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Articles in category: Leadership
The Deloitte CPO Global Survey is a benchmark indicator of procurement sentiment, tracking key indicators such as CPOs perception of cost, supply market and price volatility.
The CPO survey results focuses on key procurement topics including market outlook, business engagement, talent, risk and technology. In it, we make a case for steps to broaden capabilities and transform the procurement function into a multi-speed gear box that must be:(Read Full Article)
CPOs around the world may have some sleepless nights in 2015 as they defend themselves and their companies against powerful disruptive forces.
In the true spirit of social media, I’ll highlight just five of these disruptive forces and have created the convenient “METOO” acronym to cover – Markets, Ethics, Transparency, Optionality and Organisational alignment.
2015 is the time to make sure you have your bases covered in these areas:
In our latest 2015 Trend Report, we surveyed CPOs around the world to understand their strategic intentions for the next twelve months. Will procurement headcount increase or not? And, what about procurement technology, and risk management?(Read Full Article)
Procurement is often a company’s biggest cost item, in some industries accounting for as much as 80% of total costs. And it is often one of the first areas companies target for cost savings. However, when companies set out to gain those benefits, they often find themselves face to face [...](Read Full Article)
We rightly celebrate examples of high ethical standards in procurement and supply chain and rightly criticize apparent lack of such standards as well. There is plenty to celebrate today, but unfortunately also plenty to criticize.
Successful athletes and successful business people have much in common, including drive, determination, perseverance, creativity, versatility, and adaptability to changing circumstances. Often, successful athletes become successful business people.
Nowadays IT procurement is not simply managing the vendor relationship, but it includes the pursuit of the business value behind any investment. Ensure that any service agreement and goods is properly attached to the right business value, If it is only the fact of procuring, you might have a partial view of the problem. In weaker organizations, there isn't much of a tight alignment between the cross-functional groups (IT typically does their own procurement without much involvement from a central group).(Read Full Article)
Do you believe that your suppliers think it is worth the time and effort to bring you the innovations you are looking for to grow your business in a sustainable way? Procurement can be a key driver if the right resources, processes, incentives and metrics are established. Are you ready to engage your suppliers to unlock the value from them?(Read Full Article)
Closer Relationship With Suppliers
Increased competition, higher consumer expectations and shifting attitudes towards the environmental and social impact of products and services means that today, the development time is compressed, and the expected lifetime of a product is becoming ever ...
It is stating the obvious to say ‘our world is changing’. What is not obvious is how many of the changes link with others to become major forces and trends that will determine much of our future.(Read Full Article)
The recession and other business factors put procurement in the spotlight in 2014. The horse meat scandal that engulfed several supermarkets and slave wages in the supply chain of some clothes retailers are just a few examples. The demand for better supply management is likely to intensify in 2015 and beyond. Procurement functions will need to up their game to meet expectations! Here are some top tips for propelling your procurement success in the year ahead: • Think ‘people’ not ‘purchasing’.(Read Full Article)
There’s a right way and a wrong way to do everything. Bullying suppliers into slashing their prices, as alleged in this report last week, is the wrong way to control costs. While the report concerns a UK company in the retailing industry, the practice of bullying is in no way restricted to that industry or country. US automotive manufacturers were notorious in the past for their hardball tactics with suppliers, though today they see the value of collaboration. Some miners in North America were bringing heavy pressure on suppliers to slash prices last summer.(Read Full Article)
At the end of November, the local chapter of WEConnect – a global voluntary organisation of women-owned enterprises – held an event to celebrate their first full year of presence in SA, and the guests of honour where budding women business owners.(Read Full Article)
You can get far in life if you are efficient. To be efficient is to be well-organised and competent. Other words we use to describe efficiency are “methodical”, “systematic”, “structured”, “well planned”, “logical”, “coherent”, “orderly”, “businesslike” and “productive”. If you demonstrate these types of qualities you are likely to be in high demand in your workplace and you could be promoted to higher positions. You will be the “go-to person” to get things done.
ANGLO American plans to cut its global workforce by 60,000 people to 102,000 by 2017, with restructuring across its range of businesses and commodities as it seeks to drive up profits in a tough global market.
