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.
ThomasNet’s recent survey of Procurement professionals found that 72% prefer to source from local suppliers. Additionally, nearly half of the respondents said they “rarely or never” prefer moving their supply chain overseas. Smith examines the benefits of local Procurement and finds that increased flexibility and transparency are especially crucial. Close proximity to vendors allows Procurement groups to consistently assess supplier performance. What’s more, a consolidated, local supply base makes it easier to implement sudden changes to you Procurement operations. Smith also suggests that a localized Procurement strategy might offer appealing environmental benefits. With reduced shipping and storage spend, companies will find it easier to meet both cost reduction sustainability goals.
Michael Lamoureux AKA The Sourcing Doctor, Sourcing Innovation, 12/14/2017 The Doctor displays his trademarked skepticism in this discussion of another would-be Procurement trend. Cognitive Procurement has recently emerged as a hot topic in Procurement conversations. The Doctor suggests, however, that only the true Procurement leaders can realistically expect to implement cognitive solutions in the new year. A troublingly high percentage of Procurement groups have yet to enter the modern era. According to a recent Spend Matters survey, only 13% communicate with their supply base regularly. Before the other 87% can begin to consider cognitive solutions, they've got to achieve a workable level of market intelligence as well as spend and supplier visibility. A Primer on the Contingent Workforce and Services (CW/S) Procurement Technology Landscape
Sydney Lazarus, Spend Matters, 12/13/2017
After several stagnant decades, the marketplace for CW/S procurement technology and service solutions is expanding rapidly. Lazarus provides working definitions for the key categories Procurement groups should consider: Contingent Workforce Management Technology, SOW/Services Management Technology, Digital Platforms Providing Workers or Services, and Outsourced Services Solutions. No two Procurement departments need the same things from their contingent workforces. As blended Procurement teams become more popular, however, it's essential that companies consider the benefit of each of these categories to locate the appropriate CW/S solution.