Buyers Meeting Point procurement by Kelly Barner

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

Kelly is the Managing Editor of Buyers Meeting Point. She has a unique perspective on procurement from her experience on both sides of the negotiation desk. She has led projects involving members of procurement, supplier and purchasing teams. She has practical skills in strategic sourcing program design and management, opportunity assessment, knowledge management, and custom taxonomy design and implementation. She also has direct sourcing experience in a number of product and service categories including: inventory fuel, location-based services, corrugated, and corporate purchasing cards. Kelly has her MBA as well as an MS in Library and Information Science.

Book Review: Strategic Sourcing in the New Economy

Book Review: Strategic Sourcing in the New Economy

Organizations themselves present a major problem; they are stuck in an outdated approach to value creation that has emerged over the past few decades. They continue to view value creation narrowly, optimizing short-term financial performance in a bubble while missing the most important customer needs and ignoring the broader influences that determine their longer-term success.” (p. 24)

 

In November, Kate Vitasek and a team of co-authors released Strategic Sourcing in the New Economy: Harnessing the Potential of Sourcing Business Models for Modern Procurement. Vitasek is best known for her Vested Outsourcing series a books, which are responsible for helping professionals in all functions see the potential of outsourcing relationships aimed at accomplishing a new, more value-oriented type of result. While the Vested books naturally appeal to a procurement audience, you would hardly say that procurement is the main character. We appear in little more than an occasional walk on role – not central to the plot and not particularly memorable.

 

The contrast between procurement’s role in the Vested series and the fact that we now have a book dedicated to our perspective and objectives is striking. While the Vested Way is open to all, clearly we seized an opportunity that has now led to a book all our own.

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What do procurement pros really want in their industry news coverage?

What do procurement pros really want in their industry news coverage?

Last week, Jon Hansen and I did the second in what will be an ongoing series of ‘Point – Counterpoint’ Blog Talk Radio sessions. Here is how these sessions work: we agree on a topic in advance and then I do my darndest to disagree with Jon for 30 minutes, after which he declares us in agreement. Trust me – the conversations are as entertaining as they are informative.

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Who’s Who of Procurement and Supply Chain Literature in 2015: Setting the Bar High

Who’s Who of Procurement and Supply Chain Literature in 2015: Setting the Bar High

Another year done, another 11 book reviews added to the Buyers Meeting Point cache. When I reflect back on this year’s new titles it is the authors rather than the books themselves that really stand out. This is particularly important as procurement is well into a time of significant evolution. In that context, the authors we read are more important than just the content they share. Their experiences and their qualifications set the bar for the rest of us – and the higher that bar is, the better.

Sure, procurement is in the midst of a change that may render the function unrecognizable over the next few years. If we can continue to attract the minds and engage the imagination of people as bright and visionary as the ones spotlighted here, we’re going to be okay on the other side – no matter what.

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Best Procurement and Supply Chain Webinars 12/14-18: Another Year of Webinars Comes to a Close

Best Procurement and Supply Chain Webinars 12/14-18: Another Year of Webinars Comes to a Close

Believe it or not, this is likely to be the last week of webinars for 2015. Another year come and gone. Take a look at my recommendations below to sneak in one last opportunity to learn before the year slips away altogether. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

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Standing Tall Beside Amazon in Electronic Component Distribution

Standing Tall Beside Amazon in Electronic Component Distribution

Note: This post originally ran on Design News.

There’s an 800-pound gorilla in the room. It’s called Amazon. Yet not everyone sees it as inevitable that the e-commerce and distribution giant will dominate electronic component distribution.

In a recent interview with Tom Galligani, global vice president of supply chain for distributor Future Electronics, I asked for his views on Amazon’s invasion of the B2B space. Given the size and power of Amazon, you might expect distributors like Future Electronics to be prepared to be put out of business, but that is not the case. In fact, Amazon’s entry into the B2B marketplace creates a unique set of opportunities for buyers as well as suppliers or distributors.

Nevertheless, like others in the electronic components distribution industry and beyond, Galligani and his team are keeping a close eye on Jeff Bezos’ $90 billion e-commerce behemoth. Amazon may have gotten its start with an unbeatable B2C experience, but it has made inroads -- both organically and through acquisition -- into the B2B market.

