On Wednesday, the Sustainable Business Forum hosted "Supplier Management - Social Responsibility" presented by SGS, the world’s leading inspection, verification, testing and certification company. The Sustainable Business Forum is a platform for the voices of leading experts and promotes constructive discussions on business sustainability, focusing on the crucial topics that make up the core of sustainable business strategy.
This week’s eSourcing Wiki-Wednesday topic is Metrics for the Rest of Us – an article that breaks metrics down into Cost Avoidance and Reduction, Process Improvement, Operations, Customer Service, and Asset Utilization.
The last of the Cost reduction and avoidance metrics, “Spend Under Management” is defined as:
Total Spend Under Management / Total Spend.
As noted in the eSourcing Wiki, this is a straightforward calculation. The problem is not with our ability to divide one number by another, but in defining the inputs to the equation. Total spend should be easy, although your department may use either total annual spend or total addressable spend (which is likely to exclude taxes and salaries). The real question is to decide what spend is designated as being ‘under management’.
Flip Side Webinar Notes: Innovating With Suppliers To Cut Costs, Support Growth, And Navigate An Uncertain Economy
Last week, MyPurchasingCenter hosted a webinar called, ‘Innovating With Suppliers To Cut Costs, Support Growth, And Navigate An Uncertain Economy’. The main speaker was from Vantage Partners, a Boston-based management consulting firm specializing in negotiation skills development. We don’t usually cover events presented to a buy-side audience on The Flip Side, but this particular event shared a significant amount of supplier perspective on innovation between buyer and supplier.
You can view/listen to the event on demand on MyPurchasingCenter's site.
This week’s featured webinar is ‘Tail Spend Management: How to Squeeze Savings from the Most Fragmented 20% of Spend’ by Proactis. If you are interested in more after reading our notes, you can access a white paper on Proactis’ site.
As part of Buyers Meeting Point's ‘Flip Side’ resource, we often read sales blogs and attend sales webinars to take the trends we see and apply them for the benefit of supply management and procurement professionals. A recent post by S. Anthony Iannarino, author of ‘The Sales Blog’ covered the foundational and secondary skill sets possessed by most successful sales people, then went on to describe the additional competencies that will be required for ‘The New Consultative Salesperson’.
This week’s featured webinar was the combined effort of Hubwoo, SpendMatters, and CONSOL Energy. The event was a fair balance of product info, background on supplier networks and then the case study by CONSOL. You can listen to the event on demand or download the slides by visiting Hubwoo’s site.
This week’s eSourcing Wiki-Wednesday topic is Sourcing Success Enablers. Under the Organizational Best Practices heading is a brief paragraph that gets to the heart of what all procurement and supply management departments need to stay focused on:
“As part of a supply chain focus, successful companies do not overlook indirect categories. Chances are some categories (such as office equipment, professional services, etc.) consume a significant part of the total organizational spend and will also benefit from a review. Strategically source everything. (Often strategic sourcing means outsourcing procurement of non-critical, low value spend, or commodity categories to external organizations that also follow strategic sourcing principles.)”
In the Flip Side, Buyers Meeting Point takes knowledge from sales training, webinars, blogs, and whitepapers and flips them so supply management professionals can apply the information to their own challenges. Negotiation is one of those areas where this concept works particularly well. After all, negotiating is negotiating, regardless of which side of the table you are on. This week we will hear from ‘The Accidental Negotiator,’ Dr. Jim Anderson about negotiation.
Beyond the high quality of the presentation itself, I appreciated the global perspective on procurement's activities and opportunities for responsibility and value creation. This was the kind of event that I think would open a lot of C-level eyes to the value of the function that they already have in house. You can request a copy of the slides or listen to the presentation on TradingPartners' site.
The Sales Guy Speaks: Notes from the Monthly Strategic Sourcing & Procurement LinkedIn Group Member Call
On January 31st “The Sales Guy”, BMP’s undercover sales advisor, was the featured speaker on the Strategic Sourcing & Procurement Group Call. We recommend that you become a member of the SS&P Group if you aren’t already.
If you are interested in learning more about The Sales Guy and the insights he has offered through Buyers Meeting Point, you can read our Posts from the Flip Side or submit a question to him to be answered in our blog. You can also listen to the call recording on demand.
Do you have a question you'd like to ask The Sales Guy? Submit it here and we'll track him down and get an answer. All answers will be shared anonymously on 'The Point' blog so we can all join in the conversation.
This week’s featured webinar was run by ISM and provided a “how-to” on market intelligence with examples of market data usage, potential sources of information and some real-world examples of why this topic is so important (or should be). Although Reed Elsevier (owners of LexisNexis) sponsored the event, it was remarkably non-salesy. The event is available on demand (as are the slides) and can be accessed on ISM’s site with their other Previous Web Seminars.
This week’s eSourcing Wiki-Wednesday topic is barriers to success – and those barriers are specific to strategic sourcing organizations. Broken down into the main categories of leadership, team and project issues, these nine barriers are a who’s-who list of worst case scenarios that should help you diagnose the root cause of the challenges you are facing in your organization.
This week’s Zycus sponsored webinar featured main speaker Robert Handfield, the Bank of America University Distinguished Professor of Supply Chain Management at NC State. My notes from the event are below. As of these notes being posted, the webinar is not yet available on demand but if it becomes available we will link to it so you can listen for yourself.
Thanks to the 1967 film Cool Hand Luke, one of today’s largest procurement/sales challenges is easy to put into words. We talk about the need for partnerships and collaboration, but how often do we successfully take the effort beyond talk so that it includes open and productive conversation with our reps and supplier account managers?
As I mentioned in this week’s PI Window Blog Talk Radio update, I don’t usually feature previous events, but last week’s Gartner event deserves to be an exception. “Looking for Talented Leaders to Take Sourcing & Procurement to the Next Level!” was an informative half hour event that is pertinent to all career supply management professionals. The event and slides are both available on demand on Gartner’s site.
If you’ve read today’s eSourcing Wiki excerpt on Measuring Sourcing Value, then you know the core message is one of expanding scope in capturing the value that strategic sourcing brings to the enterprise.
In our past conversations with The Sales Guy, he reminded us of the important role the calendar plays in a supplier’s sales strategy and execution. So as we start a new calendar year, we caught up with TSG to see what we should expect our sales counterparts to be focused on right now…
This week’s event pick was hosted by Sourcing Interests Group and sponsored by Ariba but the team from McDonald’s absolutely stole the show. They shared information so detailed that SIG was unable to share the slides from the webinar even with their own members. In an effort to respect their wish to contain the detailed information they shared within the live session, I will focus on their general recommendations regarding a successful category management program and how it is different than traditional strategic sourcing.
Last week I attended a webinar called “Negotiating To Win: Strategies And Tactics For Sales Professionals”, presented by ValueSelling Associates. Even though the intended audience was sales professionals, negotiating is negotiating, regardless of which side of the table you are sitting on. As a reminder, if you like the “Flip Side” perspective, check out our sales blog and resource directory for our favorite sources of sales information.