ICYMIM: July 15, 2019

ICYMIM: July 15, 2019

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.

Supplier Selection Tips: Do this, Don't Do That

Public Spend Forum, Spend Matters, 7/12/2019

Selecting the proper suppliers is a crucial step in building your company's supply chain. Managers must ask the right questions in order to obtain the right match. Have you considered what your quality threshold is? Are you assessing each candidate's risk factors? All of them? This Spend Matters Blog breaks down the five phases of choosing the right supplier for your needs. 

How Supplier Diversity is Working in the Real World
Sarah Scudder, Future of Sourcing, 7/10/2019

Over the past few decades, supplier diversity programs have expanded their boundaries. Supply Management is embracing many different communities such as women-owned businesses, LGBT-owned business, and veteran-owned businesses. Not only does partnering with diverse suppliers promote corporate social responsibility, but studies are showing that productivity is on the rise thanks to supplier diversity programs. Sarah Scudder of RSN highlights current trends in supplier diversity programs and the "Six C's of supplier diversity. 

4 Tips for Creating a Reliable Inventory of Your Vendors

Josh Angert, Sourcing Innovation, 7/10/2019

Don't overlook the value of keeping detailed inventories of your vendors. Many companies are skipping this step and it's costing them. Third-party systems help to avoid misinformation and provide a speedy and simple reference guide when necessary. Josh Angert provides four key tips on how to implement an efficient vendor management system that tracks inventory and ensures efficiency.