As this week’s guest sound bite in our PI Window on Business Blog Talk Radio update, we heard from S. Anthony Iannarino, author of The Sales Blog, talking about what sales people need to do in order to create recognizable value for their clients.
This event was conceived in response to Outsourcing Institute members who had concerns about political policy regarding outsourcing based on President Barack Obama’s 2012 State of the Union Address. One quote that was called out in the event overview was that it is time to "stop rewarding businesses for taking jobs out of the country and start rewarding them for bringing jobs back home." (Note: if you are interested in hearing the relevant portion of the State of the Union, listen to the Buyers Meeting Point Weekly Update for March 19th on Blog Talk Radio.)
This week’s featured webinar notes are from an event hosted on Thursday by Supply and Demand Chain Executive, “Supply Chain Risk Mitigation: Minimizing Exposure To Supplier Failure, Volatile Commodity Prices, And Manufacturing Disruption’.
For anyone that has ever run an eSourcing project, there is a typical flow that most processes follow. The project kicks off, and everyone’s focus is split between costs and known issues with the incumbent suppliers(s). Procurement uses historical spend to put together a list of line items with quantity and specification data. The company’s standard list of supplier questions is loaded into the eRFX system, along with any additional questions for suppliers that relate to the category of spend in question or new developments in the industry being sourced from. Everyone works frantically until the day the RFP opens and then – you wait. The project comes to a complete standstill for the two weeks (e.g.) that the RFP is open. Then the mad dash begins again as you wade through and evaluate supplier responses, pricing, and attachments.
“What we see depends mainly on what we look for.”
― John Lubbock, 1st Baron Avebury (1834 - 1913)
This week's trip to the Flip Side is a humorous - and visual - look at the many perceptions of sales people. We came across an image last week that represents how sales people are perceived by their friends, customers, and society as a whole as well as the way they see themselves versus what their job is really like. We also had our undercover sales advisor, “The Sales Guy” interpret the reality of the situation. Visuals are a great way to communicate subtle differences, and this will allow you to laugh as well as to gain some additional insight into the complex, multi-faceted world of being a sales account rep.
Without further ado, here is the picture:
This week’s featured webinar was presented by Supply and Demand Chain Executive. The approach that was emphasized in this webinar got back to old-fashioned data quality. Having a solid dataset to work from is the first line of defense against risk – or at least against missing and mis-information.
Joining Supply & Demand Chain Exec was Jon Bovit, VP of Enterprise Solutions and Chief Marketing Officer for CVM Solutions, a provider of supplier management solutions that enable clients to achieve operational excellence, drive cost savings and mitigate supplier risk.
This week’s Flip Slide notes are from ValueSelling Associates, a sales training and professional skills development organization. The audio from the webinar as well as the slides are available on their website.
As with the other content we cover on The Flip Side, the message of this sales training session is absolutely applicable to a procurement audience. In fact, if once I’ve shared the list of the ‘5 Keys’ with you, it doesn’t even really look like advice for sales.
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.