The Challenge Is Not One of Vision, But of Execution Executive leadership understands and awaits the substantial savings promised from internal change initiatives to control and manage indirect spend, but most continue to wait. Why? Although those primarily responsible chief procurement officers recognize the proverbial pearl in the oyster of procurement, they have […]
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Procurement technologies have progressed considerably. In fact, given advances in the scope and sophistication of corporate procurement teams, it would be difficult to find any company whose procurement operations could not derive new value from the use of modern purchasing or sourcing tools. However, if procurement technology has gained significant ground in the last few years, then what should companies expect in the next few? This paper looks at four of the most promising trends in procurement technology.
Retail inventory management is what many automotive manufacturers call their attempt at vendor-managed inventory. As with all inventory-dependent industries, wrestling with inventories and balances is a huge battle with every original equipment manufacturer building and supporting multiple vehicle models, each with thousands of individual parts. Many automotive manufacturers have tried to control their dealers replacement […]
In their pursuit of high performance, one of the most powerful and least leveraged tools that companies have is price. The reason is simple: price increases usually reach the bottom line in one piece, while the advantages of lower unit costs or higher sales are diluted. Thus, for a company with 10 percent […]
Procurement Out, Value In Financial services companies face an unrelenting challenge to lower their cost base and streamline operations to keep pace in todays competitive and unforgiving world markets. With margins shrinking and customers wary, senior executives must focus all their energies on what can lift their businesses above the pack and deliver shareholder value, […]
Increasingly unique and unpredictable customer demands for innovation, speed, quality and service compel supply chain participants to rapidly adopt new e-business practices. These practices allow companies to lower costs, increase velocity and drive new business, enabling them to survive and thrive in an increasingly competitive environment. Creating a supply chain that fosters collaboration and offers […]
Interview: Oracle senior vice president Sonny Singh foresees an open-link, high-visibility supply chain network revolution.
ASCET: What are the obstacles to achieving the level of visibility and integration in the supply chain that companies are working to achieve? Sonny Singh (SS): The three that are the most common are standards, technology and culture. Visibility brings a lot of benefits, but it requires standards. Rosetta Net, for example, works to promote […]
RFID technology will be a critical tool for combating drug counterfeiting and improving public safety. The question for pharmaceutical companies is where to start and how best to deploy RFID technology in complex supply chains. This article examines some of the key considerations and opportunities for RFID solutions in the pharmaceutical supply chain. Symptoms of […]
Enable Margin Improvement Initiatives With E-Procurement For a typical company, a 5 percent reduction in purchasing cost can increase the bottom line as much as a 30 percent increase in sales. BuyIT Best Practice Network, Building the Business Case for e-Procurement/ROI AcquireX is the leading provider of application services that allow organizations to easily […]