This program is a 24-month rotational leadership program consisting of 3 different assignments across Dover’s global business segments. In each assignment, participants will take meaningful supply chain functional roles at Dover’s various operating companies, as well as its corporate offices, for approximately 8 months each.
The aim of the program is to develop and eventually place participants in key supply chain roles that align their area of expertise with Dover’s business needs.With support and mentorship from the operating company (assignment lead) and Dover headquarter leadership, each assignment will offer a hands-on, supportive environment that fosters both formal and informal learning and development, while delivering business value. Can i download ios apps on android.
A Guide to Global Sourcing for C ompetitive AdvantageA Guide to Global Sourcing for competitive advantage – A guide for CEO’s, CFO’s, and CPO’s, on how global sourcing can contribute to business objectives for sustainable competitive advantageWhat’s in it for you?Improved sourcing effectiveness and value from your supply base Reading time:15 minutes 1. Introduction:Global sourcing has become an economic imperative for many organisations. Increased competition, globalisation, and the desire to enter developing markets overseas to drive growth have driven a greatly increased level of international sourcing.
However, simply buying internationally is not going to provide the best solution to achieving the goals that will lead to continuing corporate success. A comprehensive global sourcing strategy is required.Today, it’s no longer a question of whether a business should consider global sourcing; it’s a matter of ‘how’. How to launch, execute, and manage a global supply base to maximise benefits and minimise risks.While cost reduction remains one of the leading factors in driving organisations to turn toward global sourcing, lower cost alone are unlikely to provide a competitive advantage if your competitors are also sourcing internationally. Linking to Business ObjectivesGlobal sourcing is one component of a company’s overall sourcing management strategy (Fig 1). It should systematically determine whether a product or service should be made in-house, outsourced, sourced locally, regionally or globally to support the organisations continued success. Table 1: Typical Problems in Global Sourcing 3. ProcessMany companies find the process of global sourcing, particularly in low-cost countries, extremely difficult due to the increased complexity.
The truth is that failures in global sourcing activities expose the weakness of a company’s standard sourcing processes. A robust process by which to conduct global sourcing is critical.Commencing with the overall sourcing strategy framework and having reached the decision to source globally, the strategic sourcing process provides the discipline by which to manage supplier selection and to maximise value contribution.Unfortunately, while many purchasing professionals will be able to show the ‘best practice’ chevrons for a successful strategic sourcing exercise. They will often admit to not practising such a robust process on a day to day basis. This lapse of discipline can result in problems later, particularly when sourcing globally as the supply base is often working to different standards of practice and acceptability concerning its local customer base.The key to successful strategic sourcing is a robust and sustainable process supported by strong governance and conducted via suitably skilled people. See examples of good working practice in Table 2.If you don’t reflect these disciplines in your strategic sourcing process, it will not be long before serious problems are uncounted. Once the sourcing process is complete ongoing supplier management is necessary to ensure quality, CSR and sourcing integrity are maintained and to protect against supply chain failures.
This requires investment in time, resources and money. Key Evaluation DimensionsThe key success factors of global sourcing evaluation revolve around three dimensions:. product. location. supplierThese dimensions must be systematically evaluated as part of the strategic sourcing process: 4.1 ProductIt is important to determine suitable products for global sourcing.
The key is to target products that provide high benefit and low risk and that fit well with overall company objectives. Such products have high labour content and low shipping costs.
A thorough product positioning review and business risk assessment should be weighed against the advantages taking into account factors such as product life-cycle, lead time, labour content, IP and transportation etc.:. If a product requires 50% labour, it may make sense to source in countries that have low labour cost.
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If it only has 10% labour content, then it may make more sense to buy closer to home to save on transportation costs. Products that are large, bulky or perishable, are more difficult to transport.
