The term “outsourcing” usually brings to mind negative images including loss of control over key processes and lowering morale within the organization. However, businesses continue to outsource their travel procurement on a large scale, and new research tell us this is not likely to change anytime soon. In fact, many professionals in the industry are…
While a company is small, procurement is simple. As the organization grows, however, the process gets muddled and becomes less efficient. For example, the federal government has grown to the point of inefficiency at which it spends $800 per American per year on goods and services! If your procurement processes seem cumbersome and inefficient, here…
As the U.S. embarks on its quest for energy independence, relatively new procedures for tapping into our vast supplies of natural gas buried in shale underneath states like Colorado and New York open up opportunities for companies such as Exxon Mobil and Sempra Energy to boost profits, and perhaps the economy at large.
A new study released by Planning Perspectives, the 2013 OEM Supplier Study, suggests that the six biggest auto manufacturers are slipping back into the poor supplier relations that contributed to their problems. This is a serious issue, considering that these manufacturers pay suppliers about 60-70 percent of their gross revenues each year.
According to a report recently released by the analyst group Visiongain, the aluminum foil packaging industry should see strong growth between 2013 and 2023. The report, entitled “World Aluminum Foil Packing Market 2013-2023” cites developing markets as a primary source for driving this growth.
The latest tragedy in Bangladesh’s dilapidated, poorly constructed, improperly maintained factories involved a clothing supplier, Tung Hai Sweaters, located in the capital city of Dhaka. Though the workers were not in the building at the time of the fire, a manager’s meeting led to the deaths of eight executives including the owner of the factory,…
If you conduct a Google search of “U.S. talent shortage” you’re going to get approximately 6.5 million results. What does this mean for your business? It means the talent shortage is real, and you need to take steps to assure your company’s success in the coming years. You can fill your offices with top talent…
Earlier this week, the Indian news publication The Economic Times caused quite a stir among information technologies services suppliers, especially those in India. The article quoted a source close to the retail company Proctor & Gamble, and claimed that the company intended to begin reductions in outsourcing. Most of the speculation surrounded a $3 billion…
As LED lighting technology becomes less expensive and offers higher quality, businesses are expected to favor this energy-efficient solution greatly over traditional lighting sources, such as incandescent bulbs, fluorescent, or high-intensity discharge (HID) lighting. In fact, a new study just released by Navigant Research predicts the LED industry will grow from its current $1.5 billion…
Private equity firms in the U.S. are optimistic about 2013, and are ready to boost their spending budgets on more mergers and acquisitions, according to the 2013 McGladrey Private Equity Survey. The survey included 125 private equity firms. The results concluded that 77 percent of these firms are optimistic about their own economic futures. Only…