Monthly Archives: July 2012

Monthly Payback: Keith Goddard of Kameleon Solutions Shares Advice On Becoming More Senior (Part 1)

High do I become a high performing executive? How do Olympic Athletes become the best in the world? In Procurement, we are so often stuck between senior management and being perceived as potential board material. How can we bridge that Gap? Keith Goddard, Managing Director of Kameleon Solutions, is an expert in coaching High Performing individuals including some GB Athletes and their coaches. He offers the following advice: So, you want to get more senior in your organisation or advance … More

Have Mercy on UNSPSC!

David Bush previously wrote a post for eSourcing Forum called ‘Spend Analysis – To UNSPSC or Not UNSPSC.’ In which he made the following statement, “Visibility into your spend is only as good as a desired taxonomy’s ability to accurately reflect the nature of your data.” UNSPSC (the United Nations Standard Products and Services Code) is commonly used as a standard taxonomy in spend analysis implementations because most companies do not have a custom taxonomy for categorizing spend. UNSPSC is … More

10 Reasons eSourcing Fails: Part 1

eSourcing has become essential in best-in-class procurement organizations.  Strategic sourcing improves efficiency, communication, and consistency – all of which are highly regarded in any organization.  As companies implement an eSourcing solution to take them to the next level, they should consider the following potential pitfalls to avoid. 1.    Lack of internal buy-in. A common issue among companies implementing an eSourcing solution and process is the lack of internal buy-in.  You make the decision to move forward with a new process … More

Procurement’s Role in Investor Relations: Part 2

In Part 1, I introduced Procurement’s role in investor relationships. Click here to read Part 1. Today we will dive deeper in investor relationships and what it means for the CEO and CFO.  The problems with many IR departments are not dissimilar to that of many procurement functions 15 years or so ago. They are focused on transactional and compliance task rather than value creation. I would argue there is a case for investors to be regarded as strategic suppliers, … More

10 Ways to Drive Procurement Influence Using Advanced Technology: Part 9

In a continuation of Iasta’s series reviewing the recent webcast by Jason Busch of Spend Matters, we are going to look at Jason Busch’s recent findings on tracking implemented savings, cost avoidance and results from a finance-driven perspective. Click to read Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, and Part 8. Let’s first be clear of what Jason means when referring to the tracking of saving implementation and cost avoidance. This is not … More

Procurement’s Role in Investor Relations: Part 1

As the credit crisis evolves into the new normal, credit has become tighter and one outcome investors and regulators will almost certainly demand is more transparency into the strategy and crucially, the underlying operating and financial performance of companies. Investors are increasingly aware of the impact that procurement and the supply chain can have on overall company performance in supporting growth, managing risk and increasing earnings and are therefore looking for company executives to demonstrate how they are addressing these … More

Top 5 Outsourcing Developments Uncovered in the New 2012 Vertical Report

The just-completed Momentum Market Trends & Insights 2012 Vertical Industries Report finds that changes in year-over-year outsourcing spending across 27 vertical industries ranged widely, from a 12 percent decline in the consumer durables vertical to a 53 percent spike in utilities, where operators are seeking help to meet new regulatory requirements. In 2011, annual spending increased in 15 vertical industries and declined in a dozen, and the report predicts spending patterns will swing again in 2012. More importantly, the report … More

10 Ways to Drive Procurement Influence Using Advanced Technology: Part 8

In today’s procurement world, awarding business to a supplier isn’t about just the lowest cost. In a recent webcast, Jason Busch, Executive Editor of Spend Matters, dove into ways that procurement groups can partner with suppliers in creative ways to lower their Total Cost of Ownership (TCO). Click to read Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, and Part 7. First of all, you need to understand the total cost of doing business with your … More

Does Your Procurement Team Need Better Contract Management?

If your company doesn’t have a good contract management process in place then you are missing out on some significant opportunities to improve your procurement processes, maximize negotiated savings, minimize off-contract spend, and leverage your full buying potential to get the best possible pricing from suppliers. How do you know if you need a better contract management process?  Ask yourself these 10 questions and, if you answer yes to more than one or two, you should take a serious look … More

10 Ways to Drive Procurement Value: Part 7

In a recent webinar, industry analyst Jason Bush offered 10 pieces of advice for expanding Procurement’s influence. Click to read Part 1, Part 2, Part 3, Part 4, Part 5, and Part 6. The seventh idea Busch advised to go beyond basic sourcing and enhance procurement’s value was to embrace specialists and specialty tools for advanced services categories. In the previous post, we discussed hunting for “big game categories” such as legal, marketing, accounting, consultancy, BPO and outsourcing spend. Advanced … More

Can India’s Dominance in the Global Services Industry Be Challenged?

The short answer is that it would be very difficult. Why? Let’s look at the numbers. The top five most-populous countries are China, India, the U.S., Indonesia and Brazil, in that order. Apart from its population’s limited English skills, Brazil is relatively richer than other emerging markets and has an economy powered by natural resources and commodities. As of yet, Indonesia has not been able to jump on the global services highway because of internal structural issues, and the foreseeable … More

There are No Small Parts: Every Sourcing Project is an Opportunity for Development

The very first sourcing project I ran on my own was for a window washing services contract at a large retailer. Not exactly glamorous, but everyone has to start somewhere. At the time, the annual spend seemed like so much money (do you ever compare category spend to your salary?) but in retrospect it was worth nothing. And yet, for the “smallness” of it, I learned more lessons from that one project than I would from many larger and more … More