Getting up to speed with all things Determine

With Memorial Day just around the corner, we honor all those who have served our country as we race into summer. The Indianapolis 500 is also gearing up; those of you who visited ISM 2016 saw how we got a jumpstart on that event with our racing-themed booth (see the pictures below!) It was great to see everyone who stopped by, and for those of you who couldn’t make it we look forward to catching up with you soon. Speaking … More

The hijacking of Lean Management or management’s flight from complexity?

“Lean production is a work organization model that favors the development of proactive, competent employees who are prepared and motivated to think and suggest improvements.” — Philippe Hidden behind the magical power of measurement quantified using intrinsically false data, Management is finding itself unable to deliver performance in a complex world within ever more complex organizations. Didn’t Lean Management provide the keys to performance? In the 1990s, didn’t the complexity sciences largely contribute to the revival of the practice of … More

5 Benefits of Punchout Catalogs

What is Punchout? It is a way to connect directly to the supplier’s catalog from an application such as procurement systems and purchase to pay software. Via this protocol, buyers can order from within their purchasing system with a direct access to negotiated catalogs via the web. I recently conducted a survey with our customers regarding the purchasing process trends and I discovered an increasing part of our clients use punchout catalogs (31%). By being compatible with OCI and cXML … More

Dashboards are to Big Data what Minitel is to the internet.

  How to transition from data that meets a need, to data that brings to light a fact and an action? In a short and incisive forum on the excellent Decideo, Abed Ajraou, Data & Insights Director at First Utility, does not mince his words. Many decision-makers only understand Business Intelligence to be intelligence derived from dashboards and reporting. Now, Big Data must allow a revival of business economics. Big Data is a question of survival. Reporting a photo of … More

Success Story: Contract Management

Large staffing organization in the U.S. provides a comprehensive range of HR services to their clients. They offer temporary, temporary to hire, direct hire and outsourced placement services for local and global customers and fulfill all aspects of commercial and professional staffing. Understanding Contract Risk In an assessment conducted in early 2014 that focused on six different work streams with contract liability risks, the company wanted to know if they had solid procedures in place to mitigate the risks. The … More

Four Pillars of DIY Contract Management

In this day and age of business apps and mobility, technology is driven by the do-it-yourself approach or DIY.  Consumer-side technologies and personal experiences support the notion that today it has become easier to manage and execute contracts than ever before. I experienced this in the past few weeks with two real estate deals, where I became both a buyer and seller of a property on the same day.  Based on these events I had an initial flurry of emails … More

The Procurement Maturity Curve – Collaboration is value creation – Part 4

In this series of posts, we have looked at how procurement can progress from meeting the fundamental requirement for savings and ensure their continuation through process compliance. We have also considered the potential associated with a shift from an outward-in focus to one that is externally driven, allowing us to position the enterprise to take advantage of the best available options as well as to minimize the risks associated with them. Although this progression tracks an expanding perspective and set … More

Success Story: U.S. Pharmacopeial Convention

Not a household name for most people, the U.S. Pharmacopeial Convention (USP) is a scientific nonprofit organization that sets standards for the identity, strength, quality, and purity of medicines and food ingredients manufactured, distributed, and consumed worldwide. In fact, USPs drug standards are enforced in the United States by the Food and Drug Administration and used in more than 140 countries. Addressing the Contract Problem While USP was familiar with setting standards for food and medicines, it needed help internally … More

A tale of two Visionaries

Determine companies b-pack and Iasta both designated “VISIONARY” in the GARTNER 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement* and 2015 Magic Quadrant for Strategic Sourcing Suites. When Determine set out to establish an industry-leading platform for source to pay, we sought the very best talents to deliver on innovations, to set new standards. We started at the top with b-pack, a “Visionary” in the 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement*, and Iasta, rated “Visionary” in … More

The Procurement Maturity Curve — Managing Risk inside and out – Part 2

In Part 1 of this series we looked at how procurement can improve its risk mitigation role by getting involved earlier in the process, and staying involved. In Part 2 we’re going to compare and contrast the internal/external sources of risk, along with how to keep it in check. Look at risk from the outside in. When procurement looks at each category of spend as being directly influenced by materials markets and varying levels of influence in the supply chain, … More

Relationships: Vital to business success and prosperity!

With blogs, such as this, or any social media connection—email, text, online media in general—it  seems that building relationships has become a lost art. However, I beg to differ and will explain. This blog is about Relationship Economics and how it’s still as valuable as ever and even in vogue. In today’s economy, relationships are perhaps the new currency. A relationship describes a connection or association between people and/or things. Economics is about resource abundance, scarcity and allocation, the distribution … More

The Procurement Maturity Curve — Managing Risk inside and out – Part 1

In the past, we’ve taken a close look at how procurement’s maturity curve affects its focus. Two recent posts addressed issues concerning the evolving role of procurement savings, compliance and enterprise alignment. In this blog series, we’ll consider risk. First, we look at supplier risk and methods to monitor and mitigate it; then we’ll examine internal vs. external risk sources. Procurement: Sourcing risk mitigation. After procurement has dealt with the primary internal spend management needs of the enterprise —savings generation … More

Spend Category Management: What is it, and why is it so valuable?

Category Management is extremely valuable to organizations that conduct sourcing initiatives. This is especially true if they want to capture key knowledge around a specific sourcing category integrated within the corresponding organizational spend. This allows for ongoing category-specific measurements, such as rebate programs and Diversity Spend relative to specific items. It’s also essential for managing the overall status of the sourcing program to continually capture the intended cost savings. Our Determine Strategic Sourcing solutions integrate Category Management and Spend Analysis … More

Tapping into the full value of contract management tools.

How much should procurement really care about contract management? A lot. More and more, procurement is being asked to improve supplier relationships and reduce supply chain risk. According to research by Spend Matters, procurement should be analyzing contracts during negotiation to increase successful agreement and execution, and predict disputes before they occur. We agree. Reporting on contract information is critical for mitigating risk, maintaining compliance and realizing savings. Contracts and the data they contain are valuable. But too often they … More

The Modern General Counsel – Part 3

Introduction: Post #1 & #2 of this series looked at how General Counsel is (and may always be) linked to risk. But the role – and influence – of General Counsel has expanded. Technology and data are helping legal teams add value to an enterprise. Going beyond risk and compliance to support the bottom line. This article is about increasing their effectiveness – and clout – with contract management tools. Beyond risk: How Determine CLM turns contracts into strategic business … More