Category Archives: Supply Management Best Practices

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

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

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

Analytics on the Brain in 2014

The emergence of Big Data has created a demand in the ability to understand and make sense out of an increasingly amount structured and unstructured information. The increased interest in analytics has given rise to a “culture of analysis” where procurement now sees: More data is being collected with an increased portion of this data to be analyzed coming from unstructured data sources such as pdf files, PPTs, emails, blog entries, wikis, word processing documents, photos, graphic images, videos, streaming … More

4 Tips for Recovering From Supply Chain Disasters

What happens when disaster strikes your supply chain? As a modern sourcing pro, you understand your role in your company’s supply chain operations and supplier risk program. Even though you can’t avoid ALL supply chain disasters, having a plan in place and being proactive when responding to changes in your marketplace and your supply base is a critical to your company’s success. If you aren’t sure where to start in developing your supply chain disaster plan, start with these four … More

Prego & Supplier Data: “It’s in there!”

Years ago, Prego televised a commercial for their spaghetti sauce with the catch phrase, “it’s in there.” The commercial went something like this… A father enters the house for a spaghetti dinner and condones his son’s wife for using sauce from a jar. The father continues to talk about garlic, herbs and onions to which the son replies, “it’s in there.” For those not familiar with the commercial, you can view it here. So, how does a can of Prego … More

Kissing the Frog: How Procurement Can Develop Strategic Supplier Relationships: Part 2

Welcome back! Just joining us? Click here to read Part 1 of this series. As you can tell from my previous blog post, there is a great deal of information to consider when trying developing strategic supplier relationships. If you are like many of Iasta’s clients, these questions are all important to the identification and development of strategic suppliers. However, there is high likelihood supplier information is living in the following areas/systems across the business landscape: Spend systems (ERP, P-Card, … More

5 Supplier Diversity Best Practices

As you know from my previous blog post, supplier diversity programs bring great value your organization by: Finding creative ways to approach and fund initiatives that will have a positive impact on the organization Protecting the company from risk Bringing integrity, accountability and transparency to the organization So, how can you create a program that will have a strong impact on your organization? Here are five best practices to help you develop a supplier diversity program: 1 – Do your … More

Stakeholder Sympathy is Not Enough

There are words in the English language that we commonly misuse out of habit – sympathy being one of them. It sounds similar to empathy, so which word do we use and when? Knowing the difference between the two will make a difference when dealing with internal stakeholders. So, it’s important to use them appropriately! According to a synonym study in the Random House Dictionary (2013), sympathy signifies “a general kinship with another’s feelings”, while empathy refers to “a vicarious … More

In the New Norm of Fiscal Cliffs, Governments Need Powerful Budgeting Tools

Until recently, governments at all levels have found the market for budgeting tools to be woefully inadequate. Accordingly, most governmental organizations continue to use cobbled-together, Frankenstein-like budgeting tools that, more often than not, rely on users to extract or re-enter data in offline spreadsheets to analyze budgetary policy proposals. Such tools are labor-intensive, inflexible, error prone, limited by the data collected and fail to provide timely, sufficient budgetary insight to optimize resource allocation. In this time of greater public budget … More

Mid-Market Companies Make Positive Impacts on Global Supply Chain & Economy

According to an article on Inside Supply Management, “Recent research into middle-market companies, those with annual revenue between US$10 million and $1 billion, finds they are the growth engines in today’s economy.” Another interesting statistic from the article?  If the nearly 200,000 U.S. middle-market companies were their own country, that country would be the fourth largest economy in the world, behind Japan and ahead of Germany. As middle-market companies continue to grow and shine in our economy, the Ohio State … More

10 Ways to Drive Procurement Value: Part 5

As part of our blog series highlighting advice offered by Jason Busch from Spend Matters in our recent, this installment discusses idea # 5:  Advanced Procurement Strategies for Supplier Performance Management. Click to read Part 1, Part 2, Part 3, and Part 4. Successful procurement groups are using their Supplier Performance Management (SPM) processes and tools to reap benefits far beyond basic performance data.  SPM implementations have moved from simply collecting and monitoring supplier data on key performance indicators to … More

New Supply Chain Strategies to Maximize Product Value and Growth- Gartner Webinar Review – Part 2

In Part 1, I discussed serveral companies discussed in the Gartner Webinar that recognize the importance of having a good balance of understanding product and opertional excellence. You can read Part 1 here. One of Burkett’s major points in this Webinar is that to realize value across a products’ lifecycle a company must consider the product, supply chain and demand from the beginning of the its life. They must anticipate challenges in early introduction and have created a supply chain … More

New Supply Chain Strategies to Maximize Product Value and Growth- Gartner Webinar Review – Part 1

Michael Burkett, VP Research at Gartner conducted a compelling Webinar last week titled, “New Supply Chain Strategies to Maximize Product Value and Growth.” The key message of Burkett’s presentation is that product value is maximized when the supply chain is considered and integrated throughout the product’s lifecycle. New products fail 50% of the time. Why? Contributing factors include product cost issues, inventory shortages and poor commercialization process, to name a few. Profitable innovation is key to bringing new products to … More

Iasta’s reSource ’12 to take place in Las Vegas!

Iasta’s annual user group conference, reSource ’12, will take place on March 12-13, 2012 at The Cosmopolitan of Las Vegas. reSource ’12 is designed for Iasta customers and prospects who are responsible for procurement within their organization, especially super users, decision makers and new users. Click here for more information about Iasta’s reSource ’12 event. “We are very excited to host our annual user group conference in Las Vegas this year,” said Melissa Beuc, senior director of product marketing of Iasta … More