January 5, 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 yet another highly unpredictable year for supply chain professionals. Across the globe, disruptions like natural disasters, UN sanctions, and emerging technologies contributed to a turbulent twelve months. Still, this year saw a number of trends continue as predicted. Companies are continuing to transform their Procurement operations and embrace the benefit of more strategic supply management practices. In what's become an annual tradition, the experts at Source One have published their predictions for the year ahead. Whatever surprises 2018 has in store, keep an eye out for these supply chain developments.
Relationship Building: How to be More than a Necessary Evil
Nick Harasymczuk, MRA Global Sourcing, 12/28/2017
Developing and maintaining relationships is an essential component at every stage of the sourcing process. Collaboration with suppliers and colleagues alike depends on active listening and mutual respect. Harasymczuk suggests that the process of optimizing professional relationships is a constant one. Clearly communicating expectations and providing feedback is always helpful for ensuring service levels are met and sourcing initiatives are conducted successfully.
Striking a Balance: Centralized vs. Decentralized Procurement
Jennifer Engel, My Purchasing Center, 1/3/2018
The effectiveness of purchasing and sourcing initiatives is often dependent on a Procurement department's structure. Engel compares the relative benefits of centralized Procurement with those of a segmented function spread across multiple sites. Centralized purchasing, Engel suggests, provides the benefit of easy standardization. Best practices are quickly communicated and uniform purchasing practices are easily implemented. One disadvantage, however, is the lack of visibility into local markets. Certain services like landscaping or snow removal are best sourced at this level. Engel presents a center-led Procurement unit as the ideal blend of both models. A centralized team can dictate sourcing policies while delegating tactical purchases to localized units.
Optimizing Facilities Management Spend
Over the last few weeks, cost reduction specialists Nick Harasymczuk and Jennifer Ulrich have joined the Source One podcast to discuss sourcing in the complex Facilities Management spend category. From data collection to implementation, the category presents a number of distinct challenges for Procurement groups. This week's conclusion focuses on the solutions available to organizations. Nick and Jen outline the various software options and also discuss the benefits of third-party Procurement consultants. Check out all three parts of the conversation, and stay tuned for weekly episodes of the Source One Podcast throughout 2018.