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Best Procurement and Supply Chain Webinars 12/7-11: Procurement Outsourcing and IT Collaboration

Best Procurement and Supply Chain Webinars 12/7-11: Procurement Outsourcing and IT Collaboration

The year may be winding down, but the webinar calendar is still going strong. There are quite a few events left in the year – this week included. I’m recommending two of the webinars scheduled for this week. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

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Webinar Notes: 10 Steps to Unlock the Power of Procurement

Webinar Notes: 10 Steps to Unlock the Power of Procurement

This week’s webinar notes are from a November 19th event hosted by BravoSolution and presented by Mickey North Rizza, their VP of Strategic Services and former AMR Research/Gartner analyst. As of December 2nd, the event was not yet available on demand on their website. In the meantime, BravoSolution does have a whitepaper with the same title written by North Rizza if you are interested in more. Click here to download it.

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Best Procurement and Supply Chain Webinars 11/30–12/4: The Topics and Speakers You Didn’t Know You Were Waiting For

Best Procurement and Supply Chain Webinars 11/30–12/4: The Topics and Speakers You Didn’t Know You Were Waiting For

Last week, we unexpectedly had a full slate of webinars – this week the topics and speakers are unexpected. Take this opportunity before the year runs out to attend one of these unique events.  Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

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An Annual Tradition of Giving Thanks at BMP

An Annual Tradition of Giving Thanks at BMP

Every year at this time we stop and give thanks for all of the people and organizations that have made a difference to Buyers Meeting Point and our community.

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Best Procurement and Supply Chain Webinars 11/23 – 11/27: A Veritable Feast of Talent and Value

Best Procurement and Supply Chain Webinars 11/23 – 11/27: A Veritable Feast of Talent and Value

I thought for sure that this week would be devoid of events – between last week’s early schedule and the Thanksgiving holiday in the U.S. on Thursday. To the contrary, there is a full slate of webinars on a series of hot procurement topics. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

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A Personal Look at the Resiliency of Tesco and Their Supply Chain

A Personal Look at the Resiliency of Tesco and Their Supply Chain

I recently had the opportunity to interview Robert Mason and Barry Evans, co-authors of the book ‘The Lean Supply Chain: Managing the Challenge at Tesco.’ It was published in September 2015 and you can read my review here.

Barry Evans worked as a Lean Process Manager at Tesco, developing ways for lean thinking to be applied to Tesco’s supply chain. He has also joined the Lean Enterprise Research Centre at Cardiff Business School as a Senior Research Associate. Robert Mason is a Senior Lecturer in Logistics and Operations Management at Cardiff Business School and has led many business research projects with Tesco as a partner. To read their ongoing blog posts, click here.

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Best Webinars 11/16 – 11/20: Taking Procurement from Good to Great – Finance and Risk Notwithstanding

Best Webinars 11/16 – 11/20: Taking Procurement from Good to Great – Finance and Risk Notwithstanding

With the Thanksgiving holiday ahead in the U.S. next week, this week is like two weeks of events in one. 11 events in three days provides plenty of options – and my three picks are below. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

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Webinar Notes: Three Foundations for Best Practice Procurement

Webinar Notes: Three Foundations for Best Practice Procurement

These webinar notes are from a November 5th event co-presented by Peter Smith from Spend Matters UK/EU and Daniel Ball from Wax Digital. The webinar is available on demand on Wax Digital’s site.

Peter Smith opened this event by offering up a powerful statistic from Wax Digital's own research: when asked, 44% of procurement teams said they have a close working relationship with the business. Unfortunately, only 18% of those business stakeholders agree. This amounts to a 25% ‘relationship leakage’ – or as Smith said in the event, self delusional procurement organizations. And that doesn't even touch on the 56% of procurement teams that DON'T think they have good relationships with stakeholders...

The idea of this event was to look at multiple kinds of integration that procurement has responsibility for. When Smith talked about the three models for procurement (see below), the focus was decidedly on information and communications flows rather than data and technology. In my opinion, that is fantastic because it expands the role and potential impact of procurement through our understanding of our own way of working.

