ICYMIM: August 21, 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.
Where Macroeconomics Collides with Microeconomics (Multi-lateral Trade Agreements Part 1 of 2)
Kelly Barner, Art of Procurement, 8/16/2017
Part one of this two-part post discusses how trade agreements are crucial factors in many global supply chains because of the macroeconomic basis they provide for private sector agreements. By outlining restrictions for foreign-based companies or companies who have headquarters in different nations, these agreements are often seen as costly due to tariffs and similar fees. Barner offers two recent examples of trade agreements that are causing delays for industries and specific businesses, including China and America's differences over steel and aluminum.
How Should Procurement Customer Service Be Measured?
Charles Dominick, SPSM, SPSM2, SPSM3, 8/15/2017
In this edition of PurchTips, Dominick offers topics and sample questions for measuring internal customer satisfaction that can be crucial for demonstrating the effectiveness of a procurement organization. These examples are supportive in identifying what factors should be measured and what other information can be used to capture how valuable procurement's contributions are throughout the organization. This feedback is important when making improvements to procurement performance and managing this group of professionals.
Why You Need To Expand Your Business To New Markets
Christina O'Handley, Tom's Blog, 8/17/2017
Suppliers and buyers alike should never allow their business to be too dependent on one customer or manufacturer. While buyers are seeking to diversify their supply base, it's important for suppliers and manufacturers to explore new markets and expand their offerings that can increase their customer base to introduce new customers and new opportunities for revenue. Your company can gain a competitive advantage through diversifying that will allow room for growth through new products, new connections, and new industries.