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Lessons from the Ultramarathon Trail to Prepare for the Category Management Journey

Lessons from the Ultramarathon Trail to Prepare for the Category Management Journey

These webinar notes are from a September 24th webinar hosted by SIG and presented by Chris Eyerman and Alan Veeck at Denali Sourcing Services. The webinar is available on demand and can be viewed after a quick registration here.

In case you’re wondering, an ultramarathon is an INSANELY challenging combination of long distance running and trail running. Technically, they include any marathon over the traditional 26.2 mile run, but from the sounds of Eyerman’s description, they are also usually off road excursions that can be as long as 100 miles. And he should know – he has run them.

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Webinar Notes: The Pulse of Procurement 2015

Webinar Notes: The Pulse of Procurement 2015

These notes are from an August 25th webinar hosted by Sourcing Industry Group and presented by Zycus. The two speakers were Ian Hinke, Vice President of Sourcing and Vendor Management at PHH Mortgage, and Richard Waugh, Vice President of Corporate Development at Zycus.

This event showcased the results of Zycus’ annual Pulse of Procurement study. This year, the participants included 400 respondents, 80% of which were from large companies (<$500M in annual revenue) in North America (68%). Three quarters of the respondents were in procurement management positions.

Although most of the questions were the standard ones about performance metrics, maturity, and technology adoption, there were some very interesting findings between the lines…

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Webinar Notes: The Dawn of Risk Management: Harnessing the Power of Watson

Webinar Notes: The Dawn of Risk Management: Harnessing the Power of Watson

These notes are from a June 23, 2015 webinar hosted by Sourcing Industry Group and presented by Louis Ferretti, a Project Executive at IBM. While only SIG members can view the recording on demand, you can catch Ferretti at their Global Executive Summit in October.

I knew I wanted to attend this event as soon as I heard Watson, the artificial intelligence computer that competed against two of the best ever Jeopardy! contestants in 2011 and won, would be featured. If that kind of AI could be applied to supply chain risk management, just think of what might be possible! In this case, IBM presented from the buy side perspective, although many companies are familiar with them on the sell side. Watson was applied in the management of IBM’s own spend.

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Webinar Recommendations for July 13 – 17, 2015: Spend as a Service, Attacking Capital Wasters, and the Global Organization

Webinar Recommendations for July 13 – 17, 2015: Spend as a Service, Attacking Capital Wasters, and the Global Organization

There are three events taking place this week, and they are all worth attending. Click on the title of each event below to view the full description in our events calendar and connect to their registration pages.

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Webinar Recommendations for July 6 - 10, 2015: Townhall on Risk, the End of SAP’s eSoD, and Contract Playbooks

Webinar Recommendations for July 6 - 10, 2015: Townhall on Risk, the End of SAP’s eSoD, and Contract Playbooks

As we start the first full week of July, events are continuing – albeit at a slower summer pace. The upside of that is that anyone presenting a webinar knows the topic has to be really compelling to get people to attend. Click on the title of each event below to view the full description in our events calendar and connect to their registration pages.

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Webinar Recommendations for May 18 – 22, 2015: Trusted Advisor Status, Supply Risk, The Road to Resiliency

Webinar Recommendations for May 18 – 22, 2015: Trusted Advisor Status, Supply Risk, The Road to Resiliency

Any one of this week’s recommend webinars will be a good pick if you are looking to increase your skills, your influence, or your … click on the title of each to connect to that event on our calendar and link to the registration page.

 

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Procurement Delivering on Best Value

Procurement Delivering on Best Value

When our children were ready to buy their first cars, they had saved up enough to get something that was safe for driving around town and within their budget. However, they did not take into account the total cost of ownership so we outlined it for them. It was not just the purchase price of the car but also gas, insurance and repairs. They were not excited about those expenses. Buying new tires or fixing an exhaust problem was not high on their list of ways to spend money. Believe me, it is not high on anyone’s list no matter what age they are!