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Best Procurement and Supply Chain Webinars 11/9 – 11/13: Healthcare, the Tech Agenda, 3rd Party Management

Best Procurement and Supply Chain Webinars 11/9 – 11/13: Healthcare, the Tech Agenda, 3rd Party Management

This week’s picks are definitely for big thinkers. Big as in big challenges and big opportunity for the organizations that get it right. In addition to the webinars below, Directworks is running a live demonstration of their 2.0 solution on November 11th from 2-3pm EST. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

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Book Review: Fashion Logistics: Insights into the Fashion Retail Supply Chain

Book Review: Fashion Logistics: Insights into the Fashion Retail Supply Chain

I went into my review of Fashion Logistics: Insights into the Fashion Retail Supply Chain by John Fernie and David Grant (Kogan Page, November 2015) with pragmatic acceptance of the fact that it would contain more logistics than fashion. I could not have been more wrong. Far from being a dry, flat examination of the global garment industry, this book is a well rounded representation of an industry that is facing not only challenges but an increasing pace of change. The case studies and historical context are as indulgent as many of the brands the authors cover.

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Being a leader doesn't mean everything comes easy - it means not expecting them to be easy

Being a leader doesn't mean everything comes easy - it means not expecting them to be easy

I recently interviewed Magnus Carlsson, the author of Strategic Sourcing and Category Management: Lessons Learned at IKEA. You can listen to our conversation on demand on BMP Radio.

Although the book centers around the how and why of IKEA’s approach to procurement and supply chain, its content is not limited to large multi-national corporations or companies in the furniture and home goods industries. IKEA is a company that competes on brand and low costs, which makes its approaches to spend and supplier management absolutely critical to its ability to operate.

IKEA has been able to accomplish many things that other companies have not because it is necessary for them to remain competitive. As a result, their team members – and former team members, for the sake of including Carlsson – approach complex and strategic procurement with a striking clarity of purpose. There is no other way for IKEA to work, and therefore there is no reason to resist or bemoan the uphill strategic path.

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Best Procurement and Supply Chain Webinars 11/2 - 11/6: CLM and Analytics as the Ties That Bind

Best Procurement and Supply Chain Webinars 11/2 - 11/6: CLM and Analytics as the Ties That Bind

And… we’re back to a packed week of webinars. There is a little something for everyone - some risk, some contract management, and some analytics. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

 

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Techniques for Accurately and Efficiently Forecasting Demand

Techniques for Accurately and Efficiently Forecasting Demand

This post was written by Michael Hinkley, an intern at Source One Management Services. If you are interesting in hearing his perspective on procurement as a career and as a part of the larger business, click here to listen to our conversation on BMP Radio.

Whether you’re preparing for a sourcing engagement or looking to improve supplier relationships, effective forecasting and planning is key to staying ahead of your supply chain and formulating a procurement blueprint. When buyers and sellers aren’t on the same page about expected volumes, usage schedules, and run sizes, both may experience surpluses or shortages. This, in turn, can lead to dire consequences for operational efficiency and the bottom line – yours and your suppliers’. For instance, the over unitization of warehouse space, as a result of a constant excess of inventory, will lead to increased effective unit prices. However, with accurate forecasting and improved supplier communication, you not only optimize your internal processes but allow your suppliers to run a more efficient operation with better turnover rates and proper resource allocation.

 

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Should Procurement Fear or Embrace Procurement-as-a-Service?

Should Procurement Fear or Embrace Procurement-as-a-Service?

I recently had the opportunity to interview Phillip Ideson, the founder of ProcureChange, a new Procurement-as-a-Service (PaaS) provider. You can listen to the entire interview on BMP Radio.

My first reaction to PaaS – one that I think is quite natural – is concern about what it will mean for today’s procurement practitioners if it catches on. Will we be outsourced the same way we have outsourced so many other formerly in-house capabilities?

As it turns out, however, the news is better than I expected. PaaS, far from being a threat to procurement, may be one way for us to achieve the strategic status we crave.

Recent Comments
Guest — Alun@marketdojo
We have many partners who have embraced our methodology in SaaS (Software as a Service) for eSourcing and taking that through to P... Read More
Wednesday, 18 November 2015 07:09
Guest — Philip Ideson
Thanks for commenting, Alun. I do think it is important to note that this is very nuanced approach that will not work for all com... Read More
Monday, 23 November 2015 23:28
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Best Procurement and Supply Chain Webinars 10/26 – 10/30: Two Types of Outsourcing and a Look at Supplier Engagement

Best Procurement and Supply Chain Webinars 10/26 – 10/30: Two Types of Outsourcing and a Look at Supplier Engagement

This week may not be as busy as last week, but the topics are as diverse as the presenters. And since so many companies ran events last week, this week’s hosts and speakers offer a fresh diversity of perspectives on procurement topics. Remember that we are in daylight savings time season, so double check the starting time of each event in its host country as well as your own. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

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