How can you be a good negotiator if you have not read the contract?

That’s the question Attorney Mark Grieco asked procurement and supply management professionals attending a member meeting of ISM-Greater Rhode Island at Banneker Industries in North Smithfield.

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Recommended Procurement Webinars April 8-12: #ISM2019, Digital S2P and World Class Supply Chain Management

In addition to the virtual events recommended below, this week also brings us ISM’s annual conference in Houston, TX. If you are going, make sure to go see my good friend Rod Sherkin (President of ProPurchaser). He’s presenting in the Challenges track on Tuesday morning at 10am: Cost Transparency– Catalyst for Achieving Negotiating Goals.

If you are planning your webinar schedule beyond this week, I recommend either ‘Supply Chain Tech Update: Drones & IoT’ from Supply Chain Now Radio, Talent Stream, and APICS Atlanta on April 26th at 12n ET or the next session of AoP Live: Automate Procurement Without Spending a Dime: Harness the Power of Group Purchasing on April 25th at 2pm ET from Art of Procurement and UNA GPO.

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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The February ISM-New York Report on Business: Moderate Ups and Downs

The February ISM-New York Report on Business was released on March 4th at 9:45am Eastern and is available for download here. Please see the end of this commentary for additional information on the ISM-New York Report on Business.

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What would you do? Risk management: weather-related supply chain disruptions

In August 2017, Hurricane Harvey struck a significant blow to the Houston, Texas metro area, home to the sixth largest import terminal in the world as well as all of the shipping lanes in the Gulf Coast area. Given the strong economic linkages between the Gulf Coast and the country as a whole, Harvey impacted the U.S. economy far beyond the local region.

Supply management professionals were on the front lines of the economic side of this environmental disaster. Imagine yourself as one of them: your facility and/or your suppliers’ facilities are in the hurricane’s path. Damage is done during the storm, and you will have to deal with the after-effects, including ongoing impacts on transportation and labor. How do you prepare for the unexpected? How will you cope with the aftermath? What do you do? 

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What would you do? Increasing the alignment of multi-functional negotiations

Picture this: your organization needs to create a multi-year contract covering critical components for its manufacturing process. Because of the technical nature of those components, management requests that the team creating the contract be led by procurement but also include engineering, R&D, and finance. Each of the people involved will have different priorities, even though all agree on what they want the end result to be. How do you present a united front at the negotiation table?

What would you do?

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Procurement and SMB Suppliers: Corporate Labradoodle?

In a new effort, announced this week at ISM2016, ThomasNet is looking to put their considerable weight behind one of the trickiest cross-products in all of supply management – the attempt to align demand from corporate procurement and with the innovation and agility of small suppliers. In advance of their announcement, I interviewed Ed Edwards, Manager of Audience Outreach, and Travis Sherbine, Vice President of Marketing and Product Management, from ThomasNet about the realities of making a formal SMB program work.

Let’s face it, there is something unnatural about the fit between big (or even medium sized) corporate procurement and small businesses (hence my labradoodle reference above). But, just like lovable, low-shed labradoodles, there is huge upside for procurement AND small suppliers if they can invest the additional effort required to make their interaction a success.

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Webinar Recommendations for July 27 - 31, 2015: Digital marketing spend, Selecting a spend analysis solution, and Early engagement in sourcing projects

With eight events in three days, webinar hosts must see this as a week that most people are back in the office from early July vacations. Click on the title of each event below to view the full description in our events calendar and connect to their registration pages.

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Procurement Perspectives Podcast: Hear from the 30 Under 30 Supply Chain Stars

This week our audio comes from the ThomasNet and ISM 30 Under 30 Supply Chain Rising Stars program. They hosted a panel-style interview and discussion with some of the 2014 award recipients at this ye...
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Webinar Notes: Mitigating Risks and Impact of Sanctions Regimes on Your Supply Chain

This week’s webinar notes are from an April 9th webinar hosted by ISM and presented by Mark Dunn, Lexis Nexis’ Due Diligence Segment Leader for Risk and Compliance. ISM’s previous web seminars are listed on the lower portion of this page on their website.

 

This event, titled “Mitigating Risks and Impact of Sanctions Regimes on Your Supply Chain,” specifically addressed risks that are outside of the norm for most supply chain and procurement professionals: money laundering, bribery, corruption, and diplomatic or economic sanctions. The sanctions, which might be in place as the result of violating international law or human rights violations, can be established against countries, organizations, companies, individuals – even specific vessels. The measures against these entities may be restrictive or coercive in nature.

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Webinar Notes: Big Data, Big Impact on Procurement

This week’s webinar notes are from a January 13th event run by ISM and presented by IBM. It is available on demand on ISM’s website. The presenter was Steve Peterson from the IBM Institute for Business Value, and he spoke about the findings of their 2014 CPO Study, the results of which were released by IBM in December. The focus of the study was on procurement role models – or leaders – and what they are doing differently than the rest of the pack. There were three ideas that appealed to me as new ‘angles’ on familiar problems presented in this event.

