Procurement is an ever-changing term that comes with a similarly fluid job description. Today, procurement involves the process of choosing vendors, establishing payment terms, vetting the vendors and negotiating contracts to purchase goods or services. Tomorrow, who knows what the definition of procurement could be? Organisations are using technology to procure more effectively than ever before and it is the job of the SME to find ways to streamline this process further. Price comparison websites (PCWs) are leading the charge in this new future and proving that procurement is still as valuable as it once was. Is procurement still valuable? In days gone by, procurement was done via a sales team, who a procurement team would negotiate with to find the best deal available. In this new era, however, the price comparison website is undercutting sales in finding the real best deals. In the managed print services industry, price comparison sites have revolutionised the way that … [Read more...] about How have price comparison websites impacted the supply chain?
Future supply chain share price
Building great business relationships not only improves productivity, the work itself also becomes more enjoyable when we have good relationships with those around us. As naturally sociable creatures, human beings crave positive interactions, meaning that when we have a good relationship with a colleague, they are more like to go along with changes we implement. These positive interactions also make us more innovative and creative in our roles. A healthy working relationship is one built on trust, mutual respect, mindfulness and communication. When we neglect one or more of these areas, the relationship can suffer. In process crucial areas of business, such as supply chain, good relationships are key to delivering to targets. Healthy relationships are not about being good mates with one's suppliers at the cost of good professional business practice, though. There are advantages of working with companies we like, such as reductions in costs that are often intangible. It can be hard … [Read more...] about SMMT Industry Forum: Managing supply chain relationships
Globalization and digitization are fully disrupting the supply chain industry, where connectivity and demands for rapid, efficient solutions are driving continuous change. From utilizing predictive analytics to unlock greater value from large volumes of data, to the implementation of automation, robotics, Internet of Things (IoT) and cloud computing, the industry is undergoing a seismic shift. In order to garner further insights in remaining agile and to guarantee customer trust, industry leaders have sought to reshape traditional supply chain models. Providing exceptional end-to-end solutions for original equipment manufacturers (OEMs) worldwide, Creation Technologies is no stranger in delivering bespoke solutions for those who in need of a responsive design and manufacturing partner. Amidst an evolving technology landscape, the company has partnered with more than 200 OEMs worldwide since its inception, accelerating time-to-market, reducing customer operating costs, while sharing … [Read more...] about Creation Technologies: collaboration across the digital supply chain
Viet Nam News Although it is not easy to participate in the supply chain of multinational corporations, Vietnamese enterprises are fully capable of supplying large companies. Châu Bá Long, General Director of Minh Nguyên Support Industry Joint Stock Company in HCM City, one of the few tier-1 suppliers of Samsung Việt Nam, talks about the experience of an enterprise operating in this field. Some have said Vietnamese firms can’t make simple components like screws when talking about Việt Nam’s support industry in recent years. Do you think this statement is still true? I don’t think so. There have been many Vietnamese suppliers of electronic components. For example, Samsung Việt Nam, which is not only a factory for assembling electronic components but also directly manufactures important electronic spare parts. Thanks to the direct production of key electronic components of smartphones such as 3D glasses, cameras, metal frames, … [Read more...] about Vietnamese firms have potential to join in global supply chain
With earth’s population set to exceed eight billion within the next five years, IBM has looked at five key technologies and how they will radically transform the food supply chain. IBM will present its 5 in 5 at a Science Slam held at the site of IBM’s biggest client event of the year: Think 2019 in San Francisco. The 5 in 5 research breaks down the complex global food supply chain, one that is already stressed by climate change and a finite water supply and how it will only be tested further. “To meet the demands of this crowded future, IBM researchers are exploring new technologies and devices, scientific breakthroughs, and entirely new ways of thinking about food safety and security,” says Arvind Krishna, SVP, Cloud & Cognitive Software. IBM’s 5 in 5 Digital twinning and data analytics “How do you give a farmer who has never set foot in a bank access to credit?” Through the digitisation and capture of all aspects of agriculture, … [Read more...] about IBM 5 in 5: Five key technologies set to disrupt the food supply chain