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Month: January 2023

Difference between Indirect Spend and Goods-Not-for-Resale

Posted on by Lumatrak
Indirect Spend Categories
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 me to the retail sector, after a number of years in manufacturing. I was familiar with the term indirect spend but had never heard the term GNFR. So, after more than a decade in retail ...
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Onshoring Considerations

Posted on by Lumatrak
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 on foreign suppliers and consider the advantages of onshoring, or producing goods and services domestically. Shipment containers from offshoring Mitigating Risk from for...
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Managing Supply Chain Pinch Points

Posted on by Lumatrak
Texas sign shown frozen during a winter storm
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 options. Winter storms causing supply disruptions In 2021 and 2022, we experienced supply disruptions within our refrigerated systems category despite being sourced with multiple suppliers. In February 2021, the south-central regio...
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Managing Supply Chain Risk

Posted on by Lumatrak
Visual representation of a multitiered supply chain
Managing Supply Chain Risk 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. Multitiered Supplier Diversity A common supply chain risk mitigation strategy is to source to multiple suppliers when a product is strategic or has significant volume. As a product, and the associated supply chain for th...
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