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Image via Flickr by New York District, U.S. Army Corps of Engineers For years, cost savings has dominated the minds and activities of procurement professionals. State of Flux issues studies and reports on trends in the procurement industry. Cost savings consistently reigns in terms of importance. However, for the first time ever, this study revealed that risk…
Image via Flickr by Carl Wycoff Fifteen years ago, the U.S. banned imports of beef from Ireland because of mad cow disease. Now, the ban is being lifted. This will boost the euro beef industry by millions of dollars, particularly in Ireland. The U.S. Department of Agriculture has performed strict inspections at beef production facilities in…
Image via Flickr aushiker In 2015, ocean cargo rates for contracts on major East-West routes saw a sharp decline. As a result, carrier profits have been suffering. Contract rates have fallen because of lower fuel costs, more carrier competition, and surplus vessel capacity. Take a look at what this means for the transportation industry now…
Image via Flickr by Thomas Good Supply chains are an integral part of any business. They harness what the product is as well as the company’s vision while adhering to the demands of the consumers and business partners. There are, however, risks associated with a supply chain, especially if the supply chain is global.Oops! You don’t have…
Image via Flickr by Marcin Wichary While a company is small, procurement is simple. As the organization grows, however, the process gets muddled and becomes less efficient. For example, the federal government has grown to the point of inefficiency at which it spends $800 per American per year on goods and services! If your procurement…
Image via Flickr by Invernesstrucker Perishables cause a headache for supply chains because of the need for refrigeration. However, consumers want fresh foods and companies must learn how to deliver with a cold chain to stay competitive. Let’s take a look at the delicate balance companies must achieve between costs, regulations, and speed.Oops! You don’t…