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Giving second tier data the second degree

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Earlier this month we ran a collaborative piece by Jeanette Jones (Cottrill Research) and I on the alleged manipulation of agricultural data in the chicken supply chain. You can read that post here.

Right after I started researching for the chicken story, I came across yet another great example of why we all have to be so cautious when we cite the source of a piece of information – only this time the main culprit is: PEPPA PIG.

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Being a leader doesn't mean everything comes easy - it means not expecting them to be easy

Being a leader doesn't mean everything comes easy - it means not expecting them to be easy

I recently interviewed Magnus Carlsson, the author of Strategic Sourcing and Category Management: Lessons Learned at IKEA. You can listen to our conversation on demand on BMP Radio.

Although the book centers around the how and why of IKEA’s approach to procurement and supply chain, its content is not limited to large multi-national corporations or companies in the furniture and home goods industries. IKEA is a company that competes on brand and low costs, which makes its approaches to spend and supplier management absolutely critical to its ability to operate.

IKEA has been able to accomplish many things that other companies have not because it is necessary for them to remain competitive. As a result, their team members – and former team members, for the sake of including Carlsson – approach complex and strategic procurement with a striking clarity of purpose. There is no other way for IKEA to work, and therefore there is no reason to resist or bemoan the uphill strategic path.

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Webinar Recommendations for June 1-5, 2015: Contingent Workforce, Oil Price Impacts, and Market Analysis

Webinar Recommendations for June 1-5, 2015: Contingent Workforce, Oil Price Impacts, and Market Analysis

And here we are, skidding into the summer season on two wheels. Don’t let that make you think that there aren’t any events worth attending, however. If anything, the break in the busy conference season until September opens up the calendar for webinars. 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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Ten Days and Counting: Supply Market Intelligence for Procurement Professionals

Ten Days and Counting: Supply Market Intelligence for Procurement Professionals

On September 3rd of last year, Jeanette Jones, Owner and Founder of Cottrill Research, suggested (out of the blue!) that she and I co-author a book. There was never any question of whether or not I would do it. I’ve always wanted to write a book. I enjoy doing research and I have been fascinated with procurement ever since I ‘fell into’ the profession in 2003. Jeanette’s suggestion that we write a book to help procurement professionals create their own supply market intelligence combined all three.

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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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Book Review: Research on Main Street

Book Review: Research on Main Street

 Despite the fact that Marcy Phelps’ Research on Main Street is not necessarily written for a procurement audience, it offers invaluable advice as well as links to the resources required to carry that advice out. The idea of ‘local’ is not limited to the location of the researcher, but rather the information being sought. Another way of looking at it is point-point information, highly specific to a business need and detailed enough to motivate a decision.

 

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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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Market Driven Procurement: Bringing the Future into Focus

Market Driven Procurement: Bringing the Future into Focus

“What pressures are coming to bear now, or in the foreseeable future, that may impact your supply chain and the ultimate sale of your products or services? Gathering market intelligence should include an understanding of what is happening in the economies of both your consumer’s as well as your supplier’s locations. This market intelligence can be used to both react to conditions and to take advantage of potential cost savings opportunities.”

--‘Understanding Market Pressures’ Managing Indirect Spend, Joe Payne and Bill Dorn

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Market Analysis Process Example: Gypsum

Gypsum was the first category I was asked to do research for – truthfully, it was very early in my career and I think my manager was trying to productively keep me busy. But the process was a good learning experience and I think I added real value to the team. For lack of a reason to pick any other product or service, I’ll start with gypsum here too.

Gypsum is used to make plaster and plasterboard – basically drywall. So if you are sourcing in the construction category, and your General Contractor is not responsible for materials costs/purchases, you might find yourself bidding this out.

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