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

Recommended Webinars September 17-21: Geeking out on AI, Digital Procurement, and Trade Wars

This week presented me with a challenge on two levels – it was hard to select just three of the nine fantastic webinars taking place in the next few days, but it was just as difficult to decide which longer term event to suggest. At the end of the day, I compromised on a tie; both of the following events look amazing:

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: The Ultimate Showdown Sales vs. Procurement

“The only time they don’t say ‘Drop your pants’  now is at the Christmas party.” (p. 10, Epstein on sales' common interations with procurement))

 

The Ultimate Showdown Sales vs Procurement: The Secrets Unveiled at the Negotiation Table by Elliot Epstein and Paul Rogers (2018) is an absolutely fantastic book. In addition to getting two open and unapologetic perspectives on business, I was also left with the feeling that I had made two new friends.

The format of this book is unique, written entirely like a play (one paragraph at a time with the ‘speaker’ identified in the left margin), but it is fitting for the message and experience the authors want to deliver. We don’t need another buttoned-up, polite analysis of how sales and procurement have different approaches, challenges, and incentives – and the authors haven’t given us that. Instead, we get sales (represented by Epstein) and procurement (Rogers) having a debate. If the angel on your shoulder could have a sarcastic exchange with the devil on your other, I imagine it would read much like this. I won’t suggest which function (sales or procurement) is on which shoulder.

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Book Review: Third Party Risk Management

“Efficient, effective, risk-centric, and risk-adjusted third party lifecycle and risk management is a new and distinct way of doing business. How your company approaches any major change like this one is up to senior leadership.” (p. 162)

 

Third Party Risk Management: Driving Enterprise Value by Linda Tuck Chapman (The Risk Management Association, 2018) tackles one of the topics that procurement organizations discuss most – how to prepare for, handle, and mitigate the risks that result from our company working with third parties. Although it is not declared on the cover, the book is largely focused on the financial services industry. That said, the vast majority of the information will apply to your company regardless of industry or sector.

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The Material Cost Benefits of Full Workforce Visibility

Between the new technologies available and the tidal wave of talented individuals with people analytics experience, companies can now see their entire workforce in new and exciting ways. But while most organizations recognize the benefits of full workforce visibility, their efforts stall when those that need it can’t clearly articulate the benefits to company leaders and decision-makers.

While there are a number of ancillary benefits of full workforce visibility (e.g. worker quality improvements, access to talent, vendor performance comparisons) this article focuses on the different ways an organization can leverage new levels of visibility to drive cost savings.

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Recommended Procurement Webinars September 10-14: Taking Action as a Catalyst, in Supplier Relationships, and through a Better User Experience

Although webinars are primarily a ‘sit back and listen’ format, this week’s recommended webinars are all designed to SPUR you into action! There’s only so much talking procurement can do before the conversation turns to measurable results, and there is a lot of work to do if we are going to deliver in line with procurement’s full potential.

If you’re planning a little further out, I recommend “Putting Data at the Center of Digital Procurement” with ISM and Zycus on September 18th at 2pm ET.

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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China: Beyond the Trade War Hype

Globalization has transformed the world into one big economy. Capitalist theory suggests that markets in an open and healthy economy promote widespread well-being by increasing competition and ensuring the availability of goods and services. Increased competition then drives production cost optimization, research and development, quality management, differentiation, innovation, and other positive externalities. Broadly speaking, competition generates wealth.

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The August ISM-New York Report on Business: Nowhere to go but down... except up

The August ISM-New York Report on Business was released on September 5th at 9:45am Eastern and is available for download here.

Like the other ISM reports, the ISM-New York Report on Business is compiled as diffusion indices –we add the percent of positive responses to one-half of those responding that conditions remained the same.  A reading of 50.0 means no change from the prior month, greater than 50.0 indicates a faster pace of activity, and less than 50.0 a slower rate. Each month is not so much a reading of the current level of activity as it is an indication of growth or contraction from the previous month.

