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Articles in category: Leadership
In organisations where procurement expertise is limited there will be issues to resolve around how and when precious resources should be deployed. How should procurement staff maximise their contribution? What steps could be taken to promote consistent relationship and matter management approaches? How is ownership of actions and accountability for progress and outcomes established?
This article discusses a model for ‘scalable’ procurement – essential considerations and its implementation(Read Full Article)
A Hackett Group report says procurement will focus on three main transformational areas in 2015: cultivating the function’s role as a trusted advisor; investing in next-generation training and development and harnessing big data.(Read Full Article)
People often associate ‘leadership’ with managing others. Indeed, having an effective functional leader is critical for Procurement success; the Procurement leader is the chief architect ...(Read Full Article)
Supplier-enabled innovation is a complex area but it could be the next big opportunity for procurement.
Speaking to the head of supplier innovation at a major consumer brand recently provided me with a fascinating insight into the difficulties procurement faces when trying to tap into the more advanced capabilities of key suppliers.
Most people associate their work with problem-fixing. Very few people view their work as making a contribution to a stronger and better community. New products are developed to solve problems. New systems are implemented and services launched to take care of people’s problems.
Great post Charles. Just to be clear, that quote actually came out of a CPO Agenda Roundtable discussion in which senior execs from major global corporations assessed the role of the buyer/purchaser/procurement person.
Similar to the difference between the term purchasing and procurement – which I believe is largely semantics, the big issue is how the profession is viewed by those from the outside looking in.
Darlene Nicosia takes over as CPO at Coca-Cola as Ronald Lewis moves to Coca-Cola Enterprises to become senior vice president, supply chain. © Coca-Cola Company Coca-Cola has appointed a new chief procurement officer, ahead of the departure of the current CPO to one of its biggest bottlers.(Read Full Article)
Any discussion of the future of procurement has to include a discussion of the role data analytics – or “big data” – will play. In many respects, it may well be the future of procurement.(Read Full Article)
A report recommends a “professionally resourced procurement and contract management function within the civil service” should be established, and that a “Labour government’s approach to UK public procurement needs to be strategic rather than ad hoc, taking full advantage of the freedoms allowed under EU law to align government contracting with Labour’s wider political goals and underlying values”.(Read Full Article)
Provides guidance on how procurement specialists can use NLP (Neuro Linguistic Programming) to improve their communication skills and their ability to influence stakeholders and suppliers.(Read Full Article)
Procurement is changing, there is no denying that. But as the function changes what skills will the CPOs of the future need to help them make a difference to the business?
The procurement function and those that work within it are evolving. No longer does procurement just ’buy the paper clips’. Yes, it saves money but the function also seeks out and develops new groundbreaking innovations and works to reduce risk in the supply chain among many other things.
An organization’s procurement function is fast becoming a key component of its overall strategic approach for top line growth. Chief Procurement Officers (CPOs) are now being given a seat at the strategic decision-making table, as business heads rely on them for competitive advantage. In the light of the enlarged role and increasing importance of procurement departments worldwide, The Smart Cube highlights some key focus areas to consider when de...(Read Full Article)
Will this be the year procurement finally evolves from its “cost center” image to one that will gladden the hearts of corporate CFOs worldwide? Researchers at the IBM Institute for Business Value (IBV) think so, and present a compelling argument that change in perception is well underway.
In “The journey to value – Transforming procurement to drive the enterprise agenda,” IBM reveals how it worked with The Economist Intelligence Unit (EIU) to obtain management feedback on the current state of procurement. While most of the answers were hardly startling, a new pattern is clearly emerging in the global marketplace(Read Full Article)
Is formal legislation the way to bring down payment terms that stretch beyond 60 days, and what role should procurement play?
As a business community, what can or should we be doing about the length of payment terms? Over the last few months there have been a number of stories to hit the headlines criticising the likes of Diageo, Mars and Mondelez over plans to increase their supplier payment terms.
The ability to connect with an audience is critical in getting your key message and the content of your presentation across. It is so important that it must be considered a make or break factor. If you hook the audience from the start, you have immediately increased your chances of keeping them engaged.(Read Full Article)
Telkom’s chief procurement officer Ian Russell took up the mantel a year ago, at a time of great change for the telecommunications giant. Facing industry disruptions and aggressive competition, Telkom is looking to improve its offerings and provide better customer care – all while meeting ambitious cost savings goals. Enter a revamped procurement strategy to the rescue.(Read Full Article)
The saying goes: “The only constant is change.” Nowhere is that statement truer than in procurement!
If you’re a procurement professional and you haven’t adapted to new ways of carrying out your work, the world is passing you by. But it’s not enough to try to get to where procurement is today. You must prepare for the future of these important business functions.
We here at the Next Level Purchasing Association asked procurement experts across the world their predictions and greatest challenges they expect to tackle in 2015. As expected, we received a rather diverse range of ...(Read Full Article)
Ian Ballentine, procurement director at Heathrow Airport, was offered a seat on the executive committee if he could “reshape” the function within a year of joining the firm. Ballentine told SM about the deal, struck with the then chief executive, just over a year after he succeeded in the challenge and took his place at the top table.(Read Full Article)
The first—and arguably most overlooked—opportunity to improve procurement decisions is to take the time to understand and challenge what the business needs. As a category manager, this may seem obvious to you, but I invite you to step back, take a deep breath, and consider asking different questions.(Read Full Article)
CPOs are contributing real value to the organization. Is this really true?
If a new CPO study from IBM’s Institute for Business Value is to be believed, it’s actually starting to happen. The firm surveyed just over 1,000 companies – a sampling that was exceeded only by IBM’s study from the prior year, according to author and research lead Steve Peterson. All of the respondents were companies with annual revenues of $1bn or more.
As procurement takes on a more strategic role, Milan Panchmatia examines how CPOs can make the move to CEO. A bleak economic landscape combined with a global financial crisis saw procurement take on a key role in many businesses’ growth strategies. With traditional growth patterns being undermined across many industries, CEOs turned to procurement to deliver the cost effective initiatives and process innovations that would help improve margins.(Read Full Article)
That was the question asked of me by a CEO of a large multinational corporation. I was sitting next to him at a dinner event, looking forward to talking about how I was working to develop capability within his procurement team. “Ah Procurement… the function that buys the pencils” he said.
I replied, “No, the function that that could make a dramatic contribution to your bottom line but one that needs your full support to do so.” The problem here is not just a CEO who is out of touch with his organization but rather a common and inhibiting mindset ...(Read Full Article)
The doomed ship Titanic has more in common with your business than you probably realise.
Both are massive entities, run by people with years of experience, moving full steam ahead, in a sea of risk, assuming that they’ll be able to see and manoeuvre around any danger that might present itself.
The problem, with both your business and the Titanic, is the unseen danger - the risks below the surface.
Titanic, as we all know, struck an iceberg, which sliced open the hull beneath the surface of the ocean. If your business isn’t careful, something similar could the same ...
When can payment for goods received reasonably be expected? A buyer buys from a supplier, supplier gets paid; it’s the foundation of any business. But what happens when the balance of power sits so definitively with the buyer?
In this guest post, Procurement Leaders invites Accounts Payable News editor Ellen Leith to share her views on the recent scrutiny of payment terms and to look at what kind of options are available to procurement teams.