This week we're on our travels visiting overseas producers and processors which is always a healthy reminder of where the value in value chains begins. SAQs and third part audits have their place, however there's nothing like a supplier visit to keep you grounded when it comes to building trust in international value chains. In principle, that task is the same as finding the common ground between different departments with different objectives; although distance and language can magnify communication challenges which is why nothing is better than "go see" when it comes to finding shared interest and developing trust between a brand holder and manufacturing partners.
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How important are quality shipping materials to you? 1️⃣ Essential - Packaging integrity is crucial for product safety. 2️⃣ Important - It matters, but there are other factors too. 3️⃣ Neutral - It's not a top priority for me. 4️⃣ Not important - As long as it gets here, I'm good. Vote in the comments! Let's see where our priorities lie.
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📣 Exciting new Fairmarkit case study alert!! 📣 Read how Alcoa leveraged our real-time analytics and AI-driven recommendations to streamline their sourcing process! 8.7x ROI in Year 1!! 🚀 📈
“With Fairmarkit, we streamlined the source-to-PO process, ensured compliance to specs, compared delivery lead times, and achieved transparency across countries and operating locations. The impact was profound. Beyond our initial goals, Fairmarkit surprised us. It became a catalyst for collaboration. Buyers engaged more effectively, and data-driven insights empowered decision-making. Supplier interactions became transparent, fostering trust” — Jay Holton, Global Director - Center of Excellence, Procurement at Alcoa To learn more about our partnership with Alcoa, be sure to check out our most recent case study, available on our site now: https://lnkd.in/e4X4GYUx
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CMC's responsible sourcing approach invites your suppliers into the process and encourages their engagement in responsible sourcing, contributing to greater transparency in our supply chains overall. Keep in mind that things will not be perfect but through engagement, positive change can happen over time. Always remember that our colleagues, miners, lapidary artists, and others in producing countries are trying to make a living just like us, want the best for their children, and wish to have their own dreams come true. They need and deserve our engagement in responsible practices to lift this whole industry up and forward. Learn more about our approach in our blog: https://buff.ly/3FEOkND
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🔔 NEW CASE STUDY ALERT🔔 Fairmarkit is working with THE name in aluminum production, Alcoa. From rolling out in the Western hemisphere with a tight 4 month turnaround, Alcoa was able to see huge value conducting more than 3,000 sourcing events in the platform. This yielded 8.7x ROI, and 10% cost savings and avoidance. Massive! Alcoa wanted to focus on simplicity, sustainability, and profitability, and were able to achieve all three by investing in the platform. Awesome to see the real power of |#AI #sourcing in action. If you're curious on how we might be able to help you, don't hesitate to start the conversation!
“With Fairmarkit, we streamlined the source-to-PO process, ensured compliance to specs, compared delivery lead times, and achieved transparency across countries and operating locations. The impact was profound. Beyond our initial goals, Fairmarkit surprised us. It became a catalyst for collaboration. Buyers engaged more effectively, and data-driven insights empowered decision-making. Supplier interactions became transparent, fostering trust” — Jay Holton, Global Director - Center of Excellence, Procurement at Alcoa To learn more about our partnership with Alcoa, be sure to check out our most recent case study, available on our site now: https://lnkd.in/e4X4GYUx
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"With Fairmarkit, we streamlined the source-to-PO process, ensured compliance to specs, compared delivery lead times, and achieved transparency across countries and operating locations. The impact was profound." - Jay Holton Learn more about how Alcoa harnessed the power of Fairmarkit's AI to revolutionize procurement, driving cost savings and efficiency to new heights
