Finding the “Zen State” for the Modern CPO

A few weeks ago at Iasta reSource Indianapolis, I had the privilege of hosting a roundtable discussion, “Finding the ‘Zen State’ for the Modern CPO.” During the breakout session, I challenged thirteen procurement leaders to identify ways they can find a “state of harmony” in the dojo of the modern enterprise. After brief introductions around the room, we looked to find our Zen state by breaking down the challenges of modern CPOs into two core areas: Internal Pressures (Yin) and … More

3 Ways Procurement Can Support the CFO’s Working Capital Strategy

Working capital is defined as the amount of cash an organization has on hand at any given time. Some people also refer to working capital as net liquid assets or current assets minus current liabilities (where ‘current’ means due within a year). The amount of working capital held by a company is a primary measure of operational health because it communicates a steady top line and the ability to manage costs. The management of costs is a clear reason procurement … More

ROSMA and Supply Chain in 2020

Iasta recently hosted our user conference (Iasta reSource) in Indianapolis on September 9-11, 2014. The conference was a great opportunity for our clients to come together and network with peers, attend sessions led by fellow Iasta clients sharing their success stories, and participate in interactive sessions lead by experts such as A. T. Kearney. One of my favorite sessions during the conference was led by Marc Hochman at A. T. Kearney titled, “Supply Team 2020”. Marc discussed the progression that … More

4 Tips to Tame the Sourcing Monster

Is there a sourcing monster lurking around your office? He’s known to wreak havoc in your sourcing software, causing your database to become messy and confusing. The sourcing monster makes using eSourcing tools increasingly more time-consuming, degrades the efficiency of your standard processes, compromises integrity of the eSourcing process, frustrates users, and lowers adoption. You’ll know the monster’s been hiding under your desk once you log into the system and realize he is: Sending RFPs with outdated and inconsistent legal … More

5 Reasons to Attend eWorld 2014

Iasta is busy prepping for eWorld Purchasing & Supply on September 24 in London. This UK leading event centers on the use of leading-edge technologies and techniques within the procurement & supply chain functions. eWorld is targeted to senior business executives responsible for implementing web-based procurement and supply chain strategies, sourcing technology partners, and using / joining electronic marketplaces. If this sounds like you, check out these five reasons why you should join Iasta at eWorld in September: 1-Attend cutting-edge … More

3 Reasons to Join IASTA at ProcureCon Indirect West

ProcureCon Indirect West is right around the corner – September 15, 16, and 17 in Litchfield Park, Arizona. This year’s theme is: Where Sourcing Meets Innovation. Iasta is attending and we are excited to embrace this theme through engaging networking sessions and even hosting an interactive roundtable of our own! If you’re a CPO or director from a large or small spend company, here are 5 reasons why you should join us at ProcureCon Indirect West: 1-Participate in an interactive … More

6 Ways Retailers Benefit from Using Modern Sourcing Solutions

The retail industry runs a high supply chain risk as a result of high public visibility and being consumer-focused. In order for retailers to be successful in a heavily competitive marketplace, they must adopt and advance modern sourcing and procurement approaches that go beyond cost savings efforts alone. These modern approaches create a combination of tools and processes that allow for greater visibility. Modern sourcing tools and processes also give procurement teams the ability to reduce risk from the supply … More

Collaborative Supply Thinking Outside of the ‘Giga’ Box

Has your organization considered entering into a highly collaborative supply relationship? Some organizations are moving in this direction. Let’s take Tesla Motors and Panasonic for an example. On July 31st, Tesla Motors announced details about their plan to build a lithium-ion battery factory (Tesla Gigafactory) with their primary battery supplier, Panasonic. The factory will most likely be located in the Reno, Nevada area and is being hailed as the solution to Tesla’s lithium-ion battery supply constraints. According to current plans, … More

4 Tips to Ensure a Successful Supplier Relationship

When evaluating the market, you want to identify and target suppliers who fit your organization’s needs best. Think of it as if you’re interviewing a candidate for a new position at your company. It’s a two-way street – you want to impress the candidate as much as they are trying to impress you. Most importantly, make sure the relationship is the right fit for both parties before entering into a partnership. Consider these 4 tips when choosing your next supplier … More

3 Reasons Why I Can’t Wait for reSource 2014

My favorite time of year is quickly approaching. Yes, I’m talking about football season. But I have another reason to love fall this year. Iasta is hosting its US user conference on September 9, 10, and 11. I’m especially excited about the conference this year because it’s taking place in our home city of Indianapolis. Attending the user conference is a great chance for our clients to experience the culture of both Iasta and our home city. I’m also excited … More

Why Retail Needs to Think Beyond Cost to Deliver Innovation

When you hear “retail” – what terms come to mind? We’ve found that retail is a broad term that can incorporate many different sectors, especially for global organizations. Retail can cover heavily regulated areas such as food and drugs, but retail also includes: Apparel Electronics Furniture Health & Beauty Regardless of how you view or analyze retail, the industry as a whole is tied by its consumer-focused nature. And due to this large amount of public visibility, retail runs a … More

Beyond Contract Management 101: Webinar with Spend Matters & Selectica

As adult procurement people, the first week of September may not remind you of fresh notebook paper, new pencils, and back to school shopping (my personal favorite time of year as a kid). But it’s still back-to-school season, and we want to help you get back into the contract management game. Whether you’ve taken a break from contract management for the summer (or much longer than that), it’s time to dust off those best practice guides and start putting your … More

Procurement’s Ever-Growing Role in Retail

It’s been 10 years since AT Kearney categorized retailers into three different categories: Food and drug retailers, who sell just what you would expect (food and drugs) Soft line retailers, who sell apparel Hard line retailers, who sell appliances, electronics, and furniture Although these classifications still exist, the definitions have blurred considerably in recent times. Take Wal-Mart, for example. Wal-Mart is a hypermarket giant that combines all three of the above categories under one roof. And as we all know, … More

“The Power of Positive Thinking” for Procurement – Part 3 of 3

If you are just joining this series of posts on “The Power of Positive Thinking” for Procurement, you can read Parts 1 and 2 here and here. We have looked at the need to make meaningful change from within procurement professionals, and the importance of mindset discipline in the face of demanding stakeholders. In this post, we will conclude our series regarding Norman Vincent Peale’s inspirational bestseller The Power of Positive Thinking with rule number six from his “ten rules … More

10 Reasons Why Indianapolis is the Best Place for Iasta reSource 2014: A Guide to Indianapolis

Can you believe that we are only a few weeks away from Iasta reSource 2014? If you’re joining us for the conference, your days at reSource will be full of inspiring speakers and sessions and exciting networking opportunities and receptions. But remember to take some time to explore downtown Indy as well! The city is full of exciting things to do and see. To simplify your trip planning, I’ve created a list of the must-see spots in Indianapolis. Soldiers and … More