BMPweblogo2015

Keep current with BMP linkedin twitter scribd btn red 24x24blogtalkradio 24x24youtube24x24soundcloud 24x24

"The Point" is written by BMP Editor Kelly Barner as well as a diverse group of guest contributors.

Risk Management in Supply Chain and Procurement: Preparing for the Storm

Risk Management in Supply Chain and Procurement: Preparing for the Storm

Although we’re a few weeks past the Hanjin Shipping bankruptcy now, the shake up left experts, businessmen, companies, and customers alike wondering what other events could potentially jeopardize their operation or interfere with getting the product they ordered on time. There are countless risks in a globalized economy, making it a subject of relentless discussion among academics. That being said, some of the biggest companies in the world still do not have a team dedicated to risk management for their supply chain and procurement operations. A recent report by ATKearney and RapidRatings on managing supply risk in uncertain times found that “leaders have struggled to manage the latent risk in their extended supply chains. Most cite lack of bandwidth and budget as the biggest roadblocks. Dedicating scarce resources to prevent or minimize the impact of an issue that might never occur is often not a priority.”

With globalized supply chain operations, risk is growing and managing it is more critical than ever. Some risk factors have been greatly discussed in the industry, and others not so much. Below are a few of the risks threatening global supply chains as well as solutions and action items.

 

Continue reading
904 Hits
0 Comments

Recommended Procurement Webinars Nov 28 – Dec 2: Beyond Savings and Under Par

Recommended Procurement Webinars Nov 28 – Dec 2: Beyond Savings and Under Par

Welcome back from the US Thanksgiving holiday! With 5 weeks left in the calendar year (3 effective working weeks) the time to get in your professional development time is now! Click on the title of each webinar below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

** BONUS: Mark your calendars and join me for a live Twitter #Instaschat discussion December 1st at 1pm ET!

Continue reading
1193 Hits
0 Comments

Happy Thanksgiving 2016!

Happy Thanksgiving 2016!

Every year at this time I stop and give thanks for all of the people and organizations that have made a difference to Buyers Meeting Point over the year. You may think of BMP as a blog, a podcast, a social media network or all three – but for me it is the most amazing opportunity to connect with a global community of peers, all of whom are interested in learning more and advancing the potential of procurement and supply chain.

 

Continue reading
1153 Hits
0 Comments

Our Recommended Procurement Webinars for November 14 – 18: Future Prepping

Our Recommended Procurement Webinars for November 14 – 18: Future Prepping

There are 14 webinars taking place this week – plus ProcureCon Marketing in California Monday through Wednesday. Of course, that is probably due to the fact that with Thanksgiving in the U.S. on November 24th there is only one lone event in the calendar that week. Click on the title of each webinar below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

 

Continue reading
1410 Hits
0 Comments

Our Recommended Procurement Webinars for November 7 - 11: Panel Palooza

Our Recommended Procurement Webinars for November 7 - 11: Panel Palooza

This week’s webinars are an unofficial panel-palooza celebration. From the CFO CPO relationship to the evolving role of robotic process automation at the management level to risk intelligence, this will be a great week for forming or redefining your position on critical topics. Click on the title of each webinar below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

Continue reading
1607 Hits
0 Comments

Book Review: Introduction to Global Logistics, 2nd Ed.

Book Review: Introduction to Global Logistics, 2nd Ed.

 If you feel surprised that you missed the first edition of Introduction to Global Logistics: Delivering the Goods 2nd Ed., by John Manners-Bell, you’re not alone. I was puzzled by the same thing. If the first edition came out in 2014, how could I possibly have missed it? I didn’t - and maybe you didn’t either. The title of the first edition book was Global Logistics Strategies: Delivering the Goods.

Title and edition questions notwithstanding, this book provides considerable updates and new content. There are three completely new chapters, as well as an updated preface. Since I reviewed Global Logistics Strategies (you can read it here) I focused my time with the 2nd Ed. on the three new chapters:

Chapter 12: Supply Chain Technologies

Chapter 16: Supply Chain Innovation and Disruption

Chapter 17: Ethical and Sustainable Supply Chain Strategies

 

Continue reading
1032 Hits
0 Comments

Optimizing the Value of Trilateral Manufacturer Distributor Purchasing Relationships

Optimizing the Value of Trilateral Manufacturer Distributor Purchasing Relationships

When you just look at a purchase from a pricing perspective, it would be reasonable to think that purchasing products directly from the manufacturer be an effective way to reduce unnecessary overhead and markup costs.  While I generally find this to be true in practice, if it were that black and white the large number of distributors thriving in today’s markets would cease to exist.  Manufacturers and distributors each have strengths and weaknesses, but in a strategic purchasing landscape you do not always need to choose between the two. In fact, developing a balanced relationship with manufacturers AND distributors often proves to yield the most value, particularly with high volume purchases.

