Organizations use forecasting methods of production and operations management to implement production strategies. Forecasting involves using several different methods of estimating to determine ...

Managers use different forecast methods to inform and support their decisions. A small business owner can use sales forecasts to determine if he should hire new employees, while the chief executive of ...

Did you know that efficient procurement practices can add to your organization’s competitive advantage? Before I explain how, I want to start out by talking about Porter’s Five Forces of Competitive ...

Predictive procurement is set to be a key theme for procurement professionals in 2025, as they seek to gain greater insight into likely future demand and pricing trends in an uncertain economic ...

The pandemic-driven shutdowns of factories worldwide brought the weak links of global supply chains into the spotlight. Businesses faced critical component and raw material shortages, and sudden ...

Historically, procurement teams have had to deal with multiple structured and unstructured databases. To make decisions based on facts and acquire a competitive edge, procurement teams require the ...

A look at potential financial impact, current procurement practices, and technology infrastructure will help supply an answer. Business-to-Business (B2B) e-commerce is arguably the fastest growing ...

As the federal government continues defining its rollout of new tariffs, procurement professionals are keeping a close eye on how shifting trade policies will impact prices, supply chains and existing ...

Procurement and sourcing are cornerstones of any business operation, as they greatly influence the cost structures, quality of production, and overall profitability. They ensure a steady flow of the ...

Most procurement professionals during challenging times would file the procurement procedure book in the round file cabinet and resort to a more “hand-to-mouth” strategy, but your procurement process ...