Keep looking forward, don’t forget the basics, and what goes around comes around. Those three messages were at the heart of three conversations I have had with magazine and web editors recently.
After I spoke at the first Drug, Chemical & Associated Technologies Association (DCAT) “Sharp Sourcing” event, Rob Wright, editor in chief of Life Sciences Leader took note of this video that I shared about the technology outlook for 2020. It underscores the need for procurement organizations to look for innovations from suppliers – especially in supply chain transparency, sustainability, and value that positions your organization for success. Identifying key suppliers and building strategic relationships are essential. Here’s the link to the blog post.
U.S. manufacturing is the phenomenon that is coming back around. I had a good conversation about that with Rachel Leisemann Immel, Associate Editor, IMPO. As the cost of labor in China has risen, the issues of distance, lag times, transportation costs and other risks are bringing manufacturing investments back to the U.S. I say “investments,” not “jobs” because the work that is coming back generally involves a good degree of automation, and fewer workers. Our discussion covered a lot of ground. You can find it here.
Finally, no matter what you are buying it’s always smart to know whatever you can about your suppliers’ costs. It’s a pretty basic part of procurement, but it can easily get sidelined when you get into strategic negotiations or are buying parts that are difficult to find. We covered those basics with Bridget McCrea at Digi-Key Corporation, which is in the electronic parts business.