Diversifying your supplier base is a strategic approach to mitigate these risks and ensure operational resilience.
Top Procurement Strategies for OEMs and Contract Manufacturers
In the fast-paced world of manufacturing, procurement isn’t just about buying parts—it’s a strategic powerhouse that drives efficiency, innovation, and resilience.
Using Prequalification and Scorecards to Improve Subcontractor Performance
To mitigate risks and elevate outcomes, businesses can leverage prequalification processes and performance scorecards.
Supplier Risk Management: Identifying and Mitigating Key Threats
Businesses rely heavily on suppliers for goods, services, and operational continuity, but disruptions or failures in the supply chain can have cascading effects.
Managing Domestic and International Wood Suppliers Through Vendor Portals
Whether you’re sourcing lumber for construction, furniture, or pulp production, managing both domestic and international suppliers presents unique challenges and opportunities.
How Procurement Fuels Innovation Through Strategic Supplier Partnerships
While many associate innovation with R&D labs or tech startups, one often-overlooked driver of innovation lies within an organization’s procurement function.
How Procurement Tools Help Manage Custom Orders and Material Variability
Custom orders—tailored purchases that deviate from standard catalogs—require precise coordination to meet unique specifications, while material variability, such as fluctuations in quality, availability, or pricing of raw materials, can disrupt supply chains and inflate costs.
How Digital Procurement Tools Support Custom and Made-to-Order Furniture Operations
Manufacturers and designers deal with fluctuating material demands, specialized suppliers, tight timelines, and the constant need for precision.
Using Role-Based Access Controls in Requisition Software: Why It’s Critical
From submitting purchase requests to approving budgets and tracking orders, these platforms streamline operations and help organizations control spending.
How to Manage Inventory of Long-Lead or High-Cost Equipment Components
Long-lead components, which can take weeks, months, or even over a year to procure (think specialized PC boards or custom metal parts), and high-cost equipment components, which tie up significant capital, present unique challenges.