Category Archives: General

General

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

4 Tips to Maximize Your Time at ProcureCon Indirect West

Iasta is packing up our bags and heading out West! Okay – not all of us are heading to Arizona – just our CEO David Bush and our new Director of Marketing & Sales Enablement – Constantine Limberakis. Are you heading to ProcureCon Indirect West too? If so, we hope to see you there this year. Don’t forget to stop by Iasta’s booth (we are giving away some cool door prizes) and join David and Constantine’s session, “Uncovering Collaborative Ways … More

Don’t be Tragic in Your Savings Recognition Efforts: Part 1

“A rose by any other name would smell as sweet” is a quote taken from William Shakespeare’s play, Romeo and Juliet, in which Juliet argues that the names of “things” do not matter as much as what things “are”. Interestingly enough, the rose for Procurement is savings. The quest for procurement pros to be recognized for their cost savings efforts has been daunting, often leading to a similar tragedy as Romeo and Juliet in terms of recognition. Historically, there are … More

Myers-Briggs for Procurement, Part 4: Thinking and Feeling

Welcome back! Just joining in? We’re working our way through 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 first set of psychological functions (sensing and intuition) in Part 3. In this post, we will look at the second set of psychological functions (judging functions): thinking and feeling. When making a business decision, … More

Investor’s Due Diligence & Spend Analysis: You should be paying attention!

Do you conduct annual reviews of your investment portfolio? I know it’s considered a best practice to conduct annual reviews of your investment portfolio including asset allocation, quality of investments and overall performance. Unfortunately, that doesn’t mean I’ve actually been doing it. I hadn’t reviewed my investments in a few years. I was unhappy with my portfolio performance in 2012, so I decided it was necessary to perform a new round of due diligence to help me decide what to … More

5 Supplier Diversity Best Practices

As you know from my previous blog post, supplier diversity programs bring great value your organization by: Finding creative ways to approach and fund initiatives that will have a positive impact on the organization Protecting the company from risk Bringing integrity, accountability and transparency to the organization So, how can you create a program that will have a strong impact on your organization? Here are five best practices to help you develop a supplier diversity program: 1 – Do your … More

Are You Leveraging Your Myers-Briggs ‘Type’ for Maximum Success?

Welcome back! Just joining in? Check out Part 1, Part 2 and Part 3! Many of us have taken the Myers-Briggs personality test, either in school or on the job. One of the core principles is that there are no good or bad results, just results. Taking the test is supposed to help you understand yourself better, understanding your natural inclinations. That way, when you are under stress, not only will you be able to predict how you are likely … More

What is Supplier Diversity?

If someone came up to you and asked you, “What is supplier diversity?” – What would you say? Your answer might be different based on your industry, job role, or even experience. In fact, supplier diversity often means something different for every company. But for the purpose of today, let’s look at supplier diversity around this definition: supplier diversity is a proactive approach of sourcing products and services from the following business categories: Minority-owned Woman-owned Disabled-owned Previously-owned Etc. So why … More

For Innovative Sourcing: Date More, Marry Less

Anyone who’s been in the outsourcing business for any length of time has heard the cliché that outsourcing relationships are like marriages – they require hard work and commitment over the long term. Well, maybe it’s time to change that. Rather than marrying your next outsourcing provider, take them out on a date and see how things go from there. The fact is, our current approach to outsourcing contracts is completely out of touch with the needs of a business … More