ICYMIM: October 30, 2017
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 articles.
Michael Lamoureaux AKA The Sourcing Doctor, Spend Matters, 10/24/2017
The Doctor points to the recent Kobe Steel Scandal to address the importance of consistent quality checks. This is an area, he suggests, where thoughtless cost cutting can lead to especially disastrous situations. Third-party audits and quality testing are absolutely necessary for procurement groups that want to maintain high standards and preserve organizational integrity.
The Doctor points to the recent Kobe Steel Scandal to address the importance of consistent quality checks. This is an area, he suggests, where thoughtless cost cutting can lead to especially disastrous situations. Third-party audits and quality testing are absolutely necessary for procurement groups that want to maintain high standards and preserve organizational integrity.
Sydney Lazarus, Spend Matters, 10/26/2017
Millions of drivers have already made the switch to electric vehicles in hopes of reducing their carbon footprint. A new report from Verisk Maplecroft, however, has exposed social and environmental risk that consumers may not have expected. Production of electric cars depends on a number of raw materials that come from high-risk countries. Cobalt, aluminum, nickel, and other metals come largely from regions with poor labor standards, and the sheer scope of the supply chain makes auditing difficult. As demand for green vehicles continues to rise, risk will rise in turn. Companies will need to work even harder to maintain green, ethical images.
Companies often leverage international expansion to make up for sluggish earnings or oversaturated domestic markets. It's worth noting, however, that expansion can sometimes create risk instead of correcting it. Planning and forecasting are utterly essential to keep expansion initiatives from turning into costly failures. Investing in a diversified workforce and calculating the precise cost of failure are a good start, but solutions will differ for every organization.
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