“With Fairmarkit, we streamlined the source-to-PO process, ensured compliance to specs, compared delivery lead times, and achieved transparency across countries and operating locations. The impact was profound. Beyond our initial goals, Fairmarkit surprised us. It became a catalyst for collaboration. Buyers engaged more effectively, and data-driven insights empowered decision-making. Supplier interactions became transparent, fostering trust” — Jay Holton, Global Director - Center of Excellence, Procurement at Alcoa To learn more about our partnership with Alcoa, be sure to check out our most recent case study, available on our site now: https://lnkd.in/e4X4GYUx
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Strategic Procurement Leader || Direct & Indirect Spend || Cash Optimization || Risk Management || Procurement Transformation || Commodity Sourcing || Supplier Relationship Excellence || FMCG || Pharma || Advisory
75% of supply chains fell short in 2023. Ready to break that cycle? Nearly 3 in 4 organizations did not meet their desired supply chain and supply chain management capabilities in 2023. Key Takeaways for 2024: 1. Digital transformation is crucial for adaptability and efficiency. 2. Organizations must be prepared to navigate global trade complexities and geopolitical uncertainties. 3. Integrated Business Planning (IBP) will be essential for aligning operations with strategic goals. The bottom line? Organizations must evolve rapidly to stay competitive. The traditional ways of thinking and operating are no longer sufficient to navigate the intricate supply chain landscape - it's time for a major shift in strategy and mindset. Check out the 2024 APQC Supply Chain Priorities and Challenges Report! 👉 https://lnkd.in/gEanFkbR
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Just finished the course “Supply Chain Foundations: Supplier Development and Diversity” by @David Burton AICP MCRP! #supplierdevelopment #sustainablesupplychainmanagement #supplierdiversity.
Certificate of Completion
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💥 💥 💥 8.7X ROI IN ONE YEAR! 💥 💥 💥 "Fairmarkit revolutionized our tail spend management. Before its implementation, our processes were fragmented, manual, and lacked standardization" Check out our latest case study below!
“With Fairmarkit, we streamlined the source-to-PO process, ensured compliance to specs, compared delivery lead times, and achieved transparency across countries and operating locations. The impact was profound. Beyond our initial goals, Fairmarkit surprised us. It became a catalyst for collaboration. Buyers engaged more effectively, and data-driven insights empowered decision-making. Supplier interactions became transparent, fostering trust” — Jay Holton, Global Director - Center of Excellence, Procurement at Alcoa To learn more about our partnership with Alcoa, be sure to check out our most recent case study, available on our site now: https://lnkd.in/e4X4GYUx
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"Alcoa generates cost-savings and sourcing efficiency using Fairmarkit’s AI in a volatile market" Are you seeing these returns? Alcoa is!! * 8.7X ROI in Year 1 * Over 10% Cost Savings * Over 3,000 sourcing events automated * Over 6,500 quotes generated through supplier recommendations Check out our latest case study!
“With Fairmarkit, we streamlined the source-to-PO process, ensured compliance to specs, compared delivery lead times, and achieved transparency across countries and operating locations. The impact was profound. Beyond our initial goals, Fairmarkit surprised us. It became a catalyst for collaboration. Buyers engaged more effectively, and data-driven insights empowered decision-making. Supplier interactions became transparent, fostering trust” — Jay Holton, Global Director - Center of Excellence, Procurement at Alcoa To learn more about our partnership with Alcoa, be sure to check out our most recent case study, available on our site now: https://lnkd.in/e4X4GYUx
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Our recent webinar, presented by Annemarie Joyce, highlighted some of the key features of our Supplier Quality Management Solution. In today's fast-paced industry, fostering strong supplier relationships is vital for maintaining product quality and compliance. Annemarie showcased how our solution empowers you with the tools needed to enhance collaboration and drive success across your supply chain. 🔍 If you missed the live session, you can access the full recording here: https://ow.ly/L9g250T4NVI ✔️ Have questions or wish to see our system in action? Connect with us here: https://ow.ly/PCAf50T4NVK #SupplierQualityManagement #SupplierRelationships #SupplyChainSuccess
Mindful too that covering over 10,000 miles brings with it the responsibility to seek actions that create positive outcomes for people and planet as well as profit so as to more than make up for the approx 3 tonne CO2e that the trip generated. Just one more benefit of keeping impact front of mind.