Category Archives: General

General

A Current Scandal Proves Why Employee Contracts Shouldn’t Live in Spreadsheets

Identity theft is a huge concern these days with estimates of 15 million people becoming victims each year. And if you’re one of the unlucky ones like me – you know firsthand that identity theft can be expensive! Each year, identity theft cases can total up to more than $50 billion in damages, according to identitytheft.info. With these concerns on the rise, it’s no surprise that employees for a large entertainment organization are upset that hackers found pay rates, social … More

The New (Old) Battleground: Marketing vs Procurement

“If you had marketers on boards they could put procurement back in their box, which is where procurement really belongs.” I’ll let that statement sink in for a minute… … That bold piece of verbiage came from by Mat Baxter, chief executive of media agency UM, at the Publish conference in Sydney, Australia last week. He was part of a panel discussion talking about the process of selecting media agencies and the relationship that exists between media buyers, publishers and … More

The Future of CLM in 2015

Recently, Selectica hosted a webinar – now on-demand — titled, Creating Strategic Value from Contract Management. Guest presenter Andrew Bartels, VP and Principal Analyst at Forrester Research, Inc. and Patrick Stakenas, Chief Strategy Officer at Selectica had an interesting discussion on the current landscape of CLM. Andrew shared the findings of his recent report and painted the picture of a complicated landscape of solutions in CLM that shows how technology continues to be placed in buckets of functionality, including buy-side, … More

4 Things Procurement Should be Thankful for This Season

As we approach the holiday season, our schedules can become busy and chaotic. It’s easy to get bogged down and forget the true meaning of why we celebrate Thanksgiving. So, in order to energize our hearts and minds, grab some coffee (lots and lots of coffee!) and start counting your blessings! I’ve put together a list of things a procurement pro should be thankful for this holiday season. 1-Technology: Innovative technology helps you overcome the challenges of modern sourcing- making … More

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