As the prices of most commodities declined, 2024 was largely favorable for buyers, with the exception of agricultural products. This report provides both an analysis of global commodity price trends (...
In today’s business environment, sustainability objectives are increasing as focal points for many companies. A key component of this is understanding the concept of a company’s carbon footprint and t...
In January, my article “Chemical & Plastics Prices – 2023 & Outlook” expressed the view that chemicals and plastics prices would decrease this year. Six months later, it looks like I was right...
2023 was a very good year for purchasing, where most products showed price decreases. This is in contrast to 2022, which was one of worst years for purchasing over the last 16 years. In August of last...
In January of this year my article, Chemical Prices Through Pandemic and War, published by Buyers Meeting Point, provided price analyses from 2019 to 2022. The article also predicted, based on third-p...
Chemical & Polymer (C&P) prices are volatile due to supply/demand balance and feedstock prices like Crude Oil and Natural Gas, and, most certainly, specific events like the pandemic and geopol...
Editor's note: In July of 2022, Wen Xie, a Patent Attorney, joined me for an episode of Dial P for Procurement that considered whether the World Trade Organization's decision to waive COVID-19 patents...
It has become increasingly common to hear about technological disruptions. Every day there is a new tool, software, methodology or someone trying to do something different. And this is excellent! Tech...
When SMBs launch, they tend to have informal procurement processes. This informality might work with four to five employees and a handful of customers, but it simply isn’t practical for a growing busi...
What is procurement data? Procurement data includes vendor data, master data, contract data, bills of material, performance data, sustainability score cards, transaction data, purchase order details, ...
Data democratization is making digital information accessible to wider audience so that the data is available, accessible, and understandable. Democratized data is accessible in a timely manner and un...
Procurement organizations employ spend analytics as one of their major tools for proactively identifying savings possibilities, managing risks, and maximizing their purchasing power. Spend analys...
The Chemical industry has two unique characteristics. It has the most diversified end-use markets across all manufacturing industries, and its biggest customer is the Chemical industry itself (27%). S...
Procurement is a significant business function, having operational and commercial impacts on multiple departments. Although procurement process excellence and strategic sourcing initiatives can drive ...
Author: Joe Payne, SVP Source-to-Pay at Corcentric Editor’s note: This article is part of the MyPurchasingCenter content archive. It was originally published in 2015 and appears here with minor t...
Companies spend millions developing and implementing new technology and processes to enable more effective MRO supply chain management practices. The goal is to better manage the flow of spare parts w...
The year 2020 witnessed a global Covid pandemic and the biggest GDP reduction since the Great Depression of 1929. Of course, Chemicals & Plastics (C&P) have also been affected globally, but there is no public data available yet for the year.
Today, most supply chain and procurement software solutions rely on value added resellers as part of their go to market strategy. ‘Resellers.’ as the name suggests, act as the sales, solutioning, impl...
One of the aspects of ever-growing experience is the sorrow of knowledge. In times of economic turbulence, procurement could be dragged into a cycle of faulty practices that starts well before the cri...
My first recommendation on Emotional Intelligence is for procurement and supply chain professionals to benchmark their own personal emotional intelligence aptitude. I used the book Emotional Intellige...