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.
Alex Behrens, Spend Matters, 2/25/2019
As the digital transformation of business and society takes over, customer expectations are becoming increasingly more demanding of providers. The only solution is to really spruce up your digital supply chains. Customers are no longer satisfied with discovering new trends in-store, they want to see everything online and they want it at their door in the next day or two. Digital Supply Networks (DSNs) are faced with challenges because of this now very equipped type of shopper that can switch through multiple shopping interfaces on their smart devices, view a product in-store, and have it shipped to their home within a couple days. DSNs must acquire a single-source of truth to keep up with all the data that is running in and out. Behrens gives more tips and details in his article, so check it out!
Single Sourcing: Pros & Cons
Herb Shields, Thomas Net, 2/25/2019
In the cases where a buyer is faced with a decision to use a single-source supplier, Shields gives a couple factors to consider before making the decision. While it could be a lot less work dealing with only one supplier and you have negotiation power as you are giving the supplier the benfit of such an exclusive partnership, you still have to consider periods of tight supply, whether your company is keeping a competitive advantage with this source, sustainability, etc. This is all common knowledge, but Shields equips professional purchasers with a steps to develop a detailed plan for each commodity to ensure an informed decision is made every time. Sometimes there are things we already know, but everyone needs reminders! Check it out.
It’s 2019. This is What QuickStart Procurement Should Look Like!
Michael Lamoureux, Sourcing Innovation, 2/19/2019
A sort of continuance from Lamoureux's previous post about procurement leaders being a decade behind, apparently technology providers are as well. Here he provides a detailed list of components you should expect to be included in a standard Quick Setup, and what to look for when selecting a technology that could potentially modernize procurement and open it up to your entire organization. Urging professionals to think big, visit the post for the details.