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  • Guest Post on the Social Contracting Blog: Is there “Tough Love” Embedded in Your Budget Process?

    It is the worst question Procurement ever faces. C'mon – you know what question I'm talking about. That horrible, terrible question from Finance for which there is no good answer… If Procurement worked so hard and saved all of this money, WHERE IS IT? Ugh. The problem is that the space between negotiated and realized savings is full of pitfalls: unexpected requirements, inaccurate demand, and budget holders who see an opportunity to unofficially reallocate savings elsewhere. Even when additional value is created, many times by the end of the year the savings have all but evaporated. This is a problem that has to be handled by the top level of the organization. If the strategic vision of the leadership team requires that all uncommitted funds be returned to a central account, they have to be willing to support Procurement by issuing a mandate. Declaring that all funds saved by Procurement are to be removed from line of business budgets is a tough love decision. But all that really m ...

    by Kelly Barner
    Wednesday, 01 July 2015
  • Procurement Perspectives Podcast: Hear from the 30 Under 30 Supply Chain Stars

    This week our audio comes from the ThomasNet and ISM 30 Under 30 Supply Chain Rising Stars program. They hosted a panel-style interview and discussion with some of the 2014 award recipients at this year’s ISM conference. The full hour-long conversation is available on Sound Cloud if you want to hear it. The podcast starts with each of the participating recipients and program mentors introducing themselves and then moves on to a press-conference style question and answer session with some of the most recognizable names in procurement media – including the Hackett Group, Manufacturing Talk Radio, and Spend Matters. The excerpt I selected to share starts with a question from Supply Chain Management Review’s Editorial Director, Bob Trebilcock, as he asks how these rising stars ended up in supply chain. You can listen to the podcast on the PI Window on Business Blog Talk Radio channel or on our Sound Cloud page. ...

    by Kelly Barner
    Tuesday, 30 June 2015
  • Webinar Recommendations for June 29 – July 3, 2015: Outsourcing Health Checks, Risk Management, and eInvoicing

      Outsourcing Health Check and Readiness Assessment: A Proactive Approach to Achieve Full Potential and Uncover New Value (Neo Group) 6/30, 11am EDT It used to be that when we talked about outsourcing, you could assume that meant offshoring. These days, so much spend is being directed to third parties that we hardly even think of it as outsourcing at all. This event looks clearly at off shored outsourcing spend, and asks three key questions: does your offshore provider achieving the goals you set out, are they creating value beyond just hitting contract KPIs, and are they laying a solid foundation for future growth and improvement?   The Dawn of Risk Management (SIG, IBM) 6/30, 2pm EDT When it comes to artificial intelligence, or AI, we’ve been talking about robotic process automation (RPA) quite a bit here on BMP. But before software robots for outsourcing, there was Watson, the IBM created cognitive system famous for winning a $1 Million prize on Jeopardy! Well, no ...

    by Kelly Barner
    Sunday, 28 June 2015
  • Webinar Notes: Collaborative Procurement: Using Relationships to Drive Influence and Results

    For starters, and as Bartolini stated in the event, you can’t have influence without collaboration - because no function is an island. This has its roots in the timing of procurement’s engagement with the business. Influence is not an on-again, off-again quality, which means that while it is important to engage as soon as possible, it is probably better not to disengage in the first place. Not only does staying connected take care of the lead time problem procurement so often faces, it also changes the role procurement plays and how we are regarded by the business. For instance, if we come in at the last minute, we are ‘order takers.’ If we are constantly present, we are partners. Agility, the focus of the overall CPO Rising 2015 Agenda, plays an important role in influence building as well. There are plenty of reasons for procurement to want to be agile, but wanting to have influence requires that we be agile – almost by definition. Being at the center of the action requires agili ...

    by Kelly Barner
    Friday, 26 June 2015
  • Guest Post on Design News: Understanding the Differences between Strategic Sourcing Goals, Objectives, and Requirements

    Early in the course of a product design and manufacturing organization’s strategic sourcing project it is common to have a kickoff meeting that includes the engineering team. It is the opportunity for the sourcing project team to lay the groundwork for the rest of the effort. One of the most critical discussions that should be a part of the kickoff is around the goals, objectives, and requirements for the project. This is an effort to be taken seriously by both procurement, which should facilitate the discussion, and engineering, which provides critical inputs. Unlike a mission statement, which is often dismissed as being an overly soft (and largely meaningless) feel-good expression of early-stage enthusiasm, goals, objectives, and requirements are tools that will be used actively in the sourcing project once it reaches the decision-making stage. When I worked as a consultant at a procurement solutions provider, I held workshops on kickoffs for the procurement teams I coached, as par ...

    by Kelly Barner
    Thursday, 25 June 2015
  • eBook Review: Introduction to Robotic Process Automation – A Primer

    The fact of the matter is, RPA has been part of our world for quite a while now, although it has not been achieving at its full potential. We’re accustomed to ATMs and GPS devices that are programmed to redirect us when we miss a turn. RPA can handle any process that is ‘definable, repeatable, and rules-based.’ On the continuum from increasing labor efficiency to labor elimination, RPA serves as a break/restarting point. Artificial intelligence is certainly a piece of the puzzle, just not the scary parts where the bots take over the world. The adaptability that RPA brings to process automation makes it possible to issue a PO rather than just flagging that a human needs to place an order for a certain item. Not that it’s a requirement – RPA can work in both independent and assisted automation models. The other advantage of being able to automate tedious processes, is access to new data. Anything that is automates created more data for analysis than manual processing can. Part of th ...

    by Kelly Barner
    Wednesday, 24 June 2015
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Buyers Meeting Point was founded in 2008 with the goal of helping procurement and purchasing professionals find the information necessary to fulfill their responsibilities. We centralized blogs, white papers, and solution provider listings. As our collection of information grew, we realized that we would need to provide advice about which information was best – and our role as a filter of procurement thought leadership began to take shape.

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