Budgets for 2013 are under tough scrutiny, and procurement teams are defending how each technology, including contract management systems, impacts the bottom line and overall business strategy.
At first glance, someone outside of the sourcing department may think that contract management is only about automation and reducing administrative burden. However, here are three new ways that showcase the versatility and value of contract management in the electronics industry.
Addressing the conflict minerals dilemma: Last month’s SEC ruling forces companies to delve deeper into the supply chain -- down to the specific country and facility of origin for what are now officially classified as conflict minerals. Contracts should be a starting point for this, and the biggest asset for requiring this level of disclosure in the future.
Exceeding supply diversity quotas: Some of the most successful companies embrace supplier diversity far beyond what the federal government requires. They contractually obligate core suppliers, as well as Tier 2 and Tier 3 suppliers, to source a subset of what they sell from diverse suppliers.
Bringing more spend under management: Not all contracts are up for renewal come budget time. And without a system in place for reporting when terms are up, the contracts tend to roll over, and organizations miss a crucial opportunity to reevaluate the spend and negotiate better terms.
Are you feeling the budget pressure already? I’d also like to hear about any outside-the-box benefits of contract management.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Archived Dialogues
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Euro-Crisis: What It Means for High-Tech Firms Join EBN Editor in Chief Bolaji Ojo and Contributing Editor Jennifer Baljko on Thursday, July 12, at 10:00 a.m. EDT for a Live Chat on high-tech and Europe's economic difficulties.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.
To save this item to your list of favorite EBN content so you can find it later in your Profile page, click the "Save It" button next to the item.
If you found this interesting or useful, please use the links to the services below to share it with other readers. You will need a free account with each service to share an item via that service.
Tweet This