Happy Friday! Hope you all had an amazing week! Today, I want to discuss the 12 most important factors you should consider when choosing a supplier. These are important because they ensure supplier selection success and help you realize quality opportunities. Without further ado, please read below for the top 12 factors to consider whenContinue reading “E.O.W (End of Week) Notable Tip: Key Performance Factors for effective Supplier Selection”
Category Archives: Supply Chain
Simple Procurement Hacks to realize Savings
To elaborate further on previous article, “Price focused Sourcing is bad for Business”, I have created a list of procurement hacks for realizing savings. 1) Audit invoices and purchase orders to identify unapproved vendor charges, price discrepancies, and unapproved purchases. 2) Audit vendor database to ensure accurate data, remove duplicate information and ensure vendor hasContinue reading “Simple Procurement Hacks to realize Savings”
Price focused Sourcing is bad for business
We live in a capitalist society. It’s understandable that companies want the best prices on supplies and materials to make their products or provide a service. When your procurement team is only motivated by price instead of the total cost, quality, delivery and logistics is lost. For example, your Procurement Manager may think, “Hey, weContinue reading “Price focused Sourcing is bad for business”
Top 7 Tips for a Sustainable Supply Chain
1) Encourage suppliers and clients to re-use containers/boxes 2) Decrease lot sizes 3) Actively share demand forecast and inventory data with suppliers to ensure efficient purchasing and timely inventory replenishment 4) Develop a quality plan and actively (Quarterly checks) ensure supplier is meeting quality requirements by conducting an on-site visit 5) Use total cost methodContinue reading “Top 7 Tips for a Sustainable Supply Chain”
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