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The ‘Why’ Behind the Drive for Retail Process Efficiency (Procurious)

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Posted on the Procurious Blog on January 24, 2018

As we expand the impact of procurement beyond savings, one of the most frequently cited objectives is process efficiency. In theory, if procurement can help the company execute internal processes more swiftly they can… something, something, something (?). Process efficiency is good, and savings are good. But neither will have any real impact if we don’t understand why we are driving them.

The retail industry is a perfect case example for the need to understand the big picture impact of process efficiency. When you work for a B2C company, customer satisfaction is the answer to every question. In retail, the benefit of every project must be traceable all the way to the store.

The wholesale goal of retail: customer experience and satisfaction

Sourcing project teams usually sit down and articulate their goals and objectives at the outset of the process. Too often they are focused on the impact of the product or service on the company and its employees when they should trace that efficiency forward to the value it creates for customers. This perspective provides the context for many of the decisions made during the sourcing process.

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Removing Obstacles to Competitiveness with CLM (Determine)

Posted on the Determine blog on January 23, 2018

When you think about why a company would invest in a contract lifecycle management (CLM) solution, the first things that come to mind might include improved governance and agreement administration. But is that it? If the ROI of CLM is limited to better dotted I’s and more neatly crossed T’s, the effort to select and implement a solution hardly seems worth it.

Companies that view CLM as an automated filing cabinet are completely missing the point. They may even be at risk of having a constrained strategic vision for the future and for the place they want to hold in the market.

In order to create and defend a competitive advantage, a company must lean forward with every process, through every employee, and via every system they implement. There is no reason to do anything if it does not breakdown silos, overcome barriers and make them more competitive in some way, and contract management is no exception. CLM must eliminate obstacles to competitiveness and be as strategic as the company’s approaches to market segmentation and lead generation.

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Taking on the “Simplicity Challenge” (Art of Procurement)

Simple is Not the Same as Easy

Posted on The Art of Procurement on January 19, 2018

At first glance, the January 13th Saturday Essay in the Wall Street Journal (How to Succeed in Business? Do Less by Morten T. Hansen’s (subscription/behind the paywall) seemed like a typical New Year’s piece: advice on how to simplify in the New Year.

The title caught my eye because it was exactly what I wanted to hear. I’m sure I’m not alone in feeling overworked and spread too thin. I would love an opportunity to ‘simplify’ without swallowing a heavy dose of guilt.

Mr. Hansen’s professional focus is to uncover what makes it possible for top performers to shine. His WSJ essay is adapted from his upcoming book ‘Great at Work: How Top Performers Do Less, Work Better, and Achieve More’ (Simon & Schuster, Jan. 30) and is based on a five-year survey of 5,000 managers and employees.

The simple answer to my struggles with feeling overwhelmed while trying to produce top results, as you might guess, is to focus more of my attention on less tasks and knock each one out of the park.

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New Whitepaper for Download: Intelligence Driven Category Sourcing

AdobeStock proactivesourcing

Time is the most precious commodity in modern business. Companies that take the time to lay plans in anticipation of their own future needs are positioned to operate efficiently amid changing circumstances and meet the expectations of customers and shareholders.

From a procurement perspective, taking a proactive stance requires detailed, preemptive knowledge of the supply base – including incumbent as well as prospective new suppliers. Having this information at the ready increases the speed and agility of business decision-making, especially when the company is expanding into new markets or verticals. Historically, however, supplier discovery has been conducted in response to the identification of a need, leaving the business waiting in a time of intended growth because the sourcing process can not move forward until supplier discovery and pre-qualification are complete. This makes the identification of qualified supply partners a roadblock to progress when it should be an accelerator.

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