ICYMIM: October 8, 2018

ICYMIM: October 8, 2018

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.

Politics Volatile, Uncertainty Is the New Certainty for Procurement, 

Naseem Malik, Spend Matters, 10/5/18

Though some of the recent changes in the United States’ economy have been promising for procurement professionals, the uncertainty polluting the air of U.S trade policies is beginning to choke industry minds. Should companies source off-shore or on-shore? Will the Trump Administration double down on its anti-Chinese trade policies or fall back in favor of establishing a status-quo? Will the same administration make these decisions the next 2 years or 6? Among the confusion, Naseem Malik writes that best solution lies in effective management of both people and technology. Blockchain and predictive tools may be more useful than ever.

Rise of 4PL for Supply Chain Management,

Kristin Manganello, Thomasnet, 10/5/18

The increasing importance of the global marketplace manufactures never before seen challenges for Procurement teams not fully equipped to handle large, logistically difficult supply chains. This is where turning to a 3PL has evolved to instead going to a 4PL. 4PL’s view procurement more holistically and offer more flexibility than there predecessor, which can be the key to tackling issues with global supply chain and multiple off-shore suppliers.

Keyto Supply Chain Innovation? Early Adopters of Technology Do Well,Study Says,
Spend Matters Team, Spendmatters, 10/8/18

Technological advancements are made nowadays at an exponentially accelerating rate. The company that truly cares about its bottom line is the hesitant, cautious one, is it not? It would appear here that having a mentality of reducing spend when adopting Procurement technologies can do more harm than good. Smart early adopters that care more about efficiency than cost reduction often find themselves better off than their more reluctant counterparts at the end of the fiscal year.