Category Archives: Supply Management Best Practices
This article was first published in ACC Docket, September 2016. The cloud will make your legal team’s global operations more efficient. The cloud will also bring much-needed transparency to and increased collaboration with your company’s suppliers.
One idea that has not changed, nor will ever change for procurement, is the importance of managing cost. In fact, procurement’s raison d’être, headed by the Chief Procurement Officer or other procurement executive, is and always will be focused on controlling cost; but it increasingly requires the adaptability to adjust to the world around it.
Introduction to SIM & CLM: Why supplier risk isn’t just a Fortune 100 company issue. The responsibility for managing suppliers and supplier contracts has taken on a heightened level of interest and concern in recent years. Highly regulated industries including finance, healthcare and food services, are forced to re-evaluate how supplier information is collected and how contracts are managed. With fines that can be in the millions, the potential of being audited and penalized due to non-compliance is real.
“Lean production is a work organization model that favors the development of proactive, competent employees who are prepared and motivated to think and suggest improvements.” — Philippe Hidden behind the magical power of measurement quantified using intrinsically false data, Management is finding itself unable to deliver performance in a complex world within ever more complex organizations. Didn’t Lean Management provide the keys to performance? In the 1990s, didn’t the complexity sciences largely contribute to the revival of the practice of … More
With blogs, such as this, or any social media connection—email, text, online media in general—it seems that building relationships has become a lost art. However, I beg to differ and will explain. This blog is about Relationship Economics and how it’s still as valuable as ever and even in vogue. In today’s economy, relationships are perhaps the new currency. A relationship describes a connection or association between people and/or things. Economics is about resource abundance, scarcity and allocation, the distribution … More
[Note: This article was originally posted on CPORising.com. Determine is pleased to contribute regularly to Ardent Partners blog on the topics of procurement and supply management. You can read the original post and other content from Ardent Partners HERE.] Needless to say, the start of year has hardly been one for celebration. Recent volatility in the stock market has been driven by the Chinese bubble economy, oil prices hitting a 13 year low of $25 a barrel, and crisis in … More
All enterprises, our customers and prospects included, share a common challenge when it comes to supply management, That challenge is the burden of having a plethora of siloed solutions. The solutions range from supposedly comprehensive spend management platforms to spreadsheets and manual processes, to category-specific solutions and supplier portals. Help, however, is on the way and it isn’t taking the form of the unattainable ERP vision of one all-inclusive behemoth. Enterprise technology solutions tasked with making business processes work better, … More
Talking about cloud computing today has become commonplace as cloud-based technologies play a more critical role in business. But much like other technological innovations, one thing leads to another, with each iteration building on its predecessor. Consider the evolution of the power grid, of telecommunications, of the personal computer, or of the Internet. Based on the advances of technology leaders like Amazon, Google and Salesforce. Today, most of us in the IT industry understand that it is the evolving technology … More
A lot has already changed within the first few weeks of the year. The China asset bubble finally burst, oil prices are near $25 a barrel and indicators predict especially uncertain times. Could 2016 be the year that we see the predictions of 2008 come home to roost? Whatever the year holds, David Bowie was right, the future will not be boring. As we hope for the best and prepare for the worst, here are my key business considerations for … More
Successful implementations that meet complex customer needs begin with strong relationships. We know that strong relationships are based on integrity, which takes time and effort to develop. But believe me, the ROI of integrity is real. From lower churn, more referral customers and loyal clients to shorter sales cycles, bigger deals, happier employees and more innovative solutions — investing in integrity is good for business. In fact, integrity is one of our core values at Determine. Having integrity leads to … More
Happy New Year! Welcome to 2016! Just a couple weeks into the new year and maybe 75 percent of resolution makers are still on track, in six months fewer than half will be. To make things happen this year, most of us need to focus on a few key (and achievable) goals. If you don’t know where to start, Determine™ can help! You can chat with one of our experts about 2016 planning. We can help with successfully managing your challenges … More
While I’m certainly not one for unbridled patriotism, I’ve always had a soft spot for the motto “e pluribus unum.” It could be that it takes me back to my days of high school Latin but that does not fully account for the sentimental impact of the words. The translation, like most from Latin, allows for a bit of nuanced interpretation. The range of translations typically include “One out of many” or “One from many,” and the one favored in … More
To understand the trend in technology and how Determine is addressing it is by looking at this from the persona of the company. Organizations want to be smarter by being able to collaborate in new ways using a common platform approach. Taking this concept as part of adopting solutions is something Forrester Research has looked at around the concept of a smart process applications. According to Forrester, what defines a smart process application is the ability to: Import or embed … More
Today, we’re very excited to unveil not just a new brand identity and a name, but a brand-new company. Determine, Inc.™ is the result of years of work and planning by many people sharing a singular view about how to best position ourselves and shape the company for the future. Now we’re ready for it, and I couldn’t be more proud. As CEO of Determine, this transformation is one of the defining moments of my career. It has long been … More
This is the fourth in a five-part series discussing the obstacles and potential paths forward to achieve visibility – essential to any Procurement organization. The article was initiated based upon the following Ardent paper – HERE. In the first, second and third installment overall Spend and Savings were discussed. Let’s examine the third key area or leading indicator of procurement success: Risk. Risk For the past couple of years, I have been talking to prospects and customers about the topic … More