August 27, 2024 | Supply Chain Strategy read
Successful product development and manufacturing often hinge on strong partnerships. For procurement and supply chain teams, enabling strong collaboration with the right contract manufacturer (CM) can be a game-changer in accelerating innovation and time-to-market while optimizing costs.
However, getting to effective collaboration with your contract manufacturer is fraught with challenges.
This article delves into the importance of collaboration, the obstacles to it, and strategic approaches to overcome them.
August 02, 2024 | Supply Chain Strategy read
Organizations are moving toward widespread adoption of AI and data analytics in their supply chain, according to latest Economist Impact report on next-gen supply chains.
The survey-based report, sponsored by GEP, provides insights into the strategic plans of procurement and supply chain executives to leverage technology for operational improvement.
June 04, 2024 | Procurement Strategy read
By Vengat Narayanasamy
Tariffs and disputes continue to bring turbulence to global trade. Now, the aluminum industry faces new tariffs.
The United States government has proposed tariffs on aluminum products under sections 301 and 232 of two trade laws.
Section 301 of the Trade Act of 1974 grants the U.S. Trade Representative (USTR) authority to act against unfair trade practices by foreign governments while Section 232 of the Trade Expansion Act of 1962 allows the U.S. President to impose tariffs on imports deemed to threaten national security.
June 03, 2024 | Supply Chain Software read
When a company’s warehousing is not automated, it faces a litany of inefficiencies that impact everyday operations. Manual operations mean the warehouse processes are prone to errors, such as items being placed in the wrong location or orders being picked for the wrong customer.
Those errors result in lost sales, upset customers and high return rates.
May 29, 2024 | Supply Chain Strategy read
In today's hyper-connected world, managing a complex supply chain is more challenging than ever. As supply chain managers have already witnessed this year, disruptions -- from the Baltimore port closure to attacks on ships in the Red Sea -- can ripple through your operations at any moment.
From natural disasters to geopolitical conflicts, disruptions and risks are ever-present. Having the best possible visibility and control over your extended supply chain has become essential.
This is where supply chain business networks come into play.
May 14, 2024 | Accounts Payable read
Not so long ago, the mere mention of the word ‘audit’ would instill a strange fear or uneasiness among finance professionals. They would devote several hours to checking their financial records and preparing for cross-questioning by the auditor.
Despite all this preparation, the team often wasn’t fully confident about the accuracy of the records. And the possibility of auditors identifying errors remained high along with poor communication and lack of visibility into the process.
May 13, 2024 | Procurement Software read
Clinical trials are the backbone of innovation in the pharmaceutical and biotechnology sectors. The global market for these essential activities is expected to exceed $78 billion by 2030.
While the COVID-19 pandemic underscored the urgent need for accelerated development in this field, significant barriers hinder progress. These include inefficient governance, inconsistent contracting practices, prolonged approval times and inadequate technological integration.
April 26, 2024 | Supply Chain Strategy read
Global transportation costs have slipped to their lowest level since December 2023 as the diminishing impact of the Suez Canal disruption brought down container rates.
Data from the GEP Global Supply Chain Volatility Index for March 2024 showed no discernable impact to the world’s supplies from either the Red Sea attacks or from reduced capacity on the Panama Canal or even the Baltimore port closure, as businesses adjusted to longer delivery schedules.
April 19, 2024 | Risk Management read
Supply chain strategic planning is critical for aligning operations with business objectives and ensuring efficient flow of goods and services. It’s especially important when you consider that 75% of supply chain leaders, according to Gartner, expect an increase in high-impact disruptions around risk management, future of work and digital transformation.
