Jan 18-20: Top Finance Issues, Supplier Management Trends, Spend Category Outlook

Hello everyone – long time no speak! There have been very few events since mid-December, so I’m only now getting the weekly procurement event recommendations up and running. If you look at the calenda...
Continue reading
  1739 Hits

Making Category Management Possible with Enabling Technology

This content was made possible by a collaboration with the team at JAGGAER Category management is one of the many processes – like spend analysis, supplier performance management, and strategic sourci...
Continue reading
  1783 Hits

A Tough Talk: Identifying Dysfunction to Clear the Way for New Ideas

In 2015, MyPurchasingCenter talked to William Moore, Senior Vice President, Sales and Channel Development at SKF USA. Moore sees value in frank discussions between procurement and suppliers, especiall...
Continue reading
  1084 Hits

Recommended Webinars June 1-5: Managing Supplier Risk and Embracing Automation

As we turn the corner into June, the pace of even virtual events has slowed back to what I would expect to see in the summer months of a ‘normal’ year, which this decidedly is not. One sign of light at the end of the tunnel is this: I added a live event (yes, live – in person and with people in attendance) for November of 2020. Time will tell if that is going to hold and what it will look like, but it feels like a glimmer of hope all the same.

Continue reading
  2139 Hits

Recommended Webinars April 20-24: Ongoing Business Success, the post-COVID-19 world, and shaping the modern workforce

We have another strong week of events this week – in fact, you may have noticed that there are several webinar series being hosted in the industry right now. The events this week from Tealbook and Corcentric are part of series where you can register once and receive sign in information for the entire series.

If you are planning your schedule further ahead, I’d love to have you sign up to join me on an event next week hosted by Fairmarkit and also featuring Jill Robbins, Senior Director of Global Indirect Procurement at Elanco, and Erin McFarlane, Head of Strategy at Fairmarkit, Click here to register.

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.

Continue reading
  2345 Hits

The Secret of the Procurement Director

It had been a particularly hard week for the whole team. Factory audits had been going on with the accuracy of a Swiss watch (plane, factory, hotel, plane, factory, hotel...). That Friday night we were isolated by a storm that had canceled our flight home and left us stuck in an airport hotel, not knowing what day it was or when we would get back. Our ‘batteries’ were very low.

Only Avi, our expert sales agent, strengthened by a thousand negotiations, seemed to be fresh as a lettuce.

Around the crackling of the chimney, while the storm whipped outside, we all tried to shelter ourselves in hot cups of coffee, seeking the strength to recover our spirits.

Continue reading
  5746 Hits

Optimizing the Value of Trilateral Manufacturer Distributor Purchasing Relationships

When you just look at a purchase from a pricing perspective, it would be reasonable to think that purchasing products directly from the manufacturer be an effective way to reduce unnecessary overhead and markup costs.  While I generally find this to be true in practice, if it were that black and white the large number of distributors thriving in today’s markets would cease to exist.  Manufacturers and distributors each have strengths and weaknesses, but in a strategic purchasing landscape you do not always need to choose between the two. In fact, developing a balanced relationship with manufacturers AND distributors often proves to yield the most value, particularly with high volume purchases.

 

Continue reading
  5297 Hits

Displacing Incumbent Suppliers

You’ve invested a lot of time and money. You may even have staked your reputation on backing a supplier. So when is it time to replace them?

At a recent executive meeting, the subject of incumbent suppliers arose. The conversation reflected on both the personal and business investment that can occur when a supplier is selected, from a business stakeholder and a procurement perspective.

Continue reading
  5415 Hits

Are Suppliers Faceless Entities?

The term supplier is banded around with such ease, yet has it devalued the relationship and removed the individual, resulting in generic and stale business relationships? The supplier The associated b...
Continue reading
  5075 Hits

Book Review: The POD Model

Buyers and suppliers, they make the commercial world go round.

-        The POD Model, p. 1

 

The POD Model: The mutually-beneficial model for buyers and suppliers which enables an increase in profit through commercial collaboration by Michael Robertson strives to do something that we need a whole lot more of in procurement. It provides a framework for combining our philosophical objectives as collaborators and innovators with the inescapable need to measure our results.

Robertson looks at the messy reality of buyer supplier relations and breaks them down to a few major issues: cost, risk, flexibility, and incentives for mutual gain. He then looks to find a way to factor those into contracts in such a way that no one party benefits at the cost or loss of the other.

Continue reading
  5523 Hits

Best Procurement and Supply Chain Webinars 3/7-11

It’s a busy week in procurement with eight webinars on the calendar. I’m recommending two about intelligence and a third about the strategic positioning of suppliers. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

 

Continue reading
  4228 Hits

Best Procurement and Supply Chain Webinars 2/22 - 26

We have another ProcureCon event running this week – this time in Orlando, FL. For anyone not traveling to the Sunshine State, there are a full DOZEN webinars being held, half of which are on Thursday. I’ve recommended four below and provided my reasoning. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

 

Continue reading
  4264 Hits

Making the Case for a More Diverse Supply Chain Part II – Supplier Evaluation

In the first part of this two-part series, I established the reasoning behind establishing a diverse supply chain in the nontraditional sense. Emphasis on maintaining a supply chain that is diverse in geographical location, capabilities, and overall corporate values is vital in maintaining supply chain resiliency, sustainability, and adaptability.  To achieve a supplier mix that fits these goals, the right questions must be asked during an internal supplier rationalization process, overtaking the traditional values of an RFx.

