Category Archives: Sourcing Best Practices

Sourcing Best Practices

4 Ways to Avoid a Horrible Software Implementation

Anyone who has undergone multiple enterprise software implementations can probably tell horror stories about failed deployments. Some software implementations end up taking months, or even years, longer than planned.  Other implementations never even get off the ground because there was not a plan around how to properly implement the new software after purchase. Furthermore, if your software users are poorly trained or face usability difficulties, your software implementation efforts will end up being a waste of both time and money. … More

3 Drivers for Procurement Automation Success

What is driving procurement automation success today, and how can procurement teams plan for the best possible outcome in their source-to-pay transformation? On May 29th, Iasta joined Verian in a webinar titled “Top Drivers in Source-to-Pay Transformation: 3 Keys to Quicker Time to Value.” In only an hour’s time, the panelists covered a number of diverse topics such as: The definition of the source-to-pay cycle The goals of procurement automation ERP vs. best-of-breed vendors Source-to-pay metrics that matter Today, I … More

Speed up Savings with a Modern Sourcing Approach

The month of May means racing is on our brains here in Indianapolis. The Indy 500 is just days away and our city’s excitement for speed and racing is contagious. With this “need for speed” in mind, I’ve been asking myself this question: How do we help our clients go after these top savings priorities in the quickest and most efficient way? The answer, I believe, starts by looking at some industry research. Over the last few years, we’ve seen … More

Deliver the ROI You Promised in Your Source-to-Pay Transformation

You want to automate the source-to-pay cycle, but what solution is best for your business? Would focused specialty solutions serve you best? Should you consider a monolithic enterprise platform? Without understanding the tradeoffs that accompany these decisions, you may not realize the ROI you need within an acceptable time frame. The Source-to-Pay cycle in mid- to large-sized enterprises encompasses diverse teams with unique application requirements.  As these enterprises embark on the automation journey, they are faced with a variety of solutions, … More

4 Ways Sourcing Can Bridge the Innovation Gap

Paul Walker and Sarah Coulter presented on behalf of the Clorox Global Strategic Sourcing (GSS) Organization at the 99th annual ISM conference in Las Vegas about innovation in sourcing practices. Clorox has developed a unique approach to growing the business through innovative partnerships and has learned a few things along the way. These learnings were shared at the ISM conference last week, and there were four key messages I took away from the presentation that led to the success of … More

6 Steps to Green Sourcing

Happy Earth Day! Since 1970, people have been celebrating Earth Day in a variety of ways: gardening, recycling, educating others about sustainable practices, saving energy, etc. But, as a modern sourcing pro, what can you do in your organization to help celebrate Earth Day? I came across a whitepaper from Deloitte titled, “A Practical Guide to Green Sourcing.” The whitepaper discusses a 6 step strategic green sourcing process and the “green” steps you can take in your organization to emphasize … More

How to Develop Strong Vendor Relationships & Strategic Partnerships

As I’ve mentioned in my previous blog post, internal communication and alignment are key factors for a Procurement team who wishes to increase their real and perceived value to their organization, as well as their influence.  The vision for the Procurement team should align with the vision for the overall organization. Additionally, being able to effectively communicate Procurement’s impact on the company’s mission and vision is critical to success. In this post, I’d like to further suggest that Procurement view … More

8 Benefits eSourcing Can Provide Suppliers

Supplier organizations are often hesitant to participate in a RFP or an eAuction because they feel a supplier may have already been selected, and they may just be a placeholder for the process. Of course there are times where this can occur, but as long as the cost of participating is less than the potential benefit from participating, a supplier can/will benefit from participating in eSourcing. Below are 8 benefits eSourcing can provide suppliers: #1. Increased transparency in purchasing process – … More

3 Reasons to Implement a Supplier Diversity Program

April is Celebrate Diversity Month, which started in 2004 to recognize and honor the diversity surrounding us all. Diversity can be recognized in many ways – from self-expression, to a difference of opinion, to choosing diverse suppliers – but one thing is certain, we celebrate diversity in hope that people will gain deeper understanding of the diverse group of backgrounds and cultures. As for procurement, supplier diversity programs are just as important to recognize (and celebrate). Today, supplier diversity programs … More

5 Ways Sourcing Teams Can Start Spring Cleaning

As the weather starts warming up and hibernation days are waning, we tend to get the urge to reorganize and clean up the mess that accumulated while hiding from the cold. This phenomenon that helps pull us out of the funk of winter and into a fresh start is referred to as spring cleaning, and it can be applied to more areas of your life besides the home. You can probably start thinking about ways to clean up around the … More

5 Communication Tactics for Modern Sourcing Pros

Not everyone has a knack for strong communication. We live in a technology-driven world where instant messages, emails, and text messages drive most of our conversations. In fact, some people would actually prefer these digital communications over face-to-face interactions. But there is no denying the benefit of in-person communications. You can pick up on body language in the room and people are more likely to ask questions and participate in the conversation. As a Modern Sourcing Pro, you need to … More

8 Signs You Are Ready to Adopt a Modern Sourcing Solution

I can rattle of many reasons why teams should consider implementing a modern sourcing solution. Even though each company will have different challenges, needs, and goals; if your team is experiencing any of these eight signs below, now is the time to adopt a modern sourcing solution! Sign #1: Limited Or No Visibility Into Your Company’s Spend If you have limited or no visibility into your spend, you are likely missing out on hard dollar savings. A spend analysis solution … More

Keeping the Procurement System Working Like a Well Oiled Machine

Procurement is more than the process of finding, contracting, buying, and paying for products and services. In an effort to do all of these things and more in a way that creates a sustained corporate competitive advantage, most procurement organizations have built up systems of initiatives, each of which offers some improvement to their performance or results. This system of loosely interconnected disciplines and solutions drives procurement’s efforts through the procure-to-pay process and beyond. Some of the most common procurement … More

10 Lessons the Olympics Can Teach Procurement: Part 2

Welcome back! Just joining in? In my last post, I discussed 5 lessons the Olympics can teach procurement. Today, I’ll share the last 5 lessons: 6- Focus Under Pressure – Procurement is more focused than ever at getting a seat at the proverbial table. Demonstrating how procurement creates value is essential. In the past, the value procurement has provided has often been put into question. Today, procurement has the opportunity to change this perception. 7- Expect More – As procurement … More

10 Lessons the Olympics Can Teach Procurement: Part 1

This year in Sochi, Russia, many of us witnessed the amazing feats of the more than 6,000 athletes that competed in the 2014 Winter Olympics. The Olympics have always been a source of inspiration for those who are hungry for great success stories, including the business world. So, the question is, “What can the Olympics teach procurement?” Whether you are a seasoned procurement professional or new to the role, there are lessons the Olympics can teach procurement. In Part 1, … More