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Image via Flickr by GovernmentZA There are tons of terms related to procurement, many of which are so commonplace or self-explanatory most people don’t need a glossary to understand them. Here is a list of key procurement terms, especially acronyms, that can be confusing without a definition.Oops! You don’t have permission to view this page!…
Image via Flickr by zackzen Every day the Baltic Exchange in London releases the Baltic Dry Index, which tracks the prices of shipping bulk freight. This week, prices are up 14 percent over last week, and have reached the highest level of the current year. Though most company representatives only agreed to speak with reporters…
Image via Flickr by flazingo_photos In recent news, Russia and China have been working together on several trade agreements. They currently have a gas deal and an agricultural deal in the works, as well as credit agreements. Some people argue this could hurt the world’s economy, particularly the U.S. dollar. China and Russia are definitely…
Image via Flickr by Ding Yuin Shan When operational dysfunctions occur, the source of the problem is usually linked to the supply chain. Effective supply chain systems integrate seamlessly into a company’s operations and need a great deal of teamwork for success. A dysfunctional supply chain can drag a business under very quickly. Here are…
Image via Flickr Michel Curi The trucking industry is crucial to the success of the American economy. Shipping by truck is typically less expensive than air freight. In addition, trucks can reach more locations than container ships, rail cars, and other types of transportation. That’s why it’s not surprising that the freight truck industry is…
Image via Flickr by Mark Hillary Outsourcing the production of goods is not a new thing. Companies know they can manufacture most products for cheaper overseas and still charge consumers high prices. Consumers don’t blink an eye because it is a common business practice that they’ve come to accept. Outsourcing is a business decision —…