Buyers Meeting Point procurement by Kelly Barner

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"The Point" is written by BMP Editor Kelly Barner as well as a diverse group of guest contributors.

Design, Defined

Design, Defined

Design – a term that dates back to the 14th century - has become mainstream over the last decade. Design has done well operating on the fringes of organizations and people are now seeing the value that it can create and provide. It has emerged as an important tool to help people see and guide change. How far will it spread and what will be the extent of its impact on business? 

Let's start by taking a broad view of the word in order to understand it's origin and meaning.

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Achieving World-Class Procurement Part 2: Taking a Deep Look at Your Current Operations

Achieving World-Class Procurement Part 2: Taking a Deep Look at Your Current Operations

As I mentioned in Achieving World-Class Procurement Part 1, today’s increasingly competitive market landscape is driving organizations to reinvest in their procurement and strategic sourcing departments like never before. Beyond establishing centralized purchasing operations, best-in-class companies are elevating their procurement organizations by taking a deeper look at people, processes, technology, and metrics and optimizing them in ways that support enterprise-wide goals – through procurement transformation.  Transformation initiatives allow companies to gain more value from their procurement operations, moving from a reactionary model focused on reducing costs to a more proactive approach to managing spend that streamlines purchasing practices and enhances supplier relationships.

 

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Why telecom companies don’t want CPOs to know about TEM

Why telecom companies don’t want CPOs to know about TEM

Mobile devices are now part of the modern business uniform. Mobile phones created a culture of always available, but mobile devices enable constant connectivity. What telecom companies don’t want CPOs to know is that bundling voice, data, and devices with them is no longer the most effective way to manage telecoms spend.

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Book Review: Supply Chain Construction

Book Review: Supply Chain Construction

This supply chain is the bridge between the customer needs of a market segment and the value-added of a product. If we can’t connect the two, then we have a show stopper.” (p. 4)

Supply Chain Construction: The Basics for Networking the Flow of Material, Information, and Cash by William Walker (CRC Press, 2016) is an impressive work that combines exhaustive supply chain planning considerations, processes, and figures with a narrative that keeps all of the information provided firmly rooted in reality.

I met the author in person at the February 2017 ISM Economic Forum in NYC where he participated in a panel discussion I moderated. Although Bill is an adjunct professor of supply chain engineering at NYU, the book is far from academic. It illustrates critical business principles through plausible real life examples that make their lessons easy to understand and recall long after reading them.

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Groundbreaking action that truly drives the greatest change for women

Groundbreaking action that truly drives the greatest change for women

Editor’s note: March 8, 2017 has been designated International Women’s Day. This year’s theme: #BeBoldforChange is a call to women in all walks of life to push boundaries and recognize the inspiring women in their lives. In honor of this day, Buyers Meeting Point welcomes Odesma Marketing Executive Ashley Brennan and UK Marketing expert Annie Spilsbury to celebrate the accomplishments - and discuss the opportunities still to be seized – in the following post.

To celebrate this years International women’s day campaign, #beboldforchange, Annie Spilsbury talks about why it is important to her and what women have inspired her to become who she is today and strive to achieve in the male dominated industry of Procurement.

Annie Spilsbury is a leading UK based expert in the procurement of Marketing services, and has a long association with Odesma, and with Odesma’s founders. She has extensive above and below the line procurement experience in the acquisition of marketing services and has provided support most recently to Odesma’s client Brambles across the World.

Annie is mum to two young children (under 5), who more than significantly keep her on her toes! When she has some spare time Annie loves horse riding, the gym, swimming, yacht racing, gardening, socialising and having family fun. This year Annie plans to test the tribe on music festivals so as life grows, so do their experiences.

Odesma offer a new breed of procurement advisory which ensures you stay ahead of the market and improve more than just your bottom line. With nearly 100 years in the procurement business and experience in every industry imaginable, Odesma offers procurement as a service by bringing together leading subject matter expertise, technology, governance and leadership in a way that is tailored to the needs of any organisation.