This week’s article by Kate Vitasek, “Use Best Value to get Your Best Bottom Line”, discusses the role of procurement and shifting to focus not just on cost but on the full cost of ownership. It emphasizes that while most professionals understand getting to the TCO is the best value, many do not employ that methodology.

It is often about so many other things such as how soon a new piece of equipment needs to be repaired and how much do the parts cost when a repair is needed. How far away are the service centers that could impact the length of time a piece of equipment is out of service? When it is time to dispose of the equipment, what is the cost of that or is there some ability to recycle or sell it?

What success stories do you have around procurement and the TCO or Best Value approach? Is it easier to apply in some cases and not in others?

Share your thoughts by commenting below or tweeting us @BuyersMeetPoint.

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Webinar Recommendations for May 11 – 15, 2015: Vested Outsourcing, S&OP, More CPO Rising

Webinar Recommendations for May 11 – 15, 2015: Vested Outsourcing, S&OP, More CPO Rising

The BMP events calendar is stocked for the rest of the month of May, and this week I recommend the following webinars… click on the title of each to connect to that event on our calendar and link to the registration page.

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Webinar Notes: Defining Procurement’s Story to Inspire, Motivate, and Lead Change

Webinar Notes: Defining Procurement’s Story to Inspire, Motivate, and Lead Change

This week’s webinar notes are from an April 30th event hosted by Sourcing Interests Group and presented by Denali’s Alan Veeck and special guest Paul Smith from ‘Lead with A Story’, a coach, speaker, and author.

The webinar explored how professionals can leverage the techniques of storytelling to build influence and communicate an important message in an effective way. In Smith’s terms, storytelling is simple, timeless, contagious, and memorable, and it works across demographics.

Within the context of procurement, Denali has been incorporating storytelling into the training they provide to category managers. With the wide range of responsibilities being handled by category managers today, they have to function within an operating model that allows for proper division of labor. Coaching them is like cross training, bringing together a range of diverse skills that will help them become more strategic.

The lessons from this webinar combine to create something like ‘communication theatre’ that you can leverage to get your message through – as long as you are willing to put in the effort up front. What the speakers did not directly address in this event, but that should not be underestimated, is the time and planning required to apply storytelling. You have to know your audience, craft a story in such a way that it has the desired effect, and choreograph the execution carefully.

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Which of my 2014 Procurement Webinar Notes got the Most Traffic?

Which of my 2014 Procurement Webinar Notes got the Most Traffic?

Some days I think I eat, sleep, and breathe procurement and supply chain webinars. On a weekly basis I update the calendar. I consider the topics, the speakers, the hosts, the likelihood of promotional content versus thought leadership. I make my recommendations every Monday (on Blog Talk Radio) and share my notes on Fridays.

In 2014 I covered 29 webinars by sharing my notes on Buyers Meeting Point and through social media. They covered a broad range of subjects, including risk, talent, organizational issues, negotiation, and global supply chains. When I look back at the hits per post over the course of the year, there are 5 that stand out for getting over 1K hits each. You might think it was a simple matter of time, and there is something to that – some of our oldest event notes have over 50K hits – but these five events were pretty evenly distributed over the course of the year. They also all have unique hosts, presenters, and topics.

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Webinar Notes: Realizing the Power of Market Intelligence in a Dynamic Global Economy

Webinar Notes: Realizing the Power of Market Intelligence in a Dynamic Global Economy

This week’s webinar notes are from an October 28th webinar hosted by Sourcing Interests Group and presented by Sherri Barnes, Director of Intelligence at Denali Group.

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Town Hall Notes: Designing a Meaningful Set of Performance Metrics for Every Contract

Town Hall Notes: Designing a Meaningful Set of Performance Metrics for Every Contract

This week’s event notes are from the September SIG Town Hall Teleconference. In this open mic event, Dawn Evans, SIG’s President and CEO, led a discussion about the metrics procurement can put in place to drive meaningful results from suppliers. These events, held monthly, are open to buy side members. SIG also welcomes first time buy-side non-members so they can experience the open nature of a SIG Town Hall Teleconference. These events are unsponsored and are never recorded in order to encourage open participation. For more information on SIG Town Halls, click here.

