Oil and Gas companies operate in dynamic and complex environments, where they face constant challenges especially in terms of supply and demand. Now with the oil prices at historic lows, and with no signs of early recovery, the time has come to evaluate the supply chain and procurement techniques and costs. Continue reading “Best practices in oil and gas supply chain and procurement”
In Deloitte’s 2016 Global CPO Survey 2016 report, 74% of respondents stated cost reduction as their top priority in 2017. Also, 70% of the surveyed procurement executives cited indirect spend as a top focus for controlling and reducing costs.
Recent studies have found that indirect spend can account for up to 50% of a company’s purchases, and manufacturers specifically can spend 20% or more of their total revenue on indirect expenditures. It is clear the next profound impact area for procurement professionals is in accessing hidden and unexploited areas of indirect spend. Continue reading “New Ways to Achieve Unprecedented Savings on Indirect Spend”
The growth of Amazon has the potential to disrupt “middlemen,” particularly in the industrial space. Amazon Business now has 300,000 registered corporate buyers and recently surpassed $1 billion in sales. Stocks like W.W. Grainger and Fastenal could come under pressure from Amazon, analysts say. Before it was Amazon killing the retailers. Last week it was Amazon disrupting appliances. Now there’s a broader concern: Amazon has the potential to disrupt … Continue reading Amazon juggernaut sets its sights on its next victim: The middle-man