Invoicing & Payment,
Spend Analysis & Benchmarking,
Supplier Relationship Management,
B2B Social Media: Online Supply Communities, Open Innovation, SM B2B Marketing, SM Customer Driven Support
Industry Groups: Construction, Defence & Aerospace, Education, Financial Services, Healthcare, Manufacturing & Automotive, Public Sector, Resources, Retail & CPG/FMCG, Utilities
Categories / Commodities: Business Travel, Capital Equipment, Construction & Building, Electronic & High Tech, Fuels & Lubricants, Managed Print Services, Marketing & Advertising, Metals & Minerals, Office Suppliers, Services Procurement, Transport & Logistics
Procurement People: Careers, Leadership, People on the move, Talent Management
Often companies make the grievous mistake of not letting procurement select or source the consultant or consulting group to lead process improvement. Lean Six Sigma and Lean are too important to leave in the hands of other departments not familiar with the comprehensive evaluation of a bid or a proposal. In fact, procurement or supply management not only should lead the selection, but lead the entire process improvement transformation. Strongly consider a fixed hourly rate especially for training, but remember that you get what you pay for. Make sure you can retain all the training materials developed during the process.(Read Full Article)
To survive and thrive, companies need to rethink their supply engagement practices. It is no longer acceptable to think that a financial review of a ‘tier-one’ supplier is sufficient protection against potential supply interruption.
Today, we find ourselves with an interesting conundrum; in this time of uncertainty with potential tax changes and further developing regulatory activity, corporations are hoarding cash and are reluctant to invest. Moreover, there is a continuing need to improve processes and strengthen our supply networks in order to become more profitable. Concurrently, risk within the supply network is arguably at an all-time high and appears to ...(Read Full Article)
Your company’s supply chain directly impacts your ability to function as a service or goods provider and earn profits. If you are waiting on supplies or constantly searching for a new supplier, you lose valuable time and focus when it comes to running your business. Here are a few recommended steps that look at the supplier’s financial ratios and give them some context:
Calculate the Supplier’s Profitability Ratios: If a company is not profitable, it likely will not stay in business for long.(Read Full Article)
Outsourcing, i.e., moving the business to focus on its core competency, continues to be one of the key agenda items for many CEOs. When this business strategy is launched, Supply Chain will normally have the responsibility to lead the process. If you are called upon to become a team member or lead a segment of the outsourcing activity, here are some tips for you:(Read Full Article)
By performing a benchmark you are able to answer: Do you have a competitive advantage? What are your strengths and weaknesses in the purchasing function and where should you direct your efforts to improve? Either doing benchmark one-to-one (your company with another company) or one-to-many using third party entities, you need to define the benchmark framework.(Read Full Article)
How often does Procurement talk to Accounts Payable? At some world-class companies, the two have a close relationship. When Heidi Landry-Chan assumed her post as Vice President and CPO at Dow Corning to transform the procurement operation there she understood the value of the two functions working together. For Landry-Chan, it simply makes sense for AP to report to Procurement since Procurement is responsible for the procure-to-pay process.(Read Full Article)
The key question for purchasing professionals: Do you measure and track your risks? We can list at least four risk types: Supplier Risk, Product / Service Risk, Business Risk, Commodity Risk, and in each one you will have different risk drivers.(Read Full Article)
While it is too soon to tell whether the computer industry’s new tablet devices will have an impact on demand for office papers, paper is still too valuable a medium to give up. Boise's Corinne Dubois describes supply and demand factors for uncoated free sheet--a product category that includes copy and office papers as well as some printing papers--and their affect on prices.(Read Full Article)
All team activities, regardless of the type, have a desired outcome. In sports, it's beating the opponent. In business, it's gaining market share and increasing profitability. In sourcing, it's getting the best value for your company when you procure goods and services.
Here are some questions you should ask yourself that will shine a light on your process strengths and opportunities:(Read Full Article)
Procurement professionals will recognize their peers’ collaboration activities at the 11th Annual ProcureCon USA event in Atlanta this fall. The organizations present the awards in three categories:
Collaborative Capability Building: How is procurement taking a more structured approach to building collaborative capabilities within the organization and/or with external partners?
