Supply Chain March 23, 2023
Why is the Direct Material Procurement Lifecycle Still Left Outside of Digitalization?
Procurement or purchasing is an essential part of any business. No business can function without employing the services of another entity to complete their full business cycle. That said, the nature of the goods and ...
Read more..Supply Chain February 12, 2023
History of Electric Vehicles and Procurement's role in Electrification
Internal combustion engine (ICE) vehicles are still the dominant players in the automotive market. But with climate change, sustainability issues, etc. cropping up, Electric Vehicles (EVs) have been challenging the status quo. In fact, the ...
Read more..Supply Chain December 28, 2022
Toy Story: It's History, Complexity & Procurement's Role
Remember the days when life was easy, devoid of social conventions and expectations, and unaffected by the challenging realities of adulthood? Remember your neighborhood was everything to you and toys were your only companion? You ...
Read more..Supply Chain December 12, 2022
Procurement in Superstar Rajinikanth's Style
Superstar Rajinikanth is a phenomenon. His stardom transcends beyond the city, state, and country borders. And it would not be a surprise if our friends from outer space celebrate him. For some, he is a ...
Read more..Supply Chain November 10, 2022
Sustaining Movement - On sustainability, electric vehicles and the environment
Isaac Asimov is an irreplaceable name in the world of science fiction literature. The prolific author was widely known and regarded for his ability to explain complicated scientific concepts clearly and very distinctly ahead ...
Read more..Supply Chain October 23, 2022
Supplier Dashboard I: Your partner for effective Supplier Management
In sports, professionals are under constant pressure to perform at the highest level. And to reach that level, they can’t do it by just playing. Players have to undergo rigorous practice sessions, analyze their gaps, ...
Read more..Supply Chain October 13, 2022
5 Major Challenges for EV Manufacturers
According to the Intergovernmental Panel on Climate Change, transportation accounts for about 23% of global energy-related greenhouse gases, and of that, road transportation is 72%. In an effort to prevent the rising effects of climate ...
Read more..Supply Chain October 12, 2022
How a Source-to-Pay Software Supports in Effective BOM Comparison?
In a product manufacturing company, comparing the BOMs of a product at different stages of its development lifecycle helps companies evaluate whether the design is in accordance with the technical objectives and the cost target. ...
Read more..Supply Chain September 30, 2022
Direct Procurement - Challenges in RFX Process
Challenges in the RFX process in Direct Procurement Let’s consider a hypothetical scenario. Jane is a procurement manager in a product manufacturing company that has a strong reputation in the industry. They are currently working ...
Read more..Supply Chain September 29, 2022
Importance of Supplier Selection Criteria in Establishing Strategic Sourcing
According to the Aberdeen report on strategic sourcing, 68% of the survey respondents believe that strategic sourcing plays a huge role in their organization. Â 53% of the survey respondents believe that a top strategic ...
Read more..Supply Chain September 28, 2022
5 Aspects of Effective Supplier Management
Supplier Management Product manufacturing companies have suffered a lot in the past couple of years. The pandemic, post-pandemic effects, wars, trade embargoes, volatile commodity prices, inflation, labor relations, raw material hoardings, and supply disruptions have ...
Read more..Supply Chain September 25, 2022
Quotation Process: A brief Description
What happens when you are on the lookout for buying an electronic item, an automobile, or even a house? You visit multiple vendors and compare prices, and based on your needs and budget, choose a ...
Read more..Supply Chain September 24, 2022
Solving the Complexity Conundrum in Achieving the right Product Cost
You go to an Apple store and purchase the latest 256 GB iPhone 14 Pro Max. And its Manufacturer's Suggested Retail Price (MSRP) right off the shelf is $1199. But, the actual product cost of ...
Read more..Supply Chain September 17, 2022
Supplier Negotiation - The need for Source-to-Pay software
Supplier Negotiation is part and parcel of our daily lives. It is a clear contest where one takes the cup and the other, well, just watches. Think about your last purchase, be it groceries, an ...
Read more..Supply Chain September 11, 2022
What is a Purchase Requisition?
Manufacturing companies require multiple items daily, from raw materials, semi and fully-finished goods, to office supplies and services. And to purchase these goods, companies need to go through a systematic process that helps them manage ...
Read more..Supply Chain September 05, 2022
Bill of Materials (BOM) - What it is and what are the types?
What is a Bill of Material (BOM)? What's the first thing you do when you want to buy grocery items? You make a list. It could be a list of ingredients you need to cook ...
