One of the best things about having good relationships with publishers is that I end up reading and reviewing titles that range beyond procurement or spend management. And yet, there is no question that the value and competitive advantage of a well-managed supply chain runs right through the center of all business strategy books.
The Point by Buyers Meeting Point
One of the interesting things about consistently reading and hearing content from quality sources is that you start to notice trends. It is amazing how often the same topics arise at the same time in different places. We use this blog as a way to help you stay on top of the major themes in procurement and supply chain management.
Kelly is the Managing Editor of Buyers Meeting Point. She has a unique perspective on procurement from her experience on both sides of the negotiation desk. She has led projects involving members of procurement, supplier and purchasing teams. She has practical skills in strategic sourcing program design and management, opportunity assessment, knowledge management, and custom taxonomy design and implementation. She also has direct sourcing experience in a number of product and service categories including: inventory fuel, location-based services, corrugated, and corporate purchasing cards. Kelly has her MBA as well as an MS in Library and Information Science.
Last month, Alun Rafique from Market Dojo and I co-wrote an article for Procurement Insights about Variables in the Adoption of Auctions. A discussion about the article really picked up steam in the ISM group on LinkedIn, and one of the questions posed in response was “Someone explain to me how a Reverse Auction is fair and equitable to the supplier..."
After considering that question carefully, Market Dojo published an article that asks a question in response: “Should Suppliers Still Fear eAuctions?” The article, which you can read here, takes an interesting look at the progression of auctions from carefully managed consultant resource, to part of an ERP system, to their somewhat questionable state today – in limbo in a world where procurement is driven to create as much value as savings. A third question in this discussion might be, are auctions still relevant?
This week’s webinar notes are from an April 9th event presented by Puridiom and Lunney Advisory group. Dr. Soheila Lunney, the president of Lunney Advisory Group and the primary presenter, addressed a number of topics related to a professional environment that increasingly emphasizes collaboration and partnership over the aggressive winner take all approach.
Dr. Lunney is also the co-author of The Procurement Game Plan with Charles Dominick of the Next Level Purchasing Association. You can read my review of the book here, as well as Part 1 and Part 2 of our interview with Dr. Lunney.
The rise of mobile technology requires that procurement solution providers and practitioners be innovative about potential opportunities for improvement and problem solving. Through virtual team models and global supply chains, the applications and requirements of mobile technology are coming, whether procurement drives the implementation or not. In a July 2013 article on ThomasNet’s imt Procurement Journal, Pat Toensmeier referenced a study about the expected adoption rates for mobile technologies in procurement. “A study by AnyPresence Inc., a Reston, Va., company that specializes in mobile business processes, products, and services, finds that 31.5 percent of respondents have deployed or will deploy mobile apps for procurement, among other functions, in the next 12 months. An equal proportion will do the same with apps for supply chain partners and shipping and distribution.” As we approach the end of that 12-month period, no developments have surfaced that look likely to reverse the trend.
This week’s webinar notes are from a March 25th event presented by Sourcing Interests Group and Denali Group. If ‘getting it done’ is the focus for most procurement organizations, talent and knowledge management are where the rubber meets the road. In the event, we heard Denali’s Managing Partner John Evans and their Director of Recruiting and Staffing Marrena Anderson talk about the growing trends that require additional investments in talent and how to build an effective knowledge management program.
The Moment of Clarity was a joint effort by ReD Associates founding partners Christian Madsbjerg and Mikkel B. Rasmussen. Their careers have focused on studying human behavior, problem solving, and innovation. In this book, they apply what they have learned and observed to the challenges faced by businesses today. It is apparent to the reader that they are avid readers in their own right, and their bookshelves clearly hold titles representing a wide array of fiction and non-fiction topics.
This week’s webinar notes cover yesterday’s delivery of Ardent Partners’ annual ‘CPO Rising’ report, sponsored by Ernst & Young. The presentation and report are the result of a survey of 273 Chief Procurement Officers and in depth interviews with 24 CPOs. The key word in this year’s report is convergence, as procurement increases their influence over the spend and operation of other functions such as Finance, Marketing, and Business Travel.
