11:03 am: Some things to take away — how sourcing tech can not only drive new negotiation models, but new info discovery models, and learning to solicit and explore the pricing of your materials. There are more, but explore Spend Matters’ and MetalMiner’s whitepapers further for the complete lowdown!
11:01 am: Put information discovery first; collect as many supply chain data points as you can; and evaluate as many suppliers as you can — more, not fewer, is the key here.
11:00 am: Huge variability in transportation costs; container rates have been up and down the last few years. If you’re not tracking the Baltic Dry Index already, you probably should be.
10:57 am: “An oldie but a goodie” — total landed cost model overview. Flashbacks to the International Trade Policy Breaking Point Conference…
10:55 am: There are almost too many options to hedge against commodity price risk — so have suppliers bid different time frames, and check those premiums, Lisa says. See if you can take risk out yourself, or hire a third party to do so.
10:52 am: Lisa hints at why reshoring is just as good a choice these days…
10:50 am: What does demand aggregation do for us? Consolidating multiple independent buys is the name of the game to achieve discounts. A big benefit is creating win-win scenarios – resulting in sizable cost savings.
10:47 am: Act more like a “modern military” — you need to be equipped with more information than your suppliers! “Souring information asymmetry”, as Spend Matters puts it.
10:45 am: Audience interaction component: How many of you participated via reverse auction? Fewer are still doing it. There’s a reason for that — what we’re seeing companies do is wanting to buy “security of supply” and manage risk and their supply chain more effectively.
10:43 am: Many more Harbor attendees have heard of MetalMiner this year! 10-15 people raised their hands…thanks for reading, guys!
10:41 am: The premise…helping you source.
10:39 am: Lisa not the only female speaker at the conference for once! So there goes her kickoff line…shucks.
Welcome to the live blog of Lisa’s presentation!