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Overcoming Non-Productive Friction in Procurement

Included in a whitepaper published by Source One Management Services, a Corcentric Company

When we talk about procurement transformation, we typically focus on two areas:

  1. The changes we need to make, and
  2. Our vision for the department’s future.

While these are important areas to consider, they neglect an equally critical component of the diagnostic process - a study of the friction between procurement and the rest of the enterprise. When initiating a transformation, procurement needs to focus on the current problems at hand, and nearly every organization can count internal friction among these problems. If Procurement fails to directly and immediately address this friction, transformation efforts have no chance of succeeding.

Click here to read the rest of the whitepaper (no registration required).

Forget Everything You Know About Strategic Sourcing (Determine)

Posted on the Determine blog on May 24, 2018

Instead of “recycle, reuse, retread” let’s talk about a reboot.

Memorization is a frontage road: It runs parallel to the best parts of learning, never intersecting. It’s a detour around all the action, a way of knowing without learning, of answering without understanding.”

— Ben Orlin, “When Memorization Gets in the Way of Learning,” The Atlantic, 9 September 2013

Strategic sourcing has recently received a spike in attention. Determine Vice President of Sales Sean Delaney discussed sourcing trends with SIG CEO Dawn Tiura on the Sourcing Industry Landscape podcast. An early look at Ardent Partners’ 2018 CPO Rising report revealed that for the first time this year sourcing has fallen out of the top 10 strategies employed by leading CPOs. And I followed that revelation by digging into the meaning and implications of this shift (Face it sourcing, CPOs just aren’t that into you…).

Click here to read the rest of the post

Gaining Entrepreneurial Experiences In An Enterprise Environment (Procurious)

Posted on the Procurious blog on May 18, 2018

Intrepreneurship is a philosophy or set of experiences that allow a professional to combine the authority and accountability of entrepreneurship with the (relative) safety and job security of a corporate gig.

There is nothing easy about being an entrepreneur, despite the glamor assigned to meteoric success stories like Apple, Tesla, Uber, and Facebook. The high point and low point of entrepreneurship are actually the same: at the end of the day you are responsible for everything that happens – good or bad – even if it seems beyond your control. This accountability drives healthy risk-taking and builds a sense of ownership that is often missing in corporate roles that provide a soft landing.

Being an entrepreneur sounds like a great idea, but what if it were possible to get that experience without taking on the risk of leaving a position with a guaranteed salary and benefits? That’s where intrepreneurship comes in. Functions like marketing, sales, and operations seem like a natural fit for the intrapreneurial movement, but so is procurement! We just have to be prepared to either seize the opportunity or create one of our own.

Click here to read the rest of the post.

Strategic Procurement in the Post-Sourcing Era (Determine)

Posted on the Determine blog on May 3, 2018

Face it sourcing, CPOs just aren’t that into you.

Last week, the team from Ardent Partners shared the results of their research: CPO Rising 2018: The Age of Intelligence in a webinar with Determine. This year’s report includes input from 324 participants, 62% of which are Director level, VP level, or C-level. No one industry accounted for more than 13% of the research data, although approximately 70% of the responses were from large (>$1B) companies in North America.

Of all the insights drawn from this initial look at the research results, one stands out to me as particularly compelling: sourcing is being de-emphasized as a spend management strategy.

Falling from #1 in 2009, to #7 in 2014, to #11 this year, the trend is impossible to ignore. This doesn’t mean that sourcing isn’t still being applied to a significant portion of addressable spend; the percentage of spend brought under management using strategic sourcing actually hasn’t changed that much from 2009, falling from 65.7% to 55.8% to 46.9% respectively in the same years as listed above. The difference is that as of 2018, sourcing is no longer a top 10 strategy for leading CPOs.

There are multiple implications of this shift, and while it has been coming on gradually but steadily for almost a decade, some procurement organizations may still be caught off guard. Introspective teams would do well to ask themselves a few questions — and give very careful thought to the answers.

Click here to read the rest of the post.

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