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Webinar Notes: Risk Management as a Team Sport: Who Are the Players and What's Your Game Plan?

This week’s webinar notes are from a July 31st event hosted by ISM and presented by LexisNexis. The event is available on demand on ISM’s site. If you are interested in more on the topic, LexisNexis has made available a white paper and accompanying infographic titled “Leveraging Market Intelligence to Better Manage Supply Chain Risk.

The presenter, Eric Walsworth, LexisNexis’ Director of Supply Management, illustrated each of his points about risk management by drawing comparisons to the 2014 World Cup in Brazil. I won’t embarrass myself by trying to recreate any of that – if you’re interested in the soccer angle you’ll have to watch the webinar on demand.

Walsworth took a need – risk management - that is overwhelming for many procurement teams and broke it down into very clear phases and efforts. Although each of these elements is important to a supply risk management effort, they must all work together in order to be effective. Additionally, although the following seem to be a linear process, they must all be executed in parallel.

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Don't Overlook the Procurement “Middle Child”

The entire professional community, procurement included, is bracing for the impact of the Millennial generation. Managers and executives want to position their company or department as a team that will appeal to the brightest, best upcoming achievers. ISM and ThomasNet recently joined forces specifically for the purpose of gathering nominations for their ’30 Under 30’ Supply Chain Rising Stars program. Corporate leadership teams are concerned about being flexible enough, mobile enough, and ‘sexy’ enough to compete for young talent. Professional associations are scrambling to make sure they demonstrate their relevance on an ongoing basis.

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Recent Comments
Guest — William Ng
Very interesting perspective on the age gap, Kelly. Nice post. William Ng Editor ThomasNet News
Thursday, 07 August 2014 09:58
Guest — Bill Kohnen
Certainly the new technology and change to new work organizations and approach can be intimidating. However, the "middle children... Read More
Thursday, 07 August 2014 12:23
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Webinar Notes: Five Steps To Eliminate Maverick Spending

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.

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Webinar Notes: Procurement in the Age of Big Data: Actionable Global Insights

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.

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Webinar Notes: Leveraging Information to Develop Sound Risk Management Strategies

This week’s webinar notes are from a November 7th event hosted by ISM and presented by IASTA and LexisNexis. The full details of the event can be seen on ISM’s site.

Any company that has implemented a spend analysis solution knows first hand the difference between data and intelligence. IASTA and LexisNexis did an excellent job laying out a framework for bridging that gap in Supply Market Intelligence (SMI). Many SMI programs have grown out of the need to get better risk mitigation from supplier performance management programs already in place. The highest priority risk categories include supply chain continuity, cost, and reputation – the implications of which hit both revenues and stock returns.

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Webinar Notes: Maximize Cost Savings Through Analytics

This week’s webinar notes are from an event hosted by ISM on October 15, 2013. ‘Maximize Cost Savings Through Analytics’ was presented by James Anthony, President of Enrich, an Oracle Platinum Partner and the result of a merger between e-Three and enrich IT. The webinar is available on demand on ISM’s site.

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Webinar Notes: Designing a Procurement Transformation Program for Best-in-Class Performance

This week’s featured webinar was a joint effort between ISM, Zycus, and Ardent Partners. It was presented in advance of a two part research series that will be published later this month. The research was “designed to help procurement organizations develop a transformation "blueprint" — a holistic view of the source-to-settle process and the underlying architecture required to support sustainable business process improvement.” (ISM event description).

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Webinar Notes: Going Deeper and Broader for Borderless Procurement

This week’s featured webinar was hosted by ISM and presented by Chris Sawchuk, Principal and Global Procurement Advisory Practice Leader at The Hackett Group. In ‘Key Procurement Issues in 2013: Going Deeper and Broader for Borderless Procurement’ we heard the application of Hackett’s ‘Borderless Business’ concept to the world of procurement, focusing on the priorities being set by leading organizations for performance and capability building.

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Webinar Notes: Doing More with Less in Procurement

This week’s featured webinar was hosted by ISM, sponsored by Hubwoo and presented by Spend Matters. ‘Doing More with Less in Procurement: a punch list of 25 items to improve your productivity’ was based on a snap poll taken to help participants benchmark themselves relative to their peers in this area. As you might expect, prioritization is key, and we will hear more in the ongoing discussion of tactical versus strategic efforts and how to keep the machine cranking efficiently.

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Webinar Notes: The New Rules of Supply Management

The week’s featured events is ‘The New Rules of Supply Management’ hosted by ISM and presented by Ardent Partners and Ariba, with a client case study from SunTrust Bank woven in.

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