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Achieving World-Class Procurement: The Steps Leading Companies are Taking to Optimize their Procurement Teams

Achieving World-Class Procurement: The Steps Leading Companies are Taking to Optimize their Procurement Teams

In today’s competitive market landscape, simply having a centralized procurement organization is only the first step to better managed supplier relationships and spend. Leading organizations are quickly realizing that procurement and sourcing groups can offer far more value than tactical support. World-class procurement groups aren’t focused on processing POs and fulfilling orders. Rather, they’re focused on supporting each business unit at a strategic level.

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Transcript: Radical Business Model Transformation with Dr. Carsten Linz

Transcript: Radical Business Model Transformation with Dr. Carsten Linz

This content is also available as a podcast on BMP Radio.

Kelly: Hello, and thank you for joining us today. This is Kelly Barner, Managing Director of Buyers Meeting Point. Today I welcome Dr. Carsten Linz as my guest. Carsten is an entrepreneurial leader and expert on innovation-led business transformation that I met in the process of reviewing his recently co-authored book, "Radical Business Model Transformation: Gaining Competitive Edge in a Disruptive World." I will make sure there is a link to my review on today's BlogTalkRadio episode page so that you can learn more about the book. And if you're interested in more of Carsten's writings, I will also share a link to his blog where he further explains and explores some of the themes from the book.

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Recommended Procurement Webinars for Feb 20-24: Virtual, Digital, and Transformational Change

Recommended Procurement Webinars for Feb 20-24: Virtual, Digital, and Transformational Change

Look out – Wednesday of this week is coming at us fast! There are 6 webinars taking place in a four-hour period. There are also two in person events you’ll want to look into on Wednesday. The first is being put together by Bertrand Maltaverne and Simona Pop in London (click here) and the second is an economic forum at NYU being hosted by ISM-New York (click here). I’ll be participating in the panel at that event – come say hi if you are in New York! Click on the title of each webinar below to view the full description and register.

BTW: If you haven’t already, sign up for our mailing list to be sure you get my weekly recommendations in your Inbox each Monday.

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Webinar Notes: Man and Machine: Redefining Procurement’s Role in the Cognitive Age

Webinar Notes: Man and Machine: Redefining Procurement’s Role in the Cognitive Age

Last week, Procurious ran a webinar on cognitive technology along with panelists from IBM, Cognitive Scale, and the Entrepreneur’s Fund. The webinar is available on demand as a free, 2-part course on Procurious. For more about the webinar, or to view it on demand, click here.

As you might expect, terminology and definitions were very important in this webinar. What is cognitive computing? How is it different than AI? And who, exactly, is Watson?

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Book Review: Building Digital Culture

Book Review: Building Digital Culture

This should be a very sobering thought for anyone in business. The company that you toil and work so hard to make succeed is statistically unlikely to exist in a decade.” (p. 5)

Building Digital Culture: A Practical Guide to Successful Digital Transformation by Daniel Rowles (@DanielRowles) and Thomas Brown (@ThinkStuff) (Kogan Page, 2017) is the reason I review books. While I was reading this book, I was interrupting everyone I know to share ideas and quotes. If you are looking for an engaging, readable text that moves at the same speed as the digital world it describes, buy this book.

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The Importance of Vision, Messaging, and Alignment

The Importance of Vision, Messaging, and Alignment

Editor’s note: Scott Jancy is a multi-faceted professional, with experience as a historian, an architect, a Naval Officer, a planner, and a consultant. He blogs often on innovation, leadership, and design thinking. In his first guest post for Buyers Meeting Point, Scott takes on the topic of leadership through times of change. For procurement teams this might mean greater contact with procurement, a new organizational mandate, or the role out of different technology. Regardless of the source of the change, procurement must have a vision for the desired outcome and the messaging to build support and spread understanding.

Change of state is the physical process where matter moves from one state to another. Examples of such changes are melting, freezing, evaporation/boiling, condensation, sublimation, and deposition. Shifting temperatures and increased pressure are the usual causes of this kind of phase change in matter.

People and organizations can also change their state when subjected to stress. Typical causes include, but are not limited to, poor leadership, low employee morale, an ineffective or excessive office management, and possible job uncertainty. A team of people can either break apart or fuse together depending on how they react to the stress.

