January 12, 2018
Here's a look at where Source One's cost reduction experts have been featured this week!
What's Next for Procurement: 8 Trends to Watch in 2018
2017 was another surprising year for Procurement and Strategic Sourcing professionals. All around the world, disruptions like natural disasters, political upheaval, and new technologies wreaked havoc on supply chains. Nevertheless, 2017 saw a number of Procurement trends continue as expected. Leading companies are still transforming their Procurement teams and embracing the benefit of more strategic purchasing. In what's becoming an annual tradition, the supply management experts at Source One have published their predictions for the year ahead. Whatever shocks and surprises 2018 has in store, stay on the look out for these industry developments.
The True Cost of Non-Compliance
Jonathan Groda, Buyer's Meeting Point, 1/10/2018
Countless Procurement groups fail to achieve their projected savings numbers because of noncompliance. Whether business-wide or site-specific noncompliance undercuts Procurement's cost reduction efforts and introduces inefficiencies the supply chain. An especially dangerous and common form of noncompliance is the passive variety. When sites engage in transition and implementation efforts without the necessary level of commitment they present an especially challenging situation. Their noncompliance can prove difficult to detect. As a result, companies dealing with passive noncompliance often discover lost savings after the damage is done. Groda suggests consistent communication and regular monitoring as preventative measures. It's of particular importance that Procurement teams continue to drive sourcing engagements well after contracts are signed to ensure compliance and savings.
SD-WAN, Cybersecurity and More: Telecom Trends to Watch in 2018
Source One Director - and Telecom Procurement expert - David Pastore joins the Source One Podcast to discuss the category's emerging trends. 2017, Pastore suggests, was an uncharacteristic year for technological implementation in the space. Though Telecom and IT solutions typically take time to catch on, 2017 saw companies of all sizes move at breakneck speed to implement software-defined networking technologies, managed cybersecurity systems, and cloud-connected services. The trend shows no signs of stopping. Expect these technologies to continue gaining momentum throughout the coming year.