Analyst Insight: Successful supplier payment term extensions only happen when procurement receives the right training and ongoing support. Before companies implement an extension with suppliers, they must first understand the traits (and barriers) to success. Procurement should be viewed as a strategic lever to improving working capital and given a seat at the table during the selection and implementation process. This will pave the path to a successful supply-chain finance program and optimized cash flow. - Tom Roberts, senior vice president of global marketing, PrimeRevenue
Thanks to the farm-to-table movement and the work of a generation of chefs, cooks, farmers and other producers, we've opened the window to the source of much of our food. We often know the farm where the turnips and lettuces on our plate come from, the fields where the cows or sheep grazed, even the names of the chickens that laid our eggs. But this kind of traceability has been very slow to come to the seafood industry, which is notorious for being secretive and often fraudulent. A small group of fishermen and chefs has been working to fix this through their Dock to Dish program, adopting the methods and principles of the land movement and CSAs, or Community Supported Agriculture, to bring that kind of transparency to the sea.
In 2008, PayPal co-founder Peter Thiel gave half a million dollars to a Google engineer named Patri Friedman, the grandson of economist Milton Friedman. The money was to establish the Seasteading Institute, which aims to spearhead the development of politically autonomous, floating "seasteads" in unregulated international waters. This was to be the beginning of a long experiment in civilization building. It also turned out to be the origin of many, many puns.
Analyst Insight: There are many approaches to predicting the supply chain of 2020 and beyond. What trends and emerging technologies will have the most impact, and in what way? This paper examines the future of S&OP based on the premise that Best-in-Class companies (top 20 percent of companies based on performance) are good indicators for the next five to 15 years of change based on their capabilities, technology adoption, and strategic actions. – Bryan Ball, vice president and group director, Aberdeen
Tesco has set up a hotline for suppliers to contact it directly about food waste. Suppliers and growers who call the line will be connected directly to the retailer's product teams so they can be alerted to waste in the supply chain.
Analyst Insight: Global trade compliance remains a topic that most C-level executives successfully ignore. This should not be regarded as an accomplishment but as a serious corporate deficiency that will affect a company's bottom line and its ability to compete on a global basis. Ignorance of global trade compliance is no longer an option. – Beth Pride, president, BPE Global
Frank Yiannas has spent years looking in vain for a better way to track lettuce, steaks and snack cakes from farm and factory to the shelves of Walmart, where he is the vice president for food safety. When the company dealt with salmonella outbreaks, it often took weeks to trace where the bad ingredients came from.
Analyst Insight: Developing supply-chain strategy as a process versus a project has become critical to make necessary strategic decisions in today's dynamically changing e-commerce environment. As digital disruptions continue to evolve in the marketplace, leadership faces numerous challenging decisions to maintain and/or improve market share. Agility and creative thinking is required for you and your supply-chain evolution. – Dale Pickett, director, Tompkins International