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.

Book Review: Supply Chain Construction

Book Review: Supply Chain Construction

This supply chain is the bridge between the customer needs of a market segment and the value-added of a product. If we can’t connect the two, then we have a show stopper.” (p. 4)

Supply Chain Construction: The Basics for Networking the Flow of Material, Information, and Cash by William Walker (CRC Press, 2016) is an impressive work that combines exhaustive supply chain planning considerations, processes, and figures with a narrative that keeps all of the information provided firmly rooted in reality.

I met the author in person at the February 2017 ISM Economic Forum in NYC where he participated in a panel discussion I moderated. Although Bill is an adjunct professor of supply chain engineering at NYU, the book is far from academic. It illustrates critical business principles through plausible real life examples that make their lessons easy to understand and recall long after reading them.

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Book Review: Building Digital Culture

Book Review: Building Digital Culture

This should be a very sobering thought for anyone in business. The company that you toil and work so hard to make succeed is statistically unlikely to exist in a decade.” (p. 5)

Building Digital Culture: A Practical Guide to Successful Digital Transformation by Daniel Rowles (@DanielRowles) and Thomas Brown (@ThinkStuff) (Kogan Page, 2017) is the reason I review books. While I was reading this book, I was interrupting everyone I know to share ideas and quotes. If you are looking for an engaging, readable text that moves at the same speed as the digital world it describes, buy this book.

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Book Review: Radical Business Model Transformation

Book Review: Radical Business Model Transformation

“Companies that dominated the national market for decades are suddenly confronted with new competitors that are redefining entire industries and hence restricting the incumbents’ strategic freedom to shape their future.” (p. 6)

Radical Business Model Transformation: Gaining the competitive edge in a disruptive world by Carsten Linz, Günter Müller-Stewens, and Alexander Zimmermann (Kogan Page, 2017) presents readers with the same challenge question the authors asked each other during the writing process: ‘Are we being radical enough?’

Recent Comments
Guest — Carsten Linz
Dear Kelly, thanks for this insightful review of OUR book! Still too many companies focus on efficiency gains and automation and h... Read More
Friday, 06 January 2017 05:49
Guest — Kelly Barner
Well put Dr. Linz - and thank you for sharing your comments here. One of the other points that comes to mind - a dynamic that clea... Read More
Friday, 06 January 2017 13:04
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Book Review: A Circular Economy Handbook for Business and Supply Chains

Book Review: A Circular Economy Handbook for Business and Supply Chains

In reading A Circular Economy Handbook for Business and Supply Chains: Repair, remake, redesign, rethink by Catherine Weetman, I was reminded the importance of people taking completely different approaches to a topic. In the case of the Circular Economy Handbook, I was caught completely off guard by her deep and pervasive focus on the environment, renewable resources, and social value.

CircularEconomyThere will always be a recycling component to any discussion of circular economies because they embrace a move away from ‘linear’ production and resource utilization models where goods have a limited useful life and become waste once they reach the end of it. For example, Weetman’s study of the amount of water required to feed a rapidly growing population (1 litre per calorie), raises the stakes for anyone who is only looking a circular model for cost reasons.

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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

 

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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.

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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.

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Book Review: Building Effective Value Chains

Book Review: Building Effective Value Chains

A value chain is the overall set of internal and external resources – human, physical, financial and informational – that require to be marshalled and managed in order to achieve the objectives of any organization. (p. 2)

Building Effective Value Chains: Value and Its Management by Tom McGuffog provides an almost completely unexpected perspective on the meaning of value and value chains as well as how they should be nurtured in a variety of contexts. I chose the word ‘nurtured’ deliberately; McGuffog makes the point that this book is for “students” in a wide range of disciplines extending far beyond a corporate setting. The attention he pays to humanity and the “value of human life” in his discussions of value and values is so compassionate that I found myself wondering if McGuffog had switched places with Gyöngyi Kovács, Karen Spens, and Ira Haavisto who edited Supply Chain Management for Humanitarians how the two books might have turned out differently.

 

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Book review: Supply Chain Management for Humanitarians

Book review: Supply Chain Management for Humanitarians

“The essence of supply chains is to match supply and demand. But what happens with supply chains and, particularly, what can supply chain performance be, in the context where the demand is neither dictated by nor is the performance of the supply chain directly evaluated by the end users?” (p. 7)

Supply Chain Management for Humanitarians, a multi-contributor book edited by Gyöngyi Kovács, Karen Spens, and Ira Haavisto takes a very serious look at a topic that many people may regard in a casual or ‘soft’ manner.

