Procurement is at an inflection point. For many leading companies, procurement has been transformed into a linchpin of enterprise strategy. Yet many remain trapped by outdated paradigms and struggle for influence within their companies. Here’s how organizations can reinvent the procurement function and put the past behind them.
While many companies are challenged to grow their revenue in today’s slow economy, Pratt & Whitney faces a different Issue: How to lock up supply as it ramps up to double the output of its new jet engine over the next five years. This is how they did It.
Suppliers can inform product development and the R&D group can help select the best suppliers.
The index ISM uses to measure non-manufacturing growth—known as the NMI—was 55.7 in April (a level of 50 or higher indicates growth), which was up 1.2 percent compared to March, with economic activity in the non-manufacturing sector growing for the 75th consecutive month. The April PMI is 0.5 percent above the 12-month average of 56.2.
Greater reliance on mechanized advances in seaport technology is being championed by California Senator Ricardo Lara and The Pacific Merchant Shipping Association (PMSA), an independent, not-for-profit trade association.