Diversifying your spend and supplier portfolio can be financially sound strategy. It can be an impactful and strategic value-driver but it is often hard to speak to exactly why or what benefits an enterprise can take advantage of by purchasing in this way. We leaned on the experts at procurious to help us elaborate on this specific topic through a recent article they published.
How do you balance the demands and expectations of stakeholders in business? And how do you strike this balance while simultaneously growing and strengthening your brand? This is one of the biggest challenges companies face today.
"The grass is always greener on the other side." It turns out this common proverb even rings true in the debate over whether purchasing operations benefit from centralized versus decentralized management.
If your company isn’t set up to accommodate a centralized purchasing structure, you probably long for the leveraged pricing that your current decentralized approach may never achieve.
If your company has a centralized structure, you probably lament the compliance challenges you face. After all, you may have built relationships with local vendors and prefer to continue those over using a vendor that 'corporate' suggests.
In reality, both vantage points are correct: Both decentralized and centralized purchasing structures offer benefits and disadvantages. Here's why.
Maintaining relationships with multiple vendors can be tricky, especially when you have different vendors servicing different locations. There are several key benefits to consolidating your suppliers that will make purchasing less complex.
Network with your purchasing peers to uncover immediate, strategic returns and increased performance.
Procurement often finds that they are working in a silo, disconnected from their stakeholders and lacking prudent visibility into overall company goals. When the opportunity to connect with others in the purchasing world arises, procurement can learn tools and best practices that will help guide them out of their silo so they can operate more efficiently, spend more strategically, increase returns and perform at a higher level.
Learn how one Supply Chain Executive transformed his supply chain in less than a year; effectively securing and improving his company's competitive position through supply chain performance visibility.
OMNIA Partners, Private Sector celebrates International Women's Day 2019, annually recognized on March 8th! We asked a few of our esteemed female colleagues and supplier partners what it means to be a working woman in 2019. They shared empowering advice, thoughts, and motivations. Share YOUR advice with OMNIA Partners throughout the month of March with the hashtags: #BalanceforBetter and #OMNIAPartnersPrivate
How PepsiCo is edging out the competition by strategically developing programs, groups and a supply chain centered on women.
Women in the workforce are not only gaining ground in 'nontraditional' roles, but are also more educated - they are poised to extend their footprint across the entire U.S. Labor force. Understand the implications of the narrowing gender gap with these key statistics from the United States Department of Labor.