What is Digital Transformation? According to Wikipedia Digital transformation (DX) is the adoption of digital technology by an organization. Common goals for its implementation are to improve efficiency, value or innovation. Also according to Wikipedia, digitization is the process of converting analog information into digital form using an analog-to-digital converter, such as in an image scanner or for digital audio recordings.…
What is universal waste? What does making the sustainable procurement pledge mean to the sourcing professional tasked with procuring the services of a universal waste handler? You already know that as a supply management professional, you have a responsibility to champion sustainability and social responsibility practices within the supply management space. Let us then define…
What is sustainability in procurement? What does a Sustainable Procurement Pledge mean to the buyer just starting out? As a supply management professional, you have a responsibility to champion sustainability and social responsibility practices within the supply management space. As that professional (buyer, senior buyer, analyst, category lead, sourcing manager, director and CPO), you can…
What is ESG? Wikipedia defines the term as follows: Environmental, Social, and Corporate Governance is an evaluation of a firm’s collective conscientiousness for social and environmental factors. It is typically a score that is compiled from data collected surrounding specific metrics related to intangible assets within the enterprise. It could be considered a form of…
According to Wikipedia, a contract is a legally enforceable agreement that creates, defines, and governs mutual rights and obligations among its parties. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party…
What is category management? Let us first define it, Wikipedia defines category management as an approach to the organization of purchasing within a business organization. Applying category management to purchasing activity benefits organizations by providing an approach to reduce the cost of buying goods and services, reduce risk in the supply chain, increase overall value…
What is ESG? Wikipedia defines the term as follows: Environmental, Social, and Corporate Governance is an evaluation of a firm’s collective conscientiousness for social and environmental factors. It is typically a score that is compiled from data collected surrounding specific metrics related to intangible assets within the enterprise. It could be considered a form of…