Products with large demand variation, require holding more inventory, increasing costs and risk of obsolescence. Products with long lead time may also increase inventory requirements.From a supply chain perspective, you have to make sure that hidden costs don’t eat up the savings. 4.2 LocationCompanies engaged in global sourcing should develop a geographic strategy to determine which countries they will buy from and how volumes will be allocated. By determining the comparative advantage of countries, procurement can determine whether it pays to source a product locally or internationally.In addition to low labour cost, sources of comparative advantage come from factors such as:.
Available talent pool. Cost of raw materials, capital equipment, and taxation levels, etc. Logistics infrastructure such as roads and ports. Political stabilityLow wages doesn’t always mean low cost.
If a country has a comparative disadvantage in any of these or other areas, it will reduce the benefit of low labour cost. Therefore, those countries with the right mix of macro-economic factors, infrastructure, and labor requirements represent the high potential countries for global sourcing. Labour cost must also be balanced against the required level of value added, the level of complexity involved in the production and the available skill levels.Other considerations include the availability of banks, universities, insurance groups, public accountants, customs brokers, etc.
To establish a robust local business network. 4.3 SupplierA supplier profile should be developed, using an expanded version of your supplier questionnaire including extras, such as control of export documentation, etc.A thorough knowledge of your suppliers is critical, to aid good communication. Due to the additional complexities of global sourcing it is advisable to allow for longer screening and trial periods with new suppliers to evaluate capabilities. Capabilities can be sub categorised, including:. Current client-al and references in your market.
Quality assurance. Employee hiring & training. Facilities & Security. Disaster recovery. Process CapabilitiesPart of finding the right supplier is ensuring that the organisation has more than just the right equipment and quality. It also makes sense to know whether the supplier can be a long-term partner with your business.
To make such a determination it is vital to get a complete understanding of the underlying financial resources, management team, extended trading relationships and general management practices. Table: 2 Examples of Good Practice in Global Sourcing5. A Guide to Global Sourcing for competitive advantage Conclusion:Global Sourcing has become an economic necessity for many organisations with far reaching impact. The resulting extended supply chains, introduces increased lead times, additional touch points, ever-changing global regulations and increased risk.
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Sourcing globally may reduce cost but increases business complexity. To manage this increase in complexity businesses need to develop the new capabilities and metrics needed to administer and manage longer, more complex, riskier supply chains.One of the benefits of working with a proven robust methodology is that it helps reduce the risks that can be associated with global sourcing.
By rigorously tailoring the sourcing strategy to an individual product, country and supplier. Such a process speeds up the identification of opportunities and realisation of savings while addressing inherent risk.Global sourcing can give companies leverage, and access to new intellectual capital and technologies far beyond what a domestic only supply network offers. Furthermore, input costs such as labour, land, overhead, raw materials, energy, employee benefits, etc. Can vary significantly across regions, presenting a huge opportunity for those with the capabilities to execute.Nuff said Tags:,.
In the past, China was considered the go-to country for the lowest pricing and acceptable quality. (Be careful here because the transportation cost alone from China to your factory door can jack up the price considerably on your landed price per unit; make sure the price your supplier offers sans transportation costs beats all other competing supplier bids a hundred times over to ensure you end up with the lowest possible price).
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But now, companies are turning to such destinations as Korea, India, and Vietnam for alternative low-cost country suppliers, especially since China is slowly raising their pricing. Let’s say you’ve traveled to Vietnam and were lucky enough to find a good interpreter for your business meetings. He or she does an excellent job handling negotiations, and after hours of working on the deal, your interpreter leaves the room for a short break at a critical moment. Your key Vietnamese contact says: “I want to buy 20,000 of your widgets.” And your response is a blank stare. Because you don’t speak the language and have no idea what he said. Sure, this sounds like a far-fetched example, but it can happen and will happen if you don’t have an employee who watches out for your best interests and speaks the language of the country where you are about to conduct business.
