Category Archives: Technology

Technology

Participate In IASTA and Efficio’s Global Procurement Survey

Iasta has partnered with Efficio to research how procurement maturity varies globally and address the steps procurement leaders are taking to become change agents in their organizations. Our hope is the survey results will help us better understand procurement’s organizational impact from a global perspective. We are asking questions around: The big picture – What are your top challenges and plans over the next two years? The sourcing process – How do you prioritize, manage, and report on your projects … 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

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

5 Easy-to-Keep Goals for 2014

It’s February. You have a full month of New Year’s resolutions under your belt. Are you still on track to reach your goals for 2014? Even if you’ve modified your original plans for a personal (or professional) lifestyle change, you don’t have to fail! At Iasta, customer success is our obsession. We love sharing our customer’s success stories. We’ve put together 5 easy-to-keep goals and best practices that have helped our clients take their sourcing initiatives to the next level … More

Your Top 10 Questions About Supplier Risk & Big Data

Are you suffering from information overload? If so, you aren’t alone! We live in a word full of too much information and data being thrown at us- both personally and professionally. In fact, Gartner predicts that enterprise data will grow 650 percent in the next five years. And IDC argues that world’s information now doubles every year and half. Talk about an explosion of data! Trying to get a handle on this information and knowing the best ways to create … 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

3 Spend Analytics Lessons…From My Closet

Sourcing professionals and researchers advocating spend analytics often say, “You need to be able to predict future spending based on past spending behavior.” However, as for AOL and the industry we are in, I personally believe this statement isn’t always accurate, so I’d like to offer a different perspective – from my closet. We’ve all been there… We grab a pair of pants from our closet, put them on, and realize they do not fit the way they did last … More

4 Procurement Predictions for 2014: Part 2

Welcome back! Just joining in? In Part 1 I discussed two trends that we should look for in Procurement in 2014. Today, I’ll share the final two trends: 3-Increased consolidation of procurement and supplier data analytics –Analytics will continue to drive improvements in the ability to take action in business, probably more than any other technology medium for procurement and business at large. Due to the “Big Data” phenomenon, Analytic / BI platforms will increasingly need to accommodate third party … More

Is Your Supplier Management Strategy Inclusive?

Supplier diversity programs are common in large organizations such as Apple, Johnson & Johnson, and Walmart. Even smaller organizations are starting to recognize the importance of having a supplier diversity program in place. Usually procurement is responsible for managing and reporting on progress against diversity targets, but successful organizations will find ways to include and inspire the entire company to participate in the supplier diversity program. Even though supplier diversity can mean something different for every company, a recent article … More

Moving Beyond Cost Reduction to Cost Avoidance: Part 2

Welcome back! Just joining in? Check out Part 1. In order to better understand the trend towards cost avoidance, consider traditional cost containment questions in sourcing which may include: What is the historical price of what we are buying? What discounts / savings can we get from buying now? What is our existing contractual relationship with that supplier? However, when addressing cost avoidance, the questions become much more complex. A cost avoidance mentality drums up sourcing questions such as: What … More

The RFx Prescription

You could say I’m in the RFP business. Or, more accurately, the RFx business, given that I interact with RFIs, RFPs, RFQs, RFTs, and the like every week. On a regular basis, I request a great deal of information or feedback, and receive numerous requests of my company. I get to see the process of requesting information, price and non-price, from every angle. I answer questions of sourcing pros who are considering purchasing Iasta sourcing software; I build existing vendor … 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

Go Beyond with Spend Analysis: 3 Ways to Improve Your Modern Sourcing Process

Have you uncovered the hidden potential lying within your data? Data visibility is often the most challenging for procurement pros to achieve. Scott McBride (Iasta Director of Global Alliances) shares the importance of “going beyond” with spend analysis in this short video below. With Scott’s perspective in mind, below are three ways you can improve your modern sourcing process using spend analysis: 1-Centralize your data. Data in a silo is useless. When data lies in different systems, the information is … 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

6 Steps to Implement a Successful Auction

Dave Harman, eSourcing Strategy Lead at Centrica, presented at eWorld London 2013 and shared Centria’s experience with M&A transition plans. In my opinion, the most impactful part of his presentation was how Centrica used auctions to initiate a smooth transition between the new company and parent company. Dave expressed that quick wins spring from the use of auctions, not only from a cost and immediate market feedback perspective, but also from a procurement perspective, introducing a standard methodology to use … More