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

No Leverage? No Problem: Tips for turning a lack of negotiating leverage into a winning strategy

 “We take a buck, we shoot it full of steroids and we call it leverage.” -Gordon Gecko (Wall Street 2)

 

Leverage - a word that has such meaning it could be used to define itself. When it comes to negotiating, leverage is king. Whether you’re trying to negotiate a multimillion dollar contract or figuring out how to get an extra quart of strawberries included with your purchase at the local farmer’s market, people are always searching for it, and without it you have nothing. Having no ground to stand on when attempting to ask for a compromise from another party is not an ideal position.

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Recommended Procurement Webinars for May 29 – June 2: Uberization, Customer-Centricity, and a Mystery RPA case study

This is a short week with Memorial Day in the U.S. and a Bank Holiday in England, but that didn’t prevent companies from scheduling webinars. In addition to the events below, the May ISM-New York Report on Business will be released on Friday at 9:45am ET. Click on the title of each webinar below to view the full description and register. You can also check out my notes from one of last week's webinars, The Digital Procurement Era, presented by Dr. Rob Handfield.

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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Webinar Notes: The Digital Procurement Era

This week’s webinar notes are from a May 23rd event hosted by BravoSolution (part of their 2017 Real World Procurement Series) and presented by Dr. Rob Handfield, Executive Director of the Supply Chain Resource Cooperative, and the co-author of The Procurement Value Proposition and a new title being released in June, The LIVING Supply Chain: The Evolving Imperative of Operating in Real Time. The webinar is already available on demand here.

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Recommended Procurement Webinars for May 22 - 26: 5 great events by participant type

 This week includes one of the best slates of webinars I have seen go by in a long time. Of the 10 events taking place, HALF of them deserve recommendations. Maybe this is the last ‘big hurrah’ before the official start to summer next weekend? 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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Recommended Procurement Webinars for May 15 - 19: Moving Beyond Price, Applying Watson, the Amazon Effect

Procurement Leaders’ World Procurement Congress is ‘in session’ this week in London on Tuesday and Wednesday. If you’re looking for a virtual event to attend, my picks for the week’s best webinars are listed below. 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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Sourcing Custom and Secondary Packaging: Considerations for Optimal Results

Each purchasing category, whether indirect or direct, has a unique set of parameters that can be optimized to take full advantage the savings opportunities in the market. The packaging category is no exception, offering major opportunities for cost savings beyond the basic volume leverage approach.

Packaging, which may be considered either a direct or indirect product depending on the use and company, can be particularly complex to take to market. Many organizations strive to find a supply base that can support the company’s needs while generating value. Taking into consideration the upfront investment of time and resources (without a guaranteed ROI), running a competitive bid process can be an intimidating endeavor for many companies. However, with the proper expertise, packaging is an area of spend with major cost reduction and value added opportunities.

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Recommended Procurement Webinars for May 8 - 12: Collaboration, Contract Risk, Fast-tracked Supply Chain Risk Management

This week, ProcureCon Travel is taking place in Henderson, NV Sunday through Tuesday. May is quickly filling up and this week I started adding events in June. Take a quick look and register for an upcoming event or two. 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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Recommended Procurement Webinars for May 1 - 5: A Tight Talent Market and Our Volatile World

It’s May. Aaaaaaaaah! Seriously, though, that means the clock is ticking on the official start of the summer work season (I date mine from the Friday before Memorial Day). I fully expect webinars to continue strong through the summer months, and there are already a couple of June in person events as well. 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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Recommended Procurement Webinars for April 24 - 28: Procurement Finance 'Drama' Plus Millennials

It is spring, and there’s something in the air… it’s not quite romance, but there will be plenty of drama with two examinations of the procurement finance relationship on Wednesday. If you’re looking for an alternate subject, consider the role of millennials in supply chain or sourcing optimization. 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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Recommended Procurement Webinars for April 17 - 21: CSI, Agility, and RPA

Procurement is a function with ever-increasing scope and potential for impact. As this week’s recommended events suggest, we can address the entire P2P process, unite the past and future through forensic examination of contracts, and push the boundaries of automation. 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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Design, Defined

Design – a term that dates back to the 14th century - has become mainstream over the last decade. Design has done well operating on the fringes of organizations and people are now seeing the value that it can create and provide. It has emerged as an important tool to help people see and guide change. How far will it spread and what will be the extent of its impact on business? 

Let's start by taking a broad view of the word in order to understand it's origin and meaning.

