10 Lessons the Olympics Can Teach Procurement: Part 2

Welcome back! Just joining in? In my last post, I discussed 5 lessons the Olympics can teach procurement. Today, I’ll share the last 5 lessons: 6- Focus Under Pressure – Procurement is more focused than ever at getting a seat at the proverbial table. Demonstrating how procurement creates value is essential. In the past, the value procurement has provided has often been put into question. Today, procurement has the opportunity to change this perception. 7- Expect More – As procurement … More

10 Lessons the Olympics Can Teach Procurement: Part 1

This year in Sochi, Russia, many of us witnessed the amazing feats of the more than 6,000 athletes that competed in the 2014 Winter Olympics. The Olympics have always been a source of inspiration for those who are hungry for great success stories, including the business world. So, the question is, “What can the Olympics teach procurement?” Whether you are a seasoned procurement professional or new to the role, there are lessons the Olympics can teach procurement. In Part 1, … More

6 Steps to Improve Your Win-Loss Process: Part 2

Welcome back! Just joining in? In Part 1, I discussed the first 3 steps Iasta took in 2013 to improve our win-loss process and shared Iasta’s experience of each step. Today, I’ll share the final 3 steps and our journey each step of the way. Step # 4: Communicating the Process The Win-Loss team put together a presentation complete with process flow charts, sample interview questions, and high-level goals and went on tour. We met with all internal departments to … 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

IASTA Makes 2014 Best Place to Work in Indiana List

Have you heard the exciting news yet? Iasta has been selected as a 2014 Best Place to Work in Indiana.   Our CEO, David Bush, shared this quote in a recent press release, “I am proud that Iasta is being recognized as a top place to work in Indiana. We provide our employees with opportunities and experiences that create a positive and thriving culture. At Iasta, we live and breathe our core values and mission, which help give our employees … More

6 Steps to Improve Your Win-Loss Process: Part 1

Part of planning my goals for 2014 involves reviewing what I did well and what I could improve on from 2013. At Iasta, I’m part of the Win-Loss team and one of my favorite Iasta success stories from 2013 is our revamped win-loss process. Prior to 2013, Iasta performed win-loss interviews with clients and prospects, but we didn’t have a solid process for determining who to interview, when to interview them, and how to communicate results. In hopes of bringing … More

5 Common (and Dangerous) Misconceptions about Sourcing

With the constant changes and innovations occurring in today’s world, sourcing is often a bit of a moving target. And often other departments and stakeholders are confused about (or unaware of) the definition and value of strategic sourcing. What’s the strategic sourcing process look like? Who is responsible and accountable for sourcing events? What technology is used, and how can other departments benefit from this technology? These are just a few of the questions that drive the misconceptions about strategic … 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

2 Key Aspects of Better Communication

I think anyone that has been involved in any long-term personal relationship would agree that clear communication is a key feature to any healthy relationship. Most would likely also agree this applies to professional relationships, be it with one’s superiors, team members, subordinates, and even across business units. Why then, as found in Deloitte’s Global CPO Survey 2013, does this continue to be a large obstacle for Procurement teams? According to Deloitte’s findings, 88% of CPOs report delivering on or … More

4 Must Attend Procurement Events in 2014

Networking, inspiring speakers, user training, and cocktail hour- these are just a few perks of attending industry events and conferences. If you don’t have any conferences booked for 2014 or simply need inspiration on which events to attend, we’ve created a list of 4 procurement events you must attend in 2014. #1: ProcureCon Indirect East: February 18-20, 2014 – Charlotte, NC ProcureCon Indirect East is an excellent opportunity for you to learn about innovations in indirect procurement and hear how … 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 Challenges of a New CPO

Welcome back! Just joining in? In my last post I discussed A.T. Kearney’s framework of tips on how to successfully navigate through your first 100 days as a CPO in a new role. Today, I’ll share three of the most challenging dimensions within the framework and suggestions to tackle those challenges. According to Chris Clements, Director at A.T. Kearney, the following are the three most challenging dimensions in the framework: 1-Understand the organization’s culture. The goal of understanding the organization’s … More

What Do Chess and Strategic Sourcing Have in Common?

When strategizing on the management of your team in a sourcing tool, you should think about building your players in the game of strategic sourcing in terms of pieces in a game of chess. Having pieces that move differently or perform different functions is essential to the successful implementation of the sourcing solution and critical to developing smooth business processes across the team. Having the fundamentals of chess in the back of your mind also allows you the flexibility and … More

100 Days to Become a Successful CPO

A new year brings new challenges, new opportunities, new expectations… If you’ve recently taken on the role as a new CPO (or even as a new executive), you are most likely passionate and determined to quickly make a positive impact and drive significant change at your new company. I recently listened to a podcast by A.T. Kearney, “The First 100 Days as a New CPO”.  Chris Clements, Director at A.T. Kearney, discussed major issues a CPO faced in their new … More

Time to broaden how we think about purchasing capability

“You are only as good as your team” is an oft-quoted phrase and something that procurement chiefs have taken to heart as their personnel numbers have grown. Each and every year procurement chiefs say that one of their key priorities is to improve the skills and capabilities of those in their team. Understandably this focuses on those who sit under their direct jurisdiction, but 2014 should be the year that this mindset changes because purchasing capability extends far beyond the … More