As seen in Forbes. Companies are looking into frontier technologies like AI, ML and IoT technology solutions to re-energize their supply chain efforts. Industry insiders are hoping that ‘digital twins’ might play a part in this balancing act. ‘Digital Twins’…
Photo By kitthanes In light of recent events, it seems as though procurement teams across the globe can’t catch a break. The aftershocks caused by the Covid-19 pandemic, geopolitical instability as the result of the Russia-Ukraine war, and the constant…
Photo By Blue Planet Studio Managing your spare parts inventory can make or break an MRO strategy. Companies should have consistent insight into maintenance, repairs, and operations (MRO) inventory needs and existing stock levels to help forecast upstream needs and…
Photo By sittinan In a nutshell, MRO inventory management is the delicate balance between having enough stock to remain well equipped without overspending on inventory items that may remain unused. Incorporating effective inventory management methods and procurement management strategies can…
As seen in Forbes Due to a relatively rapid shift in supply chains and related conditions, buying and selling critical materials isn’t as easy as it used to be for businesses. In response, resident procurement teams and suppliers are going…
In the past, organizations primarily focused on optimizing direct spend because of its close relationship to a product or service’s profit margin. Today, however, indirect spend is gaining more attention than ever before. Recent disruptive events such as the Covid-19…
A prominent trend in manufacturing and supply chain management technology is one revolving around the implementation of a digital supply chain twin. The leading analyst firm, Gartner, describes a digital supply chain twin as “a digital representation of the physical…
Photo By totojang1977 The global marketplace is a fast-moving and competitive landscape. And for manufacturers, maintenance, repairs, and operations (MRO) can make-or-break operations, especially if mismanagement occurs and leads to unplanned downtime. Traditional MRO strategies simply don’t cut it in…
Photo By ARMMYPICCA MRO inventory procurement is a tricky business. It’s a balancing act between what we can predict, and predicting the unpredictable. From sourcing the lowest cost materials and spare parts to finding ways to build an MRO supply…
Photo By Art_Photo Companies have long prioritized optimizing direct materials spending over indirect spending such as MRO inventory in order to focus more on business growth. However, dynamic changes in the global market demand a closer look at procurement strategies.…
