Understanding the Impact of GNFR costs In a retail business, understanding the impact of Goods-Not-for-Resale (GNFR) costs is crucial for maintaining profitability and ensuring long-term success. GNFR costs refer to the expenses incurred on items that a business purchases for its own use, rather than [Read More]
Supplier Evaluation Reasons for reviewing existing Suppliers Regularly reviewing and evaluating the performance of existing suppliers is extremely important in the Goods-Not-for-Resale (GNFR) space of retail. There are several reasons why regular supplier performance reviews are important: Identifying areas for improvement Regular reviews allow a [Read More]
Difference between Indirect Spend and Goods-Not-for-Resale Indirect Spend Categories Indirect spend and GNFR are two terms that are often used in the context of business expenses, but they refer to slightly different things. I was introduced to the term GNFR (Goods-not-for-Resale) when my career brought [Read More]
Onshoring Considerations In today’s globalized economy, many companies have turned to offshoring, or outsourcing the production of goods and services to countries with lower labor and production costs. However, the current climate of multiple supply chain disruptions has led some companies to re-evaluate their reliance [Read More]
Pinch Points Affecting Supply Chains Last week, I discussed some of my more general risk mitigation strategies. This week, I’m going to focus on a specific example of a pinch point within the supply chain. A pinch point is a product that has limited sourcing [Read More]
Last month, I finished my email series discussing my supply chain digitization journey. Moving forward, I will continue sharing my experiences in managing $3.5 billion in indirect spend. Today, I will open up discussing Supply Chain Risk.
Over the last several weeks, I have talked about my supply chain digitization journey while managing a multi-billion-dollar procurement organization for one of the largest retailers in the US. Over a period of several years, we developed a platform that provided continuous intelligence, advanced analytics, and outcome analysis for our supply chain.
Outcome Analysis Last week, we touched on Advanced Analytics and the need to share supply chain status information with the broader stakeholder group in a clear, useful, predictive and actionable form. We achieved this through developing stakeholder specific modules. Importance of getting my purchases onsite [Read More]
Advanced Analytics Last week, we discussed Continuous Intelligence. When embarking on digitizing your supply chain, a first step is to shift responsibility for communicating current order status onto the suppliers resulting in the collection of real-time, actionable information for the business. Sharing data throughout the [Read More]
Introducing Lumatrak's Newest Team Member Hal Capshaw recently joined Lumatrak after spending over a decade leading the procurement team supporting the real estate division of one of the largest retailers in the country. Hal was responsible for $3 billion in spend across operational supplies, merchandise [Read More]