Editor's note: Buyers Meeting Point would like to thank partner and colleague Jeanette Jones of Cottrill Research for this week's webinar notes. The original posting can be viewed on the Cottrill blog. For our readers without a background in etymology or taxonomies, an ontology is the study of categories of bring as well as their interrelations. In a procurement context, this can most clearly be seen in spend analysis through the category structure and hierarchy used by the company to group and organize transactions.
There are many articles and reports about using Big Data for supplier risk, but there is still confusion about what Big Data is and how exactly one moves forward. Tom Fishburne at marketcartoonist.com succinctly sums it up with this gem, “many companies struggle with small data, let alone big data.”
Kaizen Kreativity is the fifth book by Dr. Tom DePaoli, and the third one I have reviewed. Like his other books, Kaizen Kreativity combines examples from his diverse professional past with easy to comprehend definitions and background. His lack of pretension is particularly appreciated since he often relates cases about Lean and Six Sigma. For anyone without experience using these methodologies, the terminology can be off-putting at best, and in the worst case scenario may deter people from realizing their benefits altogether.
“Risk management is not a purchasing initiative. It’s an initiative and philosophy that has to be embraced by the entire organization.”
-- Rose Kelly-Falls Senior VP Supply Chain Risk, Rapid Ratings and event panelist
This week’s webinar notes are from a February 13th webinar hosted by IASTA and featuring a panel of speakers. An on demand version of the event is available on their website.
This week’s webinar notes are from a January 23rd event presented by Ardent Partners, and sponsored by Puridiom and BravoSolution. An on demand version of the event is available through Puridiom's site.
Despite the fact that Marcy Phelps’ Research on Main Street is not necessarily written for a procurement audience, it offers invaluable advice as well as links to the resources required to carry that advice out. The idea of ‘local’ is not limited to the location of the researcher, but rather the information being sought. Another way of looking at it is point-point information, highly specific to a business need and detailed enough to motivate a decision.
This week’s featured webinar notes are from a February 6th webinar hosted by Preparis. The event is available on demand on their website. The event was fascinating, in no small part because of the qualifications of the speakers and the organizations they represent.
This week’s webinar notes are from the Next Level Purchasing Association’s January webinar on IT and Procurement. Bill Dorn, the VP of Operations from Source One Management Services was the main presenter. You may also know Bill as the co-author of Managing Indirect Spend with Source One’s Joe Payne. Although the full event and presentation are only available to NLPA Premium members, I will share an exclusive excerpt of the audio in my weekly procurement update on Blog Talk Radio update on Monday, February 10th.
“Very few organizations manage sourcing so well that there is no room for big gains. Category management is about changing sourcing in a radical way or a way that gives radical improvements.” (p. 33)
This quote from Jonathan O’Brien’s Category Management in Purchasing neatly sums up not only the idea of category management as he defines it, but also the full use of the content in his book, which is to support purchasing or procurement teams with a desire to significantly improve the way they manage sources of supply. The book provides all the background, strategy and tactics to stage a successful procurement transformation along category lines.
This week’s webinar notes are from a January 9th event hosted by Procurement Leaders and sponsored by iValua, with a case study presented by Whirlpool. The event is available for replay on iValua's site. If you are interested in more on the topics covered in the webinar, you can also download a free report (no registration required) that shares the results of iValua’s first Procurement Executives survey.
This week’s webinar notes are from a December 2013 event presented by Coupa and CFO.com with featured speakers from Deloitte and Blackstone Group. The event is available on demand on CFO.com and if you are interested in the content, there are two Deloitte whitepapers you can download:
- Charting the course - Why procurement must transform itself by 2020
- The Deloitte Global CPO Survey 2013
While the four trends defined by Deloitte’s John Mavriyannakis are new topics for procurement, he did offer some interesting updates, added to by practitioner commentary by Blackstone’s Scott Whitehill.