Category Archives: General

General

Contracts Go Enterprise: Increase Strategic Value of Procurement with ECLM

What can Enterprise Contract Lifecycle Management do for you? We’re glad you asked – and we’re excited to answer that question in Selectica’s upcoming webinar with guest presenter Andrew Bartels from Forrester Research Inc. Now, we realize that relative to other procurement responsibilities and activities, contract lifecycle management (CLM) may not consume much of your day. You have pressures from your executive team to reduce costs. You are being told to provide powerful analytics that share valuable insights into future … More

Communication Key to Driving Value Out of SME Suppliers

There is no denying the value that small and minority-owned suppliers offer to businesses, but securing that value has proved to be trickier for procurement. Small and medium-sized suppliers, and in particular those owned by minority groups, are more innovative and more responsive than their larger counterparts tend to be. For their customers and the procurement teams they work with this means they can benefit from them being more nimble, able to respond quickly to the changing needs of the … More

3 Points for Procurement to Consider as a Modern Organization

How can procurement define itself as a modern procurement organization? Recently at Iasta reSource 2014 in Indianapolis, Selectica’s Erick Mott had the opportunity to interview Marc Hochman of A.T. Kearney about his session on Supply Team 2020. During the interview, Marc shared three key takeaways for procurement teams to consider as a modern organization: Procurement has a huge opportunity to deliver value to their organization. Procurement needs to collaborate and use the same “language” as our colleagues in Finance and … More

7 Scary Moments When Building Sourcing Projects

Imagine this: It’s Halloween night and you’ve just committed to complete a sourcing project with a tight deadline. You must stay late at the office in order to complete the project in time. Everyone has left for the day and you’re all alone. Suddenly, the lights flicker. You hear a creek at the door and then footsteps in the distance… Are your palms sweaty? Is your heart racing? Unfortunately, I can’t help you avoid that scary situation. Although, I’d recommend … More

3 Ways to Get Your Procurement Mojo Back

I recently read a blog post from MyPurchasingCenter.com titled, Procurement Missing Out on Empowering Opportunities. The article reviewed a new book that discusses what’s holding so many procurement organizations back from realizing their full potential. In the book titled, Procurement Mojo: Strengthening the Function and Raising Its Profile, Sigi Osagie describes the kind of “mojo” procurement professionals need to be more effective and successful on the job. To summarize, Osagie describes Procurement Mojo in a series of 5 steps: Build … More

Finding the “Zen State” for the Modern CPO: Part 2

Last month, I hosted a roundtable discussion, “Finding the ‘Zen State’ for the modern CPO.” During the breakout session, I challenged thirteen procurement leaders to identify ways they can find a “state of harmony” in the dojo of the modern enterprise. In part 1 of my blog post, I shared the findings of the group’s top internal and external challenges the CPO is facing today. In part 2, I’ll be sharing how CPOs are applying innovation to their organizations for … More

4 Tips to Deliver Winning Results in Procurement

October is considered one of the “favorite months” in my house. It brings fall weather, pumpkin-flavored everything, and football! And now that football season is in full swing, I can’t help but think about the parallels between procurement pros and pro football players. Being a procurement pro is hard work. Procurement is constantly changing- new technologies are popping up, and you’re always asked to do more with less and increase procurement’s value. Similarly, the life of a pro football player … More

3 Reasons Why We’re Excited to Attend Procurement Leaders Zurich Forum

Procurement Leaders Zurich Forum tickets purchased? Check! Plane tickets & hotel room booked? Check! Bags packed? Check! We’re ready to travel to the UK next week for Procurement Leaders Zurich Forum next week on October 15! This year’s theme is: Maximising Procurement Value Through Process Improvement and Innovation. We can’t wait to embrace this theme through engaging networking sessions, roundtable discussions, and inspiring keynote presentations. Below are three reasons why we’re excited to attend Procurement Leader’s Zurich Forum: 1-Gain inspiration … More

Improving Collaboration within Supplier Relationship Management

A few weeks ago at Iasta reSource Indianapolis, I hosted a roundtable titled, “What is Supplier Relationship Management? Discuss supplier partnerships that inspire, improving communication.” We had a great discussion around supplier relationships, so I wanted to share some interesting discussion points that could help you to start thinking about what supplier relationship management really means in your organization. A common issue procurement teams face when managing supplier relationships includes coordinating with stakeholders to ensure the relationship is going well … More

Finding the “Zen State” for the Modern CPO: Part 1

A few weeks ago at Iasta reSource Indianapolis, I had the privilege of hosting a roundtable discussion, “Finding the ‘Zen State’ for the Modern CPO.” During the breakout session, I challenged thirteen procurement leaders to identify ways they can find a “state of harmony” in the dojo of the modern enterprise. After brief introductions around the room, we looked to find our Zen state by breaking down the challenges of modern CPOs into two core areas: Internal Pressures (Yin) and … More

ROSMA and Supply Chain in 2020

Iasta recently hosted our user conference (Iasta reSource) in Indianapolis on September 9-11, 2014. The conference was a great opportunity for our clients to come together and network with peers, attend sessions led by fellow Iasta clients sharing their success stories, and participate in interactive sessions lead by experts such as A. T. Kearney. One of my favorite sessions during the conference was led by Marc Hochman at A. T. Kearney titled, “Supply Team 2020”. Marc discussed the progression that … More

3 Reasons to Join IASTA at ProcureCon Indirect West

ProcureCon Indirect West is right around the corner – September 15, 16, and 17 in Litchfield Park, Arizona. This year’s theme is: Where Sourcing Meets Innovation. Iasta is attending and we are excited to embrace this theme through engaging networking sessions and even hosting an interactive roundtable of our own! If you’re a CPO or director from a large or small spend company, here are 5 reasons why you should join us at ProcureCon Indirect West: 1-Participate in an interactive … More

Collaborative Supply Thinking Outside of the ‘Giga’ Box

Has your organization considered entering into a highly collaborative supply relationship? Some organizations are moving in this direction. Let’s take Tesla Motors and Panasonic for an example. On July 31st, Tesla Motors announced details about their plan to build a lithium-ion battery factory (Tesla Gigafactory) with their primary battery supplier, Panasonic. The factory will most likely be located in the Reno, Nevada area and is being hailed as the solution to Tesla’s lithium-ion battery supply constraints. According to current plans, … More

Beyond Contract Management 101: Webinar with Spend Matters & Selectica

As adult procurement people, the first week of September may not remind you of fresh notebook paper, new pencils, and back to school shopping (my personal favorite time of year as a kid). But it’s still back-to-school season, and we want to help you get back into the contract management game. Whether you’ve taken a break from contract management for the summer (or much longer than that), it’s time to dust off those best practice guides and start putting your … More

Procurement’s Ever-Growing Role in Retail

It’s been 10 years since AT Kearney categorized retailers into three different categories: Food and drug retailers, who sell just what you would expect (food and drugs) Soft line retailers, who sell apparel Hard line retailers, who sell appliances, electronics, and furniture Although these classifications still exist, the definitions have blurred considerably in recent times. Take Wal-Mart, for example. Wal-Mart is a hypermarket giant that combines all three of the above categories under one roof. And as we all know, … More