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Book Review: The Logistics and Supply Chain Toolkit 2nd Ed

Book Review: The Logistics and Supply Chain Toolkit 2nd Ed

The Logistics and Supply Chain Toolkit by Gwynne Richards and Susan Grinsted is an instructional book based in reality, free from assumptions and pretense but full of real world applications. The toolkit concept, one that is continued throughout the book, spotlights process and analytical assets that are described by the authors as including “guides, frameworks, models, quick calculations, and practical ideas.” The topics covered in the book range from an essential review of Incoterms to a more advanced discussion of Decision Matrix Analysis.

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Book Review: Financing the End-to-End Supply Chain

Book Review: Financing the End-to-End Supply Chain

“…more than 70% of the top 1,000 companies around the world will have adopted supply chain finance programmes within the next couple of years.” (p. xiii)

Financing the End-to-End Supply Chain, by Simon Templar, Erik Hofmann, Charles Findlay, is an educational investment that many procurement and supply chain professionals will benefit from. Despite being one of the top ‘up and coming’ professional topics, there is still a lack of solid understanding in the professions that will be required to see supply chain finance programs through.

I came to this review with just enough knowledge to be dangerous – and enthusiastic. In my opinion, supply chain finance is the ‘Robotic Process Automation’ (RPA) of 2016. BY 2017, SCF will be a regular part of corporate conversations across industries and geographies.

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Book Review: Legal Blacksmith: How to Avoid and Defend Supply Chain Disputes

Book Review: Legal Blacksmith: How to Avoid and Defend Supply Chain Disputes

“Supply chain legal disputes don’t start out as legal disputes. They typically start out as badly written contracts, poor communication with supply chain partners, and an inability to resolve conflicts.” (Authors’ Foreward)

Legal Blacksmith, by Rosemary Coates and Sarah Rathke, is an interesting mix of two perspectives the procurement community is all too familiar with: supply chain and legal. They combine their experience – Coates on the supply chain side and Rathke on the legal side – to provide a view that seems better suited to supply chain professionals looking for an improved legal understanding than vice versa. Interestingly, they met during a court case where a manufacturer was sued by a customer.

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Book Review: The POD Model

Book Review: The POD Model

Buyers and suppliers, they make the commercial world go round.

-        The POD Model, p. 1

 

The POD Model: The mutually-beneficial model for buyers and suppliers which enables an increase in profit through commercial collaboration by Michael Robertson strives to do something that we need a whole lot more of in procurement. It provides a framework for combining our philosophical objectives as collaborators and innovators with the inescapable need to measure our results.

Robertson looks at the messy reality of buyer supplier relations and breaks them down to a few major issues: cost, risk, flexibility, and incentives for mutual gain. He then looks to find a way to factor those into contracts in such a way that no one party benefits at the cost or loss of the other.

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Book Review: The Industries of the Future

Book Review: The Industries of the Future

Editor’s note:

It is my distinct belief that as corporate objectives become more general, functional silos dissipate, and millennial professional habits lead to increased talent rotation, the information and skills required by successful individuals and organizations will be broad in nature. Most of the books I review on an annual basis are procurement or supply chain related. That being said, competitive advantage is not discipline specific. In that spirit, I am actively pursuing opportunities to bring general thought leadership to Buyers Meeting Point. Starting… now!

The Industries of the Future, by former State Department Senior Advisor Alec Ross, is a compelling exploration of the conditions businesses and countries need to optimize in order to be successful in the decades to come. It borrows extensively from his time traveling the world in the federal government’s service, which means that his examples are unexpectedly diverse and shared in such a way that is only possible when the author has experienced something first-hand.

 

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Book Review: e-Logistics: Managing Your Digital Supply Chains for Competitive Advantage

Book Review: e-Logistics: Managing Your Digital Supply Chains for Competitive Advantage

“In other words, an effective management of a firm’s digital supply chain will have a positive impact on productivity and growth; ignorance will very likely result in the loss of competitive advantage and have a detrimental effect on performance.” (e-Logistics, p. 4)

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Book Review: Aviation Logistics

Book Review: Aviation Logistics

“The benefits of the global connectivity achieved by both ocean and air transport reach practically every type of modern industry and business and are an essential ingredient of the global supply chain.” (Aviation Logistics, p. 1)

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Book Review: Avoiding a Supply Chain Apocalypse

Book Review: Avoiding a Supply Chain Apocalypse

Dr. Tom DePaoli recently released Avoiding a Supply Chain Apocalypse. It is a collection of the best advice he has to give on topics ranging from relationships to negotiation to Kaizens and storytelling. Since I’ve read all of Dr. Tom’s books, I consider it something of a personal challenge to uncover the material he has added – either because the focus of the book is different or because professional priorities continue to change over time.

 

Like Dr. Tom’s other books, this is for professionals that don’t have the time (or desire) to lose themselves in a 300-400 page book of polished academic theory. His sections are short and to the point and draw in material from third party sites as well as his other writing. You can read one or two sections as time allows and not have any trouble picking up in a different place the next time you sit down.

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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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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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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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