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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Collaborative Response

Posted on by Lumatrak
Collaborative Responses
Creating a Collaborative Platform 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. Disparate teams collaborate together Increasing collaboration between your teams Today, I want to focu...
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Outcome Analysis

Posted on by Lumatrak
Impact Analysis
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 Material delivery to projects is critical to the success of opening stores on schedule. Delayed materials result in missing dates. In some cases, a project would be left incomp...
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Advanced Analytics

Posted on by Lumatrak
Benefitting from using advanced analytics
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 enterprise The next step in the digitization journey is to create a way to present this information to your stakeholders. The information has to be clear, useful...
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Continuous Intelligence

Posted on by Lumatrak
Continuous intelligence visualization
Continuous Intelligence Last week, we shared the components of a digitized supply chain. These are: Continuous Intelligence Advanced Analytics Outcome Analysis Collaborative Responses Unpacking Continuous Intelligence Today, we're going to unpack the idea of Continuous Intelligence. Prior to digitizing the supply chain, there's a lot of wasted time and resources in research, supplier communications, and business level communications to track and expedite materials to ...
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Managing Supply Chain Resiliency

Posted on by Lumatrak
Strong Supply Chain
Managing Supply Chain Resiliency This note is the first in a series where Hal Capshaw will share his experiences leading a multi-billion-dollar procurement team. Lessons from Covid-19 One of the most important lessons of Covid-19 on the supply chain professional is the need to access real-time, accurate information about the status of the supply chain. And, the need to build resiliency into the supply chain to offset the inevitable disruptions. Digitizing your Supply Chain Wh...
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Introducing Lumatrak’s Newest Team Member

Posted on by Lumatrak
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 fixtures, equipment and systems, building materials and services. Supply Chain Challenges Hal Faced Hal's team constantly faced challenges without clear visibility to their supplie...
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Understanding the Value of Using 3PL for GNFR

Posted on by Daniel Lansky
3PL organizing their facility to service a retailer's changing needs
Understanding the Value of Using 3PL for GNFR 3PL organizing their facility to service a retailer's ever changing needs. Third-party logistics services (3PLs) are often used by big companies for nearly all of their logistics needs. However, 3PLs today have taken on a lot more responsibility for their customers than when they first came into existence. Due to their inherent flexibility to expand and contract, 3PLs have become a popular choice to manage GNFR storage and freight costs. Wh...
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Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend

Posted on by Daniel Lansky
Taming the beast of Indirect Spend
Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend Controlling On-Time Delivery (OTD) of GNFR purchases is a major means to protect and safeguard the enterprise’s valuable capital. Late deliveries and failures to deliver can negatively impact operations and prevent the on-time completion of mission critical projects resulting in huge losses. Gaining control of On-Time Delivery to mitigate these risks is critical. What Is On-Time Delivery C...
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Understanding the Difference Between P2P and On-Time Delivery Control for Indirect Spend

Posted on by Daniel Lansky
Understanding the Difference Between P2P and On-Time Delivery Control for Indirect Spend P2P (Purchase-to-Pay) and On-Time Delivery Control systems are often mistaken as being identical, but in fact, they are fundamentally different. P2P is the financial processes connecting purchasing to invoice settlement whereas On-Time Delivery Control ensures the on-time delivery of purchases. Neither system competes with the other, but instead are entirely complementary. When implemented together, ...
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