ICYMIM: September 10, 2018
Source One's series for keeping up with the most recent highlights in procurement, strategic sourcing, and supply chain news week-to-week. Check in with us every Monday to stay up to date with the latest supply management news.
Michael Lamoureux, Sourcing Innovation, 9/6/2018
In the second half of the 20th century, investments in highway development helped trucks supplant trains in America's supply chains. Trains, however, remain by far the most cost-effective way to move cargo over long distances. The Doctor makes an impassioned argument for the continued value of shipping by rail. Trains, he suggests, offer fuel efficiency and predictability that ground and air travel cannot equal. Emerging economies in the East already recognize this. Laos alone, he writes, has committed to investing over six billion dollars in the Kunming-Singapore railway.
Eliminate Friction in Spot Buying With Digital Payment Programs
Conor McGlade, ThomasNet, 9/5/2018
Spot buying, while often unavoidable, presents considerable challenges for just about every Procurement team. In fact, McGlade writes it can often account for as much as 42% of an organization's indirect spend. The situation leads organizations to make purchases without locking in advantageous contracts and forces them to break from established Procurement best practices. McGlade uses Texas Instrument's recent partnership with Apruve as a case study in effectively answering the spot purchasing question. Their new tool streamlines the credit assessment and approval process to provide for an entirely paperless, on-demand purchasing process. He suggests that organizations in any industry can learn from Texas Instruments' approach.
2020 is Fast Approaching - What Have You Accomplished? Part 1
Michael Lamoureux, Sourcing Innovation, 9/10/2018
Lamoureux opens by reminding readers that the Big 4 of Procurement consulting predicted big changes for their industry by 2020. He suggests the predictions might have been a little premature. Not only does the Procurement function look a lot like it did back in 2015, sourcing platforms haven't changed much either. He takes a closer look at the eight major S2P platforms currently available. These run the gamut from "the best platform most of you haven't heard of" to far less inspiring options. In general, however, even the most impressive of these platforms offer little that previous iterations did not.
Spot buying, while often unavoidable, presents considerable challenges for just about every Procurement team. In fact, McGlade writes it can often account for as much as 42% of an organization's indirect spend. The situation leads organizations to make purchases without locking in advantageous contracts and forces them to break from established Procurement best practices. McGlade uses Texas Instrument's recent partnership with Apruve as a case study in effectively answering the spot purchasing question. Their new tool streamlines the credit assessment and approval process to provide for an entirely paperless, on-demand purchasing process. He suggests that organizations in any industry can learn from Texas Instruments' approach.
2020 is Fast Approaching - What Have You Accomplished? Part 1
Michael Lamoureux, Sourcing Innovation, 9/10/2018
Lamoureux opens by reminding readers that the Big 4 of Procurement consulting predicted big changes for their industry by 2020. He suggests the predictions might have been a little premature. Not only does the Procurement function look a lot like it did back in 2015, sourcing platforms haven't changed much either. He takes a closer look at the eight major S2P platforms currently available. These run the gamut from "the best platform most of you haven't heard of" to far less inspiring options. In general, however, even the most impressive of these platforms offer little that previous iterations did not.
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