One definition of a successful purchase is the right product or service, delivered in the right place, at the right time, of the right quality, for the right price. There is scope for failure in each one of these elements. Managing procurement risk means understanding what can go wrong and having plans in place to avoid unwanted outcomes. Many organizations are not fully aware of the many types of procurement risk they are exposed to and are therefore not ready when supply chain disaster strikes.
You did it, 2020 is over. While last year had an abundance of challenges, many organizations saw a silver lining by pivoting to new methods of supporting remote work, streamlining manual processes, and implanting automation in areas of business operations that in the past, would not have been possible.
Anyone who owns a business knows that the winter months can be messy. Cold weather brings an onslaught of salt, snow and dirt into your facility, which can be off-putting to customers while causing the potential for slips, falls and other accidents.
For many businesses heavy equipment is a necessity to increase competitiveness and worker productivity; however, owning and maintaining an inventory of equipment assets can be extremely costly. Additionally, owning equipment can actually eat into worker productivity and result in diminished returns.
How can procurement teams help ease the equipment burden for their business? The answer is actually pretty simple, rent instead of buy. The rental of large physical assets and heavy equipment will optimize budget and operational efficiency.
Today’s economic environment is exerting extra pressure on companies to find new ways to reduce expenditure. Cost-saving is still the #1 goal in procurement.
A Group Purchasing Organization (GPO) is a member-based organization that provides companies with purchasing benefits that they would struggle to achieve on their own. GPOs have traditionally focused on obtaining discounts for their members through their ability to leverage volume purchases. Modern and successful GPOs now provide a wide range of benefits, way beyond savings.
Many of us are excited to welcome 2021 with open arms. A new year means new possibilities, change and growth. While many are still feeling the effects of the pandemic, Centimark and Questmark are looking for ways to help members of OMNIA Partners stay ahead during the new year. Here are some roofing and flooring trends that they expect to see in 2021 and some recommendations they have to help.
The pandemic has affected job roles in many different ways. For some companies, demand dropped significantly at the start of the pandemic but has returned to normal levels. For others, demand and supply chain fluctuations have proven difficult, such as situations where they have had to lay off staff and then rehire to meet changing needs. For hiring managers, this means that a great level of flexibility is required. Now, staffing agencies are playing a significant role in helping clients become more agile, as employers still need employees to meet business goals. The current environment simply means that hiring managers must be creative and strategic in finding them.
Most procurement departments are familiar with running an office products Request For Proposal (RFP), especially the time, effort and resources required. Years of running RFPs may give a company confidence that they are putting in place an effective office supplies contract with negotiated savings. However, hidden costs are not always uncovered with an Office Products RFP.
While business travel itself can be both rewarding and challenging, nothing makes an employee’s eyes glaze over more quickly than the thought of the post trip expense processing. Time-consuming, rife with potential for error, it can be a hotbed for both inadvertent and deliberate fraud that can lead to severe consequences for individuals and businesses.