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The Point

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

Guest Post on the Social Contracting Blog: Contract Management: Yours, Mine, and Ours

Guest Post on the Social Contracting Blog: Contract Management: Yours, Mine, and Ours

In his recent book Global Supply Chain Ecosystems, Mark Millar wrote, "…today's supply chains encompass complex webs of interdependencies, frequently spanning the globe, designed and deployed to optimize critical attributes – such as speed, agility, and resilience – that drive competitive advantage."

His point plays out on a daily basis through the contract management strategies and practices in many organizations. Because our supply chains are no longer linear or consecutive, we may be buying from and selling to the same company at the same time. This puts our organization in the role of being simultaneously both buyer and supplier.

While there is no problem with this, it does raise complexities for the procurement and sales teams if one or the other is unaware of something going on. I can honestly say I have seen this happen firsthand.

CLICK HERE TO READ THE REST OF THIS POST ON THE SOCIAL CONTRACTING BLOG

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Guest Post on the Social Contracting Blog: Whole Foods Markets Shifts Their Cost Model as They Target Millennial Shoppers

Guest Post on the Social Contracting Blog: Whole Foods Markets Shifts Their Cost Model as They Target Millennial Shoppers

In March, I wrote a post for this blog about the Whole Foods grocery chain in which I asked the question: "How Much Can Procurement Change on Their Own?" I looked at how Whole Foods has defied the low margins commonly seen in grocery retail by employing an operational strategy that merges brand reputation, consumer identity, and high-quality products in justification of higher prices. Their procurement team is part of a top to bottom approach to creating the right value proposition for their customers.

Although they have been successful to this point, Whole Foods has found it difficult to expand their market share beyond their existing customer base. Whole Foods has never professed to be the supermarket for all shoppers, or even for most shoppers. They choose their markets carefully, making sure that the demographics in each area fit their business model. They do, however, need to find a way to build loyalty in other shopper segments that can later be channeled into the primary chain.

CLICK HERE TO READ THE REST OF THIS POST ON SELECTICA'S SOCIAL CONTRACTING BLOG

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Webinar Notes: We Don’t Need No Education, But We Do Need Contract Management

Webinar Notes: We Don’t Need No Education, But We Do Need Contract Management

This week’s webinar notes are from an event run on September 3rd by Spend Matters EU/UK, Selectica, and IASTA. The event is available on demand here.

Once you get this classic Pink Floyd tune stuck in your head, it is likely to stay, and maybe that was the idea with this event title. Far from being a strategic sourcing solution ‘add on’ contract lifecycle management requires its own program considerations, including its impact on global supply chains, corporate strategy, and enterprise wide implementation and leadership. In other words, not allowing your next executed contract to be just another brick in the wall.

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Getting started with an export business

Getting started with an export business

I am sure many of you have heard the shoe salesman story which is classic in having a positive attitude and a determined spirit. Two shoe salesmen are in an undeveloped area. The first one calls home and says “Let me come home, no one here is wearing shoes”. The second one calls home and says “Send more shoes, no one here is wearing them!” Clearly the second one is primed for an export business!

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Webinar Notes: Become a Procurement Change Agent

Webinar Notes: Become a Procurement Change Agent

This week’s webinar notes are based on a May 13th webinar presented by IASTA and Efficio, their European consulting partner. The event was recorded, and the on demand version is available on Slideshare. You can also download the presentation itself, which included quite a bit of data, directly from IASTA’s website.

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Doing the right thing in business

Doing the right thing in business

There was a factory fire about 20 years ago in the Boston area. The owner, Aaron Feuerstein, continued to pay the workers until the factory was rebuilt. That was exceptional and unheard of in business. This remarkable story of Malden Mills was on CBS news at the time. Mr Feuerstein was referred to as a Mench – a person of integrity and honor.

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You can’t steer a parked car

You can’t steer a parked car

Disney animation movies are classic and very entertaining. They have a very long success record. The recent CARS movies have followed suit. Lighting McQueen is the main character and is certainly always moving.

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Recycling is Simple

Recycling is Simple

Do you remember life before yellow sticky notes? Maybe you are too young. In one of my prior organizations, our note paper was old company newsletters that were cut into note paper blocks. You only use one side so it would not matter what was on the other side. There was nothing confidential so it was all good. It truly was scrap paper.

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Webinar Notes: Improving Supplier Risk Management in the Age of Big Data

Webinar Notes: Improving Supplier Risk Management in the Age of Big Data

“Risk management is not a purchasing initiative. It’s an initiative and philosophy that has to be embraced by the entire organization.”