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You Gotta Fight… For the Right… To Manage Your Professional Development Budget

You Gotta Fight… For the Right… To Manage Your Professional Development Budget

“Great procurement professionals are not born, they are bred…"

- Dawn Evans, President and CEO, Sourcing Interests Group, July 2014 'Letter from the President'

I place a great deal of value in the fact that I have been able to work well and productively with all of the professional associations in our space. Each one is a little different and meets a specific need for a particular subset of the procurement professional community. I am not an active member of any professional association – including Sourcing Interests Group (SIG). My comments here have less to do with advocating for them in particular than being concerned about the resources available to the procurement community as a whole. I would have made the same argument on behalf of Spend Matters PRO or Procurement Leaders if they were the subject of some budgetary misclassification.

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Webinar Notes: Change Management Done Right

Webinar Notes: Change Management Done Right

This week’s webinar notes are from a Sourcing Interests Group webinar on Change Management Done Right. In this webinar, two speakers from Jones Lang Lasalle (Michael Jordan, Leila Lance) and the Former Head Sustainability for KeyBank (Jessica White) will discuss how KeyBank used change management practices to develop and implement a robust sustainability program.

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Webinar Notes: Talent and Knowledge Management: The Procurement Imperative for 2014

Webinar Notes: Talent and Knowledge Management: The Procurement Imperative for 2014

This week’s webinar notes are from a March 25th event presented by Sourcing Interests Group and Denali Group. If ‘getting it done’ is the focus for most procurement organizations, talent and knowledge management are where the rubber meets the road. In the event, we heard Denali’s Managing Partner John Evans and their Director of Recruiting and Staffing Marrena Anderson talk about the growing trends that require additional investments in talent and how to build an effective knowledge management program.

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Webinar Notes: Farming Supplier Relationships: Learn to Drive Value More Effectively

Webinar Notes: Farming Supplier Relationships: Learn to Drive Value More Effectively

This week’s webinar notes are from an October 29th event hosted by Sourcing Interests Group and presented by David Jungling from Denali Sourcing Services. If you are interested in the content, but aren’t a member of SIG, Denali also recently published a whitepaper on the topic, which can be downloaded here.

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Webinar Notes: Shape Your Procurement Team to Tackle Analytical Issues

Webinar Notes: Shape Your Procurement Team to Tackle Analytical Issues


This week’s featured webinar notes are from a September 26th Sourcing Interests Group event presented by A.T. Kearney Procurement and Analytic Solutions. If you are a SIG member, both the slides and the event recording are available on-demand at SIG.org.

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Webinar Notes: Procurement Operating Models

Webinar Notes: Procurement Operating Models

This week’s featured webinar was hosted by Sourcing Interests Group and presented by KPMG with a case study from Greif, Inc. on Procurement Operating Models.

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Webinar Notes: Learn Why Top CPOs are Guardians of the Bottom Line

Webinar Notes: Learn Why Top CPOs are Guardians of the Bottom Line

This week’s featured event was hosted by Sourcing Interests Group and presented by IBM's Institute for Business Value or IBV. IBM just released the largest, most comprehensive Chief Procurement Officer Study ever conducted, with participation from 1,128 CPOs from organizations with annual revenue in excess of US$1 billion.

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Are You Elastic Enough to Be a Top Performer?

Are You Elastic Enough to Be a Top Performer?

IBM's Institute for Business Value (IBV) just released the largest, most comprehensive Chief Procurement Officer Study ever conducted, with participation from 1,128 CPOs from organizations with annual revenue in excess of US$1 billion. According to the study, “Companies with high performing procurement organizations have profit margins 15 percent higher than the average company and 22 percent higher than those of companies with lower performing procurement organizations.”

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