The Thomas Blog

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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Risk Management

Infographic: The Disconnect Over Financial Risk In The Supply Chain

Mitigating risk is among the most critical priorities for any procurement professional, and one of the ways they do that is by assessing a supplier’s financial and operational stability during the supplier evaluation process.

In fact, THOMASNET.com, in partnership with Dun & Bradstreet, recently conducted a survey of more than 1,000 buyers and suppliers, and we found that 89% of buyers believe that a potential supplier’s financial stability is important when evaluating potential partners.

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Procurement

Do You Have What It Takes To Be A Successful CPO?

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? 

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Finding A Quality Partner
Procurement

12 Sourcing Tips To Connect With Quality Suppliers

When setting out to find a new supplier, you may be tempted to focus on the best price. However, concentrating only on low costs can hurt you in the long term. That's because shaving a few cents off the price of a product is no help if the quality is below standard and the component or material does not arrive when you need it.

So instead of cost, focus on quality by incorporating these 12 tips into your sourcing strategy:

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