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Supply Chain

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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Supply Chain

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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Get Ahead of Cost Reduction in Product Design Through Raw Material and Process Selections
Supply Chain

Reduce Costs in Product Design Through Raw Materials

It is often later in the product lifecycle that procurement teams are brought in to lead a competitive bid process and conduct negotiations accordingly. This might seem like a straightforward approach to reducing costs. However, taking a deeper look at your product design and raw materials before the manufacturing phase could be the best way to proactively optimize costs.

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Procurement

The THOMASNET.com Team Chats With Manufacturing Talk Radio At ISM2017

ISM2017, The Institute For Supply Management (ISM) annual conference, just wrapped up in Orlando, Florida. The THOMASNET.com team was there, uncovering the latest trends and challenges impacting supply chain professionals every day

In addition to speaking with supply chain professionals, we also spoke with the duo Tim Grady and Lew Weiss of Manufacturing Talk Radio for a series of interviews. Listen to the podcasts below. 

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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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