Buyers Meeting Point procurement by Kelly Barner

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Recommended Procurement Webinars for Feb 6–10: Internal Intel, the Cognitive Age, Sourcing for Business Outcomes

Recommended Procurement Webinars for Feb 6–10: Internal Intel, the Cognitive Age, Sourcing for Business Outcomes

This week's webinars will give you access to a variety of strategies and approaches to scale your impact. As procurement's role in the enterprise shifts and evolves, we need to be able to combine perspectives on the organization, processes, and the disruptive technologies of the future. This week's events include all three. 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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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.

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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.

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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.

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Best Procurement and Supply Chain Webinars 9/12 - 16

Best Procurement and Supply Chain Webinars 9/12 - 16

After a drought last week, webinars are back with a vengeance! There are 9 this week and 12 already scheduled for next week. Having so many events to choose from doesn’t necessarily make it easy to pick just a few to recommend, but it does ensure that if you make the time you will learn something new. 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.

 

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Spend Analysis 101

Spend Analysis 101

As a procurement professional, I am frequently tasked with conducting a spend analysis on behalf of current and potential clients, but for those outside of the industry, this may be an unfamiliar exercise. In this post, I will attempt to provide a crash course on spend analysis, answering some of the most commonly asked questions about the topic: What is a spend analysis? Why should I do one? And finally, how do I do it?

A spend analysis is a very broad term that refers to… you guessed it! Analyzing the spend of an organization with the objective of understanding where money is being spent and where there may be opportunity for cost savings or process efficiencies. Spend analyses are conducted by procurement professionals in an attempt to get a comprehensive view of all of an organization’s expenditures and they are frequently the starting point for beginning the strategic sourcing process. There are a number of benefits to conducting a spend analysis, but the most important is transparency. A spend analysis provides a holistic view of all spend (indirect and/or direct) in a given time period, typically during a fiscal or calendar year. By doing this, you are able to gain visibility into where spend is being allocated, who the top suppliers are, how many suppliers you use for certain services, and areas of opportunity. For decentralized organizations, a spend analysis may reveal potential service redundancies across departments/brands and provide insights into areas of consolidation across supply bases. Along the same lines, a spend analysis provides organizations with the information needed to increase spend control by showing where and how spend/budgets are being allocated. Although there are many reasons why an organization would conduct a spend analysis, the benefits are consistent.

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Best Procurement and Supply Chain Webinars 5/2 - 6

Best Procurement and Supply Chain Webinars 5/2 - 6

This week’s recommendations are all focused on the very latest in procurement technology, and – more importantly – what it allows the organization to accomplish. 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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Best Procurement and Supply Chain Webinars 10/12 – 10/16: Data, Intelligence, and Insights

Best Procurement and Supply Chain Webinars 10/12 – 10/16: Data, Intelligence, and Insights

This week’s event picks come from a fresh variety of hosts – all looking at data, intelligence, and insights that procurement can use to improve decision making and results. 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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Best Procurement and Supply Chain Webinars 9/14–18: BYOI – Bring Your Own Imagination

Best Procurement and Supply Chain Webinars 9/14–18: BYOI – Bring Your Own Imagination

This week’s events represent a wide range of topics as well as some of the companies we don’t hear from quite as often. Interestingly enough, I’m starting to see the old players of Ariba (now SAP) and Emptoris (as IBM) making a comeback in events and marketing. One thing all these topics have in common is the idea that imagination is a key component to a sustainable vision for the future. Click on the title of each event below to view the full description in the events calendar and to connect to their registration pages.

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Guest Post on the Ivalua Blog: Looking at Procurement's Assets with Fresh Eyes

Guest Post on the Ivalua Blog: Looking at Procurement's Assets with Fresh Eyes

Sometimes the best ideas are right in front of us. This can be evident when you look at a situation with fresh eyes, much like what the United States Postal Service recently did.

The USPS is a large organization facing unprecedented changes that are challenging long-held assumptions about how to operate efficiently and effectively. Ideas to improve their declining financial situation were mostly variations on past strategies: closing branches, stopping Saturdaydelivery or raising prices. Not surprisingly, those approaches did little to improve the situation.