 

Continue reading
  4919 Hits

Making the Case for a More Diverse Supply Chain

Supplier diversity is a concept with multiple definitions.  Most commonly, a supplier diversity program focuses on the utilization of women owned, minority owned, and else certified diverse businesses within your supply base.  There is, however, another interpretation of supplier diversity – a diversity of geographical location, sourcing practices, and overall organizational structure.  Evaluating these factors in a meaningful way when evaluating suppliers can be an important factor in managing supply chain resiliency, sustainability, and adaptability.

Continue reading
  4932 Hits

How to Successfully Break-Up With Your Incumbent Supplier

Anyone who has ever completed a Request for Proposal (RFP) has had the unfortunate experience of informing all but one or two suppliers they have not been awarded the business.  It may be difficult and at times uncomfortable, but when the unchosen supplier is the incumbent, there is more to manage than just this conversation.  How this transition process is handled can either help or hinder the success of moving to a new supplier relationship. There are a few steps you can take to smooth the transition and ensure all parties are as satisfied as possible.

Continue reading
Recent Comments
Guest — Alun@marketdojo
Great article. We have found that far too many eAuction negotiations end up with the incumbent even though they dont end up in fir... Read More
Thursday, 10 December 2015 04:32
  7602 Hits

Best Procurement and Supply Chain Webinars 10/19 – 10/23: Social Media, the Digital Pivot, and Supplier Centricity

This week is ridiculously busy – there are 15 webinars taking place: five on Tuesday, one on Wednesday, and NINE on Thursday. Given the wide range of choices, it wasn’t easy to pick the best ones, but my recommendations are below. Click on the title of each event below to view the full description in our events calendar and to connect to their registration pages.

Continue reading
  5611 Hits

Guest Post on Design News: Should Approved Vendor Lists Be More in Line with Design Cycles?

According to joint research done by Design News and Exploration and Insights in 2014, 67% of companies have design cycles of 3-12 months. The remaining 33% of survey participants are almost evenly divided between design cycles requiring longer than a year and those taking less than three months. Regardless of their length, we can be sure all of those teams are looking for ways to shorten them, without sacrificing quality or functionality, so that they can be first to market and get the greater share of customers.

CLICK HERE TO READ THIS POST ON DESIGN NEWS

While the need to speed up design cycles is top of mind today, it is not a new initiative. In fact, 20 years ago, Design News published what you might call a “multi-generational design engineering retrospective.” As stated in “Engineering Megatrends,” published on Aug. 28, 1995, “Since the first caveman decided to capitalize on his best idea for a new club, businesses have operated on the principle that the first to get to market owns the market — at least for awhile.” With increased competition from all corners of the globe, and the nearly universal consumer fascination with having the latest, most innovative products, cutting time to market is now a critical element of competitive advantage.”

Despite this pervasive emphasis on “faster, sooner, better,” the same organizations that have multiple design cycles a year only update their approved vendor lists (AVLs) on an annual basis.

Continue reading
  5358 Hits

The Good, the Bad, and the Ugly of the CEO Pay Ratio

In August the SEC adopted a measure that will require public companies to publish a CEO pay ratio in their financial statements. The ratio, which compares median worker pay to the CEO’s salary, is a provision of the 2010 Dodd-Frank act and it takes effect in January 2017.

Some of the early, albeit unofficial, CEO pay ratios seem to demonstrate an enormous pay disparity between the leadership and workers in a company. In other cases, it calls attention to CEOs with strikingly low compensation for the position they hold. For instance, Apple’s Tim Cook has a CEO pay ratio of 43:1, Ford’s Alan Mulally has a 113:1, and Goodyear’s Richard Kramer has a whopping 323:1 ratio. IBM and Intel have ratios of 25:1 and 30:1 respectively.

Any time procurement is evaluating a publicly traded company, we naturally make use of their financial statements and annual reports, which are valuable sources of information. But is this new ratio relevant to the evaluation of a supplier for financial stability, risk, and collaborative potential? Should procurement take this information into consideration when ranking and selecting suppliers?

Continue reading
  5224 Hits

Procurement Perspectives Podcast: Trusting Internal Team Members and What That Should Teach Us About Supplier Partnerships

This week our audio comes from Acquire Procurement Services, a consultancy based in Australia specializing in establishing and re-negotiating contracts across sectors. Their video is titled 'Why do we treat employees and suppliers differently?' and is available on their YouTube channel. In it, they draw a contrast between the information companies share with their employees and how they handle sharing with suppliers who might perform the same or similar functions on their behalf.

You can listen to the podcast on the PI Window on Business Blog Talk Radio channel or on our Sound Cloud page.

 

Continue reading
  4894 Hits

Guest Post on the Social Contracting Blog: Contract Management: Yours, Mine, and Ours

In his recent book Global Supply Chain Ecosystems, Mark Millar wrote, "…today's supply chains encompass complex webs of interdependencies, frequently spanning the globe, designed and deployed to optim...
Continue reading
  3693 Hits

© Buyers Meeting Point. All rights reserved.