The rise of Industry 4.0 has spawned a mini revolution of its own - Procurement 4.0. By harnessing the potential of cyber-physical systems, Procurement 4.0 is empowering Chief Procurement Officers and other supply chain professionals to leverage better data to their advantage. Enter Procurement 4.0.
Climate change is impacting every populated region in the world, and it seems likely that the effects of climate change are only going to worsen in the future. In 2021 alone, the United States suffered 20 separate billion-dollar weather events, and Australia has seen a 16% decrease in rainfall since 1970. In considering the havoc that wildfires, floods, and freezes are wreaking on supply chains around the globe, it’s quite clear that doing nothing is no longer an option. Today’s business leaders are under intense pressure to drive sustainable initiatives with a clear and direct focus on climate change. However, creating a more sustainable organisation requires a “whole of business” strategy and there’s a growing realisation that procurement has a vital, but often neglected, role to play.
Our team members make Orderfox a special, vibrant company. While having different backgrounds and personalities, every colleague has a passion for their field of work and our collective mission. This month, we talked to Stephan Maly, aka "Maly", our Sales Develop Manager
Supply chain disruptions and bottlenecks have become an unpleasant fact of life for many businesses over the last few years. With no foreseeable end to these problems on the horizon, what can businesses do to ensure that their supply chains keep running efficiently? We take a look at some of the causes of supply chain bottlenecks and explore how businesses can implement technology to help navigate these unexpected disruptions
The role of a Chief Procurement Officer (CPO) in most industries has been more fundamentally transformed over the last couple of years than almost any other leadership role. In fact, according to LinkedIn Economic Graph Research, Chief Procurement Officers are one of the fastest-growing C-suite hires with 15% growth in 2020. With this additional influence comes change, which begs the question: What does the role of the CPO look like, today and in the future?
Our team members make Orderfox a special, vibrant company. While having different backgrounds and personalities, every colleague has a passion for their field of work and our collective mission. This month, we talk to Serhat Lükel, our Senior Account Manager
Digitalised manufacturing makes processes more transparent, workflows more efficient and supports companies in the continuous improvement of products. Digitalisation can reduce energy consumption, maintain supply chains in a stable manner even in difficult times, reduce unproductive downtime and relieve the workforce of time-consuming routine tasks. However, Industry 4.0 also makes manufacturing companies a target for cybercriminals.
Workpieces weighing several tons and material costs per piece the equivalent to the value of a small car: In the field of heavyweight machining, everything is slightly larger; except for the tolerances because high-precision production in the hundredth or even thousandths of a millimetre range is the rule rather than the exception in modern large-part machining and heavy machining. More and more manufacturing companies are meeting the high customer demands with powerful multifunctional machines. Turning, milling, drilling and grinding in one set-up ensures significantly increased process reliability – and at the same time reduces unproductive set-up times.
Maverick spending causes higher procurement and administrative costs, as well as a loss of control over spending and suppliers. In fact, it’s estimated that organisations lose on average 10-20% of their savings because of maverick spend. In addition, maverick spending makes achieving ESG goals harder and poses a major risk when it comes to legal standards. Here we look at what exactly maverick spending is, the reasons behind it, and how your organisation can tackle maverick spending through digital procurement.
A new report by Gartner - Shockproof Your Supply Chain for the New Age of Disruption - states that CPOs are so busy focusing on putting out fires in the short term that they are missing the opportunity to build resilient supply chains that can not only survive but thrive in this new age of disruption. Over the last two years, as one crisis has segued into the next, CPOs have had little time to recover from any of them and, as a result, many “are confusing risk mitigation with resilience.”