Category Archives: Supply Management Best Practices
How to make friends and influence outcomes Procurement does not have an easy job. We function as the spending conscience of the enterprise. When a contract is going to be awarded, we make sure a careful selection process is followed and that every specification or requirement associated with additional cost earns its place. We ensure that incumbent suppliers deserve renewed business, and push all suppliers to perform their best on behalf of the company. As important as all those things … More
Our recent webinar with IACCM, Contract Management – Beyond the Expected, raised a lot of interesting and varied points about the need for contract lifecycle management, and the potential complexity involved. Especially around data visibility – or lack of it, what Sean Delaney, VP of Sales at Determine, called “data disaggregation.” Which is a fancy-pants way of saying your data is a hot mess.
There is a constant stream of information coming out about GDPR – the General Data Protection Regulation – most of it with a sense of urgency, if not doom, about it. A recent article by Efficio, one of the valued organizations in the DetermineAlliance Partner Program, laid out a very clear and rational explanation for how to approach GDPR compliance. In essence, you need to see where your risks are so you can plan for them.
Considering the amount of negative press that’s generated about physical retail, it’s easy to get the impression that the epitaph is already written on the wall (engraved in brick and mortar by Amazon, according to most accounts). But it’s important to remember one fact: 80% – 90% of retail takes place in actual stores.
If you’re anything like me as a procurement practitioner, you think of our end-to-end process in a linear fashion. It usually starts with spend analysis or some other source of information (budget, ERP, BI system output, etc.) and ends with Contract Management and/or Supplier Performance Management. For us, this is completely logical because the sub-processes that we view as the most “active” portions of procurement – strategic sourcing and negotiation – have been dealt with at this point.
I recently wrote about the differences between product and service procurement: from demand to specifications, and technology to relationship management. But as I pointed out at the end of the post, the idea that “services procurement” is one thing vastly oversimplifies this broad category. Perhaps that is part of what causes product specialists to shy away from services procurement.
A look at CPO Rising 2017: Tools of the Trade Chapters One, Two and Three of CPO Rising 2017: Tools of the Trade covered a lot of ground, from the current state of procurement to the CPO mindset and what best-in-class organizations are doing differently. Chapter Four – Strategies for Success, the final chapter of the report, gives you hard and fast advice and strategies for taking your procurement organization to the next level, and beyond. Take notes.
When it comes to procurement insights, this has to be one of the simplest-to-understand but hard-to-achieve strategies we’ve heard in a long time: “Listen to the needs of the business.”
The United Nations has declared December 9, 2016 “International Anti-Corruption Day” – an effort aimed at raising global awareness of the social and economic impact of corruption, particularly in the developing world. As they explain on their website, “Every year $1 trillion is paid in bribes while an estimated $2.6 trillion is stolen annually through corruption – a sum equivalent to more than 5 per cent of global GDP.” It is easy to agree (especially in the abstract) that corruption is … More
Today, executives in all functions and lines of business are driven to create shareholder value. Nothing can destroy the perceived value of an investment faster than negative press, which can do irreparable damage to a brand. In some cases, the cause of the criticism may not even be due to a company’s own actions, but rather those of their suppliers (or suppliers’ suppliers). When a supply chain extends across the globe, procurement may have to extend the scope of their … More
As we head for another calendar turn, I’d like to thank you, our customers, for being the driving force behind making our solutions ever better as we fully implement our Cloud Platform. The best is yet to come – stay tuned as our global team sets the bar even higher in the year ahead. Get a taste in the following resources. As always, please feel free to contact me with any comments email@example.com. Determine Cloud Platform on cloud 9 Our … More
When we look at software, we often tend to think of the use case in isolation – or as a horizontal if you will. Think back to when you first started using MS Office. Word was for creating documents, of course; PowerPoint for presentations; Excel for spreadsheets; Outlook for emails and calendars. But today, the interactions of all of these business-related activities has blurred the lines of functionality based on intent and use. Creating document templates with PowerPoint or using … More
Just because Halloween is around the corner, kids shouldn’t get all the good stuff. So, we’re handing out the latest in supplier management best practices this month. From risk to spend management to process improvement, our goal is to continue helping you take your procurement organization even further through supplier optimization. If you like what you read, don’t hesitate to share this to your colleagues. Event Recap: France September is always a busy month in France, but this year was … More
In an environment of increased regulations and demand for compliance, organizations are placing their suppliers under increasing scrutiny. Yet, managing supplier information is often near impossible given the the inability of organizations to easily tie supplier information to procure to pay. According to recent research from PayStream Advisors, supplier relationships are often strained due to poor processes resulting from the lack of automation in managing them. In the 2016 P2P for Indirect Spend Report, more than one third of respondents … More
Non-Compliance in Food Safety Is High Risk for Everyone: What SIM & CLM Offers Food Services Industry in the Context of Third-Party Risk Management Like many industries, the food service industry is challenged with having to adhere to regulatory compliance. However, unlike most industries, the impact of lack of compliance regarding quality and safety in the food supply chain is not only a business challenge that presents possible reputational damage, but can potentially pose a huge public health risk. Food … More