Monthly Round Up: January 2019
Gain new Supply Management insights with these highlights from the last month. Want a monthly recap sent directly to your inbox? Subscribe to our newsletter today.
The new year's most popular blog examines the paradox of Procurement's approach to talent. While most CPOs worry their teams don't have what it takes to deliver, a surprising few are actively taking steps to correct the situation. In addition to calling for a greater focus on training, the blog asks Procurement leaders to consider emphasizing so-called soft skills. Often dismissed as low value, these are the qualities that should come to define excellence in Supply Management.
For leading organizations, responsible sourcing practices are no longer an option. As the supply chains around the globe begin the feel the effects of climate change, they've become an absolute necessity. In this blog, Brian Seipel provides a working definition for 'sustainable sourcing' and describes some of the tangible benefits such practices can bring an organization.
Among the more pressing issues facing today's Procurement groups, low visibility leaves organizations vulnerable to an incalculable number of risks. Unfortunately, organizations without insights into their supply chain vastly outnumber those with insights. Source One calls on organizations to address the issue in a new year. In addition to helping mitigate risk, increasing visibility makes it possible to address consumers with greater transparency.
Kicking off a new series on Procurement Transformation, Consultant Jaisheela Setty outlines the steps an organization can take to evolve its Procurement function. Purchasing teams become Procurement teams, she suggests, when they adopt a proactive, strategic approach to their activities. The benefits of such an approach are numerous. When companies commit to driving Procurement's evolution, they produce greater value, eliminate inefficiencies, and boost the quality of their supplier relationships.
The effects of the Trump administration's changes to trade policy impacted supply chains across the globe throughout 2018. Forbes recently identified the trade war as the year's single most important supply chain story. Though the trade war cooled over the holidays, experts expect the issues associated with it to reemerge throughout the new year.