June 04, 2024 | Procurement Strategy
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
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
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.
Global technology company adopts GEP NEXXE supply chain platform’s buy-sell solution to optimize inventory without increasing supply risk and to improve cash flow.
May 14, 2024 | Accounts Payable
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
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
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
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.
April 10, 2024 | Risk Management
The massive earthquake in Taiwan on April 3 has created worries over the disruption to the semiconductor supply chain as the island nation is the world’s biggest chips supplier.
Some of the top global chipmakers, such as Taiwan Semiconductor Manufacturing Co. (TSMC), which supplies chips to Apple and Nvidia, had to shut down their fabrication plants and evacuate workers when the 7.2 magnitude earthquake struck the eastern coast of the island.
Chipmakers UMC, Vanguard International Semiconductor and Powerchip Semiconductor Manufacturing also operate from Taiwan.
April 02, 2024 | Supply Chain Software
How much inventory is too much or too little?
This is perhaps the biggest concern for businesses today.
Yet, there doesn’t seem to be a clear answer.
Nonetheless, all businesses, big or small, must get this aspect of supply chain operations right, especially as the larger economic environment continues to be uncertain.
The key objective in this process is to ensure that products are in stock at the right time and at the right cost.