But the tide may be about to change. On May 21, the Inspector General of the USPS issued a report with some bold new ideas such as exploring ways to better leverage an under-appreciated asset: their national network of localized offices. Rather than pursue tired old approaches, they are exploring ways to increase the financial services they offer and create new revenue streams without making significant additional investments into infrastructure or personnel.

CLICK HERE TO READ THE REST OF THE POST

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Tomato, Tomato… Analysis, Analytics?

Tomato, Tomato… Analysis, Analytics?

Spend analysis solutions have long been critical enablers of procurement organizations. Over the last couple of years, however, the term analysis has gradually been replaced by analytics. In order to gather information on this transition, I reached out to Rosslyn Analytics, a company that has operated under the ‘analytics’ label since their founding in 2005, long before it was the prevailing term. I'd like to thank them for their help in putting this post together.

 

Let me begin by giving working definitions for both terms. According to BigDataCraft.com,

 

Analysis is the examination process itself where analytics is the supporting technology and associated tools.”

 

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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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Firefighting and analytics

Firefighting and analytics

As Procurement professionals, we are accustomed to using analytics for our decision making, negotiations and final awards. How does that apply to other professions like Fire Fighting?

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Webinar Notes: Using spend analytics for supplier categorisation and management

Webinar Notes: Using spend analytics for supplier categorisation and management

Our featured webinar notes this week are from an August 28th event run by Supply Management and presented by Lutz Peichert Vice President and Principal Analyst at Forrester Research and Chris Ayscough Purchasing Director at SITA. The event can be viewed on demand here.

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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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Blog Pick of the Week: Sourcing Solutions NOT for Rube Goldberg

Blog Pick of the Week: Sourcing Solutions NOT for Rube Goldberg

Rube Goldberg is best known for a series of popular cartoons depicting complex gadgets that perform simple tasks in indirect, convoluted ways. My father was a do-it-yourselfer to the max. Many times he would fix something. It may not be pretty but it worked. He would often say “Rube Goldberg would be proud of this!”.

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Webinar Notes: Good Data: Spend Analysis Tactics to Attack Supplier Performance Management

Webinar Notes: Good Data: Spend Analysis Tactics to Attack Supplier Performance Management

This week’s featured event was hosted by SciQuest and featured Spend Matters Lead Analyst Thomas Kase and a case study by German Torres of FMC Technologies, a $6B oil and gas company. You can view the event on demand here or register to download the accompanying white paper.

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Webinar Notes: Using The Category Sourcing Scorecard To Build A Smarter, Faster Sourcing Pipeline

Webinar Notes: Using The Category Sourcing Scorecard To Build A Smarter, Faster Sourcing Pipeline

In this week’s featured webinar, we heard from Ardent Partners Chief Research Officer Andrew Bartolini in an event presented by BravoSolution. Andrew shared a Category Sourcing Scorecard he and his team designed to support sourcing team efforts to build out pipelines that can help allocate team resources and prepare for opportunities.

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Everyone needs a Script

Everyone needs a Script

Every sports team needs a playbook. Every movie or play needs a script. So why should procurement be any different?

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How to Choose

How to Choose

So here we are in 2013. Happy New Year. I know my resolution is to live a healthier lifestyle with diet and exercise. I am sure that sounds familiar to many others!!

In that same light, what are we going to do differently to move our respective organizations forward to a healthier place? The competitive environment is such that controlling costs has never been more important.

Today’s eSourcing Wiki-Wednesday topic is Selecting Categories for Outsourcing.In order to contain costs, the article talks about using another organization to source indirect spend. This will save you time, money and resources. The question is how to choose which categories to outsource. 

Certainly that begins with a spend analysis project to understand where you DO spend the money in that space. I also found this article from Accenture that will help gain more understanding of the importance of controlling your indirect spend.

Setting up a process for controlling indirect spend is vital. Utilizing an outside resource enables your internal team to focus on YOUR core competencies.

This does take time and effort but it is incredibly valuable. What have you done to control indirect spend? Did you outsource or build this expertise internally? What did you find for savings in costs and efficiencies?

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