A note specific to the New York Metro area, where all of this report’s respondants are located: they are predominantly in professional services industries. It is important to keep this in mind when we think about the context for the trends being reported by these particular purchasing managers.

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Recommended Webinars September 3-7: Catalyst Action Planning, Digital Contract Management and Chilean Wine!

I thought this week might be so quiet that there wouldn’t be any webinars to recommend… Wrong-O! Monday will be a ghost town in most of the U.S. because of the Labor Day holiday, but things pick right back up for the rest of the week. Next week is already busy too, with 8 webinars and one conference already on the calendar.

If you’re planning a little further out, I invite you to spend an hour of time with Phil Ideson (Art of Procurement) and I on September 11th or 12th. We’ve scheduled 3 live, virtual workshops that cover every conceivable time zone, so you really have no excuse not to be at one! By the end of the hour, you’ll have completed your own unique procurement catalyst plan for action – so have a pen and paper handy! Click here for more information.

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 Webinars August 27-31: Partnering effectively, Tight labor markets, ROI driven analytics

For being the last ‘official’ week of summer, there are quite a few events listed – including two strong late additions, one from the Economist Intelligence Unit and another from IACCM. I’m not listing the EIU event on Mexico as one of my core recommendations, but I’ve already registered to attend – and for 2 reasons: 1. I’m a news junkie and want to get a business perspective on Andrés Manuel López Obrador (or “AMLO”), Mexico’s new leader, and 2. anyone in supply chain in North America owes it to themselves to understand the implications of such major a political shift.

If you’re planning a little further out, I recommend “Taming the Long Tail - The Strategic Opportunity in Indirect Spend” from SIG and Bonfire on September 13th at 1pm ET. This webinar touches on a theme I’ve been thinking and writing about for a while now, that the path to strategic procurement goes straight through (not away from) our tactical responsibilities.

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 Webinars August 20-24: Unlocking Digital Value, Collaborative Center of Excellence, Fundamental Negotiation Philosophies

It was really hard selecting just three events to recommend this week – even the webinars that I’m not highlighting below sound fantastic. They include a Supply Chain Now Radio event on attracting top supply chain talent and an ISM/LexisNexis event on applying the PESTLE framework. We also have ProcureCon Direct taking place in San Diego, CA on Tuesday and Wednesday.

If you’re planning a little further out, I recommend “How a Leading Wine Producer Is Making Digital Order Management a Reality” from HfS Research on September 6th at 11am ET. Come for the wine, stay for the digitalization.

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 Webinars August 13-17: Digital Strategy, ROI boosting KPIs, Expensive Mistakes

After a clear events calendar last week, we’re back – and with five events to choose from! I’ve also started adding some great events for September, including AI and manufacturing, next generation operating models, and community intelligence. Take a look and get something in your schedule to start the fall off right.

If you’re planning a little further out, I recommend “Securing the Internet of Things” from SIG and Mayer Brown on September 25th at 1pm ET.

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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Survey Chair Commentary: The July ISM-New York Report on Business

The July ISM-New York Report on Business was released on August 2nd at 9:45am Eastern and is available for download here.

Like the other ISM reports, the ISM-New York Report on Business is compiled as diffusion indices –we add the percent of positive responses to one-half of those responding that conditions remained the same.  A reading of 50.0 means no change from the prior month, greater than 50.0 indicates a faster pace of activity, and less than 50.0 a slower rate. Each month is not so much a reading of the current level of activity as it is an indication of growth or contraction from the previous month.

A note specific to the New York Metro area, where all of this report’s respondants are located: they are predominantly in professional services industries. It is important to keep this in mind when we think about the context for the trends being reported by these particular purchasing managers.

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Recommended Webinars July 30 – August 3: Overall Spend Management and a Little Help for Outreach Challenged Suppliers

This week and next are slow in terms of virtual events, maybe because we’re changing the calendar to August on Wednesday? There is a live event though – ProcureCon Contingent Staffing taking place in Minneapolis, MN on Tuesday and Wednesday. I’ll also be releasing the July ISM-New York Report on Business results and commentary on Thursday, so the week isn’t going to be completely quiet.

