ICYMIM: April 3, 2017

Source One's series for keeping up with the most recent highlights in procurement, sourcing, and supply chain news week to week. To stay updated on the latest supply management articles, check in with us every Monday.

The launch of Palambridge made international procurement news as experts and thought leaders from consulting and solution provider firms around the world are participating in this unique platform. The people and firms involved all possess a high-level expertise in the procurement and supply chain industries and are credited for being leaders in their field, including Source One Management Services, LLC. Art of Procurement founder Philip Ideson has partnered with the owner and director of Buyers Meeting Point, Kelly Barner, to create this business model that connects users with firms who offer strategic tools and execution support that assists them in reaching their procurement and supply chain goals.

What Procurement Needs to Know to Improve Your Office Supplies Program in 2017
Sonda Sahley, Corporate United, March 27, 2017

Direct Materials sourcing can often be a main focus of procurement groups, however it is be coming more common for these professionals to recognize savings opportunities for indirect spend categories such as office supplies. As the market for this spend changes, exploring options for best pricing and contract terms for these indirect spend categories can offer substantial savings. While limited time and resources can cause indirect spend categories to be a lower priority, GPOs can provide purchasing power for all of their members and offer savings beyond what procurement groups can achieve on their own.

Procurement Must Distinguish Between the Ambiguity and Volatility of Business Conditions
Kelly Barner, Art of Procurement, March 26, 2017

As the Business Survey Chair for the ISM- New York Report on Business, Barner shares her reasoning for focusing on a six month outlook as procurement professionals are responsible for managing risk. Investors are also interested in managing risk and uncertainty, as they want to quantify and measure the probability of effect for various factors in the markets and global economy. For procurement, being capable of differentiating between volatility and ambiguity can improve results and ensure time and effort are dedicated to categories and suppliers that are uncertain without the distraction of elevated risk that is assumed. 
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