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.
Sydney Lazarus, Spend Matters, 6/5/2018
Examining a recent survey from Eft, Lazarus describes a wide gulf in AI adoption across Retail and Manufacturing supply chains. While over a third of respondents report experimental applications of this technology, a full 46% report no usage at all. A minuscule 4% of organizations reported extensive usage, Statistics for warehouse robotics are similar. In both cases, the survey presents issues related to costs and ROI calculations as the primary roadblocks for implementation. Talent, or a lack of it, is also standing in the way for many surveyed companies. Around a third of companies are without a dedicated team for exploring innovation.
Make Sure Your Perishables Don't Perish Michael Lamoureux, Sourcing Innovation, 6/6/2018 As Hurricane Season approaches once again, Supply Management professionals are looking to take a proactive approach to avoiding disruptions and lost product. Focusing on food supply chains, the Sourcing Doctor offers his tips for minimizing waste and keeping crops safe. If your organization processes perishables, for example, Lamoureux recommends doing so as close to the source as possible. This might mean investing in new manufacturing plants, but it'll almost certainly lower shipping costs and help mitigate the risk of spoilage. North Americans waste almost 40% of their food. With these tips in mind, Lamoureux hopes Supply Management can take the lead in rectifying this troubling fact.
Contract Management: How Technology Helps Procurement Ensure Compliance, Boost Efficiency, & Minimize Risk
Timothy Donaghy, My Purchasing Center, 6/8/2018
Though digitization is rapidly changing Procurement, many organizations are still lagging when it comes to contract management. Many businesses still contend with overstuffed manila envelopes and static spreadsheets. Donaghy outlines the considerable benefit of a more advanced solution. Avoiding missed deadlines is just the beginning. Donaghy goes on to suggest that a central repository for contracts will also make it easier to anticipate and plan for the impact of regulatory changes. With GDPR now in effect, this feature of contract management solutions could prove especially important. "Procurement is an art," he concludes, "contact management platforms can empower Procurement professionals with some added 'science.'"