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.
We hear all the time that the economy is booming. It should come as no surprise, Berezowsky suggests, that the growing independent workforce includes a number of 'high-earners.' She suggests, however, that the sheer number of these individuals is quite surprising. According to a recent report from MBO Partners, the number of independent workers earning over $100,000 annually has increased by 70% since 2011. Notably, this figure only includes full-time freelancers. Among the factors driving this trend are the strong economy and a "self-fulfilling snowball" effect. The increased earnings of independent workers is encouraging more individuals to enter the freelance workforce. Organizations, for their part, are increasingly comfortable leveraging workers from this high-skill sector. All in all, the study suggests that the growing external workforce is here to stay.
The majority of Procurement platforms are stuck in the function's tactical past. Worst still, The Sourcing Doctor suggests they aren't even making old school processes any easier. They offer, he says, in the way of Artificial Intelligence and leave Procurement spending hours on tasks that ought to take minutes. For example, it might take three hours to construct a comprehensive project overview for your organization. An advanced platform, however, will automatically track relevant metrics, recognize issues as they arise, and tie performance metrics directly to savings. All you'd need to edit is an executive summary to provide additional context.
A Match Made in Supply Chain Heaven: How to Increase Supplier Engagement
Kristen Manganello, ThomasNet, 10/22/2018
Disruption and unpredictability is nothing new, but cybersecurity threats, natural disasters, and global political unrest have undoubtedly made things trickier in recent years. Unanticipated risk factors aren't the only concern. Far too many organizations still lack insight into their supply chains and supplier relationships. Developing a more strategic approach to engaging supply chain partners, Manganello suggests, is key to rectifying this situation. The process requires both soul-searching and external research. Organizations need to develop their understanding of internal goals while striving to understand their suppliers' unique goals and objectives.