Supply Chain News and Updates from the Procurement Leaders
 

Source One News and Insights – September 2018

The Latest Supply Chain, Procurement, and Sourcing News

Procurement News and Insights from Source One

 


– SOURCE ONE NEWS –


Supply Chain and Procurement Conferences This Autumn

Source One’s Spend Management Experts Attend Fall Conferences

The Supply Chain specialists at Source One closed out Q3 with trips to several industry conferences. First, representatives from Source One’s IT Procurement teams joined their forward-thinking peers at the Enterprise Technology Management Association’s annual conference in Philadelphia. Focused on building awareness for new solutions and fostering partnerships, the event should help Source One further refine their Procurement Technology Advisory practice. On the 27th, members of the firm’s Chicago team headed to the Procurious Big Idea Summit to absorb thought leadership on some of Supply Management’s hottest topics. Come October, they’ll join other Marketing Procurement professionals at MarTech in Boston. The event should provide additional insights for breaking down siloes between business units and developing more strategic


– SUPPLY CHAIN INSIGHTS –


Programmatic Purchasing and Media Agency Procurement

Programmatic Buying, In-House Agencies, & The Fate of Media Buyers

Automation is all the rage in Procurement and Supply Chain Management. This means forward-thinking organizations are looking for every opportunity to replace their manual processes and introduce new technologies. Within many companies, the shift toward programmatic buying has coincided with a similar move toward in-house media purchasing. Source One’s Brian Seipel recognizes the decision can benefit certain organizations. He reminds readers, however, that in-house, programmatic media buying isn’t right for every company. He encourages readers to thoroughly assess their company’s skills to find the right balance between in-house and external resources.

Trade Groups Unite Against Tariffs and Supply Chain Interruptions

80 Trade Groups Unite, Decrying Tariff War Impeding Supply Chain

Across countless industries, global supply chains are reeling from the ongoing trade war between the United States and China. Dozens of trade organizations are making their frustrations known. More than 80 trade Groups have banded together to form Americans for Free Trade.  They aren’t alone. Recent surveys suggest that nearly 50% of everyday Americans feel similarly. Corporate leaders have been quick to remind consumers that they’ll soon feel the burn of new tariffs. As supply chains contend with new regulations, they’re increased costs will ultimately start to impact prices and even lead to job loss across their supply chains.

Visibility and Transparency for Procurement and Supply Chain Management

Supply Chain Visibility and Transparency: What’s the Difference?

Surveys suggest that transparency and visibility are lacking across today’s organizations. Deloitte’s CPO Report found that the majority of Procurement groups lack visibility beyond their tier-1 suppliers.  Matters are complicated by the tendency to use ‘visibility’ and ‘transparency interchangeably. Throughout this blog, Bennett Glace examines the crucial difference between the two. Visibility, he suggests, has to due with internal processes and operations. Transparency, on the other hand, relates to how a business presents itself to the outside world. Organizations should strive for both, but transparency is (increasingly) more important.

Supply Chain Managers Gear up for Hurricane Season

Supply Chain Risk Management Must Be Ready to Handle Hurricanes

Last year’s disastrous hurricane season was wake-up call for Supply Chain Managers across North America. With another looming on the horizon, Procurement needs to ramp up its risk management efforts and take a proactive approach to answering disruptions. Quick action is key. Once a hurricane has made land-fall, it’s already too late to make maximally effective changes to Procurement’s structure and operations. Organizations like IBM are already providing a case study in the potential impact of Artificial Intelligence. Their proprietary Watson technology makes it easier than ever to accurately predict and prepare for natural disasters.

Analyzing Marketing Spend to Optimize Budgets

A Different Approach to Marketing Spend Analysis

Spend analyses provide essential visibility into an organization’s historical purchases. In the Marketing category, however, the traditional approach to analyzing spend rarely provides the necessary level of insight. Done correctly, a spend analysis can provide insights into redundancies, decoupling opportunities, and avenues for budget optimization. To ensure they gain these insights, Procurement must align itself closely with Marketing stakeholders and amend its approach to developing spend subcategories. These changes might sound small, but they’re critical for Procurement to turn an analysis into an opportunity for ongoing budget optimization.

Procurement, Supply Chain Management, and Blockchain Technology

Blockchain: What’s in it for Procurement?

Few technologies command more scrutiny and speculation than blockchain. Providing for tamper-proof, easily traceable ledgers, blockchain-powered tools are already helping supply chains across the globe to evolve. Procurement professionals everywhere hope their organization will realize next-generation results and optimize their approach to supply chain management. Brian Seipel takes a closer look at blockchain and its potential applications for Procurement. While the tool has potential, he encourages Procurement to exercise some caution. There’s no guarantee, he suggests, that blockchain will prove anything more than a flash in the pan. Proactive, strategic action is key.

 

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