Read About: Just-In-Time Systems, Sourcing and Procurement Employee Turnover, Warehouse Management Performance, Rates Hikes, Emissions, AI Policy, Autonomous Rail

Across the manufacturing and service sectors the largest percentage of companies, 38%, use 45-day payment terms. Meanwhile 36% use 30-day terms, 1% use 75-day terms and 11% use 90-day terms.

Read About: Establishing a Supply Management Center of Excellence, Supply Management ROI, U.S., China Ease Trade Tensions, Trucking Challenges

Top skills and capabilities needed in 2023 for Supply Management Centers of Excellence (SM COE) employees include problem solving, supply management experience, and cooperation.

The latest from CAPS News: CAPS Flagship Survey, Supply Management KPI's, Best Cost Countries, Before Investing in AI, Cross Boarder, Mineral Imports

Over the past 4 years, the percentage of Supply Management Centers of Excellence (SM COE) in Discrete Manufacturing has decreased, while increasing in Process Manufacturing and Service Sectors.

The latest from CAPS News: History of ESG, Best Cost Countries, Counterfeit Epidemic, Reclaiming Control, Risk Management

On average, 71% of companies surveyed provide monthly updates for net cost reporting, while 35% update quarterly and 12% update annually.

In 2023, the top 3 reasons companies create and use Supply Management Centers of Excellence (SM COE) are to drive standardization, best practices, and skill building.

The latest from CAPS News: Carbon, COE, Shipping, Competitive Advantage, Battery Advancements