Anglo will know by the end of March next year whether it will list or sell its Rustenburg and Union platinum mines as it focuses on low-cost, high-margin, mechanised assets, removing about 20,000 employees from its books at a stroke.(Read Full Article)
A great deal of focus and writing on procurement has been on the relatively simple context of a large and powerful buying organisation, procuring an uncomplicated product or service from an acquiescent supplier. However, things are not as simple as that and real-life procurement is a far more complex issue.(Read Full Article)
A.T. Kearney's 2014 AEP Study finds that the best procurement organizations are at the top of their game. Meanwhile, the rest of the pack is treading water and wondering what's next for procurement.
On the one hand, the study found that the best large companies, defined as organizations with more than $15 billion in revenue, “have achieved breakthrough financial results from procurement.” That is consistent across industry verticals.(Read Full Article)
Want to know how to make stakeholder management a lot easier? Develop some stakeholder empathy.
Yes, I know what you’re saying to yourself: "There’s no place in business for something as mushy as empathy. And besides, it’s hard to identify with other functions with outlooks so different from mine." Well, maybe they’re not so different.
I thought of that recently when I stumbled across a research study from 2013. Its title is "The Mind of the Engineer," and it blows away some common misconceptions about the folks who design the products that bring revenue to companies ...(Read Full Article)
The who’s who of African procurement descended on the Premier Hotel OR Tambo on 30 October for the CIPS Pan African Procurement Awards 2014. The prestigious annual event is run by The Chartered Institute of Procurement and Supply (CIPS) and in association with State Owned Enterprise Procurement Forum (SOEPF).(Read Full Article)
Take a moment to consider your own behaviour and what drives it: Do you sometimes behave at work in ways that you later regret, thinking ‘where did that come from’? Isn’t it more common to hear unsympathetic remarks about others than forgiving ones?(Read Full Article)
A procurement boss’ time is at a premium but by placing themselves at arms-length of day-to-day procurement negotiations they stand a chance to focus on more strategic issues, give their team a confidence boost and help work through any impasses.
It may sound like sacrilege to a weathered procurement professional but perhaps one of the most effective things you can do as a CPO during supplier negotiations is to remove yourself from the day-to-day process of it.
Throughout the course of business history, there have been events or market shifts that have either positively impacted concepts such as technology and innovation of processes / programs or caused financial upheaval and a devastated marketplace. Events that seemingly “come out of nowhere” and cause such havoc are known as “black swan events.
Is procurement due for a black swan event of its own that will alter the way Chief Procurement Officers (CPOs) look at their processes, capabilities, and solutions?
By the very definition of these events, the simple answer is “No, they can’t be predicted, right?” No matter the ...(Read Full Article)
Without getting mired in the detail, the time has come for procurement to consider how its collective professional identity has formed and developed. And yet we are unquestionably a product of our professional past, we are also at times a ’prisoner’ of that heritage, managing everything but owning nothing.
To some extent the handcuffs on procurement relate to the notion of and deference to ’best’ practice. There can be no best practice. Best must be judged in context; it is relative to needs and circumstances. Another way of looking at it is to ask: what is right for this organisation?(Read Full Article)
The issue of realising a return on investment from services spend is one of the biggest challenges for procurement. What, then, can we learn from those who have made inroads here?
Measuring the value of in-tangible services can be difficult, especially with, say, marketing services such as advertising in which you can often have very little to go on to derive the success achieved as a result of the campaign.
However, what is essential to start accomplishing control over this spend is firstly to gain transparency over how much your company is spending on professional services(Read Full Article)
The 2014 mid-term elections in the US have proven that sustainability is indeed a national issue, one that demands attention not just from business executives, including CPOs, but by political candidates and elected officials.(Read Full Article)
The New York Times reports that ads mentioning the elements of sustainability – energy conservation, efforts on climate change, and environmental-protection strategy – have surged to record levels in the election cycle, which concludes with voting across the country Tuesday, 4 November 2014.
There’s a growing consensus that companies need strong, independent boards full of qualified directors if they are to sidestep risks and seize opportunities in our complex and dynamic international economy. Being generally “impressive” is no longer enough—investors and corporate watchdogs expect a well-defined rationale for each appointment, an articulation of how the board member will provide meaningful oversight and counsel on critical issues.(Read Full Article)