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The May ISM-New York Report on Business was released on June 2nd at 9:45am Eastern and is available for download here: 2020_ISM-New_York_May_ROB_v02.pdf. Please see the end of this commentary for additional information about the ISM-New York Report on Business.
As we turn the corner into June, the pace of even virtual events has slowed back to what I would expect to see in the summer months of a ‘normal’ year, which this decidedly is not. One sign of light at the end of the tunnel is this: I added a live event (yes, live – in person and with people in attendance) for November of 2020. Time will tell if that is going to hold and what it will look like, but it feels like a glimmer of hope all the same.
The April ISM-New York Report on Business was released on May 4th at 9:45am Eastern and is available for download here. Please see the end of this commentary for additional information about the ISM-New York Report on Business.
Data analysis has an image problem. Despite the fact that data collection is priority one, regardless of how common “big data” buzzwords have gotten, and setting aside all the calls for data-centric decision making… The boots on the ground, those of us who manage this analysis daily, have a problem.
Too many analysts are viewed as tactical cogs in a machine. We aren’t brought in to own and manage projects. We aren’t consulted on big ticket company objectives beyond the reports we’re asked to push out. Why? Because we aren’t doing enough to show value.
“The advent of new technologies – most notably blockchain – has the potential to radically transform how transactions are recorded, stored and used throughout supply networks. The result: a transparent supply chain that, if the hype holds true, will usher in unprecedented levels of visibility, accountability, efficiencies, collaboration and trust.
- Remko Van Hoek et. al., p. 1
"Productivity is never an accident. It is always the result of a commitment to excellence, intelligent planning, and focused effort." –Paul J. Meyer
This Blog by Anthony Iannarino captures that philosophy exactly from the Salesperson's perspective. As a procurement professionally, it applies as well.
Steven Jobs is an icon and will be missed tremendously at Apple and in the business sector overall. He and the team have built an extremely succesful company and a very strong brand. How does procurement weigh in on all this?
Yes or No: Soliciting Pricing from Alternative Suppliers is the Best Way to Benchmark Your Incumbent?
This week’s Wiki-Wednesday topic is benchmarking, and we are covering it at the suggestion of BMP member Victor Halchin. A discussion has been going on in the Strategic Sourcing & Procurement group on LinkedIn in response to the following question: "If you are "locked " into a supplier , would you be prepared to try another for benchmarking even if it was just to "bash " down the supplier on price - would you change suppliers if you were offered the same service at reduced costs on your purchasing requirements?”
I recently discovered a white paper that speaks to the exact premise of “The Flip Side” here at Buyers Meeting Point – that sales and procurement have a lot to learn from each other: ‘When Sales and Procurement Collide’.
This post is a follow up to 'Innovation Through Procurement Contests' (Part 1), my thoughts on Procurement Insights’ 3 part (so far) series on contests in public procurement. I’ve had a chance to think about the idea a little more and as far as I’m concerned, if it allows the buying organization to put the right solutions in place, then it is a benefit. As I commented in my previous post, the concern becomes for the procurement professional whose role becomes one of administration rather than strategy and negotiation. Although I didn’t realize it at the time, I had started down the road towards what would become a sticking point for some of the collaboration-style projects often resulting from new solution development: intellectual property rights.
After several days without power post-Hurricane Irene, I realized that reducing your carbon foot print is not that hard but can be somewhat inconvenient. I have been reading a great deal about organizations that are seriously reducing their carbon footprint.
The event had an interesting format - four speakers, same topic: quick savings wins. While all of the speakers were qualified, two set themselves aside by taking on the harsh realities of trying to increase savings for the year with only a sort time left to go.
This week's Wiki-Wednesday topic is Innovation, and you can click here to read an excerpt or to link back to the Wikipedia article. We chose this topic because of a series of posts being done this week by BMP mentor Jon Hansen on his blog Procurement Insights. He is addressing a growing debate over the benefits of using procurement contests - particularly in public procurement - to innovate without absorbing the direct costs of a major R&D investment.
This week’s Flip Side topic comes from a webinar and white paper put out by The Executive Conversation and the Brandon Hall Group in July 2011 “Essential Selling Competencies: The Buyers Side Perspective”. I haven’t been able to find a place on either company’s website for you to directly download the whitepaper or listen to the archive of the webinar, so let me start by giving you a quick rundown on the whitepaper itself.
Six Ways to break a Negotiation Deadlock (Plus One More) A You Tube Video from Blue Elephant Consulting
I’m taking a break from the usual this week, and rather than covering a webinar, I’d like to share a new series of YouTube videos with you. Don’t get your hopes up – there are no home movies of cute cats falling down stairs or into grocery bags. Instead, I’d like to introduce you to a series of 5-7 minute videos made by Dr. Jim Anderson of Blue Elephant Consulting, and the writer of “The Accidental Negotiator” blog.
When I am reading the books that may end up on the Buyers Meeting Point Endorsed Publications list (in the Procurement Library), I often find that they are missing a certain… something? Now I know what it is – cartoon illustrations! All joking aside, I am now in a position to recommend a book that contains solid procurement advice and pictures. Read all the way to the end of this interview to see my favorite from the book.
Last week I attended an excellent supply chain risk management webinar sponsored by the Next Level Purchasing Association and featuring a global supply chain manager from a Fortune 500 company. The event followed the story of this particular corporate supply chain through the 2010 tsunami in Japan (you can click here for my notes).
One of the lessons this particular company learned was about finding the right place for addressing the human side of a very complicated business issue. I was impressed with the efforts they had made, particularly for such a large company. A thought started to form in my mind: what contract clauses were put aside in order to have an appropriate response to the devastation while not creating serious business continuity issues?
In order to get another perspective on the topic of procurement outsourcing, we reached out to our undercover sales expert, "The Sales Guy". TSG is a sales VP with 30 years and approximately $1B+ in sales under his belt. We are keeping his identity under wraps – for the same reason magicians never reveal their tricks, his colleagues might not like him giving us the inside scoop on sales’ view of procurement. Here are his thoughts...
Weekend Extra: BMP’s Webinar Notes on 'A Case Study for Proactive Supply Chain Management' by Next Level Purchasing
Before I even begin my notes, let me just point out that if you are not a member of the Next Level Purchasing Association, you are missing out. Next Level Purchasing offers the SPSM (Senior Professional in Supply Management) certification program. Joining the association is absolutely free and comes with a number of benefits, such as members-only webinars, newsletters, and networking opportunities. If you want to get your feet wet with the kind of programs they offer, there are several mini-courses they offer, completely online and for less than $20! Interested? Good for you! Click here to learn more by clicking on the NLP logo on our partner page. That way Buyers Meeting Point gets credit for your purchase and a portion of the proceeds go to charity.