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.
Andrew Karpie, Spend Matters, 1/3/2019
Though he doesn't go so far as to offer predictions, Karpie points out several areas that practitioners "would be advised to keep their eyes on." For example, he expects Independent Contract Workers and Services Micro-Providers to repeatedly find themselves in the conversation. This year could see organizations begin to formalize their processes for leveraging these resources. He also anticipates continual developments to the digital network of services providers in Procurement.
Source One recently published their predictions for the year ahead in Procurement in 2019. Among the trending topics they discuss is the troubling lack of visibility within today's organizations. Though poor visibility leave businesses open to disruption and lets inefficiency run rampant, a shocking number of organizations cannot see past their tier-1 suppliers. In this blog, ThomasNet's team examines some of the reasons an organization might experience this issue. When reporting methods fail to evolve alongside tools, for example, they leave organizations without the insights they need to reach peak performance.
Ad Hoc Working Capital and Diversification of Liquidity
David Gustin, Spend Matters, 1/3/2018
Nearly every organization, Gustin writes, possesses some form of permanent capital to fund their ongoing operations. Even small organizations typically operate a line of credit or an overdraft facility. Recently new options for ad hoc working capital have begun to emerge. Organizations have a number of opportunities to supplement their permanent capital. New options for early payment make it possible liquidity either at regular intervals or on an as-needed basis. What was once a Hobson's choice - one with just an illusion of variety - is now a world of possibility.