Hundreds of Tier 1, 2, & 3 CNC machine shops will need to pivot to more efficient sourcing strategies for purchasing bar stock in 2023. Automating purchasing to keep their supply stocked will be key for smooth and efficient operations going forward. The Current Situation ThomasNet has a list of 542 Steel bar stock material
How CNC Machine Shops Can Reduce Time Spent Sourcing Bar Stock Read More »
Thirty months since our team members first learned about Coronavirus (remember calling it that!) there is a lot we have learned. It is sobering to think about over half a billion people around the world have contracted Covid and we have over 6.35 million recorded deaths (excluding China, which has stopped publishing its counts). According
What We Got Wrong About COVID Read More »
RFQ (request for quote) is a business process in which a company or public entity requests a quote from a supplier for the purchase of specific products or services. RFQ generally means the same thing as Call for bids (CfB) and Invitation for bid (IfB). Up until the 1990s, these kinds of requests were issued
ERFx/Sourcing Terminologies Read More »
Are your suppliers’ certifications compliant? Are you buyers being productive? Do you have visibility to your teams sourcing activity? How do you manage all your supplier relationships? If you are a manufacturer, these are all probably common questions that you ask. In most cases, all this relevant data is scattered across different systems & platforms
How Robust is Your Supplier Management System? Read More »
Ever wondered what all the different purchasing-related acronyms really mean? You’ve come to the right place. Using simple terminology, here is an explanation of the often confusing “alphabet soup” acronyms, which are germane to the world of purchasing and procurement. ERFx An ERFx is an Electronic Request for (x), where “x” stands for Proposal, Quotation,
The Basics of Sourcing (Explained in Plain Language) Read More »
