The procurement and supply chain world is getting more complicated by the day. Companies have infinitely greater choice in what types of global suppliers they can do business with – and by what means goods and services are delivered and serviced around the world. But organizations must also increasingly serve global markets and customers with different sets of expectations. And cost pressures and the drive for year-over-year supplier concessions must now be balanced against trade and regulatory issues and concerns.
These areas only begin to showcase the complexity of the modern sourcing and supply chain world. Commodity, currency, and general macroeconomic volatility has gone from boardroom footnotes to a topic of everyday management consideration. And corporate social responsibility (CSR) expectations and programs are driving companies to make decisions that can adversely affect traditional KPIs in exchange for adding new ones, which most be measured and managed in addition to the rest.
In short, the growing complexity of procurement and supply chain activities present truly amazing possibilities but also confusion, uncertainty, and risk with no guarantee of better transparency – in fact the opposite can be the case. In this world, traditional strategic sourcing and supply chain design approaches tend to break down as additional layers of complexity are added, forcing companies to make decisions using select information rather than exploring the unlimited potential that new supply chains can bring.
Yet there is hope for changing how we think about sourcing and designing supply chains and supply networks in a world of increasing complexity. And Trade Extensions, whose technology is often used in a narrow manner as a best of breed solutions for logistics sourcing, is perhaps the one provider that is ideally suited to help companies embrace this complexity far beyond just the movement of goods. Indeed, Trade Extensions have an exceptional list of truly radical sourcing customer stories already that will stop seasoned experts dead in their tracks by showing what is possible.
What makes Trade Extensions unique are these stories of sourcing and supply chain design coming together across diverse categories ranging from direct materials to contingent labor to packaging to printing at all tiers of the supply chain. If you want to up your sourcing and supply chain game and learn the art of the possible, there is simply no other provider like Trade Extensions that we’ve come across. For this reason, it’s a no-brainer to include them on the Spend Matters 50/50 lists (Providers to Watch and Providers to Know) as a Provider to Know.
Trust us. A few days spent challenging the Trade Extensions team to model your most complex potential sourcing and supply chain decisions, including all the types of variables that I just mentioned above, will open your eyes to a new procurement world, one that we couldn’t have fathomed even a decade ago.