Sourcing Strategies

People, process, & technology: building resiliency with strategic procurement in 2024

Author: Margaret Cunha, Senior Director, Supply Chain Solutions, DigiKey Throughout 2023, the supply chain continued to experience many of the challenges that have defined the past several pandemic years, including extremely high demand paired with production challenges and high costs. Through all of this, procurement professionals have been hard at work to ensure that their

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Sourcing Strategies

The Value of Preparation in Advance of Procurement Negotiation

We all likely know how to achieve best practices in negotiations. You want to come to the best possible solution for both sides—win/win, and you already know your goals and timeline, you’re familiar with the contract you want, and you know how to play well in any situation. That, unfortunately, isn’t enough. Let’s look back

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Sourcing Strategies

The Not-too-Distant Future of Procurement

Procurement is fast rising as a critical guardian and first line of risk defense. Based on the challenges of the past few years, procurement is set to play an even more significant role in tackling and solving critical business problems rather than just managing and optimizing processes. What does that mean to your organization? You

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Sourcing Strategies

3 Close-to-Home KPIs Your Organization Should Master By Carolyn Mathas

In all aspects of procurement and especially during times of chaos, it’s easy to look “out there” and modify what we’re doing in our relationships with suppliers, customers, etc. There are, however, three KPIs that, when mastered on an ongoing basis, will bring significant increases to profit margins and do it much closer to home.

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Sourcing Strategies

Procurement vs. Sourcing: A Symbiotic Relationship

According to Kearney,  just two years ago, 30% of a service company’s revenue and at least 50% of a manufacturing company’s revenue was designated to procurement. And a recent sourcing and procurement report by SpendEdge highlighted forecasts for $16 billion growth in order fulfillment services by 2024. Many wrongfully think that sourcing and procurement are

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Sourcing Strategies

How Procurement is Evolving and What You Can Do to Prepare

A spotlight has been shone on all aspects of our supply chains lately, mainly due to recent disruptions due to world events. Cascading uncertainty can be disastrous for our supply chains, and procurement is not an exception. Accelerated by ongoing pressures, all aspects of the procurement function are evolving at breakneck speed, moving from yesterday’s

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Sourcing Strategies

What You Should Know About Selecting 5G Antennas for Your Designs

Where 5G is concerned, antennas can no longer be taken for granted. Directionality, latency, increased transmission rate, antenna size, higher frequencies, and shorter wavelengths are on the list of what’s unique regarding 5G antennas. In fact, antenna design relies on the form factors of end devices and the preferences of the OEM. So, what should

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Sourcing Strategies

Why COVID-19’s Supply Chain Impact will be the Most Damaging to Date

It was a little different back in 1997 when SARS hit. The tech industry’s reliance on critical products and components from China was, in comparison to today, minimal. Now, the COVID-19 virus is shuttering factories and shops in the Wuhan area and transportation is halting. Even as some are reopening, there is a very slow

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Sourcing Strategies

5G and its Positive Impact on Supply Chains

Recently, we discussed the downsides to 5G in supply chains, but let’s now explore its potential positive impacts. Supply chains are experiencing a lot of technology-based changes over the past few years and the roll-out of 5G promises to deliver multiple benefits to an industry in waiting. Expectations are that robotics, drones and IoT usage

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Sourcing Strategies

9 Bill of Materials Best Practices [And What Happens If You Don’t Follow Them]

Imagine you’re designing custom measurement systems and never expect to build two of the same system, only to be asked by a client a year later for another system just like the one you built previously. Sounds great, right? But what if the team never put together a Bill of Materials (BOM) for that original

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