CHANGING TIMES FOR SOURCING AND PROCUREMENT

In assessing today's supply chain management industry and, in particular, developments around sourcing and procurement, the author cannot help but be drawn to the words of musician and poet, Bob Dylan, when he said that "the times they are a-changin'." For practitioners and anyon...

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Bibliographic Details
Published in:Supply Chain Europe 2011-07, Vol.20 (4), p.22
Main Author: Vaughan, Kevin
Format: Article
Language:English
Subjects:
Brand loyalty
Carbon footprint
Collaboration
Compliance
Consumers
Cost control
Environmental impact
Freight forwarding
Government purchasing
Packaged goods
Purchasing
Sourcing
Suppliers
Supply chain management
Sustainable development
Tax rates
Trends
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Summary:In assessing today's supply chain management industry and, in particular, developments around sourcing and procurement, the author cannot help but be drawn to the words of musician and poet, Bob Dylan, when he said that "the times they are a-changin'." For practitioners and anyone else touched by the supply chain management industry there is no doubt that, yet again, they are living through a period of significant change and turmoil. Procuring materials used to be about finding the right suppliers, checking quality pricing and service, and shipping in large quantities from 'low cost countries.' The volatility of commodity prices, exchange rates and oil, in particular, makes supply chain planning far more unpredictable and susceptible to higher levels of risk. Coupled with massive shifts in consumer demands, forecasting is becoming increasingly more difficult. Locating the right suppliers and finding the most efficient means of communicating with them is a critical function of any procurement operation.
ISSN:1742-447X