In this issue, delve into the future of supply management with the cover article, “Fulfilling Future Needs,” about emerging roles and the skills that will be needed to perform them. Additionally, read how universities are preparing supply management students through how and what they teach, and how the “America’s Supply Chains” executive order could lead to structural changes in sourcing. Also, learn how early procurement involvement and a change-management approach have made a difference at Sandia National Laboratories.
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Most companies have to keep excess inventory as a buffer against the ebbs and flows of consumer demand and supplier delivery times, two of the most variable dynamics in business, even under normal conditions. And that’s where this month’s metric comes in.
As the coronavirus (COVID-19) pandemic loosens its grip and many women prepare to go back to work and resume careers, some of the greatest opportunities might be found in industries traditionally dominated by a predominantly male labor pool. These include trucking, transportation, automotive and aerospace.
Supplier diversity programs depend on an internal partnership with the procurement function, a relationship that is based on knowledge and shared goals. Procurement teams and supplier diversity programs, by becoming collaborators, forge a culture of supplier inclusion.
Commodity prices are increasing across categories and industries. There are inflationary signals across the economy, and the list of potential drivers is long. Several factors are creating inflationary pressure.
As supply management roles evolve and become more strategic, such skills as collaboration, communication, analytics capabilities and business acumen are necessary to increase the function’s value and impact.
President Biden’s directive to review supply chain risks and industrial bases is designed to address vulnerabilities decades in the making — and could lead to structural changes that end the ‘good run’ of lowest-cost sourcing.
In preparing students for post-pandemic workplaces, university supply management programs, like the profession as a whole, must contend with disruptions like COVID-19 and address the need for new skills, agility and technologies.
Collaboration between project and contract managers can lead to efficiencies and opportunities, but Sandia National Laboratories has found that early procurement involvement and a change-management approach are critical.
Laura Lovato, MBA, CFCM, CPCM, PMP, Nando Betancur, MBA, CPSD, James Burt, MBA, CPSM, CPSD, PMP
The shortage issue’s roots extend to long-standing just-in-time (JIT) manufacturing models, as well as the increasingly greater use of connected devices, products and components dependent on chips and integrated circuits.
Cash flow from operations (CFFO) is a measurement that has increased in importance at many procurement organizations, due in part by the coronavirus (COVID-19). As the pandemic restricted businesses and slowed supply chains, cash flow became a critical issue for many companies — and especially suppliers.
Strategic management of a five-element framework can help the function, already a critical business partner, become even more valuable — just when it’s needed the most.
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