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.
Dan Grant, Senior Vice President Vertical Markets, and Lisa Wittmer, Vice President, Partner Development Technology Solutions, were featured by Supply Chain Now in a discussion on the difference between a traditional -vs- modern GPO, the depth of category expertise GPOs leverage for members, how GPOs are helping supply chain leaders future-proof their business, their 2021 supply chain predictions and MUCH more. Watch the video below!
⏰ Total Read Time: 5 minutes
Embracing the new business environment implications will help companies rise to the occasion and be a leader in longevity. By empowering companies to adopt change, leaders can increase agility and resilience, making any crisis disruption an opportunity for innovation - rather than an impediment to overcome. Whereas businesses hesitant to adopt new strategies, or avoiding change, are risking being left behind with diminishing returns. Enterprises looking for ways to simplify adoption, streamline processes, future-proof, and contain resource expenditures can look to their group purchasing organization (GPO) to help turn crisis into profit by implementing impactful change.
⏰ Total Read Time: 4 minutes
Disruption quickly, and often, dramatically alters the purchasing landscape. Enterprises nationwide are experiencing the impact this is taking on their human resource professionals. As the pandemic progresses, the HR function will be continually challenged with keeping workers safe, healthy and informed, in addition to their everyday performance duties. Soon - if not already- HR teams will face permanent changes such as:
Purchasing professionals are constantly being tasked to do more with less. There is an ever-growing savings goal and an unmanageable number of suppliers/categories to be responsible for, in addition to improving long-standing contract savings and service-levels, benchmarking results on current contracts and overall market trends, and satisfying end-user stakeholders’ priorities, unique needs and goals. Group purchasing organizations (GPOs) can narrow the scope of priorities for procurement as they take on and deliver on the most important value drivers.
⏰Total Read Time: 2 minutes
The National Oceanic Atmospheric Administration (NOAA) is predicting 2020’s hurricane season (June to November) to be 60% more active than usual.
⏰Total Read Time: 6 minutes
As businesses move forward with staged reopening strategies there are continued (and new) considerations that are necessary for sustainability in an unstable environment. One critical infrastructure area that is on high-alert is technology.
⏰ Total Read Time: 6 minutes
Now that businesses nationwide are opening in phased approaches and at varying degrees, it represents a necessary shift in supply chain planning and purchasing strategies for facilities.
⏰Total Read Time: 4 minutes
The pandemic has forced business operations to adopt more ad-hoc and reactionary strategies toward supply chain planning, production, spend management and risk mitigation. This reactionary approach is not the most efficient strategy as it doesn’t align functional data to supply chain or spend management goals.
