Buyers Meeting Point procurement by Kelly Barner

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Actively Managing Procurement's Image

Actively Managing Procurement's Image

In September, Procurement Leaders ran an article by Tyler Chamberlain, Coupa’s global head of spend management, on the benefits of getting a solid procurement function established earlier in a company’s growth curve.

As he stated in the article’s title, “If it ain’t broke, don’t wait until it is.” The premise is that making investments in procurement talent and technology before problems arise prevents many problems from ever arising. Supplier records that are managed well from day one never need a massive clean up. Processes that have been in place as long as anyone can remember don’t have to overcome compliance hurdles. Spend that is managed centrally never has the chance to break between direct and indirect.

Perhaps more importantly, and as I had an opportunity to discuss with Chamberlain (click here to hear the conversation on BMP Radio), procurement has control of their internal image from the outset and can build their brand around positive results rather than problem resolution. When we hear Chamberlain’s message from this perspective, all organizations and procurement teams benefit from his recommendations, not just the start-ups.

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Webinar Recommendations for June 15-19, 2015: Responsible Sourcing, Building Collaborative Influence, and a Buying Manifesto

Webinar Recommendations for June 15-19, 2015: Responsible Sourcing, Building Collaborative Influence, and a Buying Manifesto

This week is busy, but it is really only a warm up for next week, which contains a practical webinar grudge match on Thursday. This week's topics and speakers are varied, and I've picked what I think are the best three below. Click on the title of each event below to view the full description in our events calendar and connect to the registration pages.

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I am Late, I am Late, For a Very Important Date

I am Late, I am Late, For a Very Important Date

Alice in Wonderland is a classic story, written in 1865. The Rabbit is very late and is in a hurry, as seen in this short video.  Similar to the rabbit, some individuals are chronically late. Others seem to have an internal clock and they just know how long things take and walk in the door at the exact moment, or even a few minutes early. It can be frustrating when two opposites are working together, or living together.

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Webinar Notes: Procurement career paths: Lessons from the latest talent research

Webinar Notes: Procurement career paths: Lessons from the latest talent research

This week’s notes are from an October 16th Procurement Leaders webinar featuring the results of their latest research into procurement talent. It is not yet available on demand, but it should eventually be listed here.

This absolutely fantastic webinar was presented by PL Research Director Maggie Slowik. We all know talent is an ongoing issue for procurement contributors, managers, and executive leaders. In my recommendation of the event on Blog Talk Radio, I shared two sadly common views of procurement talent taken from the books I have reviewed:

“Some executives used to think of procurement as the place you send staff away in order to never see them again.”Leading Procurement Strategy, Carlos Mena, Remko van Hoek, and Martin Christopher

“You see, many procurement departments have been staffed in the same manner as the Island of Misfit Toys; when an employee did not perform elsewhere in the organization and the management didn't have the heart to dire him or her, that employee was sent to work in the procurement department”The Procurement Game Plan, Charles Dominick, Dr. Soehila Lunney

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Webinar Notes: Turning Data into a Business Case for Procurement

Webinar Notes: Turning Data into a Business Case for Procurement

This week’s webinar notes are from a recent Procurement Leaders webinar on ‘Turning Data into a Business Case for Procurement.’ The webinar is available on demand here thanks to Rosslyn Analytics, and you can hear an excerpt of the webinar in my July 14th Blog Talk Radio update here.

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Webinar Notes: Enhanced Supplier Repository – A Real Asset for Procurement

Webinar Notes: Enhanced Supplier Repository – A Real Asset for Procurement

This week’s webinar notes are from a January 9th event hosted by Procurement Leaders and sponsored by iValua, with a case study presented by Whirlpool. The event is available for replay on iValua's site. If you are interested in more on the topics covered in the webinar, you can also download a free report (no registration required) that shares the results of iValua’s first Procurement Executives survey.

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Recognizing talent: IQ vs EQ

Recognizing talent: IQ vs EQ

When I first started interviewing, I did not know what questions to ask to recognize a person’s true capabilities. I defaulted to technical questions to understand their skill level. As I developed and gained more experience, I recognized the best questions I could ask the candidate had more to do with problem solving, communication skills and decision making.

