Here's a look at where Source One's cost reduction experts have been featured this week!
MRO Demystified: Repairing the Traditional Approaches to MRO Spend Management
Among the broadest and most essential spend categories, MRO presents a number of challenges for Procurement professionals. Organizations understand the category's importance. From the shop floor to the executive suite, no one would dispute that Procurement's relationship with MRO suppliers can make or break a company. Typical approaches to the category, however, are rarely effective in securing maximum value and efficiency. Many companies address MRO spend in ways that only exacerbate its complications. Source One's new whitepaper series exposes the flaws in these popular methodologies and offers guidelines for effectively managing MRO spend. Download it today.
New Blogs: Procurement & Cybersecurity: Best Practices to Safeguard Your Organization
Jaisheela Setty, My Purchasing Center, 8/28/2018
Cyber-attacks are constantly making headlines. Organizations ranging from Target to the United States government have learned the hard way that robust cybersecurity systems are no longer optional. Most organizations recognize that cybersecurity is an increasingly important spend area, but too few have enabled their Procurement team to accept its rightful risk management role. Setty suggests that closer partnerships between IT and Procurement could help organizations develop the proactive and strategic approach to cybersecurity that today's high-risk world demands.
5 Signs Your Analytics Process is Killing Your Procurement Workflow
Ari Markowitz, ThomasNet, 8/30/2018
Strategic Sourcing initiatives aren't carried out in a vacuum. Accurate, accessible data is essential to the long-term success of any organization. The process of collecting, organizing, and cleansing data is often a time-consuming one. Unfortunately, a number of common pain points compound this issue for many organizations. For example, organizations who've taken an inconsistent approach to vendor nomenclature will have their work cut out for them. Poor alignment across Procurement, too, can create extra roadblocks and hamper Procurement's savings initiatives.