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The Point

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

Setting the Foundation: Preparing Spend Data for a Procurement Metrics Program

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Metrics are a critical aspect of measuring the success of any business function. The importance of quantifying progress against goals and objectives cannot be overstated. Without a metrics program, underperforming organizations are unable to target functional areas that require improvement, and growing organizations are unable to set goals or scale resources to align with the changing state.

Because procurement organizations are often challenged by stakeholder resistance and a lack of executive-level sponsorship, metrics are key to demonstrating value. Sourcing efficiencies, cost savings, stakeholder satisfaction, and overall procurement ROI are just the starting point for capturing bottom line impact. While these are often viewed as the foundation for a metrics program, the final structure can’t be established without being certain of data quality and availability.

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The Secret of the Procurement Director

The Secret of the Procurement Director

It had been a particularly hard week for the whole team. Factory audits had been going on with the accuracy of a Swiss watch (plane, factory, hotel, plane, factory, hotel...). That Friday night we were isolated by a storm that had canceled our flight home and left us stuck in an airport hotel, not knowing what day it was or when we would get back. Our ‘batteries’ were very low.

Only Avi, our expert sales agent, strengthened by a thousand negotiations, seemed to be fresh as a lettuce.

Around the crackling of the chimney, while the storm whipped outside, we all tried to shelter ourselves in hot cups of coffee, seeking the strength to recover our spirits.

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Blockchain: Disrupting Procurement and the Supply Chain

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If you have heard a lot about blockchain but don't really know what it is, you're not alone. The success of Bitcoin and other cryptocurrencies has given blockchain a major leap forward. But cryptocurrencies aren't the only place where blockchain technology makes itself useful. It can completely disrupt procurement and supply chain operations. First, however, it's important to have a bird's eye view of blockchain.

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Recommended Procurement Webinars for Jan 23-27: Cash Flow, Data Speed, 2017 Trends and Predictions

Recommended Procurement Webinars for Jan 23-27: Cash Flow, Data Speed, 2017 Trends and Predictions

There are a dozen events taking place this week – many of which seem to have been planned to incorporate a big picture vision for the new year. The really amazing thing is that even with so many webinars taking place, there is very little topical overlap. Scan the titles of this week’s webinars and you’ll have an appreciation of the full range of subjects touched on by procurement on a regular basis. 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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