3dmentat/Adobe StockSpend Matters welcomes this guest post from Nick Lazzara of.As a function, we’ve discussed at great lengths over the past couple of years how procurement has climbed up the corporate ladder to take on a more strategic role in many businesses. Although technology and a changing business landscape have undoubtedly increased the pace of this subtle shift, talented professionals have been the driving force behind it.Also well documented are the difficulties in locating and enticing these gifted individuals. While most companies still find themselves struggling to find the right talent, a select few have sourcing leaders lining up to work for them.In our last piece, we covered how companies can become an. In this article, we will share some of our findings on which organizations are the employers of choice for procurement today. Most Desired CompaniesIn today’s procurement employment landscape, candidates are in the driver’s seat.
Whereas during the economic downturn companies may have had their pick of the litter, today it’s the job seeker who is now often entertaining multiple offers and can afford to be selective. As the hyper-competitive talent market remains hot, this leaves most employers holding the short end of the stick.A handful of organizations, however, consistently come up in our conversations with practitioners about who their dream employers are. These are typically companies that are renowned for world-class supply chain practices, innovative thinking or an overall company culture and messaging that procurement folks can’t help but feel attracted to. You know, the companies that have 100 applicants to a “Director Sourcing” opening within an hour of posting the ad on LinkedIn.The company that comes up the most frequently as an ideal destination is Amazon, which comes as little surprise, as the e-commerce giant is redefining the supply chain makeup of countless industries, while turning those industries on their head in the meantime.
With explosive growth organically and through acquisition, an ambitious procurement leader at Amazon could, in theory, “have their cake and eat it too” with a buffet of desirable challenges like M&A due diligence, standing up sourcing groups, business process integration and more, with extremely high stakes and visibility. In other words, putting Amazon on your resume is sexy. Other organizations that often fall in this category are innovative blue-chippers like Apple, Google and Facebook, for similar and obvious reasons.Another company that is often a list-topper is Unilever, although for different reasons than the previous ones. Unilever draws the admiration of many, including a procurement exec in transition we spoke with a few months ago, who described the reasons why: robust procurement group demonstrating best-in-class processes; strong sustainability sourcing practices; global presence and a sterling supply chain brand, as they were voted No. 1 on Gartner SC Top 25 Supply Chain list. Procter & Gamble and Johnson & Johnson also fit the bill here, with well-liked, reputable procurement groups that are the envy of other organizations.Two other desirable, although outside the box, companies we’re often pointed to in the consumer-packaged goods (CPG) and food sectors are SC Johnson and J.M.
These organizations defy odds in nabbing top procurement talent in non-metro areas (Racine, Wisconsin, and Orrville, Ohio, respectively) by putting their best foot forward in other areas — namely, outstanding culture and treatment of employees, considerate career-pathing and world-class perks and benefits. While these companies hover in the $7 billion–$10 billion range, we’ve heard firsthand that they make their employees feel like family, and that attracts top-notch leaders.
Chobani is another company cut of the same cloth, with a growing sourcing group people are excited to be a part of.Job seekers have always told us they’re drawn to organizations that have award-winning leadership or are recognized for being function-wide centers of excellence for process, technology or talent. For instance, teams that won awards at Procurement Leaders annual World Procurement Awards, like Flex, Amcor and, or procurement groups led by ISM Shipman award winners ( UTC, DuPont, AT Kearney), a Supply Management lifetime achievement honor, always have job seekers beating down their doors. Top Industries for ProcurementWhile the aforementioned companies are a few of the top supply chain brands, we’ve also seen that certain industries are in high demand. Among these, we’ve seen the biggest increase of interest in the following industries: Consumer GoodsFor the past several years, we’ve seen significant growth in terms of the emphasis placed on building high-functioning procurement teams in the CPG sector.
