15th June 2017
June 2017 Procurement Industry News
Procure-to-Pay: The Great Supply Chain Time Machine
In this recent blog post on GTNexus by Peter Nilsson, he examines the concept of moving resources from the present to the future. And how the ability to move resources in time, through procure to pay systems, can have a huge effect on the efficiency of an organisation’s supply chain.
The Future of MRO Procurement
In this post on Strategic Sourcerer, Michael Croasdale discusses the advances in predictive technology surrounding maintenance repair operations. Predicting a breakdown before it happens eliminates the increased costs associated with distress purchases. But how much more of the process can be automated?
Supply Chain Sourcing Taking on More Geo-Political Significance
Bob Ferrari takes a look at how fluctuating currencies can affect export growth. Perhaps surprisingly, it does not always follow that a weakened currency leads to an increase in exports. Using the example of Aston Martin, post Brexit, the increased costs of sourcing offshore components offsets any sales margin gains.
Payment Problems Cause Business Survival Concerns Among CFOs
This article, based on research by American Express, highlights the concerns of CFOs within Australian businesses. The lack of payment innovation has led to around half of businesses having problems with receiving payments from customers and making payments to suppliers.
Money Talks, So How Can Procurement Prove Its Worth?
This guest post on Spend Matters by Daniel Ball discusses the fact that cost saving initiatives and securing better prices from suppliers are often still the only metrics taken seriously by the Board. But procurement needs more than just spreadsheets to demonstrate their true value to the business.
All You Need to Know About Modern Slavery in Supply Chains
In this article on the Oxford College of Procurement & Supply’s site, they discuss The Modern Slavery Act 2015 and its efforts to ensure that international supply chains are working ethically. The article highlights the areas where slavery is likely to exist and the impact not complying with the Act can have on a business.
Is P2P Keeping Us Stuck in the Mud?
This post on Procurious, by Eva Milko, takes a look at how organisations may be being held back by purchase-to-pay buying systems. With the technology having been around for a quarter of a century, procurement is still struggling with maverick spend and enabling some of the simplest transactions. So what is the answer?
Piracy on the Rise and Costing Billions
Andrew Allen’s post on Supply Management discusses the rise in ocean going piracy and kidnapping for ransom, and how this is costing supply chains huge amounts of money. As well as the increased costs associated with extra security, many merchant vessels are having to be diverted around piracy black spots.