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”
A company that fails to manage its supply chain at a strategic level is unlikely to meet its business objectives effectively. (Chris Freeman-CEO of Logic).
I must, first of all, give glory to God almighty that make me a procurement and supply chain management professional. Why is professionalization of procurement and supply chain management so important that makes me put up this piece of write up? Continue reading “Opinion- Procurement: A catalyst to economy and Infrastructural development”
It’s no secret. Organizations are losing millions due to cost volatility, supply disruption and non-compliance fines. An ever-increasing pace of business and rising levels of uncertainty within our global economy have brought about an alarming amount of potential pitfalls for procurement leaders. This means risk management has become Continue reading “The Procurement Process and Contract Management: The Key to Managing Risk”
Looking for a common thread between supply chains and procurement operations today can be challenging: As companies’ efforts reach global scale and incorporate complicated relationships between third parties, each one takes on its own unique characteristics. However, sourcing professionals must identify the hallmarks of success in the field if they want to ensure their own organizations end up on the right path. Continue reading “Tech Upgrades Delivering Procurement Efficiency Boosts”
The facilities management (FM) industry has transformed in the past decades, from being a peripheral building management service to now being viewed as a serious discipline and business enabler. Facilities management today is a key function in managing facility resources, support services, and working environment, to achieve Continue reading “Facilities Management: The magic key to boosting business productivity”
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
According to a new procurement study by global consulting firm Protiviti, nearly half of finance leaders claim that 20 percent or less of procurement savings wind up dropping to their companies’ bottom line. Amid a business environment where monetary returns, business value and financial risk are under intense scrutiny, the survey report highlights a clear disconnect between corporate finance and procurement in the perceived value contributed by the procurement function to an organisation’s profitability.
Continue reading “Protiviti Study Contains New Findings on Value of Procurement”
Editor’s note: This is the final post in a three-part series on digital disruption from a procurement professional’s perspective.
Unintended consequences are mostly thought of negatively, but sometimes unexpected things open the door of opportunity. When you undertake a digital project, you often are dealing with the new and untried — and the chance of some pleasant unintended consequences. That’s when things get fun.