As a supplier, you're constantly looking for ways to reduce costs in the payment cycle. While many suppliers think that corporate cards result in higher costs to them, in reality, card acceptance can actually positively impact the bottom line through a combination of cost savings, reduced bad debts and increased revenue.
IBM's Watson, the computational genius that has bested "Jeopardy" champions, published a cookbook and even been unleashed in the fight against cancer, now has what is perhaps its greatest challenge: taking on the federal procurement morass.
Analyst Insight: By 2025, issues such as globalization, social transparency, risk management and sustainability will bring new challenges to all the best procurement organizations around the world. For diverse suppliers, these changes will pose new challenges, while bringing new opportunities for those with a vision for the future. - Angie Li, Partner; Curtis Simpson, Manager; Kirsty A. McNally, Manager, all with Advisory Services of Ernst & Young LLP
After years of historically low interest rates, the Federal Reserve has started to execute on its strategy to raise rates. As a result, procurement teams will need to scrub their policies and plans to find interest rate sensitivities in a way they haven't in almost a decade.
These days, sourcing has become a common discipline in supply chain and transportation management. There is an organizational expectation that transportation modes will be sourced and cost will be taken out of the network with some regularity. However, meeting these expectations while maintaining service year-over-year has become more challenging.