Many of our most exciting projects have been helping provide resources for large CPGs that were developing procurement groups from scratch or undergoing major facelifts in the function. This is an industry where we’ve seen a high prevalence of sourcing earning a seat at the leadership table, as the function works closely with all departments and has an ear to the consumer. Notable companies include Unilever, P&G, J&J, SC Johnson, Newell Brands, Colgate-Palmolive, Kimberly-Clark, Reckitt Benckiser, Under Armour and Nike. TechEveryone wants to get into tech. That said, Silicon Valley is in dire need for procurement talent. Most tech companies have outsourced procurement to consulting/BPO firms to remain lean, although we’re seeing that trend let up a bit and more companies investing in internal resources. Notable tech targets include Apple, Google, Facebook, Samsung, Lenovo, Cisco, Microsoft, Tesla and Symantec.
Food and BeverageIf there’s one industry we’re assured will never go out of vogue, it’s eating and drinking. Even though consolidation continues to transform this sector, we still see robust interest from candidates who want to explore careers in with household names. Some high-interest companies include McDonald’s, Danone, Nestle, Kraft-Heinz, Mondelez, Chobani, Starbucks, PepsiCo, Diageo, Smucker, Tyson and MillerCoors.
Medical Devices/PharmaIn such high-impact industries, it’s no surprise the med device and pharma space are attractive to strategic sourcing folks. This is an area where we’ve seen major M&A activity, revenue growth and financing allotted toward developing top-notch supply chain functions to stand the test of intense regulations. Procurement leaders in this industry include Stryker, Zimmer Biomet, Covidien/Medtronic, Merck, Allergan, Teva and 3M. Consulting FirmsConsulting has always been a target for ambitious procurement leaders and a place where a change agent can maximize the breadth of their impact. The industry remains the best way to get exposure to many verticals quickly, thus making it coveted. Top procurement targets in this industry include, AT Kearney, McKinsey, Bain, Denali, IBM and AlixPartners.Lest we imply that only big names are getting all the top talent, we’d like to make clear that isn’t always the case. There are still plenty of “A players” that will be attracted to an opportunity that is either a greenfield environment within a company or an opportunity with a brand new startup.
Word of mouth from peers and strong growth prospects will always be a strong draw and enable a healthy competition for procurement superstars.: Jason Busch said: Bravo Nick. Excellent piece. The need for true 'procurement analytics' has never been greater at.: Margaret said: My customer uses Ariba and I find it very difficult to invoice them. The system sends back invoices.: Scott said: Quality control is a critical issue when hiring freelancers remotely. Poor quality or poor execution.: John Tight said: The outsourcing company should be flexible.
The terms and conditions on which they work should be fl.: Esther Ho said: This is just happened to us too and not only, they billed us x amount and charged us x amount + a fe.
NEW YORK, May 24, 2017 /3BL Media/ - The Global Sourcing Council (GSC), an association of global sourcing professionals dedicated to guiding businesses towards adopting sustainability principles and responsible sourcing practices, is proud to announce the winners of the 2017 3S Awards, held May 17th in New York City.The GSC 3S Awards is the only program that honors small and medium-sized social enterprises for their Sustainable and Socially responsible Sourcing practices - the 3 Ss - and in support of the United Nations' 2030 Agenda for Sustainable Development. The UN’s 17 Sustainable Development Goals were organized into 5 awards categories honoring work to improve Basic Needs, Climate Change and the Environment, Empowerment, Social Impact via Technology Innovation, and the People’s Choice Award for Business Partnerships. Finalists were awarded seats at the Global Sourcing Council’s Sustainable and Executive Leadership (SEAL) Boot Camp and scholarships to SIG University.“The mission of the Global Sourcing Council, now in its 10th year promoting ‘profit with purpose’, is to educate, advocate, and inspire businesses towards greater ethical business practice and sustainable supply chains,” said Wanda R. Lopuch, Ph.D., the Chair of the Global Sourcing Council. “This year’s competition was the fiercest we have seen.
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The world-class panel of Judges, from varied business, finance, and investment sectors, deliberated intensely to select the winners.