Procurement professionals are instrumental to the success of organizations. They are accountable for innumerable initiatives ranging from solicitation to evaluation of suppliers plus everything that falls in between. Procurement has a significant impact on the organization as a whole – congealing its spot at the management roundtable.
Effective and efficient automation of Supply management and Procurement functions can yield fruitful results. Automation facilitates supply management and procurement professionals to make wise decisions through enhanced tools and visibility. It is definitely a reliable substitute for time consuming and costly manual tasks.
Procurement and sales are two vital business functions with varied processes that are often described as opposites. Some companies may find these two departments at odds with each other as they argue which one is more important for the vitality of the organization.
This week’s webinars present another interesting combinations that are likely to be top of mind for leading procurement professionals. If you’re looking for something really different, I invite you to join #TakeActionOctober – this is an initiative started by my colleague and good friend Phil Ideson (Art of Procurement). Every day he posts a 5 minute podcast that includes a great message and an “action challenge”. I did it all last week, and it really is an enjoyable way to spend a few minutes a day. If you’re interested, it isn’t too late to get caught up. The full list of #TakeAction micro-pods can be accessed here.
If you’re looking to plan your webinar schedule beyond this week, I recommend 'Integrating Supplier Risk Management into Your Procurement Processes' from SIG and SAPAriba on October 25th. In a rare webinar appearance, we’ll get to hear from Harold Good, Procurement Advisor, Futurist and Influencer for Procurement Pros Group LLC – although you probably know him better as @Hal_Good, Twitter influencer extraordinaire.
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.
Although there are only a few webinars taking place (again) this week, they are all high quality and on a compelling range of topics. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.
Special thanks to longtime BMP friend Charles Dominick, SPSM3 of theNext Level Purchasing Association for this guest post.
As a procurement professional, you need to be good at finding suppliers who work out as good or better than you predict. As a procurement leader, you need to be good at finding employees who work out as good or better than you predict. In this post, I’ll share some traditional and not so-traditional ways to find high-potential procurement talent.
It is my distinct belief that as corporate objectives become more general, functional silos dissipate, and millennial professional habits lead to increased talent rotation, the information and skills required by successful individuals and organizations will be broad in nature. Most of the books I review on an annual basis are procurement or supply chain related. That being said, competitive advantage is not discipline specific. In that spirit, I am actively pursuing opportunities to bring general thought leadership to Buyers Meeting Point. Starting… now!
The Industries of the Future, by former State Department Senior Advisor Alec Ross, is a compelling exploration of the conditions businesses and countries need to optimize in order to be successful in the decades to come. It borrows extensively from his time traveling the world in the federal government’s service, which means that his examples are unexpectedly diverse and shared in such a way that is only possible when the author has experienced something first-hand.
I recently read an op-ed piece on the Sourcing Journal by Sigi Osagie that stood apart from other procurement perspectives I’ve come across recently. It observed that soft issues — issues based upon the fundamental mindset of employees — are holding businesses back from realizing their full potential. Although procurement practitioners often have a desire to better their effectiveness, they do not always recognize that these soft issues are the answer to their desire for increased influence and prominence. So how can procurement improve in line with existing performance metrics without loosing perspective of the larger organizational perspective?
Just joining us? Last week we looked at performance reviews from a procurement manager’s perspective. This week we are looking at the same topic from the perspective of the person being reviewed.
You will likely have a performance review coming early in the New Year. Some people see performance reviews as “facing the music” while others see them as an opportunity to “toot their horn”. For the sake of your own career, I recommend thinking in terms of the latter.
Review time is an opportunity to display your accomplishments, demonstrate your capabilities, and discuss potential opportunities with your manager. At a higher level, this is also a good time for introspection to honestly access your future with the organization.