Posted: November 30th, 2013 | Author: Rod Sherkin | Filed under: Gem, What's Happening in Our Profession | Tags: best practice, survey | No Comments »
Back in 2003, we created a simple, on-line survey to help Purchasing Professionals gauge their organization’s overall purchasing effectiveness.
The goals were to first measure attitudes and practices, and then offer concrete suggestions for making improvements. The initiative was successful: almost 3,000 people participated.
One of our readers had a great idea – why not re-do the survey? We could compare new results to the original numbers and see if there’s been a shift in attitudes and practices, over the past 7 years.
These 7 areas are covered and answers range between strongly agree and strongly disagree.
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Posted: November 25th, 2013 | Author: Rod Sherkin | Filed under: Energy, Natural Gas, USA | Tags: energy, natural gas future, natural gas price, natural gas USA | No Comments »
Natural gas futures rose Monday, climbing for the fourth straight session, as traders bet that a powerful winter storm moving toward the East Coast, along with a recent cold spell, would boost demand for the heating fuel.
Natural gas for December delivery added 4.1 cents, or 1.1%, to $3.810 a million British thermal units on the New York Mercantile Exchange, earlier reaching their highest price since Oct. 16.
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Posted: November 23rd, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Brazil, Sugar | Tags: sugar, sugar brazil, sugar future, sugar glut, sugar india, sugar ourput, sugar price, sugar surplus | No Comments »
After a temporary jump last month due to Copersucar‘s terminal facilities fire, the raw-sugar futures fell 0.6% Friday, their lowest level since Sept. 19, to end at 17.40 cents a pound on the ICE Futures U.S. exchange as dry weather allowed Brazilian mills to process plenty of cane, adding to a global glut.
Stockpiles will increase 0.5 percent to 43.379 million metric tons in the marketing period ending in 2014 for most countries from a year earlier, the U.S. Department of Agriculture said today in its November 2013 Sugar World Markets and Trade report . That topped a May forecast by 13 percent. Thailand’s output will climb to a record 10.9 million tons, up 9 percent from a year earlier and 3.8 percent more than estimated in May.
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Posted: November 20th, 2013 | Author: Rod Sherkin | Filed under: Best practices, Gem, Negotiating with Suppliers, What's Happening in Our Profession | Tags: best practice, negotiation, steel, supplier | 1 Comment »
Years ago, while working for Green Giant, I phoned our steel can sales rep to ask for a 4% reduction. We had information suggesting steel prices had fallen 8%.
He certainly wasn’t very happy and, as expected, argued against any decrease.
“Are you saying you’re still purchasing steel at the same price as before?” I asked. “That would be surprising.”
“Um… no, of course not”, he said, “but look – let me get back to you.”
To learn more, follow the Negotiating Nugget on Propurchaser.
Posted: November 15th, 2013 | Author: Rod Sherkin | Filed under: Gem, What's Happening in Our Profession | Tags: best practice, plant tour | No Comments »
The struggle to find “good fit” suppliers never ends. And finding the right suppliers has never been more important than right now. The global recession has put many companies’ very survival at stake.
How do you make sure – really sure – that your supplier is capable of going the distance providing you with the price, quality and service that your company and your customers demand?
Well, you could take the sales rep’s word for it. But we strongly suggest you see for yourself.
Simple as it sounds, an actual tour is the best way to gather reliable information about your supplier‘s all-important cost drivers, quality commitment and service culture.
Read the rest of Plant Tours Worth every Minute » » »
Posted: November 14th, 2013 | Author: Rod Sherkin | Filed under: China, Labor | Tags: china, china labor cost, china labor shortage, china productivity, china robot | No Comments »
From 2005 to 2012, average labor costs in Zhejiang, a hub for private manufacturing enterprises, almost tripled from 14,847 yuan to 41,370 yuan ($6,800) a year, an annual increase of nearly 16 percent.
Zhejiang province is to invest 500 billion yuan ($82 billion) over the next five years to encourage manufacturers to adopt more robots to overcome the short supply and high cost of labor.
The program is underway and will help at least 5,000 companies a year, a source with the investment division of the Zhejiang Economic and Information Commission told China Daily, without giving details.
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Posted: November 14th, 2013 | Author: Rod Sherkin | Filed under: Energy, Natural Gas, USA | Tags: EIA, EIA steo, energy, energy.natural gas, natural gas, natural gas future, natural gas price | No Comments »
Natural gas for December delivery fell 5.1 cents to settle at $3.566 per million British thermal units in New York yesterday, breaking a six-day streak of gains, after prices on Tuesday rose to $3.617, the highest closing price since Oct.30.
Natural gas futures dropped from a two-week high in New York amid speculation that a government report tomorrow will show a U.S. inventory gain that’s above average for this time of year.
Gas slid 1.4 percent as the Energy Information Administration may say stockpiles expanded by 22 billion cubic feet last week, based on the median of 18 analyst estimates compiled by Bloomberg. Estimates ranged from gains of 2 billion to 33 billion. The five-year average injection for the week is 19 billion. Supplies fell 12 billion a year earlier.
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Posted: November 14th, 2013 | Author: Rod Sherkin | Filed under: China, Copper, Europe, USA | Tags: china, Copper, copper china, copper europe, copper future, copper price, copper usa | No Comments »
Copper fell 2.3% on Wednesdays to $3.1595 a pound on the Comex division of the New York Mercantile Exchange, the lowest price since July 31. So far this year, the price declined 12 percent.
Copper futures fell to a three-month low as investors bet that the economic policies laid out by China‘s leadership wouldn’t do enough to boost growth in the world’s top metals consumer.
Copper has been sliding since Tuesday after China’s Third Plenum — a four-day meeting that sets government economic policy for the world’s second – largest economy—released a broad blueprint calling for markets to play a more “decisive” role in economic matters.
Read the rest of US, China and EU data drive copper to lowest in 3 months » » »
Posted: November 9th, 2013 | Author: Rod Sherkin | Filed under: Food, USA | Tags: citrus greening, orange, orange florida, orange juice, orange juice future, orange juice price, orange juice supply | No Comments »
In its first Citrus report of the crop year that began Oct. 1, the USDA forecasts that Florida growers would reap 125 million 90-pound boxes of oranges. That would be the smallest harvest since 1989-1990, when a freeze hit the state’s groves.
Orange juice futures jumped the most in eight months after the U.S. government said that Florida’s crop, the world’s second-biggest, will shrink 6.4 percent to the smallest since 1990 after a crop disease damaged groves.
Read the rest of Orange juice futures higher on citrus greening, a crop disease » » »
Posted: November 7th, 2013 | Author: Rod Sherkin | Filed under: Metals, Nickel, Stainless Steel | Tags: nickel, nickel future, nickel glut, nickel inventory, nickel output, nickel price, nickel production, nickel supply | No Comments »
Nickel stockpiles tracked by the London Metal Exchange, which have surged 71 percent this year, reached an all-time high of 239,958 metric tons yesterday. This is a market in chronic oversupply resulting from systemic over-production.
Nickel dropped to a two-week low in London as record inventories are fueling concern that ample supplies will overwhelm demand for the metal, used to make stainless steel. Copper also slid.
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