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The Laws of Supply and Demand Meat at Tyson Foods

Art of Procurement

The post The Laws of Supply and Demand Meat at Tyson Foods appeared first on Art of Procurement. In his book, An Inquiry into the Nature and Causes of the Wealth of Nations, Scottish Enlightenment thinker Adam Smith.

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Friends not Foes, Supplier Relationships Made to Last

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A company’s supply chain is a key source of competitive advantage and Supply Chain Management (SCM) is designed to allow a company to monitor its suppliers and utilize the available resources to improve performance. Let’s address why having the right supplier information and supplier relationships is a must. .

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How Procurement can help to drive Supplier-led innovation

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In today’s competitive business landscape, consumers demand a continuous cycle of new products and services, and the gap between each launch is shrinking. As a result, the role of the supplier has grown in importance – for example, much of the innovation in the aerospace market comes from suppliers rather than traditional aerospace firms.

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Three ways supplier collaboration creates real value for manufacturers

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The term “supplier collaboration” can mean many things to many people depending on your functional perspective. Let’s examine three ways that better collaboration with supply partners creates value for a manufacturer from product design through demand planning. Innovating.

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Triggering results with better supplier information

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In my last blog post , I talked about how the need for better supplier information was a dominant theme across the automotive industry, as well as for many other discrete manufacturers. The impact suppliers have on the products you make and sell, good and bad, is just too significant to be ignored. Here are three examples.

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Will 2021 be about Cost Reduction or Strategic Supplier Relationships?

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PWC has been publishing the annual procurement survey since 2015, capturing many of the trends in procurement that we now see in organisations, such as the focus on supplier risk management. There seems to be a drive within procurement teams to understand their suppliers and the network of suppliers under their tier one suppliers.

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Collaboration will drive future sourcing and supplier management success

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Historically, if you asked sourcing leaders to name the one competency they felt they needed their procurement and sourcing teams to master in order to achieve ongoing sourcing and supplier management success, most would likely have said negotiation skills. But collaboration is not reserved for suppliers.