-- Rose Kelly-Falls Senior VP Supply Chain Risk, Rapid Ratings and event panelist

This week’s webinar notes are from a February 13th webinar hosted by IASTA and featuring a panel of speakers. An on demand version of the event is available on their website.

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Webinar Notes: Leveraging Information to Develop Sound Risk Management Strategies

Webinar Notes: Leveraging Information to Develop Sound Risk Management Strategies

This week’s webinar notes are from a November 7th event hosted by ISM and presented by IASTA and LexisNexis. The full details of the event can be seen on ISM’s site.

Any company that has implemented a spend analysis solution knows first hand the difference between data and intelligence. IASTA and LexisNexis did an excellent job laying out a framework for bridging that gap in Supply Market Intelligence (SMI). Many SMI programs have grown out of the need to get better risk mitigation from supplier performance management programs already in place. The highest priority risk categories include supply chain continuity, cost, and reputation – the implications of which hit both revenues and stock returns.

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Are You Leveraging Your Myers-Briggs ‘Type’ for Maximum Success?

Are You Leveraging Your Myers-Briggs ‘Type’ for Maximum Success?

Many of us have taken the Myers-Briggs personality test, either in school or on the job. One of the core principles is that there are no bad personality types. Taking the test is supposed to help you know yourself better, understanding your natural inclinations. That way, when you are under stress, not only will you be able to predict how you are likely to react to different situations, you may be able to alter your reaction to reach a desired result.

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Webinar Notes: Empowering the CPO Through Data

Webinar Notes: Empowering the CPO Through Data

In this week’s webinar notes we’ll feature two webinars that addressed the idea of empowering CPOs through data or business intelligence: ISM with the Aberdeen Group and IASTA with Forrester Research.

Both events addressed the need for procurement to have sufficient analytical capabilities to support the CPO’s efforts to develop strategies for improvement and risk mitigation, and acknowledge that even the best analytics are not actionable without external benchmarks. As a result, best-in-class companies are making investments in the technology solutions and services needed to improve procurement’s capabilities.

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Thank you, Merci, Danke, Gracias

Thank you, Merci, Danke, Gracias

Many cultures celebrate the harvest and offer thanks for a bountiful season. As the United States enjoys their Thanksgiving, we felt it was appropriate to thank those who walked along with us this year on our journey. No one succeeds alone and we are certainly aware of that!

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Blog Pick of the Week: IASTA regarding SAP and Ariba

Change takes time and yet it can also happen when you aren't looking. Another week goes by and before you know it, the change is now the norm. Well we are waiting and watching as the Ariba and SAP merger takes place. Like most corporate mergers, there are many steps involved. We all know that the legal aspects and subsequent paperwork will be a while for sure. However, even longer will be the changes within the organization.   

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Webinar Notes: 10 Ways To Drive Procurement Influence Using Advanced Technology

This week’s featured webinar was presented by IASTA, with speakers from Spend Matters and Cushman Wakefield (a global real estate and facilities management firm). Together they provided a fair balance of general recommendations and practitioner perspective. You can view the slides (with audio) on Slideshare.

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Back to Basics: Strategic Sourcing Success Factors

Whenever I see something that is titled "Back to Basics" I almost groan. That is like the latest secret to loosing 20 pounds. Here it is - Fewer calories in and more calories out. Really? Like diet and exercise are anything new?

We are so swept up in the immediate, we often can't step back and refresh to look at the whole picture. So that is why it is important from time to time to return to the basics.

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Software As A Service: Been to the Cloud?

I was in a presentation last week and they were talking about the advantages of their offering since it was "in the cloud". That is another way of saying Software as a Service (SaaS). It sounded amazing. All upgrades happen at once, there is not version control issues, you are part of a large family of organizations and so on. The virtues kept going such as the price is more reasonable and very little involvement is needed from your IT organization.  

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Green Purchasing and you

going greenBeing Green is a large movement in households as well as businesses. We are switching our  light bulbs, recycling, shopping with reusable bags and buying local to reduce on the use of fossil fuels. Of course people want the environment protected for future generations. However, it sometimes is not that simple. In these tough economic times, it is difficult to take on the green movement if it is more expensive.

One organization I know prides themselves on building LEEDS certified locations. They utilize that as a marketing tools and their customers feel good about working with them. Another organization worked very hard to categorize all their opportunities for their customers to work with them on green projects, and the effort fell flat.  Why was one so successful and the other not at all?

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