Cost

What Procurement Pros Need to Know About Trends in Marketing Spending for 2020

Posted: 11/20/2019 - 04:04
With the fourth quarter of 2019 now underway, many companies have already started developing their marketing plans for 2020. A major aspect of the planning process will be setting the overall marketing budget for next year and allocating the budget across marketing channels, tactics and other spending areas.
 
Ideally, marketing procurement professionals will be involved in the planning process and to participate effectively they will need to have a solid understanding of current marketing trends, including those relating to marketing spending.

Onshoring vs. Offshoring: 4 Indications the Tide is Turning in Manufacturing

Posted: 11/06/2019 - 07:18
Uncertainty over the future of the ongoing trade war between the U.S. and China continues to take its toll on supply chains worldwide. While some companies and manufacturers are setting their sights on alternative foreign factories, such as Vietnam and Thailand, others are looking to make parts closer to home. 
 

Software Surplus! Over-Subscription Could Be Costing Your Company Millions

Posted: 10/08/2019 - 02:11
Software Surplus! Over-Subscription Could Be Costing Your Company Millions
Sourcing professionals know that companies make significant investments in software to run and drive their businesses. They see first-hand how software subscription costs might run as high as hundreds of millions of dollars annually. Yes, the Office of the Chief Technology Officer and various business units collaborate to determine what software is needed, but typically it’s the procurement office that makes the purchase, and employees that use the software. Therein lies the problem.

The Shift to a Seller’s Market

Posted: 08/22/2019 - 06:49
Everyone is talking about change. Transformation. Millennials. Digital. Continuous Improvement. There are likely many more words that are tossed around to explain the change everyone is either experiencing or are being told we need to do. A lot of time and effort has been spent on transforming procurement – but what about the change occurring within your supply base? 
 

How Supplier Diversity is Working in the Real World

Posted: 07/10/2019 - 01:21
Supplier diversity has been an important topic on the corporate agenda for most of the past five decades. Formal supplier diversity programs began in the 1960s in response to government programs that were designed to expand economic opportunities for minority-owned businesses. Today, “diverse suppliers” encompass several additional types of business organizations, including:
 
  • Woman-owned business enterprises

Re-engineering a Corporate Real Estate Service Organization: Governance

Posted: 06/17/2019 - 04:27
Although these processes can take months – sometimes longer, the work does not end when the contract is signed or even when the services are successfully transitioned to the outsourced partner. You don’t simply hand over responsibility for the contracted services, schedule quarterly and annual updates and expect things to run smoothly.

Leaving Indirect Spend Unmanaged Means Dollars Left on the Table

Posted: 06/12/2019 - 01:35

For organizations looking to identify cost savings, increase profitability and get a leg up on the competition, indirect spend management is an ideal place to look. Often considered the backend of procurement – involving expenses like IT services and equipment, professional services, office supplies and HR services – indirect spend actually accounts for a significant portion of overall spend.

Four Common (But Often Overlooked) Outsourcing Costs

Posted: 01/24/2019 - 03:42
As the labor market continues to tighten, employers are challenged with finding resources for special projects and ongoing operations. As a result, many organizations turn to outsourcing to augment their staff, engage specialists or to completely offload non-core capabilities. While there is tremendous benefit to strategic outsourcing, organizations should be aware that there are often overlooked – or soft – costs behind those benefits.

Savings rationalization: What would you sacrifice to maximize savings?

Posted: 01/03/2019 - 02:14
As we move through the holiday season, competition of all sorts is becoming prevalent. Big department stores and smaller retail chains all have their special deals in place and offer a variety of products and solutions to meet spikes in customer demand while racking in the big dollars. They promote discounts and incentives on brand-name products while other shops offer a more generic version of the same items at less than half the price. Consumers are left with a big decision.

Artificial Intelligence: Adopt or Surrender

Posted: 01/02/2019 - 02:53
Like it or not, technology disruptors are changing the way companies do business, causing fear and confusion for many IT professionals. The reality is that artificial intelligence (AI) and machine learning (ML) are developing at such a rapid pace that they impact pretty much every industry and companies are failing to keep up. The other technology disruptors that most people are familiar with include the Internet of Things (IOT), cloud computing, social media and block chain.
 

Changes to Salaried Employees in New York and California

Posted: 12/19/2018 - 02:08
In 2017, the Department of Labor (DOL) scrapped U.S.-wide plans to increase the salary threshold for exempt employees following challenges from multiple states. The DOL has continued to postpone these plans, however, the states of California and New York have elected to raise their own exempt salary threshold for 2019, which means that some of your workers may be eligible for overtime pay. 
 
The changes, which go into effect on December 31, 2018, in New York and on January 1, 2019, in California, are as follows: 
 

(Outsourcing) Location, Location, Location: Why it Should Factor Into Your Decision-Making Process

Posted: 12/05/2018 - 03:32
Outsourcing has become synonymous with cheap services offered by another country. Lower costs are on everyone’s mind when outsourcing is mentioned, especially in the IT world, where it can make a substantial difference. However, it’s not just about saving a buck. Outsourcing can also help companies find the right talent (and enough of it), reduce overhead and in the end, yes, reduce costs.

Pages

Subscribe to RSS - Cost