“No industry or country is immune from bad buying; it exists in every nation in the world, and in almost every organization.” - Peter Smith, p. xi
Since I stepped back from running Spend Matters Europe at the end of 2018, I have had more time for cycling and my bass guitar (although if you heard me, you might not be convinced that I’ve improved …) But I have been busy with more business-like activities too, and on October 8th, one of the results will become obvious when Penguin Business publishes “Bad Buying – how organizations waste billions through failures, frauds and f*ck-ups” (available to pre-order),
“Because however brilliant our category strategies or engagement roadmaps, relationships still do matter, and nowhere more so than in how we interact with our critical internal stakeholders.”
Reading “A Procurement Compendium: Advice, analysis and humour for buyers (and those who sell to buyers) everywhere” by Peter Smith, former Managing Editor of Spend Matters UK/Europe, is more like having a conversation with a friend than it is absorbing a career’s worth of insights by yourself. I know Peter is fond of meeting up with colleagues at the pub to discuss procurement – or at least he did before he retired, now he probably wants to discuss anything but procurement. That said, the tone and content of this book might have been lifted right out of those conversations.
This week’s webinar notes are from a January 27th event hosted by BravoSolution and presented by Sigi Osagie (author of ‘Procurement Mojo’) and Peter Smith (Managing Director, Spend Matters UK/Europe). Once the event is available on demand, it should be available here.
These webinar notes are from a November 5th event co-presented by Peter Smith from Spend Matters UK/EU and Daniel Ball from Wax Digital. The webinar is available on demand on Wax Digital’s site.
Peter Smith opened this event by offering up a powerful statistic from Wax Digital's own research: when asked, 44% of procurement teams said they have a close working relationship with the business. Unfortunately, only 18% of those business stakeholders agree. This amounts to a 25% ‘relationship leakage’ – or as Smith said in the event, self delusional procurement organizations. And that doesn't even touch on the 56% of procurement teams that DON'T think they have good relationships with stakeholders...
The idea of this event was to look at multiple kinds of integration that procurement has responsibility for. When Smith talked about the three models for procurement (see below), the focus was decidedly on information and communications flows rather than data and technology. In my opinion, that is fantastic because it expands the role and potential impact of procurement through our understanding of our own way of working.
This week’s webinar notes are from a February 4th event hosted by Zycus and presented by Peter Smith (Spend Matters EU/UK) and Richard Waugh (Zycus). Once it is available on demand (assuming it will be) it should be listed on Zycus' website.
This week’s webinar notes are from an event run on September 3rd by Spend Matters EU/UK, Selectica, and IASTA. The event is available on demand here.
Once you get this classic Pink Floyd tune stuck in your head, it is likely to stay, and maybe that was the idea with this event title. Far from being a strategic sourcing solution ‘add on’ contract lifecycle management requires its own program considerations, including its impact on global supply chains, corporate strategy, and enterprise wide implementation and leadership. In other words, not allowing your next executed contract to be just another brick in the wall.
This week’s webinar notes are based on a May 29th panel webinar hosted by Proxima. The event is available on demand for free after an email registration here. In addition, anyone interested in the webinar should also read a recent HBR.com article discussing the four fundamental reasons why ‘Leaders Can No Longer Afford to Downplay Procurement,’ by Matthew Eatough, Proxima’s CEO.