Category Archives: e-Sourcing Marketplace

3 Reasons to Choose BoB vs ERP

By design, ERP solutions were intended to cover the ground of multiple applications on a single platform. But while great in theory, ERP solutions don’t always work effectively using only “one” platform. In fact, organizations are often pressured or forced to think using an ERP suite is the only option. However, choosing a Best-of-Breed (BoB) solution somewhat negates this approach and in some cases simply makes sense for an organization to adopt this single platform approach. While one size does … More

How Modern Sourcing Promotes Innovation: Part 2

Welcome back! Just joining us? Click here to read Part 1 in this series which recaps the importance of innovation and what successful innovation looks like today. The successful implementation of innovative ideas demonstrates that despite the potential access to more resources, bigger is not always better. For the strategic sourcing application market, this simply boils down to the corporate genetic make-up of a small versus big company. For instance, as many business gurus may attest, small businesses (that includes … More

How Modern Sourcing Promotes Innovation: Part 1

As we continue to advance on the idea of modern sourcing, it is critical to understand there are multiple dimensions that require innovative ways of looking at how sourcing techniques, contract management, and supplier management must overlap and work together. I must stress that the key word here is “innovation”, a key topic covered in a recent blog on Spend Matters as to why “best-of-breed” strategic sourcing providers are showing the path for how modern sourcing needs to adapt. Why … More

Building a Sourcing Pipeline: 8 Questions to Ask When Evaluating eSourcing Providers

Are you asking the right questions when you’re evaluating eSourcing providers? Andrew Bartolini of CPO Rising recently published an article entitled “Building the First Sourcing Pipeline – Getting Started.” He provides valuable advice to procurement organizations that have just purchased an eSourcing solution. These organizations should be commended for the decision to become more strategic by implementing tools that will (hopefully) streamline their sourcing processes and vault their positions within their companies. However, from one solution provider’s point of view … More

The Procurement Poker Pair: eSourcing & eProcurement

Are you taking a gamble and leaving millions of dollars on the table? You could be if you don’t have the right solutions in place… As a modern procurement pro, you know that having the right technology in place is a key component of your procurement strategy. Implementing eSourcing and eProcurement solutions together allows your team to enhance its performance and impact across the entire organization. What else can you do with the right technology in place? You can: Collaborate … More

Measuring Success: Actual eSourcing KPIs

During the hustle and bustle of this year’s eWorld Purchasing & Supply seminar in London, attendees had the chance to tuck-in and listen to Michael Van Keulen, Senior Procurement Manager for VF Corporation, give his insights on eSourcing best practices. Not having the chance to attend this Iasta sponsored talk in person; I was able to watch his entire presentation on Iasta’s YouTube page, IastaInc. In one specific segment, Michael strikes a chord with the audience while talking about eSourcing … More

Commercial Insurance Actions: The Real “Sealed Bid”

Just like most of you, I live in a town that has to purchase various forms of commercial insurance. The goal is for the town to create a fair bidding process for qualified insurance brokers to bid based upon the specifications provided. To accomplish this, Municipalities and Governmental Agencies use what is known as a “Sealed Bid” process where the bidders submit a sealed envelope that no one can tamper with. We understand that this is a fairly common practice. … More

Lessons from Apple: Who is Keeping Watch Over Your Supply Chain? Part 1

Few companies have the ‘cool factor’ that can be claimed by Apple. But with a high profile comes high stakes, and their procurement and supply chain operations are not exempt. In order to remain competitive (or dominant in Apple’s case) in the consumer electronics industry, a high level of secrecy is usually required – both in the introduction of new products and the release of next generations of existing products. Historically, Apple has been a highly secretive company, driven in … More

Put on Your Detective Hat & Solve Mysteries with Spend Analysis

When procurement professionals are speaking with me about spend visibility, one of the first questions I ask them is: “What do you want to accomplish with improved spend visibility and data?” I lead with this question because there are many ways to define spend analysis as part of the strategic sourcing process and countless ways to empower sourcing professionals with actionable information. I encourage my clients to start with spend velocity reporting as a traditional starting point, which helps access … More

Six Questions to Determine if a Reverse Auction is Appropriate for Your Sourcing Project: Part 2

In Part 1 of this series, I explained how the contract status and having clear specifications / requirements can drive the success of your reverse auction.  Click here to read Part 1. Today, we will cover 4 more elements to consider when developing your reverse auction project and strategy. Is the spend volume attractive? The bigger the potential business award, the more likely suppliers are to compile all of the pre-auction information such as non-price factors in an RFI or … More

Six Questions to Determine if a Reverse Auction is Appropriate for Your Sourcing Project: Part 1

Many products and services you are currently buying may be ideal candidates for a reverse auction. Reverse auctions allow you to collect pricing information in a competitive bidding environment and have comparative reports available at the conclusion. Suppliers submit pricing within a pre-determined time frame and receive real-time feedback on where their price stands by being able to include ranking or pricing information. Ask yourself these six questions to help determine if a sourcing project is appropriate for a reverse … More

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

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

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