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Disruptive Financial Innovation is the Result of Courageous Ingenuity (Palgrave)

Posted on the Palgrave blog on April 16, 2018

It takes a great degree of courage to move away from legacy conventions, whether they are processes, technologies, performance expectations, or role definitions. As human beings, we are hard wired to be apprehensive about change. Combine us into large groups – like a modern enterprise for instance – and it only seems to increase the strength with which we cling to ‘safe’ traditional approaches.

Unfortunately, the instincts that have preserved our species to the current age are the same ones that threaten the longevity and relevance of companies all over the globe every single day.

We are taught today that the right way to overcome this challenge is to innovate, trying new methods, products, ideas, etc. “Change is change! We need change!” your team may say. “We are doing something different! Mission accomplished!” The problem with this is that so much of the company’s energy goes into escaping the inertia of their preservation instincts that we don’t allocate enough brainpower to studying the changes we intend to implement.

Are we driving the right change? What do we need to accomplish? Are we thinking big enough? Answering these questions requires more than just change; it requires courage and ingenuity.

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Balanced Perspectives on Small Suppliers’ Smallness (ATSC Blog)

Posted on the ATSC blog on April 16, 2018

Some procurement and supply chain trends are so pervasive that it is easy to stop questioning the logic behind them. The benefits associated with small suppliers is a perfect example. It is almost a ‘tit for tat’ exchange in favor of working with small suppliers at this point…

Q: Why do we work with small suppliers?

A: They are more innovative than larger suppliers.

Conversation over. Right? Wrong.

Your greatest strength is also your greatest weakness. For small suppliers, their size is an opportunity as well as a constraint. While neither the opportunity nor the constraint is a reason for or against working with small suppliers, both are concerns that procurement needs to be well aware of before signing a contract.

Click here to read the rest of the article.

3 Ways to Keep up with the Social Media Joneses (Procurious)

Posted on the Procurious Blog on April 10, 2018

We all know one… that person in your network that not only mysteriously has the time to think, read, discuss and be oh-so-intellectual about the day’s leading topics, they also broadcast that fact everywhere. Here are some sample ‘shares’ to give you an idea:

“Really enjoyed this article the third time I read it in this week’s issue of the Economist”

“Back from our week-long innovation retreat / chakra cleansing with a revised vision for procurement”

“Pleased to share volume 4 of my treatise: ‘Reflections on the Meaning of Corporate Procurement’”

Honestly. Don’t these people have real jobs? After reading status updates like these, it’s hard not to feel horribly overwhelmed. Let’s face it – the rest of us are scrambling from top priority to top priority. We’re trying to cover the fundamentals while also finding the time to look for opportunities to create additional value.

Click here to read the rest of the post.

Updates to ProcureSearch Include Supplier Risk, Category Intel, Professional Development

ProcureSearch, the free, open-access market intelligence resource hub, has just been updated to include new resources in several categories. To read the full ProcureSearch description of each, click here.

Jeanette Jones (Cottrill Research) and Kelly Barner (Buyers Meeting Point), the authors of Supply Market Intelligence for Procurement Professionals, are continually building on the content presented in ProcureSearch. The new listings identify and update selected resources for key direct and indirect spend categories, along with supplier and geopolitical risk discovery, due diligence, and monitoring sources. 

 

Supplier Diligence and Risk

  • Dow Jones Risk and Compliance/Factiva
  • Opus Global
  • The Red Flag Group

 

Category Intelligence

  • Beroe LIVE
  • Crunchbase
  • The Smart Cube

 

Professional Development

  • National Association of Educational Procurement (NAEP)
  • Universal Public Procurement Certification Council (UPPCC)

 

 

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