Continue reading
1167 Hits
0 Comments

Recommended Procurement Webinars for October 31 – November 4

Recommended Procurement Webinars for October 31 – November 4

This is an incredibly busy week for procurement and supply chain webinars! The end of 2016 is filling up fast. In fact, there are only really 7 weeks left in the year once you subtract the weeks of Thanksgiving and Christmas. Click on the title of each webinar below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

Continue reading
1123 Hits
0 Comments

Displacing Incumbent Suppliers

Displacing Incumbent Suppliers

You’ve invested a lot of time and money. You may even have staked your reputation on backing a supplier. So when is it time to replace them?

At a recent executive meeting, the subject of incumbent suppliers arose. The conversation reflected on both the personal and business investment that can occur when a supplier is selected, from a business stakeholder and a procurement perspective.

Continue reading
1580 Hits
0 Comments

Podcast Transcript: Actionable Spend Analysis Through Applied Data Science

Podcast Transcript: Actionable Spend Analysis Through Applied Data Science

The following is the transcript from a recent BMP Radio interview with  Brian Seipel and James Patounas, both from Source One. If you would like to listen to the podcast, please click here.

Continue reading
1766 Hits
0 Comments

Our Recommended Procurement Webinars for October 24-28

Our Recommended Procurement Webinars for October 24-28

In addition to the webinars I’ve recommended below, ProcureCon Pharma is running in Philadelphia from Wednesday through Friday. If you’re going, be sure to stop by and say hello to our friends SAP Ariba, Source One, and tealbook! Click on the title of each webinar below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

Continue reading
1112 Hits
0 Comments

Our Recommended Procurement Webinars for October 17-21

Our Recommended Procurement Webinars for October 17-21

This week our recommended procurement webinars bring us three ideas: supplier prequalification, the bullwhip effect, and finance transformation. Click on the title of each event below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

Continue reading
1520 Hits
0 Comments

Book Review: Confessions of a Professional Buyer

Book Review: Confessions of a Professional Buyer

“Buyers have a privileged position within companies and are exposed to innovative ideas from suppliers often developing their own sense of curiosity. Although not all buyers have realized it yet, they are expected to contribute to the innovation process.” (p. 25)

 

Confessions of a Professional Buyer: The Secrets About Selling & Purchasing Services, by Hubert Lachance, is something like a survival guide for suppliers dealing with procurement – and vice versa. Lachance has over a decade’s worth of experience managing indirect spend for a multi-national CPG company, and he applies that experience to help all buyers and sellers work together more productively.

Continue reading
885 Hits
0 Comments

2016 Nobel Prize for Economics Goes to: Contract Theory

2016 Nobel Prize for Economics Goes to: Contract Theory

I live in the Boston area, so when the 2016 Nobel Prize for Economics was awarded to Dr. Bengt Holmstrom, a professor at the Massachusetts Institute of Technology, and Dr. Oliver Hart, a professor at Harvard, it made a considerable splash in the local news. I love economics in action, so I started reading more - but I never expected to find contracts as the center of their work.

Each of the newly selected Nobel laureates has a different area of focus, but both are relevant to procurement and supply chain professionals.

Continue reading
1695 Hits
0 Comments

In the Shadow of the Revolution

In the Shadow of the Revolution

With the first (annual?) Procurement Revolution under our belts, Phil Ideson and I have spent the last few days looking back on everything that was shared, asked, and exchanged.

By all measures, the Procurement Revolution was an unmitigated success. Over the course of 5 days, 40 Revolutionaries delivered 5 live webinars and over 50 unique pieces of audio, video, and written content. We were able to cover a wide range of topics, including competitive advantage, globalization, autonomous cars, and digital commerce. Each piece was created as something fresh and new – shared just because it could be rather than because it was commissioned or promotional. The resulting Twitter discussion, using the hashtag #ProcureRev, created over 1.7 MILLION impressions.

