Whitepapers
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Lowering total cost (tco) using the kraljic matrix
The Kraljic Matrix is an important tool for understanding the importance of procurement by segmenting it into categories and developing a strategy for each category.
Project procurement in the mechanical engineering industry
The purpose of this white paper is to explore the unique challenges and opportunities of project procurement in the mechanical engineering industry and contrast them with procurement practices in other industries.
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News
What is the meaning of SKU?
A SKU, or Stock Keeping Unit, is a unique code used to identify a specific product that is in stock. This alphanumeric code is indispensable for inventory management and logistics operations, as it allows products to be tracked and managed. SKUs can contain information about a product’s features, such as
What is meant by the 80 20 rule?
The 80/20 rule, also known as the Pareto principle, is an economic rule that states that 80% of all results come from 20% of all efforts. This rule was first introduced by Italian economist Vilfredo Pareto, who discovered that 80% of the land in Italy was owned by only 20%
What does 3PL & 4 PL mean?
The terms 3PL (Third-Party Logistics) and 4PL (Fourth-Party Logistics) play an important role in supply chain management today. But what exactly do those terms mean? 3PL refers to a logistics service provider that outsources specific logistics functions, such as transportation, warehousing and distribution, to an external party. These service providers
What is a freight forwarder?
A freight forwarder, also known as a forwarding agent, is an essential link in the logistics chain. This party organizes and coordinates the transportation of goods from one location to another. In this context, the necessary means of transportation, such as trucks, ships or aircraft, must be arranged and the
