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Diversification in the Supply Chain

As investors, we are taught early on that a diversified portfolio is a smart, lower-risk approach to managing finances, whether it be our personal investments or those of an organization. As Steven Banker appropriately asks in his article, https://logisticsviewpoints.com/2020/04/27/if-multi-sourcing-is-a-best-practice-why-are-so-few-companies-doing-it/, why aren't more companies using diversification, or multi-sourcing, as a means to ensure supply continuity & …

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Strategic Sourcing = Strategic Business Partner

https://www.scmr.com/article/procurement_must_reduce_costs_while_continuing_to_become_a_better_strategic Long gone are the days where a procurement or sourcing function is built to simply cut costs. In today's world and building for tomorrow, great leaders need all functions to be working and collaborating as strategic partners, which means decisions are not made in functional silos. Nowhere is this more important than in procurement. …

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