July 12-16: Future Proof Your Contracts, Your ProcureTech, Your ESG Strategy

Last week, we ran the first episode of season 2 of The Sourcing Hero podcast. This is a collaborative effort between Una and Art of Procurement – one that will bring forward new stories and perspectiv...

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Contingent Workforce Management: Advantages of an Integrated Managed Services Program and Vendor Management Software Model

Organizations that are not leveraging a managed service provider (MSP) and vendor management system (VMS) may be paying too much for contingent talent and are at risk of noncompliance with various lab...

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Blockchain: Disrupting Procurement and the Supply Chain

If you have heard a lot about blockchain but don't really know what it is, you're not alone. The success of Bitcoin and other cryptocurrencies has given blockchain a major leap forward. But cryptocurr...

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The Great North/South Divide

The principle of a North/South divide has been around for as long as mankind has organized itself into societies. It is a term often used within politics to define the ‘North of the country from the S...

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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 departmen...

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Time to Renew Your Office 365 Deal – Where Should You Place Your Bet?

Sourcing managers with a Microsoft enterprise agreement (EA) that is about to expire face an important decision and may have many questions. Should they renew their next EA along the same lines as the...

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Understanding Value Added Resellers in the Procurement Technology Space

Today, most supply chain and procurement software solutions rely on value added resellers as part of their go to market strategy. ‘Resellers.’ as the name suggests, act as the sales, solutioning, impl...

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Category Management Elevates Procurement to the Enterprise Strategy Level

This content was made possible by a collaboration with the team at JAGGAER. Category management requires procurement to ‘rise above’ the level of understanding traditionally associated with strategic ...

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Book Review: Integrating Blockchain into Supply Chain Management

“The advent of new technologies – most notably blockchain – has the potential to radically transform how transactions are recorded, stored and used throughout supply networks. The result: a transparen...

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Book Review: The Technology Procurement Handbook

“Naturally, Industry 4.0 requires a new procurement. The factors driving the change are the hyper-competition, globalization, supply chain risks, resource scarcity and many more. But the most importan...

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Low Hanging Fruit & The Snowball Effect in Digital Procurement Transformations

Talk to any procurement leader in an international company and you’ll hear some common issues being raised. The lure of technology (especially big data and AI) and dangled carrots of opportunity to digitally transform the whole procurement function are all great but hard facts are getting in the way.

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Where does procurement fall on the art/science continuum?

In a July 14th article on NewsDay, NYASHA CHIZU asked ‘Is Procurement an Art or a Science?

In the article, he makes the following statement:

“There is definitely an art to good procurement but on the other hand, taking a scientific approach to options analysis, requirements development and the procurement evaluation process can facilitate a more successful procurement project.”

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Webinar Notes: Bridging the Gap Between IT and Procurement

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.

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Webinar Notes: Agility, Mobility, Visibility: Three Dynamics for the New Procurement

This week’s webinar notes are from a December 4th event presented by Ardent Partners on what they have dubbed “The New Procurement”. If you want to read more from Andrew Bartolini and his team, visit CPOrising.com.

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Webinar Notes: The Future of Procurement Technology: Portable, Powerful, Pivotal

This week’s webinar notes are from a July 25th webinar hosted by the Next Level Purchasing Association and presented by Santosh Nair, GEP’s Vice President of Client Services and Innovation. Although the on demand version is only available to NLPA premium members, you can read what they had to say about SMART by GEP in this recent blog post.

Despite the changes being seen in the consumer technology marketplace, enterprise solutions have been slow to take advantage of the growing availability of mobile technology. As demand increases for Smartphone and tablet solution accessibility, enterprise solutions in general, and procurement solutions in specific, will need to change at a rate faster than they have in the past.

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Three Things ‘Rock Star’ CPOs Know About Procurement Influence

Last month I had the opportunity to speak with Dave Bowen, Xchanging’s US Country Manager and CEO of MM4. Xchanging has now released two parts of the research they conducted into procurement and supply chain. You can read my coverage of the first two parts here and here.

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Guest Post on the Social Contracting Blog: P is for Procurement... except when it isn't

Click here to read this post on the Social Contracting blog.

The Finance team manages the finances of the enterprise. Marketing people market services and solutions to the purchaser (or customer). Human resources manages… well humans.

Given those examples, you would think that Procurement handled procurement. In an ironic twist, this is becoming less and less true—especially as technology evolves and blurs the line between Procurement as an entity and procurement as a process.

 

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Actively Managing Procurement's Image

In September, Procurement Leaders ran an article by Tyler Chamberlain, Coupa’s global head of spend management, on the benefits of getting a solid procurement function established earlier in a company’s growth curve.

As he stated in the article’s title, “If it ain’t broke, don’t wait until it is.” The premise is that making investments in procurement talent and technology before problems arise prevents many problems from ever arising. Supplier records that are managed well from day one never need a massive clean up. Processes that have been in place as long as anyone can remember don’t have to overcome compliance hurdles. Spend that is managed centrally never has the chance to break between direct and indirect.

Perhaps more importantly, and as I had an opportunity to discuss with Chamberlain (click here to hear the conversation on BMP Radio), procurement has control of their internal image from the outset and can build their brand around positive results rather than problem resolution. When we hear Chamberlain’s message from this perspective, all organizations and procurement teams benefit from his recommendations, not just the start-ups.

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Recommended Procurement Webinars Feb 18-22: Sourcing Optimization, Cost Transparency and 2019 Tech Trends

This week and next week are busy, with 8 webinars currently scheduled for each. One thing I’ve noticed since starting back up in January is that webinar hosts are posting events with a bit less lead time than usual – sometimes less than a week – so make it part of your routine to look at our full calendar each Monday (or Friday afternoon) if you’d like to see a complete list.

If you are planning your webinar schedule further in advance, I recommend The Future of Procurement: Apps, Talent, & Innovation from Ardent Partners and Tradeshift on February 28th at 1pm ET.

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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Recommended Webinars September 24-28: Lagging Procurement Tech, Digital Financial Transformation, Software for Managing Freelancers

The last full week of September is going to be a busy one. There are 12 webinars taking place in three days and ProcureCon Indirect West will take place Monday through Wednesday in Scottsdale, AZ. A few of our good friends will be there, including Greg Tennyson, Michael Shaw, Joanna Martinez, Phil Ideson, and Bill Michels.

If you’re looking to plan your webinar schedule beyond this week, I recommend RPA -  The BIG Picture 2018 from IRPA AI and Virtual Operations on October 10th at 12n ET.

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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