NLPA Blog

7 Ways Technology can Increase Profits

Technology has reshaped the way businesses operate, expand, and communicate. In our quickly changing world technology can streamline processes. What used to take months to finish now takes only a few weeks or days. Read on for some of the ways that technology can improve your business:  Increased efficiency and productivity In the old days, people used to carry a…

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The Must Know Components of Inventory

Simplifying things, inventory refers to things that are being temporarily stored because they are not quite ready to go elsewhere. Inventory can be things that your organization plans to sell in its current conditions. Inventory can be things that your organization plans to incorporate into something else that it is making. And inventory can be things that your organization plans…

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Role of the Procurement Function

Procurement Departments are created for the understanding and translation of customer needs and requirements to the selection of capable suppliers, to realize the cost-effective acquisition, receipt, and payment of vital inputs and raw materials. Factors impacting the Total Cost of Ownership such as quality, efficiencies, delays, stock-outs, obsolescence and carrying cost are heavily emphasized in the procurement discipline. Procurement Personnel must master 3 critical…

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Coronavirus COVID-19 – NLPA’s S.F.I.A.R(T) Model™

The Coronavirus Pandemic is delivering an unprecedented challenge to the economic, emergency response, crisis management, and healthcare capacity of the global community. Much has been written about safety measures to curb the spread of the outbreak. Many nations are deploying various response mechanisms, National Guard deployment, school closures and nationwide state of emergencies are being implemented, enforced, and normalized. The…

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Vendor Risk Management

  The last decade has yielded many events, forces, and elements in which a greater concern and scrutiny of the concept of Vendor or Supplier Risk Management has risen. At the forefront are driven for Cost Reduction, Top Line Growth, and Competitive Advantage. Supplier Risk Management Processes are underpinned by: Identification of Potential Risks emanating from the interaction of buying…

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What is a Purchase Order, and How Does it Work?

A purchase order (PO) is a commercial document and first official offer issued by a buyer to a seller indicating types, quantities, and agreed prices for products or services. It is used to control the purchasing of products and services from external suppliers. The purchasing process starts with a need. That need should be verified. The item requirements are checked and noted the PO.…

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Achieving Supply Sustainability through Effective Metrics

  Every Procurement Department should have a strategy to ensure a stable and sustainable supply of raw materials and mission-critical inputs. Procurement Functions are mandated to ensure cost-effective, continuous support of operational | strategic objectives. Procurement is also responsible for implementing robust risk management mechanisms to realize supply sustainability. A supply sustainability strategy is the game plan or action of…

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3 Pillars and benefits of Sustainability

Sustainability is the capability to continuously conduct certain activities indefinitely. The study of sustainability is evolving and is often viewed in three dimensions known as the Three Pillars of Sustainability. Environmental Sustainability is: The capability of the globe to sustain levels of pollution, nonrenewable resource depletion, and renewable harvesting proceeding on an indefinite continuum. These environmental sustainability parameters are: Nonrenewable…

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Direct vs. Indirect Spend

One of my students asked about the difference between direct and indirect spend, so I thought I’d post my reply here so that others may benefit from the definitions, too… Don’t miss updates on Procurement & Supply Chain, Subscribe here! Direct spend refers to purchases of goods and services that are directly incorporated into a product being manufactured. Examples include…

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Strategic Cost Reduction for Supply Chain Success

Strategic Cost Reduction for Supply Chain Success – Reduce Spend, Risks & Cost The are many avenues to realizing cost reduction, including the traditional areas of price, delivery, quality, warranty, and payment terms. In this blog, we will explore many other avenues for cost reduction realization. We will examine the methodology and benefits of a big picture, strategic systems thinking…

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