If you’re planning a little further out, I recommend “Fundamental Philosophies in Negotiation for Buyer and Seller”, being hosted by SCN Radio, TalentStream, and APICS Atlanta and presented by my good friend Mark Bilgin on August 24th. Sign up now while you’re thinking of it!

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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How to Maintain Your Seat at the Table (Even if you aren’t there yet)

Procurement organizations often note one pursuit above all else: getting a seat at the table. I think we have coined this phrase more than any other in the procurement space in the last decade. If you’re not familiar with this concept, it is the desire for procurement to been viewed as a valued asset in strategy building and decision making by its customers: the broader organization. Put simply, procurement wants to be heard early and clearly by their internal peers.

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Recommended Webinars July 23-27: Enterprise Drivers for Digital Transformation and Controlled Risk Management

We’re slowly chugging through the summer – in fact, next week’s recommendations will move into August. Actually, we’re already there in a way, because my long term recommendation for this week is just before Labor Day weekend: “Supply Chain and Safety: The Imperative of Partnering to Effectively Manage Contractor Performance and Risk” from ISM and Veriforce on August 29th.

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 Webinars July 16-20: Looking at the Gender Pay Gap and Finding Hidden Supply Base Value

This week’s webinar cover a wide range of topics, with a healthy dose of creativity scooped on top! If you’re planning a little further out, I’d like to invite you to join me for a panel-format webinar hosted by Tradeshift on August 16th at 2pm ET: The 5 Most Expensive Mistakes AP Can Make – And How To Avoid Them. Dena Weinstein, Global Controller at Tradeshift, Richard Porcaro, VP Procurement at ChainIQ and I will discuss how AP teams can become a driving force for positive cash flow. Mark your calendar!

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 Webinars July 9-13: Supply Chain Vulnerability, State of Outsourcing, Leading Procurement

After last week’s hiatus, we’re back with a full slate of webinars. If you’re looking to plan a little longer term than just this week, I recommend checking out “Don’t Go Chasing Unicorns” from Procurious and SAPAriba (a #ProcurewithPurpose webinar) on July18th at 2pm ET.

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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Survey Chair Commentary: The June ISM-New York Report on Business

The June ISM-New York Report on Business was released on July 3rd at 9:45am Eastern and is available for download here.

Like the other ISM reports, the ISM-New York Report on Business is compiled as diffusion indices –we add the percent of positive responses to one-half of those responding that conditions remained the same.  A reading of 50.0 means no change from the prior month, greater than 50.0 indicates a faster pace of activity, and less than 50.0 a slower rate. Each month is not so much a reading of the current level of activity as it is an indication of growth or contraction from the previous month.

A note specific to the New York Metro area, where all of this report’s respondants are located: they are predominantly in professional services industries. It is important to keep this in mind when we think about the context for the trends being reported by these particular purchasing managers.

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Recommended Webinars June 25-29: Dashboard analytics, CPO Rising 2018, AI Category Management

If you’re thinking of attending a webinar any time soon, this is the week. Next week’s calendar is completely empty, likely due to the Fourth of July holiday in the U.S. Even the week after only has one event as of right now, so we may finally be entering the summer slowdown.

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: Fundamentals of Risk Management (5th Ed.)

“When considering any contribution that risk management can make to the organization, it is important to decide whether the contribution will relate to strategy, projects and/or operations. The decision will enable the risk management activities within the organization to be aligned with the other business operations activities and imperatives.” P. 292

 

Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management (5th Ed.) by Paul Hopkin (Kogan Page, July 2018) provides a thorough and instructive foundation for anyone looking to increase their enterprise’s rigor around risk. By acknowledging and discussing critical contextual issues such as global finance, international regulations, corporate culture, and natural human responses to risk, this book sets the reader up for success - and empowers them to proactively and positively navigate the inevitable uncertainty we all work in the midst of.

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