FIRST, FIND YOUR SUPPLY CHAIN COST DRIVERS Transportation, procurement expenses, quality, and inventory are all known supply chain costs that are usually addressed head-on. Nevertheless, hidden expenses that are amassed within these areas, on the other hand, can be severe. Even more difficult, because the supply chain is so intertwined, resolving one problem can have..
Businesses sourcing personal protective equipment (PPE) encounter several danger zones as unprincipled players exploit the unparalleled demand. Since the surge of the COVID-19 pandemic from 2019 till date, the international health care communities have been swamped with possibly contagious patients who need testing and care. To curtail the spread of disease from patients to health..
What are strategic procurement and global sourcing strategies? A procurement strategy is a continuing plan to economically obtain the required supplies from a list of competent vendors who will distribute quality goods on time while adhering to the procurement terms. This strategy focuses on components such as cost reduction, global sourcing, risk management, green purchasing,..
The Future of Innovation in Procurement envisages tomorrow’s procurement functions, trends in procurement technology, as well as how this will impact organizations opportunities. Given the swift advancements in digital technologies, business supply chains are undergoing some disruptions, which are perched to change how the procurement function provides value. Nevertheless, the question regarding what the future..