Procurement teams that use the Internet to research highly engineered components and then select a lower-priced alternative product may think they’re doing a good job, especially if they are measured on how well they manage cost. Yet they may unknowingly be putting their companies at risk.Continue reading
The July ISM-New York Report on Business was released on August 4th at 9:45am Eastern and is available for download here 2020_ISM-New_York_July_ROB_v01.pdf. Please see the end of this commentary for additional information about the ISM-New York Report on Business.
Jack Welch once noted that the only two departments that drive revenue directly to the bottom line are sales and procurement. He noted that the other departments were basically overhead. I would also include supply chain professionals in this revenue generating group.
As we close out the end of July, webinars are just starting to post for August. If you look at all of this week’s webinars, there is a clear note of defiant optimism with the focus returning to supply resiliency, leadership, and automation over necessary but fatigued coverage of the pandemic. Next week also marks the release of the July ISM-New York Report on Business, so we’ll get another look at how the professional services economy is recovering from the various shutdowns.