The ongoing Iran conflict has the potential to significantly disrupt global supply chains. As the Middle East is a key hub for energy production and international shipping routes, instability in the region can have widespread economic consequences. From rising energy [Read More]
Horizon scanning is a structured way for organisations to identify emerging risks, opportunities and market shifts before they impact performance. By looking beyond immediate suppliers and short-term pressures, procurement teams can make better strategic decisions and build more resilient, sustainable [Read More]
To enhance our status and ensure we provide optimum value without reducing quality, we can adopt a LEAN approach. The LEAN methodology originated in manufacturing during the 1950s, largely attributed to the Toyota Production System. It's core aim is to [Read More]
What makes KPIs so vital to Procurement? Just because the purchase order is placed with the supplier, our work as procurement professionals is not done. At this stage of the procurement cycle (stage 10), our work should be focusing on [Read More]
As a procurement professional one of your main objectives will be achieving value for money on purchases. One way to reach this objective is to focus on the cost of acquisition rather than the price of acquisition. Price and cost [Read More]
Over the last few years, procurement has been undergoing a digital transformation. A key feature of this digital transformation is the use of artificial intelligence (AI). AI can bring many benefits to procurement teams and their companies. In this post, [Read More]
The traditional tool used to analyse and evaluate the macro environment is either PESTLE or STEEPLE. The STEEPLE acronym covering socio-cultural factors, technological factors, economic factors, environmental factors, political factors, legal factors and ethical factors. All of these areas can [Read More]
The picture on the ground in Florida is very different from the pictures on the news. There is a sense of foreboding across the state all the way from the Florida Keys up through Tampa on the west coast and [Read More]
The debate continues over the decision to develop a lean supply chain, an agile supply chain, or a hybrid model: leagile. Lean supply chain thinking was developed by Toyota to develop their production capabilities through constant innovation in resource reduction [Read More]
Supplier relationship management (SRM) and the more recently devised method of supplier engagement are both equally important to the modern procurement professional. They each have their advantages and disadvantages, and determining which one is more applicable to the situation, if [Read More]
