The typical procurement organization invests heavily in supplier compliance but rarely reaps the value rewards. Compliance can often feel like a revolving door, with procurement teams evaluating the same risks and under-performing suppliers over and over again and never identifying the root causes or making real progress toward sustainability. Eventually, after a multi-year investment into a responsible sourcing program, procurement finds itself past the point of diminishing returns.
With three different buying groups and their separate inventory systems, the Neiman Marcus Group was missing opportunities to offer its patrons a seamless shopping experience with a full line of merchandise.
With supply chain collaboration becoming a hot topic for even the most independent, self-sufficient organizations, it's no wonder that more attention is being paid to the relationships between distributors and their suppliers.
The corporate payments world has experienced a significant evolution over the past decade. This now allows procurement to be a key contributor of top line revenue growth as well as traditional bottom line savings.
Maker's Row, provider of a service that enables brands to locate manufacturers for the creation of products in the U.S., has launched a "Made in America" online store.