Strategic sourcing is all about generating a return on investment for every sourcing initiative. However, different sourcing scenarios require different investments — in terms of time, effort and resources. Therefore, it’s important to approach each situation differently to produce the best results.
Here are four common sourcing scenarios, along with proven advice you can use to ensure an optimal return.Read More »
Small- and medium-sized businesses (SMBs) are an essential and valuable part of the supply chain, offering levels of flexibility, cost competitiveness and responsiveness that some larger suppliers often can't match. SMBs are typically more flexible and responsive than their larger counterparts, and they allow you to take advantage of the benefits of local sourcing.
However, while procurement teams want to engage SMBs, the feeling isn't always mutual. That's because larger buying organizations make it onerous for these smaller companies to participate in the bidding process. As a result, SMBs believe it takes too much time, effort and guesswork to respond to large buyers, all for a very slim chance of winning business.Read More »
The shopping frenzy known as Black Friday is almost here. While you will probably see lots of stories about long lines and huge crowds tussling over the latest toys and electronics, there is another story taking place behind the scenes — one of careful planning, lots of moving parts, and plenty of risks. It’s a story of logistics.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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The manufacturing and supply-chain industry has been going through a transformation, with concepts like IoT, additive manufacturing, and e-commerce quickly advancing the industry. With these new technologies come new skills that manufacturers and supply chain professionals need to learn.
Fortunately, many manufacturers and supply chain professionals can refresh their skill set from the convenience of their own homes with online courses. Whatever your career goals are, there are online course options to help you along your career path.Read More »
Whether you're in need of new blood in your supply chain or trying to build up your list of diversity suppliers, Thomas can help save you time and hassle in sourcing exactly what you need. Thomasnet.com offers detailed information on North American companies in over 70,000 categories of products and services, not to mention our CAD file library, whitepapers, and guides. In this article we're here to show you how to make the most of Thomasnet.com's features by covering the basics of finding and sourcing from the 6,300+ veteran-owned companies on our platform.Read More »
Deciding what you want to do with your life can be overwhelming, especially when that decision is made early in your career. In fact, an astounding majority of people don’t find their calling right away and trends are showing people are no longer working for one company their whole career — the average person changes jobs an average of 12 times during his or her career.
But making that switch can be daunting and confusing. There are so many options, and the wrong move can set you back in your career and in your finances.
However, switching to supply chain can be a great option. The field is broad enough to be a fit for people with a variety of technical and soft skills. It's also a growing industry, with millions of new employees being added to the workforce.
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Your supply chain is delicate. If just one link in the chain is disrupted, it can have a significant impact on multiple aspects of your business. So what steps can you take to maintain business continuity and minimize the impact of unforeseen disruptions?
While there's no single answer to truly prevent supplier disruption, the key is is to not be caught by surprise and minimize its impact. Strengthen your logistics operations and be prepared with these ways.Read More »
One of the most exciting things about working in manufacturing is the fast-paced nature of the industry. However, the constant change and continuous innovation can also create a challenge — keeping up with everything.
As a supplier, you need to know what trends are driving demand for your products and services, and which ones are shaping not only your business, but the supply chain overall. Fortunately, there are some tools available that can help.