Monthly Archives: August 2012

My Procurement is Your Beschaffung and Their Approvisionnement

“A rose by any other name would smell as sweet.” – William Shakespeare, Romeo and Juliet There is amazing variety in the titles used by professionals in the spend management space. In most cases, those differences are nominal and other than suggesting something about the organization someone works for, or their relative seniority, we know we all do the same thing for a living. One of the advantages of being a process-driven function is that we have the opportunity to … More

Adam Becker, Sales Director of Tinderbox, Shares Advice on Becoming a Successful Sales Leader

“Having graduated with a degree in Art and Physics, I do not come from a traditional business education,” said Adam Becker, Sales Director of Tinderbox. “However, I have pulled advice from my personal experiences and interactions that have proven to be invaluable as I have grown in my career. The first and most important lesson I natively inherited from my mom, who is also an artist, is to ALWAYS have a critical eye when viewing your work. I remember doing … More

Four Tips to Managing Stakeholders in the Sourcing Process: Part 2

In our previous post, we covered two topics to managing your stakeholders in the sourcing process. Click here to read Part 1. Today, we will cover the other two tips: 3. Communicate, communicate, communicate and develop a transparent communication process with dates associated with key tasks. You can simplify this approach by breaking down the stakeholder-facing process into three distinct areas: •    Planning and team education – create high-level timelines, articulate project goals, review corporate mandates, discuss individual responsibilities, provide … More

Four Tips to Managing Stakeholders in the Sourcing Process: Part 1

In the sourcing process, you’re able to pick and choose your suppliers. Unfortunately, you can’t source your stakeholders; you have to work with them, warts and all. However, there are ways of winning over business stakeholders and making them an ally in the sourcing process. And when it works well, really well, many stakeholders will become the biggest advocates and evangelists of the sourcing process. Rather than hindering the implementation of identified savings, they accelerate savings and sniff out more … More

Rethinking Innovation in Outsourcing: Part 2

Click here read Part 1 of this series. Understanding innovation is similar to understanding creativity. The two are, in fact, pretty much the same. People who study or experience creativity will tell you that creativity is only possible within limits or boundaries; it never arises without a decision to create, or from chaos or a blank slate. In my own experience in many different fields, from artistic endeavor to the outsourcing business, I’ve observed that creativity requires three factors of … More

Rethinking Innovation in Outsourcing: Part 1

A few weeks ago, the Wall Street Journal published a story that pronounced the word innovation dead. Well, the Journal didn’t quite put it that way, but if you look at the basic statistics that were reported you’d have to agree that “innovation” is now business jargon with little real meaning. Alas, no more so than in our world of outsourced services. In outsourcing, the concept of “innovation” has been the cause of a ton of heartburn for both clients … More

Austerity & Procurement

It never ceases to amaze me that during harsher economic times, organizations choose to reduce/cancel budgets for procurement projects. It is understandable for those functions that are more client-facing, where revenues are challenged, but why the procurement budget? A $/€/£ saved is a $/€/£ more profit – there are no cost of goods/services to be charged. Organizations need all the help they can get at the moment and where better to turn to than procurement? It would be understandable if … More

Monthly Payback: Keith Goddard of Kameleon Solutions Shares Advice On Becoming More Senior (Part 2)

In Part 1, I introduced the notion of the fit between ‘person, role and environment’ as being key to career advancement. Click here to read Part 1. Considering the ‘person’ aspect, you need to have a reasonably clear sense of what success looks like for you (or the destination/direction). Then, you need to look to identifying what gaps there are in how to realise your aspirations. Next, you should understand your capability, motivation and current reputation. To develop a clear … More

Procurement’s Role in Investor Relations: Part 3

In Part 2, I covered what investor relations means for the CEO and CFO. In part 3, I will cover how procurement can fully understand the objectives of a investor relation strategy. Click here to read Part 1 and Part 2. The CPO on Capital markets Day The CPO must ensure they understand fully the objective of the investor relations strategy. Is it to manage existing investors, attract new investors or to control damage? Either way, communication is key so … More

10 Reasons eSourcing Fails: Part 2

In part 1, I covered the first five reasons eSourcing fails when a company is trying to implement an eSourcing solution. Click here to read Part 1. Below are five more potential pitfalls to avoid when taking your organization to the next level with strategic sourcing: 6. Assuming the process will be the same as before. When adding technology to your process, rethink the way you do things.  Do you still need that form?  Does that step make sense anymore?  … More