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 news.
A recent study, published in the Proceedings of the National Academy of Sciences, suggests that corporate sustainability reports aren't likely telling the whole story. Researchers from Stanford University assessed the sourcing practices of 449 randomly-selected global companies. Applying supplier codes of conduct proved (by far) the most popular sustainable sourcing practices. Unsurprisingly, consumer-facing companies appear far more likely to implement sustainable practices. The study makes it clear that much opportunity remains for sustainable sourcing practices to truly take hold.
Michael Lamoureux, Sourcing Innovation, 3/1/2018
In his latest two-part series, The Doctor reflects on a guest contribution from one of Source One's experts. Three years ago, they described the oncoming strategic evolution of purchasing and outlined the tools necessary for it to occur. Lamoureux suggests that many organizations only think they've experienced this revolution. Mistaking spend under management for truly managed spend, they're still relying on outdated processes and missing out on savings opportunities. Luckily for them, SpendConsultant's opportunity assessment calculator turns spend under management into managed spend.
Barner once again reflects on the legal disputes currently rocking the chicken industry. Distributors allege that chicken producers manipulated market data to justified increasing their prices. In response, Barney and Jeanette Jones offer their advice for taking a critical look at market data. Both stress the importance of implementing transparency measures. Procurement has to know everything about how their data is governed, where its coming from, and how each party involved could potentially exert control over it.