Category Archives: Sourcing Best Practices

Sourcing Best Practices

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

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

5 Critical Mistakes Sourcing Managers Make

There is no denying the power and influence that sourcing managers have today. Organizations are leaning heavily on sourcing teams to keep costs low, value high, and supplier risk even lower. Even sourcing mangers that use top-notch platforms and follow a strict sourcing process can fall short if they are making one (or all) of these critical sourcing mistakes. Here are the five sourcing mistakes we hear (and see) sourcing managers make – and how to avoid them. Inviting suppliers … More

4 Tips to Tame the Sourcing Monster

Is there a sourcing monster lurking around your office? He’s known to wreak havoc in your sourcing software, causing your database to become messy and confusing. The sourcing monster makes using eSourcing tools increasingly more time-consuming, degrades the efficiency of your standard processes, compromises integrity of the eSourcing process, frustrates users, and lowers adoption. You’ll know the monster’s been hiding under your desk once you log into the system and realize he is: Sending RFPs with outdated and inconsistent legal … More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

6 Ways Retailers Benefit from Using Modern Sourcing Solutions

The retail industry runs a high supply chain risk as a result of high public visibility and being consumer-focused. In order for retailers to be successful in a heavily competitive marketplace, they must adopt and advance modern sourcing and procurement approaches that go beyond cost savings efforts alone. These modern approaches create a combination of tools and processes that allow for greater visibility. Modern sourcing tools and processes also give procurement teams the ability to reduce risk from the supply … More

4 Tips to Ensure a Successful Supplier Relationship

When evaluating the market, you want to identify and target suppliers who fit your organization’s needs best. Think of it as if you’re interviewing a candidate for a new position at your company. It’s a two-way street – you want to impress the candidate as much as they are trying to impress you. Most importantly, make sure the relationship is the right fit for both parties before entering into a partnership. Consider these 4 tips when choosing your next supplier … More

Why Retail Needs to Think Beyond Cost to Deliver Innovation

When you hear “retail” – what terms come to mind? We’ve found that retail is a broad term that can incorporate many different sectors, especially for global organizations. Retail can cover heavily regulated areas such as food and drugs, but retail also includes: Apparel Electronics Furniture Health & Beauty Regardless of how you view or analyze retail, the industry as a whole is tied by its consumer-focused nature. And due to this large amount of public visibility, retail runs a … 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

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