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Making an Informed Decision about Contingent Workforce Management Advice

Making an Informed Decision about Contingent Workforce Management Advice

Non-employee talent is getting more and more attention in the executive suite, as contractors, freelancers, and other knowledge-based contingent workers become increasingly important in achieving company goals. However, when management attempts to align its current contingent labor management program with corporate objectives, many companies find they are unable to answer the most basic questions about the effectiveness of their current practices.

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Transcript: Human Business: Discussing Tech, Social, and Relationships with Simona Pop

Transcript: Human Business: Discussing Tech, Social, and Relationships with Simona Pop

The following is the transcript of my recent Blog Talk Radio interview with Simona Pop. You can listen to it here. For anyone interested in reading the blog that the conversation is based upon, you can access it on Spend Matters.

Kelly: Hello and thank you for joining us today. This is Kelly Barner, owner of Buyers Meeting Point. Today I would like to welcome Simona Pop as my guest. She's the head of Partnerships and Global Communication at InstaSupply. Simona has held roles in sales, marketing, and event planning, and she's an author and speaker for WeRSM, one of the largest independent websites dedicated to social media. 

 
If that isn't enough, she was also selected as the winner of the Virgin Disruptor Challenge in 2016 for her desire to disrupt P2P. Last but not least, if you're thinking after hearing all these accomplishments that Simona is actually some kind of high performance AI, she reportedly loves a good omelette, something that, to me, is fair proof of her wisdom. Simona, thank you so much for joining us today.

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Book Review: Radical Business Model Transformation

Book Review: Radical Business Model Transformation

“Companies that dominated the national market for decades are suddenly confronted with new competitors that are redefining entire industries and hence restricting the incumbents’ strategic freedom to shape their future.” (p. 6)

Radical Business Model Transformation: Gaining the competitive edge in a disruptive world by Carsten Linz, Günter Müller-Stewens, and Alexander Zimmermann (Kogan Page, 2017) presents readers with the same challenge question the authors asked each other during the writing process: ‘Are we being radical enough?’

Recent Comments
Guest — Carsten Linz
Dear Kelly, thanks for this insightful review of OUR book! Still too many companies focus on efficiency gains and automation and h... Read More
Friday, 06 January 2017 05:49
Guest — Kelly Barner
Well put Dr. Linz - and thank you for sharing your comments here. One of the other points that comes to mind - a dynamic that clea... Read More
Friday, 06 January 2017 13:04
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Tips for Effective Light Fleet Sourcing

Tips for Effective Light Fleet Sourcing

Fleet operations can absolutely be an overwhelming category to manage. Between deciding on the right vehicle manufacturer, understanding the ever-changing vehicle features, selecting the appropriate maintenance plans, managing fluctuating fuel costs, and more – the active time required is substantial. However, rather than looking at this category as a mountainous challenge, Fleet should be seen as a major cost saving opportunity.

There are multiple triggers for evaluating the fleet category from the top down beyond just due diligence:

  • Evaluating internal versus external management of the fleet.
  • Mergers and acquisitions will prompt the evaluation and consolidation of fleet operations.
  • A new company strategy may mandate the need for a new fleet policy.
  • Maybe the organization lacks a concrete fleet policy or management structure and has outgrown a passive management phase.

In all of these hypothetical situations, a few best practices can be used for an effective category evaluation that enables both cost savings and process optimization.

For any of the reasons listed above, the fleet evaluation/optimization process benefits from taking a two-pronged approach that includes both a comprehensive OEM evaluation and a Fleet Management Services (FMS) provider evaluation. If the fleet administration and management function is housed internally, this two-pronged approach still applies in terms of analyzing the internally managed program (reactive and preventative maintenance programs, acquisition and resale processes, etc.).

 

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A Few Year-end Thoughts from Buyers Meeting Point

A Few Year-end Thoughts from Buyers Meeting Point

To everyone within reach of the Buyers Meeting Point community,

I know that you have a lot of options for where to spend your precious (and scarce) discretionary time. For every minute you spent on BMP in 2016, thank you. The content that I provide on this site, via my podcast, and on supporting sites is a labor of love. I’m not a marketing person or a sales person – I’m a procurement professional that has found a way to combine my love of learning with a format that allows me to reach and connect with like-minded professionals all the world over.

