costs and increasing the overall performance of your supply chain. However, many organizations fail to properly analyze their tail spend, or they don't take the proper measures to clean it up and ensure compliance. 

Fortunately, there are some proven methods you can use to clean up your tail.

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Procurement

Creating A Supply Chain Shortlist: What B2B Buyers Look For When Selecting Suppliers

Creating a shortlist is an essential component of the supplier discovery and selection process. But what, exactly, are supply chain professionals looking for when making their lists?

To find out, Thomasnet.com conducted an informal survey of our users – buyers, engineers and procurement professionals – to find out what factors they consider the most important when evaluating new suppliers.

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