Category Archives: Supplier Performance & Risk Management

Supplier Performance & Risk Management

Where to find contract management discussions at ISM 2015

ISM’s annual supply management conference is just around the corner, May 3 – 6 in Phoenix. If you haven’t yet made plans to attend, there’s still time to look into it. If your travel plans are all in place, then you have to make some tough decisions about which breakout sessions to attend. This year, the tracks at ISM 2015 are decidedly strategic and value oriented, making it harder to determine which sessions offer the processes that can best benefit … More

A visionary focused on helping procurement improve contract management

Just a couple of days ago, Gartner published its Magic Quadrant for Strategic Sourcing Suites, February 2015. We are proud to note that we have been recognized by Gartner as a visionary in the latest Moving from the leader’s quadrant into the top portion of the visionary quadrant, we take into account our adjustment from the previous report in July 2013. The elimination of many other vendors from the pool should also be noted. One could argue the changes in … More

Procurement Goes Back to Kindergarten for a Lesson in Relationships

As kids enter Kindergarten, one of the basic lessons we teach them is learning how to play well with other children. Almost any kindergartner will tell you, “If you play nice with others, they will play nice with you.” But as adults, it seems as though we’ve forgotten this basic lesson we teach children – especially in the daily routine of our working relationships. Procurement is no exception. For instance, from a procurement perspective, it has often been argued that … 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

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

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

3 Real Supply Chain Disasters

Has your company ever experienced a supply chain disruption that turned your company upside down? Have you ever experienced a day at the office like this?… Phones are ringing off the hook. Everyone is running around the office- frantically looking for their supervisors. The media is knocking on your door- demanding answers or at least a comment. Facebook and Twitter are blowing up with comments about your company’s supply chain disaster. Maybe you’re lucky enough to never experience a supply … 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

6 Goals to Add to Your Sourcing Bucket List

Most of us have a bucket list filled with both personal and professional hopes and dreams. Whether your bucket list includes a sky diving trip on your next birthday or becoming the next CPO of your company, you likely have goals that motivate you on a daily basis. If you lead a sourcing organization and are looking to add some goals to your professional bucket list, here are six accomplishments you can add to your sourcing bucket list: 1)    Mitigate … More