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Blog Pick of the Week: Make the Time

Blog Pick of the Week:  Make the Time

We have just finished our 'to do' list for the weekend. It has much more on it than we can possibly do in the time we have. We also have to add some 'fun' to that list. However, there are not any big projects on the list. Those keep getting pushed to another time.

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Avoid analysis paralysis

Avoid analysis paralysis

 

When I got out of college, I was stuck. I did not know what to do with the next stage of my life. I was in analysis paralysis as they say. Do I move back to my home town( population 5000) or move to the big city? Or how about skipping all that education and moving to the Rocky Mountains and being a ski instructor?

 

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Are you a Sourcing Sensei?

Are you a Sourcing Sensei?

 Are all leaders created equal? Does it matter if they are technically savvy about the area they are leading?

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Webinar Notes: Two Perspectives on Procurement Transformation

Webinar Notes: Two Perspectives on Procurement Transformation

Each week I attend two or three webinars. Usually, I pick the most interesting event to share in this Friday webinar notes post. This week, there were two events on procurement transformation: one from Procurement Leaders/CombineNet/Kellogg and another from Sourcing Interests Group/Zycus/Capgemini. Both were good events in their own right, but combining what I heard in the two events provides a rich look at one of the hottest trends in procurement today.

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Webinar Notes: Best Practices in Supplier Relationship Management

Webinar Notes: Best Practices in Supplier Relationship Management

This week’s featured webinar was a Procurement Leaders Thought Leaders event on the topic of supplier relationship management. Innovation with suppliers is a critical component of competitive advantage, but in order to turn potential into performance procurement needs a plan. In this webinar, we heard from Hubwoo, BMO Harris Bankcorp, and P&G about supplier segmentation, key success factors, and achieving innovation.

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Blog Pick of the Week: Collaboration is Magic

Blog Pick of the Week: Collaboration is Magic

We had a very stormy winter. As a result, there are many, many, many twigs and branches in our yard. This past weekend, five of us worked in the yard for less than an hour and what a difference! It was easier, fun and no one was hurt or tired at the end of it. Then we had a cookout and enjoyed the rest of the day.

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Webinar Notes: How to Eat An Elephant: Supply and Risk Management at ABB

Webinar Notes: How to Eat An Elephant: Supply and Risk Management at ABB

This week’s featured webinar was hosted by Emptoris and Procurement Leaders, with a supplier lifecycle management (SLM) case study from The ABB Group. You can view an on demand version of the event by clicking here. ABB is a global leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. In 2010 they had $32B in revenue. As a 120 year old organization, they were decentralized with five divisions.

 

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Procurement Compensation Plans as Barrier or Enabler of Success

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.

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Webinar Notes: Taking Strategic Sourcing to the Next Level at A.P. Moller-Maersk with Procurement Leaders and CombineNet

 

The featured speaker on this event was Jacob Gorm Larsen, head of eSourcing at Maersk procurement. I’m almost always impressed by the key speakers on these webinars, but Jacob is the first speaker that I would absolutely want to work with. You can watch the on-demand version of the webinar by clicking here. If you are interested in doing some additional reading, you can check out our Wiki-Wednesday page on Mathematical Optimization or our blog post on Optimization in the Real World.

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Optimization in the Real World

This week’s Wiki-Wednesday topic is Mathematic Optimization, and that article is the source of all quoted text below. We are covering it because of the CombineNet/Procurement Leaders/A.P. Moller – Maersk event on taking strategic sourcing to the “next level”. For many companies, whether they have implemented a strategic sourcing solution or not, optimization functionality may take a little longer to make use of, both because it is a more complex part of the software but also because the categories that can truly make use of optimization are not low-hanging fruit.

You can read an excerpt from the Wikipedia page on mathematical optimization here, but I am going to take this opportunity to break it down and use examples from procurement/sourcing.  The article starts with a straightforward definition of optimization as “the selection of a best element from some set of available alternatives”.

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Webinar Notes: Procurement Leaders Contract Labor Webinar

Buyers Meeting Point attended the February 23rd Procurement Leaders webinar "A Better Way of Buying Contract Labour" sponsored by Beeline and took the following notes. You will notice that several times we reference information at time intervals. The sides were not numbered (as we could see) but it is very easy to navigate within the recording by time.

You can access the archived recording by clicking here.

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