 

Continue reading
1289 Hits
0 Comments

Recommended Procurement Webinars for October 10-14

Recommended Procurement Webinars for October 10-14

This week, my recommended procurement webinars are all about doing MORE. More categories managed, more results, and more visibility into the supply chain. Click on the title of each event below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

 

Continue reading
920 Hits
0 Comments

Book Review: Tomorrow Today

Book Review: Tomorrow Today

“Because technology has become an extension of the knowledge worker’s business and personal life, it has become apparent that to separate the two is not just pointless, it is impossible.” (p. 15)

 

Tomorrow Today: How Ai Impacts How We Work, Live And Think
(And It’s Not What You Expect) by Donal Daly, CEO of Altify, is exactly my kind of book. Not only does it discuss recent developments in automation and AI and illustrate their impact on business and society through recent news stories, it is so full of enthusiasm for the future that it must have been written by someone with a background in sales.

Targeted at ‘knowledge workers’, this book addresses the challenges and opportunities faced across functions – sales, marketing, procurement, finance, etc. Will the rise of the machines eliminate the need for professionals who see themselves as strategic and value oriented today? Will humans and AI (Augmented rather than Artificial using Daly’s definition) settle into a kind of symbiosis that harnesses the advantages of each into a powerful combined capability? These questions – which might be dark and intimidating in a different context – are addressed head on and without hesitation.

Continue reading
1108 Hits
0 Comments

Best Procurement and Supply Chain Webinars October 3-7

Best Procurement and Supply Chain Webinars October 3-7

And… just like that… it’s October! In the shadow of The Procurement Revolution the calendar looks a little light this week. That being said, there are two interesting webinars taking place. Click on the title of each event below to view the full description and register or visit the BMP events calendar to see what’s on tap for the rest of the month.

Continue reading
1085 Hits
0 Comments

Can Real Human Beings Be Good at Procurement?

Can Real Human Beings Be Good at Procurement?

This guest post is part of The Procurement Revolution. To share your thoughts or join the conversation, use #ProcureRev on Twitter or use the comment functionality below.

 

I'm Ovidiu Slimac and I am from Timișoara in the western part of Romania, a beautiful town which was just declared the European Cultural Capital for 2021. 

 
I have worked in procurement for 15 years now. And yes, I'm human. I'm a human being. And if we believe what the researchers and scientists say, all of my purchasing activities and buying decisions are made with an emotional input – even the ones I made for my company. The question is: does being human disqualify me as a good procurement professional?

Continue reading
2011 Hits
0 Comments

Registration Now Open: The Procurement Revolution Live Sessions

Registration Now Open: The Procurement Revolution Live Sessions

There are just days to go before the start of The Procurement Revolution, the 100% virtual, global, onlie, free event September 26-30. While a lot of the content will be available on demand and at your convenience, there are live daily sessions (webinar-style) that will provide you with the opportunity to engage in discussion with our Revolutionaries.


 

Take a moment now to register for all of our live sessions:

 

How Can Procurement Become a Competitive Advantage?

Monday, September 26th, 11am – 12pm ET

Join Joanna Martinez, Kelly Barner and Philip Ideson in this interactive Q&A led webinar as we discuss what procurement can do to make our profession a competitive advantage.

 

Is Stakeholder Alignment the Key to Procurement's Survival?

Tuesday, September 27th, 12pm – 1pm ET

Join Greg Tennyson, Joe Payne, Kelly Barner and Philip Ideson in this interactive Q&A led webinar as we discuss if stakeholder alignment is the key to procurement's survival - and if so, how can we become better business partners.

 

Supplier Intelligence in the Age of Social Media

Wednesday, September 28th, 12:30pm – 1:30pm ET

Join Dr Jim Narus, Dr Michelle Steward, Kelly Barner and Philip Ideson in this interactive Q&A led webinar as we discuss the role that social media plays in how procurement professionals access intelligence and interact with each other.

 

Why Changing Your Mindset is Crucial to be Successful in the New Age of Procurement

Thursday, September 29th, 11am – 12pm ET

Join John P. (Jack) Miles, Kelly Barner and Philip Ideson in this interactive Q&A led webinar as we discuss why a change in mindset is crucial to be successful in the new age of procurement.

 

Hype, Reality and the Future of Procurement

Friday, September 30th, 10:30 - 11:30am ET

Join Derk Erbe, Vice President of HfS Research, with responsibility for covering the Procurement industry, Kelly Barner and Philip Ideson in this interactive Q&A led webinar as we separate the hype from the reality as we consider the future of procurement.

Continue reading
1010 Hits
0 Comments