Author Archives: Chad Hinen - Iasta

How to Develop Strong Vendor Relationships & Strategic Partnerships

As I’ve mentioned in my previous blog post, internal communication and alignment are key factors for a Procurement team who wishes to increase their real and perceived value to their organization, as well as their influence.  The vision for the Procurement team should align with the vision for the overall organization. Additionally, being able to effectively communicate Procurement’s impact on the company’s mission and vision is critical to success. In this post, I’d like to further suggest that Procurement view … More

Baseball and Measuring Procurement’s Value

Finally, spring has sprung and it is officially baseball season. In my house, there is much rejoicing! With the dawn of each new season there is fresh hope, even if it is sometimes…fleeting. Perhaps more than any other sport, baseball is often analyzed through the prism of statistics. Whatever age or school of thought you might hold in relation to baseball, you can likely rattle off some form of statistic about some of the players you follow, if a fan. … More

What Can Procurement Learn from The Bully Pulpit?

I like to fancy myself a student of US History. In fact, I often find myself intrigued about how lessons learned from some of the most influential people in history can be applied to the political, business and personal issues facing the present. For example, when I came across a LinkedIn post titled, “Three Lessons Execs Can Get from the Gettysburg Address,” I became unreasonably excited to read more. I personally consider Theodore Roosevelt (TR) the most interesting historical/political figure … More

2 Key Aspects of Better Communication

I think anyone that has been involved in any long-term personal relationship would agree that clear communication is a key feature to any healthy relationship. Most would likely also agree this applies to professional relationships, be it with one’s superiors, team members, subordinates, and even across business units. Why then, as found in Deloitte’s Global CPO Survey 2013, does this continue to be a large obstacle for Procurement teams? According to Deloitte’s findings, 88% of CPOs report delivering on or … More

How Does Procurement Occur to Your Organization?

I recently read The Three Laws of Performance written by Steve Zaffron and Dave Logan. I took a great deal of knowledge and inspiration from the book. Now, I  find myself with the challenge of applying it to my personal and professional life. As I sat down to write my monthly blog post (and frankly, struggled with thinking of something unique to write about), I found myself thinking about the first Law and how it applies to Procurement professionals I … 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 Essential Capabilities for Procurement Success in 2020

How can you prepare your procurement team for 2020 and beyond? Deloitte helped answer this question in a paper about the future of the Procurement profession: Charting the Course: Why Procurement Must Transform Itself by 2020. The report takes a look at the dramatic shift that Deloitte foresees in the coming decade and shares how procurement teams will need to adapt in order to avoid falling behind the competition. In addition to covering risk elements and the importance of expanding … More

Spend Analysis v. Spend Intelligence: 4 Questions to Ask As a Procurement Team

In 2013, it’s not groundbreaking to say spend analysis is considered a key function within most successful procurement organizations. In fact, Aberdeen Group research found that 89% of best-in-class procurement teams utilized a spend analysis solution within their organization. In the same report, Aberdeen Group gathered that access to data is a critical component to a Best-In-Class procurement team. If you’re curious in reading more about these findings, download the report here: Dynamic Procurement – The CPO as a Collaborator, … More

Kissing the Frog: How Procurement Can Develop Strategic Supplier Relationships: Part 2

Welcome back! Just joining us? Click here to read Part 1 of this series. As you can tell from my previous blog post, there is a great deal of information to consider when trying developing strategic supplier relationships. If you are like many of Iasta’s clients, these questions are all important to the identification and development of strategic suppliers. However, there is high likelihood supplier information is living in the following areas/systems across the business landscape: Spend systems (ERP, P-Card, … More

Kissing the Frog: How Procurement Can Develop Strategic Supplier Relationships: Part 1

Most procurement organizations are focused on developing strategic relationships with suppliers.  I recently listened to an extensive conversation about this topic at the Procurement Leaders Conference in Chicago. For a better understanding of the discussion, check out what Jason Busch recapped here and here. The panel discussion covered this topic (among many others), and this procurement challenge has been top of mind for me since that day. The term “Kissing the Frog” was used to describe the process Procurement professionals … More

How Buyers, Suppliers, and Stakeholders Drive eSourcing Adoption

It’s easy to get caught up the “go live date” for your eSourcing software implementation. Many procurement leaders believe their team will be empowered to succeed simply by turning on a tool. However, that is not the case. Michael van Keulen from VF Corporation (an Iasta client) shared some best practices and advice at eWorld London for groups who are rolling out new eSourcing software. Michael shared some key elements from VF Corp’s successful eSourcing technology adoption that included: Developing … More

10 Ways to Drive Procurement Value: Part 6

The series summarizing Jason Busch’s “10 Ways to Drive Procurement Influence Using Advanced Technology” continues with some time devoted to his sixth point: Going Hunting for Big Game. Click to read Part 1, Part 2, Part 3, Part 4, and Part 5. While we can’t all be Theodore Roosevelt, (and Jason himself joked that discussing it in such terms may not be the most politically correct approach he’s ever taken) he makes an excellent point that I’m excited to relay. … More

Is Your Coaching Giving Your Team a Shot at a Big Win? Part 2

In Part 1, we discussed the challenges for many mid-cap and small businesses. Click here to read Part 1. Whether you’re referencing best-in-class Procurement strategies or basketball fundamentals, better coaching is a key ingredient to achieving more “wins” and becoming best in class. Is your team being coached in a way that maximizes efficiency and gets the most out your talent and resources? Here are three tips: Know your team. Basketball coaches often study videos from previous games to identify … More

Is Your Coaching Giving Your Team a Shot at a Big Win? Part 1

In the Procurement world, more credibility leads to continued success. The same can often be said in the world of sports. Kentucky, Louisville, Ohio State and Kansas are heading into the Final 4 this week, hoping to bring home the championship title. However, many schools – particularly smaller ones – are left to hope that one day they’ll accomplish the same feat with less. A lack of resources doesn’t necessarily translate into a lack of expectations. These teams still want … More