Driving Innovation Through Collaboration: What innovative collaborative efforts are taking place with key suppliers--or customers?
Top Collaboration Team: What makes the team’s collaborative practices, processes and culture exemplary?(Read Full Article)
B2B commerce needs to be a win-win proposition for buyers and suppliers alike. As the buyer-supplier relationship becomes increasingly equal and interdependent, both parties are beginning to expect proven financial benefit and will no longer accept high f…(Read Full Article)
Despite cost benefits strategic sourcing delivers, procurement still is under increasing pressure to find new ways to create savings, says Constantine Limberakis, Senior Research Analyst, Global Supply Management, at Aberdeen Group.(Read Full Article)
Procurement pros would do well to refresh themselves with the following sage tips from some expert tough talkers.
“Both sides need to be able to walk away and say the other was tough, but fair. Buyers should not engage in a ‘kill the vendor’ exercise. It’s not reasonable because you will wreck the relationship. Everyone should negotiate ethically and responsibly and b…(Read Full Article)
We caught up with Mickey North Rizza shortly after she assumed her new post as Vice President of Strategic Services with the spend analysis and strategic sourcing company BravoSolution. North Rizza comes to BravoSolution after having built Gartner’s Supply Chain practice into a respected and influential research practice.…(Read Full Article)
Strategically sourcing is far more than a simple allocation of business to suppliers by the purchasing function. It is a multi-functional activity that produces a plan of action for several years. Successful sourcing strategies are built on a rigorous anal…(Read Full Article)
Whether managing talent or suppliers, procurement professionals attending ProcureCon Indirect West in Las Vegas recently are challenging traditional thinking. This new view or recognition of procurement helps demonstrate the growing value of indirect in an…(Read Full Article)
Kaiser Permanente in Oakland, Calif., and Partners Healthcare in Boston, Mass., both report they are savings millions of dollars this year through substitution of components made from polyvinyl chloride (PVC) with products made from alternative chemistries…(Read Full Article)
Risk management starts with the sourcing process. So says Rose Kelly-Falls, Senior Vice President, Supply Chain Risk Management at Rapid Ratings International. “As companies engage in new programs, they really should be evaluating the financial stability of suppliers they’re doing business with,” she says. “Bankruptcy or any type of supply disruption can be a major impact to the bottom line.”,(Read Full Article)
Organizations do not negotiate with organizations! We need to remember that people negotiate with people, and we should not lose sight of human psychology when we approach the negotiation table. Employ positive emotions to solve problems with your counterparts. Rather than focusing on price, ask about ideas for jointly addressing your needs and inquire about best practices that can work to your mutual benefit.(Read Full Article)
Effective spend management is helping some online retailers carve millions of dollars off their annual shipping expenses. The savings compound when measured over the length of a typical three-year shipping contract.(Read Full Article)
Supply management and procurement leaders at world-class companies agree: To be successful today, their teams must align themselves with their internal customers and regularly participate in professional training to keep their business skills razor sharp. Supply management leaders from such companies as Tyco, American Airlines and Intel shared their experiences with attendees in conference sessions held during a four-day event.(Read Full Article)
CFOs are concerned that the interdependency between suppliers, partners and customers resulting from increasingly complex supply networks is creating commercial risks for procurement operations, according to a report by Basware, provider of e-invoicing ...(Read Full Article)
Procurement and logistics functions are melding. Today, many procurement professionals are equal parts buyer and logistics specialist, and have had to develop skills in both arenas. One of those skills is understanding markets. “All this volatility requires keen market intelligence capabilities to make intelligent decisions and react quickly as things change........(Read Full Article)
So what does that mean for the average buyer? Perhaps nothing…but perhaps an impending shortage somewhere in the supply chain that will impact deliveries several weeks or months from now. And how will the buyer know about it?(Read Full Article)