February 07, 2025 | Supply Chain Strategy
With the Donald Trump administration in the U.S. imposing tariffs on imports from China, Mexico and Canada, companies across the globe are preparing for tariff wars and input cost escalations while also looking for cost-mitigation strategies.
These new tariffs are expected to increase costs for raw materials and components, compelling businesses to reassess sourcing and production strategies. Industries such as automotive, clean energy, and consumer goods are particularly vulnerable, facing potential disruptions and higher expenses.
February 05, 2025 | Procurement Strategy
Electrical machinery and equipment made up 14.6% of total U.S. imports in 2023, amounting to $463 billion —much of it essential for the nation’s power infrastructure. But with new tariffs looming on key suppliers like China, Mexico, and Canada, the energy sector now faces the risk of severe supply chain disruptions.
February 05, 2025 | Procurement Strategy
Educational institutions today face a wide range of challenges, from uneven enrollment dynamics and rising competition to margin pressures and flat public funding.
January 31, 2025 | Procurement Strategy
Procurement and legal teams are known to collaborate on key business processes in most organizations. But this relationship tends to become strained when dealing with legal service expenditures. Legal teams tend to focus on securing expertise and ensuring top-quality outcomes; on the other hand, procurement tends to emphasize cost-efficiency. This difference can create tension and missed opportunities for synergy.
January 27, 2025 | Procurement Strategy
Procurement value proposition represents the complete package of benefits that a solid procurement function delivers to an organization — from cost savings and risk mitigation to innovation and sustainable practices.
At its core, the procurement value proposition answers a fundamental question: "What tangible and intangible value does procurement bring to the organization?" This covers everything from direct financial impacts like cost reduction and working capital optimization to broader strategic benefits such as supplier-driven innovation and competitive advantage.
January 24, 2025 | Risk Management
The Southern California wildfires have become a recurring and devastating phenomenon with significant impact on the region's environment, economy and communities over the years.
These calamities have been further aggravated by climate change and urban development encroaching on natural landscapes. Wildfires not only put lives and property at risk but also lead to extreme air quality issues, ecological damage, and the resulting long-term risk for health.
January 23, 2025 | Procurement Strategy
A robust procurement sourcing strategy in today's volatile market is essential. Beyond simply finding the cheapest vendor, it’s about maximizing value and minimizing risks through long-term vendor partnerships. Taking a strategic approach to sourcing means considering factors like quality, reputation and stability alongside cost, leading to a more holistic evaluation of vendor relationships.
Having the right procurement sourcing strategy offers several advantages:
January 22, 2025 | Cost Management
The IT sector has struggled in recent years. But where do IT companies continue to spend a significant portion of their revenue? More importantly, how can they cut down on this spend while maintaining a competitive edge at the same time?
In the IT sector, the selling, general and administrative (SG&A) expenses – indirect costs – account for 10% to 25% of total revenue. Often, marketing accounts for up to 50% of these expenses.
Eighty percent* of organizations see AI as the secret to smarter procurement, sharper risk management and long-term value. Yet, most still struggle with data and AI adoption.
From predicting demand to automating contract compliance and mitigating supply chain risks in real time, AI can help build a more effective and efficient procurement function.
The latest tariff proposals are set to reshape energy supply chains, putting utility leaders in a tough spot. With costs rising up to 25% and lead times extending to four years, staying competitive means taking action now.
How can utilities stay ahead in this turbulent landscape?
Read our latest white paper to fully understand how companies can manage their supply chain risks amidst changing trade policies.
What’s Inside:
