Yearly Archives: 2013

Can ‘inshoring’ be manufactured?

There has been much debate around the ’Made in’ label recently, even on this blog where Procurement Leaders researcher Jon Webb looked at where a keyboard should be labelled as made. During his investigations he spoke to one manufacturer who said that he sourced his electronics from China, had the components assembled in Italy and the final product built in the UK. Where, Jon questioned should this product be labelled as having been ’made in’? The issue for businesses coveting … More

4 Naughty Procurement Habits You Must Break Today

“You better be nice– Santa is watching!” How many times did you hear that phrase growing up? Only once or twice, right? As a kid, you were encouraged to act “nice” because you knew Santa was watching at all times. But as an adult – do you feel the same pressure? If you want to be on the “nice list” this year for your procurement habits, here are four procurement habits you need to break: 1- Being a collaboration scrooge. … More

Moving Beyond Cost Reduction to Cost Avoidance: Part 2

Welcome back! Just joining in? Check out Part 1. In order to better understand the trend towards cost avoidance, consider traditional cost containment questions in sourcing which may include: What is the historical price of what we are buying? What discounts / savings can we get from buying now? What is our existing contractual relationship with that supplier? However, when addressing cost avoidance, the questions become much more complex. A cost avoidance mentality drums up sourcing questions such as: What … More

3 Steps to Improve Savings Recognition within Your Organization

How can savings recognition improve and have an impact on your procurement organization? Iasta Director of Sales & Marketing Enablement, Constantine Limberakis, participated as a speaker in our recent Webinar titled, “Strengthening Procurement’s Impact: How to Capture the Bigger Picture of Savings”. Constantine discussed three steps to improve savings recognition within the organization: 1-Establish consistent savings definitions and types: The lack of consistency in the definition of savings has caused misinterpretations between Procurement and Finance. As discussed in Iasta whitepaper, … More

Moving Beyond Cost Reduction to Cost Avoidance: Part 1

As we approach the end of 2013, there are several procurement based trends that will likely continue into 2014. One of these trends we’ve observed at Iasta is procurement’s focus away from cost savings and towards cost avoidance… We discussed this topic during our webinar, Strengthening Procurement’s Impact: How to Capture the Bigger Picture of Savings. Guest speaker Lutz Peichert mentioned that procurement today is being driven by a number of areas including disruptions through technology and customer experience that … More

2 Questions You Should Ask Your Supplier Sales Rep Before Thanksgiving

Brace yourself: the end of 2013 is just around of the corner! We’re all trying to make the most of the time we have left. This includes maximizing remaining budgets, tabulating results, and starting to plan for the year to come. The same is true of the sales teams of our suppliers. Not all companies close their books on December 31st, but those who do are trying to hit their quotas before the close of the biggest quarter of the … More

How Sourcing Analytics is Changing Leadership

Procurement continues to look for ways to define themselves as a true profit center rather than a cost center. The problem typically arises in the form of defining what exactly they bring to the table. It’s easy to make generalizations like “Procurement saves money” or “Procurement brings efficiency”, but it’s hard to quantify these statements. However, as organizations turn towards automated ways of tracking KPIs associated with Procurement activities, such as cost avoidance, savings, and cross-functional collaboration, leadership is paying … More

November Monthly Payback: Marlene Carey from St.Vincent Health

Who is Marlene? Marlene is Regional Marketing Officer for St.Vincent Health’s Northeast Region. In this position, she oversees the marketing and community affairs for health care organizations in Anderson, Elwood and Winchester. Marlene’s 35 years of experience in healthcare also includes responsibility for fundraising and a printing/mailing center. She is a recipient of the Athena Award for Outstanding Businesswoman and Woman of Achievement Award. A former Board member of the Madison County Chamber of Commerce, she is also a member … More

Need Product Ideas? Don’t forget to look in your own backyard

The Iasta Product Management team gets product ideas from a variety of sources: market research, industry analysts, procurement forums and blogs, Iasta sales and support reps, tradeshow conversations and many other sources. We record and track all the ideas we gather and use the following metrics to help us prioritize the list: Quantity and Quality of market evidence to demonstrate a need for the feature Impact the feature would have on target markets and long term product vision Development effort … More

The RFx Prescription

You could say I’m in the RFP business. Or, more accurately, the RFx business, given that I interact with RFIs, RFPs, RFQs, RFTs, and the like every week. On a regular basis, I request a great deal of information or feedback, and receive numerous requests of my company. I get to see the process of requesting information, price and non-price, from every angle. I answer questions of sourcing pros who are considering purchasing Iasta sourcing software; I build existing vendor … More

Accounting for the 500lb Gorilla

In today’s world, we know the value of the procurement function can’t, or at least shouldn’t, be measured purely on savings in relation to previous spend. Held merely to this one metric, it is difficult (maybe impossible) to get a true understanding of the value being delivered by procurement. Why? One reason is buyers are dealing with more than simply managing suppliers. Buyers need to understand the fluctuation of commodities affecting the price of the goods suppliers are providing. Rod … More

4 Tips for Recovering From Supply Chain Disasters

What happens when disaster strikes your supply chain? As a modern sourcing pro, you understand your role in your company’s supply chain operations and supplier risk program. Even though you can’t avoid ALL supply chain disasters, having a plan in place and being proactive when responding to changes in your marketplace and your supply base is a critical to your company’s success. If you aren’t sure where to start in developing your supply chain disaster plan, start with these four … More

Go Beyond with Spend Analysis: 3 Ways to Improve Your Modern Sourcing Process

Have you uncovered the hidden potential lying within your data? Data visibility is often the most challenging for procurement pros to achieve. Scott McBride (Iasta Director of Global Alliances) shares the importance of “going beyond” with spend analysis in this short video below. With Scott’s perspective in mind, below are three ways you can improve your modern sourcing process using spend analysis: 1-Centralize your data. Data in a silo is useless. When data lies in different systems, the information is … More

RELOCATION SAVINGS THROUGH A LEVERAGED PURCHASE AGREEMENT

The real estate bust has caused the cost of relocating employees domestically to skyrocket in the past three years. The Worldwide Employee Relocation Council reports the cost to relocate an existing employee homeowner now exceeds $90,000. At the same time, employers reacting to the Great Recession are looking for ways to reduce their spending significantly on a number of fronts, including employee mobility. Paladin has developed a model with Graebel Companies that allows other clients to benefit from aggregation of … More

Prego & Supplier Data: “It’s in there!”

Years ago, Prego televised a commercial for their spaghetti sauce with the catch phrase, “it’s in there.” The commercial went something like this… A father enters the house for a spaghetti dinner and condones his son’s wife for using sauce from a jar. The father continues to talk about garlic, herbs and onions to which the son replies, “it’s in there.” For those not familiar with the commercial, you can view it here. So, how does a can of Prego … More