Hurricane season is in full effect now until the end of November. Hurricanes are a serious threat to people and property as we have seen the recent damage Hurricane Michael has caused in the United States. It is vital to prepare for the weather, but more importantly is your facility ready to respond and recover? Here are some tips from Grainger to make sure you are ready when disaster strikes.
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Does it sometimes feel as if you’re paying your language service providers (LSPs) way too much for localization projects? There’s a chance you are. But how? And why? We know getting a handle on localization costs can be tricky. Here are five of the most common costly mistakes companies make and how you can avoid them.
“Rather than thinking you’re right, ask yourself, how do you know you’re right?” These are the sentiments of Ray Dalio, founder of Bridgewater Associates, the largest hedge fund in the world, during his recent TED Talk on enhancing decision making. Dalio believes that one of the greatest tragedies of mankind is that people arrogantly and naively hold onto opinions that are incorrect, and act on those views without any verification process.
The rising cost of healthcare is putting a tight squeeze on businesses across the country. With the prices of doctor visits, procedures, prescriptions and overall care unlikely to come down anytime soon, it’s up to the individual companies to take measures to preserve their earnings. One way many businesses are doing this is by offering employee wellness programs. Wellness programs enhance physical and psychological health for employees which in turn, pays dividends back to the company. The better an employee feels, the more productive they will be. Better yet, the healthier a worker is, the less he or she will require medical care. And the less healthcare incidences employees have, the less premiums will rise from year to year.
Businesses across the country are changing the way they think about healthcare coverage and employee engagement. The current and outdated system has been in place for 30 years and is responsible for the cost of healthcare rising so high, that it severely cuts into employee paychecks and employer profits.
This is a six-part series unpacking the stages of true strategic sourcing.
The means to achieving success in the procurement world have drastically evolved over the years and now hinge on one’s ability to strategically source. Modern businesses demand optimal supply options for the best attainable value from a holistic standpoint. Merely analyzing price or top level attributes is no longer enough to separate from the competition.
Scratching your head about how to improve your interdepartmental relationships? We went straight to the source.
There are an infinite number of ways to attack a problem. Granted, some techniques are significantly better than others -- rebooting your frozen computer is probably a better idea than a series of right-handed jabs to the screen, though both are technically attempts at solving the issue. That said, the solutions we come up with will inevitably always be drawn from our experiences and what we think we know. So the true challenge is to tap into the depths of our brains to pull out the best of what’s floating around in there.
As the role of purchasing continues to expand and as time becomes more scarce, it’s good to know that help is on the way. Though artificial intelligence isn’t “help” in the traditional sense, its capabilities for strengthening procurement aren’t either. The benefits of AI are much more significant. And if your firm delays in embracing AI, it will be giving the competition who makes it a priority a leg-up. Any company looking to perform true strategic sourcing will need AI’s assistance in tackling the challenging and nuanced task.
