The current public health crisis due to COVID-19 has impacted not only people’s lives but also businesses around the globe. The demand in most sectors has shrunk, and with supply and demand unbalanced, the price of most products has been affected. With less demand, most products have seen price decreases, but there are exceptions.
The calendar continues to fill up, and this week I added events that are scheduled well into the month of July. There are 12 events taking place this week alone. Unlike other years, when things slowed down more for the July 4th holiday, there will definitely be event recommendations for the week of June 29-July 3. In addition to the events listed below for this week, I’d like to recommend two longer term events:
Leaders of procurement teams at manufacturing and process companies are decisive. They know what they want in a supplier. They want a supplier with a similar culture and competitive quality, service and delivered cost. They want a supplier to be involved early in the design process and to be forthcoming with new ideas. They want a supplier to collaborate to control costs over the life of a contract.
If you are outside of the U.S., just a quick reminder that Monday is Memorial Day, a Federal holiday and the unofficial start to summer. Most people are still marking the day in some fashion, but I suspect that very few will be taking to the roads, so the week should be relatively business-as-usual starting on Tuesday.
If you are planning your schedule further ahead, I recommend “How BNY Mellon is Building a Value-driven Procurement Organization” on June 2nd from IACCM, BNY Mellon, and SirionLabs.
After last week’s busy schedule – including a number of webinars and the ISM conference in Houston, this week falls back to a slower pace. I’m seeing a ‘clustering’ effect for the next two weeks, where a bunch of webinars are being offered, but they all seem to overlap. Even this week’s three recommended events all occur on Tuesday within a three-hour window.
If you are planning your webinar schedule beyond this week, I recommend ‘Accelerating Supplier Enabled Innovation – Harnessing the True Power of Supplier Relationship Management’ from Zycus and Four Pillars’ David Atkinson on April 23rd at 11am ET.
BTW: If you haven’t already, sign up for our mailing list to be sure you get my weekly recommendations in your Inbox each Monday.
3D printing and its applications are evolving rapidly, although most manufacturing businesses are at least five years away from mainstream adoption of the technology. It has a long way to go before becoming a routine aspect of many production environments. Market leaders, however, are gradually embracing 3D printing to take advantage of the technology and stay ahead of the competition. The advantages are numerous – speed, lower cost, time and effort, cheaper manufacturing, ability to customize products, etc.
Where did 2016 go? This is officially our last week of covering webinars for the year – partly because everyone needs to rest sometime and partly because there are no more events to cover! We’ll be back starting January 9 to kick off a new year of webinar recommendations. If you haven’t already, sign up for our mailing list to be sure you get the weekly recommendations in your Inbox each Monday.
Click on the title of each webinar below to view the full description and register.
When you just look at a purchase from a pricing perspective, it would be reasonable to think that purchasing products directly from the manufacturer be an effective way to reduce unnecessary overhead and markup costs. While I generally find this to be true in practice, if it were that black and white the large number of distributors thriving in today’s markets would cease to exist. Manufacturers and distributors each have strengths and weaknesses, but in a strategic purchasing landscape you do not always need to choose between the two. In fact, developing a balanced relationship with manufacturers AND distributors often proves to yield the most value, particularly with high volume purchases.
This week’s webinar notes are from a September 8th webinar sponsored by APICS Southeast and presented by Melissa Wright, VP of Supply Chain at Prayon Group. The event is available on demand on YouTube.
This week’s recommendations are all focused on the very latest in procurement technology, and – more importantly – what it allows the organization to accomplish. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.
This week combines virtual and in person events. Monday through Thursday is #ProcureTech2016 hosted by Spend Matters. If you’re there, go see BuyerQuest at booth #13 and enter to win a copy of Procurement at a Crossroads. I’ll be serving as the virtual facilitator for ISM-New York’s annual meeting on Wednesday. If you’re looking for something a bit more virtual… we have you covered there, too. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.
Continuous cost reduction in the manufacturing industry is a supply chain best practice, but all too often it is mistakenly seen as unsustainable by strategic sourcing and procurement departments. For many companies the question is, ‘how can I reduce costs while limiting the impact on quality?’ Before jumping right to substituting materials, there are other options for delivering cost savings - yes, even over time.
Back in April, Greg Anderson, President of Directworks, wrote a post for their blog that contained a classic good news / bad news scenario: Making the business case for sourcing automation is more about executive relevance than ROI.
First, the good news: because of the cost reductions associated with cloud delivery models, delivering an amazing ROI shortly after implementing a sourcing solution is pretty much a slam dunk. This is especially true if you put direct as well as indirect spend through the solution.
Right at the end of 2014, I received a copy of report based on ThomasNet’s Industry Market Barometer (IMB) survey. As you might expect, given ThomasNet’s long-standing relationship with the manufacturing community, a large focus of the report was the recent trend towards reshoring. In some cases it is for the sake of moving final production closer to the source of demand, in others to shorten supply chains, trading cheap labor for reliability and agility.
This week’s webinar notes are from a December 10th webinar hosted by Directworks. The event will be available on demand in case you were unable to attend – we’ll add the link here once it becomes available.
The event took on an ambitious list of topics in quick dive rapid succession. In addition to Greg Anderson and Michael Cross of Directworks, the speakers included Spend Matters’ Pierre Mitchell, Steve Rogers of Havi Global Solutions, and – oh yes – yours truly.
Editor's Note: On May 1st, Buyers Meeting Point issued an Open Call for predictions about the future of procurement as part of the #FutreBuy project I am working on with Jon Hansen (Procurement Insights, PI Window on the World). We welcome all predictions, either as comments to our posts on the subject, guest submissions, or posts on Twitter flagged with our #FutureBuy hashtag.
This week’s webinar notes are from a December 11th event on direct materials sourcing presented by Directworks. The event replay and slides are available on demand here.
This week’s featured webinar was presented by Directworks, the new name for Co-eXprise, on the state of direct materials sourcing. If you have questions about the rebrand or the reasons behind it, you can read the press release here.
This event was conceived in response to Outsourcing Institute members who had concerns about political policy regarding outsourcing based on President Barack Obama’s 2012 State of the Union Address. One quote that was called out in the event overview was that it is time to "stop rewarding businesses for taking jobs out of the country and start rewarding them for bringing jobs back home." (Note: if you are interested in hearing the relevant portion of the State of the Union, listen to the Buyers Meeting Point Weekly Update for March 19th on Blog Talk Radio.)