Category Archives: General

General

Participate In IASTA and Efficio’s Global Procurement Survey

Iasta has partnered with Efficio to research how procurement maturity varies globally and address the steps procurement leaders are taking to become change agents in their organizations. Our hope is the survey results will help us better understand procurement’s organizational impact from a global perspective. We are asking questions around: The big picture – What are your top challenges and plans over the next two years? The sourcing process – How do you prioritize, manage, and report on your projects … More

Are You Speaking the Language of Value?

Procurement organizations are constantly being challenged to create more value. The initial step for each company is to define exactly what value means given their unique economic context. The language of value, like value itself, is about discussing topics with an emphasis on creativity and potential. Since value is qualitative, procurement must be able to discuss, explain, and promote it without being overly reliant on the quantitative measures to which we are accustomed. Having the ability to discuss value creation … More

Top 5 Reasons Why Should You Attend ISM 2014

ISM continually sets the bar for supply chain events around the world. This year, ISM 2014 will take place in the city that never sleeps (Las Vegas) on May 5-7. Why should you attend ISM 2014? Here are five top reasons you won’t want to miss this conference: #1-Connect with the biggest names in procurement: You can attend leading-edge programs presented by big name speakers, such as the winners of the ISM Michigan State University Awards for Excellence in Supply … 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

6 Steps to Improve Your Win-Loss Process: Part 2

Welcome back! Just joining in? In Part 1, I discussed the first 3 steps Iasta took in 2013 to improve our win-loss process and shared Iasta’s experience of each step. Today, I’ll share the final 3 steps and our journey each step of the way. Step # 4: Communicating the Process The Win-Loss team put together a presentation complete with process flow charts, sample interview questions, and high-level goals and went on tour. We met with all internal departments to … More

6 Steps to Improve Your Win-Loss Process: Part 1

Part of planning my goals for 2014 involves reviewing what I did well and what I could improve on from 2013. At Iasta, I’m part of the Win-Loss team and one of my favorite Iasta success stories from 2013 is our revamped win-loss process. Prior to 2013, Iasta performed win-loss interviews with clients and prospects, but we didn’t have a solid process for determining who to interview, when to interview them, and how to communicate results. In hopes of bringing … 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

4 Must Attend Procurement Events in 2014

Networking, inspiring speakers, user training, and cocktail hour- these are just a few perks of attending industry events and conferences. If you don’t have any conferences booked for 2014 or simply need inspiration on which events to attend, we’ve created a list of 4 procurement events you must attend in 2014. #1: ProcureCon Indirect East: February 18-20, 2014 – Charlotte, NC ProcureCon Indirect East is an excellent opportunity for you to learn about innovations in indirect procurement and hear how … More

100 Days to Become a Successful CPO

A new year brings new challenges, new opportunities, new expectations… If you’ve recently taken on the role as a new CPO (or even as a new executive), you are most likely passionate and determined to quickly make a positive impact and drive significant change at your new company. I recently listened to a podcast by A.T. Kearney, “The First 100 Days as a New CPO”.  Chris Clements, Director at A.T. Kearney, discussed major issues a CPO faced in their new … More

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

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

Myers-Briggs for Procurement, Part 6: Personality Type in Practice

Welcome back! Just joining in? This is the final post in our series on the four Myers-Briggs dichotomies, or pairings of opposite traits, that define a person’s natural tendencies. We introduced the Myers-Briggs Personality Type Indicators in Part 1, focused on extraversion vs. introversion in Part 2, and considered the two sets of psychological functions in Part 3 (sensing and intuition) and Part 4 (thinking and feeling). In our last post, we wrapped up the four dichotomies with a look … More

Hey Procurement! Demonstrating Procurement ROI is Easier than You Think!

Are you still using manual processes to show ROI? If so, it’s time for you to re-evaluate your options… According to an Iasta user poll, 88% of Iasta clients use Hard Dollar Savings to demonstrate value to their company. The remaining users said Cost Avoidance was the most important metric they used to track value. At Iasta, we know many procurement teams who spend weeks collecting data for KPIs from a multitude of systems. Next, they cut, paste, and manipulate … More

Pennies & Procurement: Are Your Savings Dull or Dazzling?

When cost savings loses its luster, what do you do next? Have you ever noticed how pennies turn dull after time, but quarters do not? I noticed this comparison when I recently emptied the zippered portion of my wallet. Similar to the penny, so too can the shiny newness of the savings we as procurement people deliver to the business lose its luster. How can such a meaningful return on investment be forgotten? The business leader can easily forget because … More