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Recommended Procurement Webinars for April 10 - 14: Intelligence and Analytics

This week, ProcureCon Canada runs from Monday through Wednesday in Toronto. Follow @ProcureCon for news and highlights from the event. 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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Achieving World-Class Procurement Part 2: Taking a Deep Look at Your Current Operations

As I mentioned in Achieving World-Class Procurement Part 1, today’s increasingly competitive market landscape is driving organizations to reinvest in their procurement and strategic sourcing departments like never before. Beyond establishing centralized purchasing operations, best-in-class companies are elevating their procurement organizations by taking a deeper look at people, processes, technology, and metrics and optimizing them in ways that support enterprise-wide goals – through procurement transformation.  Transformation initiatives allow companies to gain more value from their procurement operations, moving from a reactionary model focused on reducing costs to a more proactive approach to managing spend that streamlines purchasing practices and enhances supplier relationships.

 

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Recommended Procurement Webinars for April 3 - 7: A ‘Rendezvous’, Demystifying AI, Digital Workforce

If you’re in the London area this week, reach out to MarketDojo and save your spot at their first ever ‘rendezvous’ - Creating real value from eSourcing on Thursday. If you’re not spending the week at a gorgeous 17th century manor house, make yourself a cup of tea before sitting down to one of the following webinars. 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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Recommended Procurement Webinars for March 27 - 31: RPA, Millennials, Annual NLPA Salary Survey

This is a busy week - 13 webinars in 3 days – with webinars covering a wide range of topics. If the events below don’t match your interests, check our calendar for webinars on warehousing, analysis, DPO, and Pharmacy. 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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Why telecom companies don’t want CPOs to know about TEM

Mobile devices are now part of the modern business uniform. Mobile phones created a culture of always available, but mobile devices enable constant connectivity. What telecom companies don’t want CPOs to know is that bundling voice, data, and devices with them is no longer the most effective way to manage telecoms spend.

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Recommended Procurement Webinars for March 20 - 24: AP Automation and Learning Supply Chains

The new computing trends have officially reached a fever pitch. Few blog posts and events don’t discuss the potential of AI, automation, smart machines, and cognitive computing, and this week’s recommended webinars are no exception. 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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Recommended Procurement Webinars for March 13 - 17: Automation, AI, RFXs, and Risk

Mark your calendars now – this week all the action is happening on Thursday. If you’re in New York City, consider registering for ISM-New York’s Annual Meeting on Procurement Risk Management. If you’re not already a member and need a connection, reach out to me directly and I’ll be glad to make an introduction. 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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Book Review: Supply Chain Construction

This supply chain is the bridge between the customer needs of a market segment and the value-added of a product. If we can’t connect the two, then we have a show stopper.” (p. 4)

Supply Chain Construction: The Basics for Networking the Flow of Material, Information, and Cash by William Walker (CRC Press, 2016) is an impressive work that combines exhaustive supply chain planning considerations, processes, and figures with a narrative that keeps all of the information provided firmly rooted in reality.

I met the author in person at the February 2017 ISM Economic Forum in NYC where he participated in a panel discussion I moderated. Although Bill is an adjunct professor of supply chain engineering at NYU, the book is far from academic. It illustrates critical business principles through plausible real life examples that make their lessons easy to understand and recall long after reading them.

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Groundbreaking action that truly drives the greatest change for women

Editor’s note: March 8, 2017 has been designated International Women’s Day. This year’s theme: #BeBoldforChange is a call to women in all walks of life to push boundaries and recognize the inspiring women in their lives. In honor of this day, Buyers Meeting Point welcomes Odesma Marketing Executive Ashley Brennan and UK Marketing expert Annie Spilsbury to celebrate the accomplishments - and discuss the opportunities still to be seized – in the following post.

To celebrate this years International women’s day campaign, #beboldforchange, Annie Spilsbury talks about why it is important to her and what women have inspired her to become who she is today and strive to achieve in the male dominated industry of Procurement.

Annie Spilsbury is a leading UK based expert in the procurement of Marketing services, and has a long association with Odesma, and with Odesma’s founders. She has extensive above and below the line procurement experience in the acquisition of marketing services and has provided support most recently to Odesma’s client Brambles across the World.

Annie is mum to two young children (under 5), who more than significantly keep her on her toes! When she has some spare time Annie loves horse riding, the gym, swimming, yacht racing, gardening, socialising and having family fun. This year Annie plans to test the tribe on music festivals so as life grows, so do their experiences.

Odesma offer a new breed of procurement advisory which ensures you stay ahead of the market and improve more than just your bottom line. With nearly 100 years in the procurement business and experience in every industry imaginable, Odesma offers procurement as a service by bringing together leading subject matter expertise, technology, governance and leadership in a way that is tailored to the needs of any organisation.

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