Manufacturers across industries are feeling the fragility of their supply chains and time isn’t on their side when it comes to making adjustments. Luckily, newer “smart” supplier search software is proving to be a powerful tool to shorten sourcing timelines.
Procurement departments should clearly define a mutually agreed upon approach to calculating cost avoidance with other departments such as finance and corporate leadership to fully realize its value.
A good scorecard should be easy to maintain, engaging to suppliers while giving them a voice, and rewarding to good performers based on objective data collection. Here are three tips we recommend to improve yours.
Indirect spend items provide a massive opportunity for an organization to reduce costs. Use these three strategies to eliminate waste using minimal resources.
Companies target low-volume programs to provide more of the mass customization consumers demand. Use these six tips to take down common low-volume sourcing challenges.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.