Invoicing & Payment,
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Procurement People: Careers, Leadership, People on the move, Talent Management
Articles in category: Leadership
Wax Digital survey shows that IT departments drastically over estimate their own importance when it comes to tech procurement.
The survey showed that 32% of IT departments felt they had the ultimate authority over IT spend. The procurement department sees this differently...(Read Full Article)
If there was any doubt that managing the supply chain is also an exercise in managing risk, just ask someone who works in procurement – particularly the world of direct procurement. These professionals patrol the front lines of the manufacturer-supplier relationship, overseeing their company’s purchasing activity, executing purchase orders, and working with multiple stakeholders to ensure the right materials make it to the right place at an optimal cost.(Read Full Article)
UK businesses could be squandering budgets, using risky suppliers and spending without permission due to a lack of collaboration with procurement, according to research. A study published today by Redshift on behalf of Wax Digital questioned over 200 senior decision makers in finance, IT and sales and marketing departments, and concluded there was an “alarming chasm” between their spending behaviour and procurement processes and rules.(Read Full Article)
Spend visibility is foundational to any procurement transformation because to better manage supply, you have to manage spend. Spend is what you pay and supply is what you get, and to manage spend you have to see it. Yet too many procurement organizations work hard to put basic spend analytics in place but don’t have a broader vision, strategy and roadmap for strategic supply analytics (i.e., the analytic capabilities to support strategic supply management).(Read Full Article)
Andre Coetzee is the managing director of CIPS Africa, a man who needs little introduction within the supply chain and procurement industry locally.(Read Full Article)
Shantell Mackay is the Group Manager for Procurement at Clover. Mackay says she took a roundabout route into the industry, via marketing and sales, security and risk management, until finding herself in performance and reporting in Transnet.(Read Full Article)
Two years ago, Eva Wimmers, SVP of group procurement at Deutsche Telekom tolda conference in London that procurement had evolved over the previous 10 years from a service into a function. And yet today the buzz seems to be about ’Procurement-as-a-Service’ (Paas): this is where the value lies, they cry! Was Eva, a seasoned and very well-respected CPO wrong? Well no, of course not, because the evolution of a service economy coupled with the rise of strategic (rather than tactical) outsourcing since that time is creating a need for something quite different.(Read Full Article)
Take your organization to the next level of performance by getting everyone to act like a CPO.
Procurement and sourcing professionals who want to generate value and realize savings for their organizations have their work cut out for them, but it is possible to do it all. You see, getting everyone in the company to think like a chief procurement officer (CPO) will have a direct impact on your organization’s bottom line. Imagine increasing compliance, reducing risk, and realizing cost savings.(Read Full Article)
Being a trusted advisor means having an ironclad grasp of information. So it’s no surprise that procurement executives interviewed by The Hackett Group say they will invest heavily in learning everything about big data. Being seen as an agile performer means having skills many don’t yet have. And so, those same execs report they will renew training and development efforts to close these capability gaps.(Read Full Article)
Decision-makers in procurement have often been quick to look to software to offer a quick solution to a problem. But sometimes, that approach mirrors the short-termism that infects much of business by ignoring the value that comes from using technology to enable, rather than marginalise suppliers.(Read Full Article)
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.