Read more..Supply Chain August 31, 2022
Difference Between Sourcing and Procurement
Product manufacturing companies have multiple departments that collaborate to achieve their business objectives. And when it comes to handling the supply chain operations, sourcing, procurement, and supply chain teams form a vital cog. On the ...
Read more..Supply Chain August 25, 2022
Scope 3 Emissions: Risks, Opportunities, and Role of Procurement
Earlier, sustainability was just a topic in boardroom meetings, but now, it is not so. It is becoming a pressing issue in organizations. And enterprises worldwide are calling for greenhouse gas (GHG) emission reductions like ...
Read more..Supply Chain August 23, 2022
Direct Procurement: The 6 Key Differences of Direct vs Indirect Procurement
Direct Procurement The procurement process is categorized into Indirect and Direct Procurement. It comprises Request for Purchase (RFP), Request for Quotation (RFQ), Quotation negotiation & selection, Purchase Order (POs) release, Material tracking, Goods Receipt, and ...
Read more..Supply Chain August 22, 2022
Formula 1 Engine: 2026 Regulations, Procurement, and Supply Chain
Formula One cars are the fastest on the planet around a race track. And they are one of the vital cogs for success in an F1 race. Any good driver with high skill sets will ...
Read more..Supply Chain August 19, 2022
Procurement & Supply Chain Management: Role of Procurement in Supply Chain
Procurement & Supply Chain Management Over the past few years, businesses across industries have faced unprecedented supply chain disruptions. While many business leaders, especially those in the supply chain and procurement, believe that the ghost ...
Read more..Supply Chain August 12, 2022
2012 The Movie: How was the Ark built?
The year 2009 saw a lot of feature films come and go. And as per (the International Movie DataBase) IMDB, the list of feature films amounts to a whopping 7610. That's a lot! I probably ...
Read more..Supply Chain August 11, 2022
Procurement Technology: Why it is a must for Product Manufacturing Companies?
The early 1780s can be considered as the beginning of modern manufacturing, when Oliver Evans, an American inventor, began experimenting with the first automated flour mill. And there was no stopping from there. Today we ...
Read more..Supply Chain August 07, 2022
Direct Procurement: Challenges in Product Manufacturing Companies
Direct Procurement Challenges in Product Manufacturing Companies Procurement teams juggle multiple roles, from identifying the need to vendor/supplier management and even facilitating payment processing. And while doing all of these, they also need to keep ...
Read more..Supply Chain July 08, 2022
Wimbledon - A Procurement Excellence
Champagnes, strawberries, and 50K tennis balls behind a spectacular event Wimbledon – an event that personifies everything British is back to its original form after a 3-year sabbatical. Every product and aspect of Wimbledon is ...
Read more..Supply Chain June 20, 2022
New Product Development: How to avoid failed launches?
It is every organization's dream to launch new products. A successful product launch puts the organization on the map and opens the door to new possibilities. Consistently introducing new products to the market also indicates ...
Read more..Supply Chain May 25, 2022
Direct Material Procurement Life Cycle Guide - Part 1
The objective of this guide is to explain the Direct Material Procurement Lifecycle — details, exceptions, and complexities — in the context of product manufacturing industries. This would include companies in such industry sectors but ...
Read more..Supply Chain May 09, 2022
Strategic Sourcing: The 7 step sourcing process
Strategic Sourcing is no longer a Good-to-Have Working closely with suppliers and internal stakeholders brings innovation and greater efficiency to the procurement lifecycle. Strategic sourcing is a proactive process that involves continuous improvement and ...
Read more..Supply Chain March 30, 2022
The Global Sand Shortage: One more Reason to Build a Crises-Proof Supply Chain
Sand is a ubiquitous commodity. We know that sand is present everywhere, blanketing deserts, lining coastlines, and covering riverbeds. From the Sahara to Arizona, there are billowing dunes of these brown granules everywhere. Yet, there ...
Read more..Supply Chain September 28, 2021
Supplier Management : A modern & automated approach
Supplier Management: In traditional Supplier Management, the focus was only on cost reduction. The buyer-supplier relationship did not extend beyond that. Today, it is recognized that Suppliers play an important role in the long-term success ...
Read more..Supply Chain September 26, 2021
SCRM : Mitigating Supply Chain Risks with a Resilient Procurement Platform
Supply chain risks: Unforeseen delivery bottlenecks put companies under acute pressure to act. Events such as the COVID-19 pandemic, blocking of the Suez Canal, or fire at one of Renesas’ factories (Supplier for automotive controller ...
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