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.

Recommended Procurement Webinars for Feb 20-24: Virtual, Digital, and Transformational Change

Recommended Procurement Webinars for Feb 20-24: Virtual, Digital, and Transformational Change

Look out – Wednesday of this week is coming at us fast! There are 6 webinars taking place in a four-hour period. There are also two in person events you’ll want to look into on Wednesday. The first is being put together by Bertrand Maltaverne and Simona Pop in London (click here) and the second is an economic forum at NYU being hosted by ISM-New York (click here). I’ll be participating in the panel at that event – come say hi if you are in New York! Click on the title of each webinar below to view the full description and register.

BTW: If you haven’t already, sign up for our mailing list to be sure you get my weekly recommendations in your Inbox each Monday.

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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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The Power Triangle in Electronic Component Specifying and Purchasing

The Power Triangle in Electronic Component Specifying and Purchasing

This post was originally run on Design News.

I recently had the opportunity to interview Mark Larson, the vice chairman of electronic component distributor Digi-Key Electronics. The company was founded in 1972, and Larson joined only four years later to what is now one of the largest such companies not only in North America but the world. He led the company as president for an astounding 39 years, just recently stepping down in July.

In the four decades during which Larson ran Digi-Key, there was considerable change -- in the electronics being sold, in whom the products were sold to, and in the supply chains the products traveled through. The other thing that has changed is the way Digi-Key interacts with different points of contact at each customer. Although it has always aimed its marketing efforts at design engineers -- and continues to do so -- it has had to adapt to the growing role of centralized procurement in managing purchases.

Since the interactions between engineering and procurement have not always been naturally easy, the insertion of a third party into the electronic component purchasing process has brought some benefits. When looked at from an outsider’s point of view, the two teams may have more in common than they realize.

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Guest Post on the Ivalua Blog: The Annual Budget Process as a Contact Sport

Guest Post on the Ivalua Blog: The Annual Budget Process as a Contact Sport

If your company closes its books with the calendar year, there is a good chance the budget review process is quickly approaching. With it come the games departments play – and they are not child’s play by any means. The annual Budget Games are at minimum a contact sport, and at their most extreme a blood sport.

The rules are timeless and well known:

  • The largest budget carries with it the most influence in the organization. We are expensive, so therefore we are valuable.
  • Requests for increases indicate big plans and are intended to communicate vision, while a group that can do the same or more with less lacks ambition and imagination.
  • Perhaps the most dangerous rule for procurement is: if you don’t spend it, you lose it. This unfortunately equates realized savings with a loss of influence, a frustrating indication of how our efforts are often perceived.

Procurement’s role in the process varies greatly from company to company. As cutthroat as the Games can be, there is no such thing as a bystander and each role has its own advantages and liabilities.

CLICK HERE TO READ THE FULL POST ON IVALUA'S BLOG

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How much should a procurement process vary by company or category?

How much should a procurement process vary by company or category?

Last week I shared six B2B buying processes being compared by Wake Forest University in North Carolina. You can learn more about their research here.

I looked at the processes, and can see where each of them would have a place in the right scenario. You would expect processes to be different by company or industry, but do you ever vary your process by category? Feel free to share you comments below or join the conversation on Twitter: @BuyersMeetPoint.

I think (E) Robinson, Faris, and Wind most closely resembles the standard strategic sourcing process that most organizations follow. A typical process usually 6-8 steps, starting with internal and historical data collection and leading to either supplier performance management or a hand-off to the internal stakeholders who will manage the relationship for the duration of the contract.

That being said, the other models match different (and maybe less typical but no less common in the grand scheme of things) procurement situations...

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