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The Bottom Line

A View of the Industry That Pulls No Punches

The Necessary Practice of Price Forecasting in Manufacturing

Posted by Jim Kurtz on Sep 23, 2021 10:00:00 AM

As a manufacturer, one of your main goals is balancing the right amount of product in stock. With too little, you run at inopportune times, which causes customers to purchase elsewhere. With too much, you pay unnecessarily high costs for inventory management.

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Topics: Manufcaturing, ManufacturingAdvisor, Forecasting, Price Forecasting

Cost-Saving Initiatives in Procurement for Manufacturers to Implement

Posted by Jim Kurtz on Jun 9, 2021 9:15:00 AM

Most were glad to leave 2020 behind. Yet, for all the uncertainties and unusual changes the world faced, people also learned important lessons and, as a result, changed their habits in ways that will be in effect for years to come. Nowhere is this more apparent than in manufacturing procurement. 

Remote work, social distancing, supply chain issues, shortages, and other disruptions have permanently reshaped operating strategy trends and created new opportunities for cost-saving initiatives in procurement. The operational landscape has altered, and many long-held practices are being adjusted to reflect the new reality.

Partly due to the pandemic and partly because of advances in technology, several trends have emerged in 2021 that promise to affect procurement strategies for years to come. Additionally, these changes offer new cost-saving opportunities. Below are four trends and cost-saving initiatives in procurement that every manager should consider implementing.

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Topics: Manufacturing, Procurement Consulting, ManufacturingAdvisor, Procurement

Key Differences Between Procurement Consulting and In-House Resourcing

Posted by Jim Kurtz on May 19, 2021 9:00:00 AM
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Topics: Manufacturing, Strategic Resource Management, SRM, Procurement Consulting, ManufacturingAdvisor, Procurement