May 03, 2023 | Procurement Strategy
Among the 2023 ProcureCon CPO report’s findings – the growing importance of source-to-pay (S2P), 81% of survey respondents indicated that enhancing the speed and efficiency of S2P activities was a high priority over the next 12 months.
Reducing operational costs came in only slightly behind in importance at 71%.
May 03, 2023 | Procurement Strategy
Through the first few months of 2023, it is clearer than ever that the role of the CPO has changed since the start of the pandemic. With global supply chain disruptions, CPOs are playing a more prominent and strategic role in their organizations.
What’s on the CPO’s agenda for 2023?
How can organizations balance cost reduction, resiliency and sustainability all at the same time? This GEP-HBR paper examines strategies and technologies to help companies reinvent their supply chains and meet these goals.
April 25, 2023 | Supply Chain Strategy
Ocean freight rates have cooled substantially in 2023. Retailer stockpiling, which outpaced sales growth last year, resulted in reduced demand for new merchandise from overseas suppliers. Ocean carriers are now faced with excess capacity and are scrambling to sell space to big shippers, particularly out of Asia.
GEP's Tom Zielinski and Bharath Raghavan share insights into how the rest of 2023 will look for supply chain and procurement and what leaders must do to be proactive in facing the year's challenges.
April 20, 2023 | Supply Chain Strategy
Supply chain volatility is now at its lowest since mid-2020. Moreover, green shoots are showing as demand improves in the United States, the European Union, and especially Asia, according to the March indicators of the GEP Global Supply Chain Volatility Index.
April 19, 2023 | Pharma and Life Sciences
Pharmaceutical and life sciences supply chains are recovering from the disruptions of the last few years and producing groundbreaking innovation despite ongoing pressures.
Between macroeconomic factors such as inflation that are creating pricing pressures to an increased focus on ESG goals, supply chain and procurement teams are today expected to address traditional metrics such as cost savings and efficiency as well as be in line with emerging trends.
What are the top concerns emerging in pharma and life sciences and how are leading companies tackling them?
How supply chain leaders can become more competitive and resilient by adopting a digital-first model
April 05, 2023 | Supply Chain Strategy
Supply chain organizations know that the struggle is real when it comes to balancing inventory levels. Enterprises don't want to overstock and risk ending up with a warehouse full of useless items. At the same time, they also don't want to run out of stock and disappoint customers. In short, it's like trying to find the perfect balance between being a hoarder and a minimalist.
Fortunately, lean inventory management provides an effective solution to this problem.
An effective cost-management program can provide a powerful defense against economic and other uncertainties that continue to disrupt procurement’s mission. The challenge for many CPOs is balancing the demand for growth and innovation with the need for tactical cost reductions.
