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.
Drawing from a recent State of Flux report, Messinger suggests that organizations are missing out on a valuable opportunity to emphasize risk mitigation in their Supplier Relationship Management programs. The report reads, "Having a management model in place to ensure compliance with minimum standards is not the same as risk management." Messinger suggests that training and technology will hopefully enable organizations to evolve their risk management efforts. Only a slim 7% or organizations, he writes, are completely satisfied with their current solutions.
"Just about every vendor," Lamoureux writes, "is claiming they have AI, even if all they have is RPA." Procurement's favorite buzz acronym is still only partially understood by many professionals. This is perhaps why so many are bamboozled by providers. Lamoureux attempts to clear up some confusion by walking readers up the ladder of available solution. Most of what passes for AI, he suggests, is really a semi-intelligent mix of RPA and Machine Learning. Cognitive AI, however, does not yet exist. For now, this final wrung is still purely theoretical.
The Forest for the Trees: Understanding Sustainable Forestry
Kristen Manganello, ThomasNet, 11/16/2018
Though they're important to the health and continued existence of our planet, trees are constantly under attack. Both legal and illegal deforestation pose a threat to the global ecosystem and build the need for sustainable forestry practices. Manganello a number of supply chain best practices that could potentially make a positive impact. For example ,she encouraged readers to engage directly with suppliers to ensure all timber is ethically sourced and identifying opportunities to use alrernate materials like composites or recycled wood.