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The Point

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

Implementation of new suppliers

Implementation of new suppliers

As a child at the dinner table, we were expected to try at least a bite of something. Like anyone, we often did not want to try something new. It was not comfortable and it was easier to skip it or default to what we knew we liked. There is an old commercial for Life cereal where Mikey tries it and the famous tag line – Try it, You'll Like It.

 

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More Strategies for Supply Chain Resilience

More Strategies for Supply Chain Resilience

A few years ago we were hosting a holiday gathering for 7 family members. As the holiday got closer, more and more of the family had their plans change. The four days before the holiday we were expecting 7 and then it became 30 by the day before the event. Needless to say, we had to be flexible and resilient in order to make it work.

 

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What do you do just in case?

What do you do just in case?

 We have a small closet at home in a spare bedroom that acts as our overflow pantry. It is not anywhere near as organized as the picture above. In some ways it is our ‘just in case’ inventory. Usually it is stocked with staples that were on sale so we got two. Some of it however is ‘just in case’ we want to bake a cake or cookies or had an urge for some salsa and chips. This past Halloween we bought candy for 200 and only had 30 visitors. Oops!! I am sure it will get consumed somehow!

 

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Building Stronger Supply Chain Relationships

Building Stronger Supply Chain Relationships

The saying goes that you know who your friends are when the going gets tough. Those are the ones that show up when there is work to be done, visit when someone is sick, or to just be around for support. That is a test of a strong relationship.

 

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Is underdog Deem ready for a Cinderella story?

Is underdog Deem ready for a Cinderella story?

I do love a good story – and fortunately, in the case of Deem, I get to enjoy the ride knowing in advance that it has a happy ending.

I recently had the opportunity to speak with Deem’s VP of Product Management Roger Blumberg. He took me back through the journey Deem has been on and where they plan to go from here. They started as Reardon Commerce in 2000, acquired Ketera in 2010 and rebranded as Deem in 2013.

I feel fortunate that I was not asked to predict the outcome of this story back in 2010, when a legal injunction prevented Deem from doing anything more than maintaining their current customers. I am sure I would have made the wrong call. Four years is a very long time to survive without customer base growth. The fact that Deem is still around to tell their tale demonstrates not only perseverance, but validates their value proposition. They announced their re-launch yesterday (read the press release here).

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Supply chain risks and chocolate

Supply chain risks and chocolate

Halloween was a few days ago. We have quite a bit of candy around the house due to that holiday. In our weekly blog, Protect your supply chain like it is your last piece of chocolate, we spoke about the supply chain risk for the candy industry involving cocoa.

 

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Electronic regulations around the globe

Electronic regulations around the globe

We live in a technology age. That is not big news. In some areas, the electronic record is considered official and binding. For example, for the last 4 or 5 years we have filed our taxes electronically and that has been adequate and official. In other areas, they still want an original signature on a paper, with multiple copies. I know when we have gone to refinance our house, the banks require paper copies.

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Sarbanes-Oxley for Dummies

Sarbanes-Oxley for Dummies

I love the “For Dummies” books. We have used them many times. What a wonderful way to simplify everything from travel to home improvements to technology. Obviously it has become quite successful along the way so they must be doing something right.

 

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Is Procurement Crate Trained?

Is Procurement Crate Trained?

“Crate training uses a dog's natural instincts as a den animal. A wild dog's den is his home, a place to sleep, hide from danger, and raise a family. The crate becomes your dog's den, an ideal spot to snooze or take refuge during a thunderstorm.”

Humane Society

 

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Understanding International Trade

Understanding International Trade

 More and more procurement organizations have some component that involves global trade. Understanding the intricacies of this can be mind boggling.

 

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Rules and Regulations make the world go around

Rules and Regulations make the world go around

About 90% of goods are transported with ocean freight for global commerce. With all that activity, there has to be some way to control the comings and goings.

 

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#FutureBuy Resource Spotlight: KPMG

#FutureBuy Resource Spotlight: KPMG

As Jon Hansen and I work our way through our joint book on the future of procurement, we get the opportunity to consider what other thought leaders in the space have to say on the topic. In this week’s #FutureBuy resource spotlight, we will consider the major take-aways from KPMG’s whitepaper, FUTUREBUY: The Future of Procurement, which you can download here.

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James Bond, The Living Daylights and Customs

James Bond, The Living Daylights and Customs

In The Living Daylights movie, James Bond and his most recent female companion are escaping the “bad guys” by sliding down a snow covered mountain on a cello case. As they cross the border into Austria, the customs agent asks “Do you have anything to declare?” James Bond’s response is “Only this cello!”

 

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The Supplier Side to Implement Supply Chain Finance

The Supplier Side to Implement Supply Chain Finance

For every action there is a reaction. We learned that in a high school science class. We have been talking about the buyer side of supply chain finance. Obviously what they do, impacts their suppliers, and vice versa.

 

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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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The Buyers Side to Implement Supply Chain Finance

The Buyers Side to Implement Supply Chain Finance

One of my father’s favorite sayings was “Less Jaw work and more Paw work”. In other words, enough talking, it is time to get moving!

 

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If at First you don't succeed at Supply Chain Finance?

If at First you don't succeed at Supply Chain Finance?

As the Saying goes – Try, Try, Again. You learn from what you did wrong, make the necessary adjustments and try again. Of course, learning from others mistakes in the first place is even better and a highly recommended approach.

 

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Do you have the right attitude for Supply Chain Finance?

Do you have the right attitude for Supply Chain Finance?

 

I can remember as a teenager having a bad attitude about something. It could be homework, a chore of some kind or even a social engagement that I did not want to attend but I had to. I often got the “your attitude will determine the kind of day you have” message. I did not believe them but of course that was very accurate. It was better if I made up my mind for it to be better.

 

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Are your payment terms benefiting your competitors?

Are your payment terms benefiting your competitors?

We have talked about how Supply Chain finance can benefit everyone in the supply chain. In order for processes to be sustainable long term, they need to have solid benefits for those involved. Otherwise, at some point it will break down. However, we are referring to your suppliers and customers, NOT your competitors!

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Everyone wins with Supply Chain Finance

Everyone wins with Supply Chain Finance

There is a phrase of "win, win, win" where the buyer, the supplier and the customer all benefit. With Supply Chain Finance, that is just the case.

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