Source One Procurement and Strategic Sourcing July 2017 Newsletter
 

The ReSource – July 2017

Source One Newsletter - July 2017 Edition

 


– SOURCE ONE NEWS –


ISM2017 – Orlando, FL

The highly anticipated Institute for Supply Management (ISM) Annual Conference went off without a hitch in Orlando, featuring incredible keynote speakers David Cameron and Colin Powell. Among the four days of informative and interactive presentations and sessions, Source One’s own cost reduction experts hosted and participated in panel sessions covering a variety of spend management topics including procurement millennial talent management, the application of spend analytics in procurement, and group purchasing practices. As Diamond Sponsors, Source One was pleased to support ISM in this opportunity to deliver an event for supply chain professionals unlike any other.

ExecIN  Orlando, FL

As part of the ISM2017’s executive track, the Annual Conference also featured a two-day sub-conference, ExecIN- sponsored by Source One Management Services.  Reserved exclusively for executive-level Procurement leaders from very large organizations, the session’s agenda focused on unique supply chain and procurement challenges faced by global companies. Among the highlights, ISM2017 keynote speakers David Cameron and Colin Powell hosted private Q&A sessions for ExecIN attendees,  offering their perspective on leadership, as well as the global political climate.

ISMNY Annual Risk Management Conference – New York, NY

The Institute for Supply Management’s New York branch hosted their annual chapter event in New York City. This year’s conference was on the topic of supply chain risk, and with Source One’s sponsorship the conference featured analytics presentations from Dun & Bradstreet, Bloomberg, MUFG, and Mindshift. The workshop aimed to help supply chain organizations identify and evaluate risk among suppliers through innovative strategies, including the utilization of the latest in data mining and visualization.

Spend Matter’s 50 Procurement Services Providers to Watch for 2017

For the second year in a row, Source One has been named a “Provider to Watch” by esteemed industry publication Spend Matters. With the launch of the spend analysis as a service web platform SpendConsultant.com, and improvements to its reverse auction platform WhyAbe.com, Source One is continuously evolving its services to meet the changing needs of procurement organizations today.

Road to SYNERGY- Baltimore, MD

This summer, Source One and Partner Corporate United are heading out on the Road to SYNERGY for one-day events in select regions across the country. The first stop was in Baltimore in early June, where local supply management professionals and Corporate United GPO members to exchange procurement best practices, development advice, and category management solutions with other industry specialists in their area.

SDCE 2017 Top 100 Projects Award

Source One’s spend management initiatives were again recognized Supply & Demand Chain Executive Magazine, making the supply chain publication’s 2017 list of Top 100 Supply Chain Projects. The specific strategic sourcing initiative highlighted by the supply chain magazine centered on a client seeking a new warehouse management system capable of supporting its mission of delivering high-quality, plant-based foods through sustainable supply chain practices. Source One aligned IT and Supply Chain stakeholders to ensure the selected system met both IT and supply chain requirements, cost effectively.

 

– SOURCE ONE INSIGHTS –


 The impact of IBM Watson on MRO procurement

IBM Watson and the Future of MRO Procurement

Artificial Intelligence (AI) is a hot topic in the procurement industry as it has the potential to play a major role in the future of MRO procurement. With the ability to schedule or request regular maintenance, predict the need for repairs before a breakdown even occurs, and automate the procurement of the items necessary for these replacements or repairs, this new technology can offer a variety of organizations significant value. The concerns of a breakdown that will delay operations, require parts and services whose costs were unplanned, and inflation from expedited delivery or service are all removed with AI in the MRO procurement space.

 Supply Chain and Procurement Collaboration

Inventory Management to Procurement

The supply chain function is complex, and the role of strategic sourcing and procurement in enabling that function is often misunderstood. While savings opportunities and process improvement are important priorities, inventory management is crucial for supporting supply chain and purchasing decisions. The interconnection between these departments can alleviate change management, and allow all business units to benefit from procurement’s capabilities.

 How can Procurement stay ahead of supply and demand causing pricing increases?

Pulp and Paper Prices On The Rise Again?

Raw materials often experience price fluctuations due to changes in supply and demand from natural causes, politic shifts, and more – the same is the case for pulp and paper. With wood pulp prices and demand on the rise, paper-based manufacturers may have to pass through the those increases onto customers.  As pulp and paper prices are expected to take another hike by 2019, we explore the demand factors influencing the rise in costs.

 

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