Supply Chain Glossary

Request for Quote

Definition
A document soliciting price quotes from vendors for a selected product or service.


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Solving supplier traceability in modern supply chains
As traceability programs become a business requirement, the appropriate platform combining publicly available data and AI tools can enable companies to move beyond base-level traceability.
Boeing reins in spending; Education; Sustainability and Hurricane Beryl
Earlier this year, Boeing’s Tiffany Andrews joined Fairmarkit’s Erin McFarlane on stage at the ISM World Conference to discuss how the aircraft giant has leaned into artificial intelligence to get better control of its tail spend and land its…
Boeing turned to Fairmarkit, AI to help land its tail spend
Boeing faced unknown spending, but a pilot program using Fairmarkit’s artificial intelligence platform helped bring its procurement spending into the light.
Chatbot is not the answer: Practical LLM use cases in supply chain
Chatbots are the choice many make when implementing large language models, but for supply chains, there are better alternatives that provide more immediate value.
The times they are a-changin’ for the 3PL industry
With apologies to Bob Dylan, the next two to five years will see a shift to asset-driven companies.
Beyond Industry 4.0 - Building the Internet of Production
What is needed is a systemic approach that reviews policy and governance, business management and global trade with fresh eyes to evaluate what should be kept and what can be built upon further or even changed completely.
Leveraging SCM Digitization to Attack New Markets
The proliferation of digital supply chain management solutions has put even more pressure on global supply chain managers to set up freight transportation networks in regions that many may have never even visited. In turn, today's freight…
Book Excerpt: Procurement maturity: Understanding performance versus value
For years, procurement was boxed into a corner. Its function was limited to negotiating with suppliers to get a better price. Even today, much of procurement is about leveraging an organization's scale to obtain quantity discounts. At the…
 
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