Category Archives: Supplier Information Management

Supplier Information Management

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

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

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

What’s old may be new again – M&A and eAuctions – Part 1

As is often the case with many ideas in business, trends capture attention of decision makers in terms of what is possible. Procurement is no exception. Consider progressive concepts that advance procurement activities related to emerging areas such as in supplier risk or predictive analytics; both hot areas where Iasta continues to be focused for defining the modern sourcing paradigm. But trends also come from what was once considered old with a new spin. A perfect example of this is … More

Fantasy Football and Procurement: 4 Tips to Choosing a Winning Supply Network

Football season is upon us! Have you started developing your strategy to pick the winning team for 2014? Many football fanatics have begun their annual Fantasy Football draft preparations – analyzing statistics of players-yards carried, completed passes, and playing time to create the “perfect” football team. Understanding and analyzing the stats of each player is critical for “coaches” when drafting their teams. Creating spreadsheets, scanning the internet, and looking for the most up to date player’s statistics are critical tactics … More

Key Ingredients for Baking the Perfect Sourcing Cupcake

Have you ever thought of what ingredients it would take to bake a sourcing cupcake? Unless you’re a baker and procurement pro, the thought has probably never crossed your mind. But I’m a baker – and refer to myself as a “Modern Betty Crocker”, so this crazy thought crossed my mind the other day when I was baking Mudslide cupcakes. (Mmmmm) So, I started thinking, “What ingredients would I need to bake the perfect sourcing cupcake?”  In order to bake … 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

Kissing the Frog: How Procurement Can Develop Strategic Supplier Relationships: Part 1

Most procurement organizations are focused on developing strategic relationships with suppliers.  I recently listened to an extensive conversation about this topic at the Procurement Leaders Conference in Chicago. For a better understanding of the discussion, check out what Jason Busch recapped here and here. The panel discussion covered this topic (among many others), and this procurement challenge has been top of mind for me since that day. The term “Kissing the Frog” was used to describe the process Procurement professionals … 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

Is Your Procurement Organization Dancing in the Dark?

Break out your dancing shoes, brush off the dust, and turn on the lights…it’s time to stop dancing in the dark! We find that a lot of procurement organizations are “dancing in the dark” because they don’t have the proper visibility into their spend and sourcing pipeline. Without this insight, you could be losing out on hard dollar savings and efficiencies! Iasta recently hosted a Webinar with AOL and Spend Matters, “Vote for Visibility: Yes, Procurement and Data can Dance.” … More

eSourcing and eProcurement Go Together like Peanut Butter & Jelly

eSourcing and eProcurement are a perfect pair – they go together like peanut butter and jelly. When used together, these solutions can transform any organization and empower purchasing pros to make data-driven business decisions. So where does the rubber meet the road? And what does it take to get the implementation right? We recently hosted a Webinar with Procurement Leaders, Equifax (an Iasta Client), and Guardian Life Insurance about the most pressing topics and best practices for implementing eSourcing and … More

4 Benefits of Contract Management Systems

Contract management is an important aspect of managing supplier relationships and ensuring that commodities and services are negotiated at the right time. Unfortunately contracts are often managed poorly within a company. Even a smaller company can have hundreds of active agreements, adding up to thousands of contract terms and clauses. As you may know, not one of those contract terms carries much weight if the agreement isn’t monitored and enforced. Procurement Managers know that getting a fair price on goods … More

How Buyers, Suppliers, and Stakeholders Drive eSourcing Adoption

It’s easy to get caught up the “go live date” for your eSourcing software implementation. Many procurement leaders believe their team will be empowered to succeed simply by turning on a tool. However, that is not the case. Michael van Keulen from VF Corporation (an Iasta client) shared some best practices and advice at eWorld London for groups who are rolling out new eSourcing software. Michael shared some key elements from VF Corp’s successful eSourcing technology adoption that included: Developing … More