This week’s webinar notes are from a July 23 webinar hosted by ISM Vermont and presented by Verian Vice President Tommy Benston on ‘Five Steps To Eliminate Maverick Spending.’ Although an on demand version was not available as of the posting of my notes, it will be available on Verian’s site shortly.
The Point by Buyers Meeting Point
One of the interesting things about consistently reading and hearing content from quality sources is that you start to notice trends. It is amazing how often the same topics arise at the same time in different places. We use this blog as a way to help you stay on top of the major themes in procurement and supply chain management.
Kelly is the Managing Editor of Buyers Meeting Point. She has a unique perspective on procurement from her experience on both sides of the negotiation desk. She has led projects involving members of procurement, supplier and purchasing teams. She has practical skills in strategic sourcing program design and management, opportunity assessment, knowledge management, and custom taxonomy design and implementation. She also has direct sourcing experience in a number of product and service categories including: inventory fuel, location-based services, corrugated, and corporate purchasing cards. Kelly has her MBA as well as an MS in Library and Information Science.
In a July 14th article on NewsDay, NYASHA CHIZU asked ‘Is Procurement an Art or a Science?’
In the article, he makes the following statement:
“There is definitely an art to good procurement but on the other hand, taking a scientific approach to options analysis, requirements development and the procurement evaluation process can facilitate a more successful procurement project.”
This week’s webinar notes are from a recent Procurement Leaders webinar on ‘Turning Data into a Business Case for Procurement.’ The webinar is available on demand here thanks to Rosslyn Analytics, and you can hear an excerpt of the webinar in my July 14th Blog Talk Radio update here.
Supply Chain Risk, by John Manners-Bell, provides a structured look at risk by establishing a series of intersecting dimensions. First the author outlines external risk categories: Environmental, Economic, Societal, Security, and Technological. Each has several sub categories that provide additional detail and clarity. Then he delves into a number of industry sectors to consider their resiliency factors and concerns: Automotive, High tech, Consumer goods/retail, Food, Fashion, and Pharma/healthcare.
The coverage from both perspectives is equally detailed and illustrated with numerous case studies. In their intersection, for instance where Economic risks intersect with the Automotive industry, any supply chain professional will find the information they need to quickly come up to speed on key areas of concern as well as strategies for assessment and mitigation.
As we prepare to celebrate the 4th of July in the United States, we have a lot to be grateful for. We are grateful for the simple things like peak of summer traditions: fireworks, grilling, and parades. We are also grateful that in the 238 years since the Declaration of Independence was signed our relationship with Britain has improved. We’d be awfully sorry not to be able to work with our British colleagues and partners.
All that being said, is the 4th of July a reason to be grateful for procurement? Absolutely. Procurement played more of a role in the American Revolutionary War than most people probably realize.
In September 2011, Wal-Mart announced a plan to spend $20B with woman-owned businesses by 2016. More recently, they expanded their Women’s Economic Empowerment program to include a ‘women-owned’ labeling program. Products that meet company ownership requirements will start appearing on Wal-Mart shelves this September1. Qualified companies can apply to be a part of the program through WBENC and WEConnect International.
Despite the company’s apparent good intentions, the program has not been warmly received by all, including some critics who feel calling additional attention to these products simply because of female company ownership does little to advance equality. As one commenter posted in response to a BusinessWeek article on the program, “The path to gender equality does not involve stickers pointing out that a product has been made by a female entrepreneur.”2
In the fall of 2013, Stephen Ashcroft, a specialist in procurement risk at Brian Farrington, wrote a post for Supply Management about the fact that procurement practitioners have been hesitant to embrace social media in general, and twitter more specifically.
On September 3rd of last year, Jeanette Jones, Owner and Founder of Cottrill Research, suggested (out of the blue!) that she and I co-author a book. There was never any question of whether or not I would do it. I’ve always wanted to write a book. I enjoy doing research and I have been fascinated with procurement ever since I ‘fell into’ the profession in 2003. Jeanette’s suggestion that we write a book to help procurement professionals create their own supply market intelligence combined all three.
This week’s webinar notes are based on a May 29th panel webinar hosted by Proxima. The event is available on demand for free after an email registration here. In addition, anyone interested in the webinar should also read a recent HBR.com article discussing the four fundamental reasons why ‘Leaders Can No Longer Afford to Downplay Procurement,’ by Matthew Eatough, Proxima’s CEO.
This week’s webinar notes are from a May 21st event presented by ISM and Zycus, with main speaker Rob Handfield, a Distinguished Professor of Supply Chain Management at North Carolina State University and Director of the Supply Chain Resource Cooperative. The event is available on demand on the ISM website.
Can China Lead?
Reaching the Limits of Power and Growth
Can China Lead?, by Regina M. Abrami, William Kirby, and F. Warren McFarlan, asks a question that can not be definitively answered but is well worth asking. The authors seamlessly combine their knowledge of China’s history, people, and politics to advise companies looking to engage in commercial interactions with one the world’s second largest economy (As ranked by GDP by the United Nations, 2012). As the authors state in their Introduction, “Chinese businesses compete globally, now going head-to-head with North American and European corporations in telecommunications, heavy machinery, and renewable forms of energy.” (p. x)
This week’s webinar notes are based on a May 13th webinar presented by IASTA and Efficio, their European consulting partner. The event was recorded, and the on demand version is available on Slideshare. You can also download the presentation itself, which included quite a bit of data, directly from IASTA’s website.
It is not unusual for me to get an email from a colleague asking me to read an article or post and then share my two cents. It is unusual that following through on such a request would take me on the wild ride that it did this week.
Let me retrace the steps – starting at the very beginning…
Negotiation for Purchasing Professionals is the second book by Jonathan O’Brien that we have reviewed. Earlier this year we reviewed Category Management in Purchasing. While each of the books has a different focus, they have more in common than just an intended audience. The most striking similarity is a clear desire to improve the knowledge and capabilities of purchasing professionals by capturing O’Brien’s considerable experience and communicating it in a straightforward manner.
This week’s webinar notes are from a Sourcing Interests Group webinar on Change Management Done Right. In this webinar, two speakers from Jones Lang Lasalle (Michael Jordan, Leila Lance) and the Former Head Sustainability for KeyBank (Jessica White) will discuss how KeyBank used change management practices to develop and implement a robust sustainability program.
Buying and Selling Information, by career salesperson Michael L. Gruenberg, is a guide to help buyers of information services (think subscription-based online databases). Beyond this very specific case, Gruenberg has good advice to offer buyers and sellers of any product or service. He is a salesperson who ‘gets it’ – or understands the need for buyers and sellers to work together for their mutual benefit, and for the benefit of their organizations. In his own words, “It’s all about equal footing, momentum, and success” (xviii).
The best way to predict the future is to create it.
- Peter Drucker
If we knew what the future held for procurement, we would undoubtedly change some of what we are doing today. Since is it impossible for any of us to be certain about the future, our best option is to form a vision for what we hope the future will hold and align our initiatives to that vision.
“Any customer can have a car painted any colour that he wants so long as it is black.”
-- Henry Ford about the Model T Ford (My Life and Work (1922), p. 71)
This week’s featured webinar notes are from an April 16th webinar presented by ivalua with guest speakers from Spend Matters and HAVI Global Solutions. The event is available on demand here
One of the best things about having good relationships with publishers is that I end up reading and reviewing titles that range beyond procurement or spend management. And yet, there is no question that the value and competitive advantage of a well-managed supply chain runs right through the center of all business strategy books.