Over the next week, I wish you warm, happy times with friends and family. I wish you all the optimism that comes with the start of a new year. And most of all, I wish you rest – because come January 3rd, we have a lot of work to do!

I can’t wait to see what 2017 has to offer us all, and I look forward to being a part of your own personal, evolutionary journey. If there is ever anything I can do to help, don’t hesitate to let me know.

Merry Christmas, Happy Holidays, and Happy New Year… I’m already looking forward to reconnecting with you in early January!

Kelly Barner

Owner and Managing Director, Buyers Meeting Point

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Making the Case for Self-Sourced Talent Pools

Making the Case for Self-Sourced Talent Pools

As organizations continue to expand the use of contingent talent to supplement their full-time workforce, they are also seeking ways to optimize their contingent workforce programs to generate additional cost-savings. Historically, this was done through supplier rate rationalization, improvements in workflow and cycle time, and engaging a Managed Service Provider (MSP) and Vendor Management System (VMS) to drive efficiencies. While all of these measures generate cost-savings (particularly in first generation and early stage programs), more mature programs require the identification of other strategies like self-sourcing.

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Book Review: A Circular Economy Handbook for Business and Supply Chains

Book Review: A Circular Economy Handbook for Business and Supply Chains

In reading A Circular Economy Handbook for Business and Supply Chains: Repair, remake, redesign, rethink by Catherine Weetman, I was reminded the importance of people taking completely different approaches to a topic. In the case of the Circular Economy Handbook, I was caught completely off guard by her deep and pervasive focus on the environment, renewable resources, and social value.

CircularEconomyThere will always be a recycling component to any discussion of circular economies because they embrace a move away from ‘linear’ production and resource utilization models where goods have a limited useful life and become waste once they reach the end of it. For example, Weetman’s study of the amount of water required to feed a rapidly growing population (1 litre per calorie), raises the stakes for anyone who is only looking a circular model for cost reasons.

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Business Performance Benchmarking for Sales and Procurement

Business Performance Benchmarking for Sales and Procurement

This is the transcript from a recent interview with Donal Daly, CEO of Altify. To listen to the podcast on BMP Radio, click here.

Kelly: Hello, and thank you for joining us today. This is Kelly Barner, Editor at Buyers Meeting Point. Today I would like to welcome Donal Daly. Donal is the founder and CEO of Altify, a provider of enterprise sales methodology for enterprise database sales organizations. He is also the author of the Amazon #1 best seller "Account Planning in Salesforce" and the recently released "Tomorrow Today: How AI Impacts How We Work, Live, and Think.
 
Altify recently opened the response period for the 2017 Business Performance Benchmark Study and Buyers Meeting Point is one of a carefully chosen group of partners working to encourage participation, as well as learning from the study's results. The study, which is now open through December 21st, will examine revenue considerations, top priorities, and the metrics that we can use to gauge progress. All participants will receive a copy of the report, including results, analysis, and insights. It only takes 10 minutes to share your opinion, and I will make sure to share a participation link on today's Blog Talk Radio episode page. So, Donal, first of all, thank you so much for joining me today.
 
Donal: Hi Kelly. Nice to be here. Thanks for having me.

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Risk Management in Supply Chain and Procurement: Preparing for the Storm

Risk Management in Supply Chain and Procurement: Preparing for the Storm

Although we’re a few weeks past the Hanjin Shipping bankruptcy now, the shake up left experts, businessmen, companies, and customers alike wondering what other events could potentially jeopardize their operation or interfere with getting the product they ordered on time. There are countless risks in a globalized economy, making it a subject of relentless discussion among academics. That being said, some of the biggest companies in the world still do not have a team dedicated to risk management for their supply chain and procurement operations. A recent report by ATKearney and RapidRatings on managing supply risk in uncertain times found that “leaders have struggled to manage the latent risk in their extended supply chains. Most cite lack of bandwidth and budget as the biggest roadblocks. Dedicating scarce resources to prevent or minimize the impact of an issue that might never occur is often not a priority.”

With globalized supply chain operations, risk is growing and managing it is more critical than ever. Some risk factors have been greatly discussed in the industry, and others not so much. Below are a few of the risks threatening global supply chains as well as solutions and action items.

 

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