Earlier this month we ran a collaborative piece by Jeanette Jones (Cottrill Research) and I on the alleged manipulation of agricultural data in the chicken supply chain. You can read that post here.
Right after I started researching for the chicken story, I came across yet another great example of why we all have to be so cautious when we cite the source of a piece of information – only this time the main culprit is: PEPPA PIG.
And here we are, skidding into the summer season on two wheels. Don’t let that make you think that there aren’t any events worth attending, however. If anything, the break in the busy conference season until September opens up the calendar for webinars. Click on the title of each event below to view the full description in our events calendar and connect to the registration pages.
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 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.
“What pressures are coming to bear now, or in the foreseeable future, that may impact your supply chain and the ultimate sale of your products or services? Gathering market intelligence should include an understanding of what is happening in the economies of both your consumer’s as well as your supplier’s locations. This market intelligence can be used to both react to conditions and to take advantage of potential cost savings opportunities.”
--‘Understanding Market Pressures’ Managing Indirect Spend, Joe Payne and Bill Dorn
Gypsum was the first category I was asked to do research for – truthfully, it was very early in my career and I think my manager was trying to productively keep me busy. But the process was a good learning experience and I think I added real value to the team. For lack of a reason to pick any other product or service, I’ll start with gypsum here too.
Gypsum is used to make plaster and plasterboard – basically drywall. So if you are sourcing in the construction category, and your General Contractor is not responsible for materials costs/purchases, you might find yourself bidding this out.