Monthly Round Up: June 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.

5 Benefits of a Strong Supplier Diversity Program
In an increasingly diverse business world, it's essential for organizations to build relationships with a diverse selection of suppliers. Organizations with dedicated supplier diversity programs take a particularly proactive approach to partnering with minority, woman, veteran, and LGBT-owned businesses. It's not just the right thing to do. Source One's Brandon Hummons suggests it's also good business. Diversity, he writes, breeds innovation, caters to a new generation of consumers, and can even generate more brand awareness.

Before Procurement can transform its operations, it has to change its mindset. Rather than viewing transformation as something to achieve through a single initiative, the function needs to recognize that it's an ongoing process. Once they've reached this realization, Procurement teams will better succeed at earning executive buy-in and commanding respect throughout the life of transformative initiatives. 

Beleagured Business Owners Preparing for More Wild Weather
With hurricane season underway, supply chain managers across North America are preparing their disaster response plans. Organizations who took a hit throughout the last several years are not taking their chances. With meteorologists predicting as many as four major storms, they're planning alternate routes, developing contingency plans, and ensuring their lines of communication are dependable. Is your organization prepared for extreme weather? 

Fleet Management in Procurement: Where to Start the Evaluation Process? 
An effective approach to fleet procurement means attending to a number of vital subcategories. Fleet and logistics expert Ken Ballard looks at a number in this insightful blog. Many of these areas, he suggests, could provide significant cost savings to the savvy Procurement team. Fuel and maintenance costs, for example, could present countless opportunities to drive down costs, eliminate inefficiencies, and find additional soft cost value adds. 

How to Get a Best-in-Class Procurement Organization from Day 1: Buy It. 
Building mature Procurement organizations takes time and effort. For immature teams, the process is even more arduous. Organizations tend to forget just how many moving parts they'll need to address if they want to carry out a full transformation. Senior Analyst Ben Duffy suggests these organizations consider identifying a partner who can provide them with a turnkey Procurement solution. Partnered with such a firm, they'll realize ROI more quickly and avoid unnecessary headaches. 
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