Thomas Publishing CEO Tony Uphoff Talks Supply Chain Risk, Trends And Tools With Procurement Insights
It’s no secret that managing supply chain risk is paramount to procurement and supply chain professionals. In fact, our survey of more than 1,000 buyers and suppliers revealed that 84% of buyers in decision-making roles assess a supplier’s financial stability before contacting potential supplier partners.Read More »
In today’s increasingly dynamic and ever-changing market, organizational change isn’t only to be expected; it’s essential. However, change isn’t always easy, and it’s important to understand how different employees will respond in order to implement and manage change effectively.
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Strategic sourcing is all about generating a return on investment for every sourcing initiative. However, different sourcing scenarios require different levels of investment — in terms of time, effort and resources. Therefore, it’s important to approach each situation differently as well in order to produce the best results.Read More »
It takes a lot of skill to become a successful CPO. Not only do procurement leaders need to understand how globalization affects their department, they also need to stay up to date on emerging procurement technologies and evolving business standards. But what makes the difference between an average CPO and a CPO that goes above and beyond?Read More »
Bringing in a new supplier can be a challenge for any organization. However, adopting a dual sourcing strategy could make the process a lot more efficient and effective.Read More »
Last week, an unprecedented cyberattack crippled many popular websites — including Twitter, Netflix, PayPal and Reddit. While the size and breadth of the attack made lots of headlines, the truth is that similar cyberattacks are waged every single day, and they could pose a risk to your business or your supply chain.
While there is no way to completely mitigate the risk of a cyberattack like the one carried out last week, understanding the nature of the attack and taking a proactive approach to cybersecurity, can prove helpful — especially as businesses (and even factories) become increasingly connected to, and reliant on, the web.
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Many small- and mid-sized businesses (SMBs) don't have dedicated procurement teams in place. In fact, thanks to limited resources and tight budgets, sourcing responsibilities often fall on the shoulders of one or two individuals — many of whom juggle responsibilities other than procurement. As a result, monitoring existing contracts and sourcing best-in-class agreements can be a tremendous challenge for these SMBs.
So how can SMBs optimize their procurement efforts despite the lack of resources? The key is to be Lean.Read More »
Whether you are looking to place an order, source something new, or just get an update on overall account status, businesses expect their suppliers to address these needs. But what do your suppliers expect from you?Read More »
When it comes to sourcing materials for a manufacturing project, vendor qualification is an important consideration that will leave a lasting impact. A precision metal stamping vendor, for example, is very different than a thermoforming vendor. To hone in on the best candidate for procurement, utilize custom, concise questionnaires specific to each vendor’s particular service area.
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