This week’s webinar notes are from a July 31^st 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.

“Great procurement professionals are not born, they are bred…"

- Dawn Evans, President and CEO, Sourcing Interests Group, July 2014 'Letter from the President'

I place a great deal of value in the fact that I have been able to work well and productively with all of the professional associations in our space. Each one is a little different and meets a specific need for a particular subset of the procurement professional community. I am not an active member of any professional association – including Sourcing Interests Group (SIG). My comments here have less to do with advocating for them in particular than being concerned about the resources available to the procurement community as a whole. I would have made the same argument on behalf of Spend Matters PRO or Procurement Leaders if they were the subject of some budgetary misclassification.

This week’s webinar notes are from a July 25^th webinar hosted by the Next Level Purchasing Association and presented by Santosh Nair, GEP’s Vice President of Client Services and Innovation. Although the on demand version is only available to NLPA premium members, you can read what they had to say about SMART by GEP in this recent blog post.

Despite the changes being seen in the consumer technology marketplace, enterprise solutions have been slow to take advantage of the growing availability of mobile technology. As demand increases for Smartphone and tablet solution accessibility, enterprise solutions in general, and procurement solutions in specific, will need to change at a rate faster than they have in the past.

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.

This is (probably) the last in what became an impromptu three-part series on The Point about the value of storytelling for procurement. Part 1 considered applications of the idea in general. In part 2, Dr. Tom DePaoli provided a real world example and some further guidance. The post that started it all, on Executive Presence by Chip Scholz, can be found here.

 Editor's note: on July 24th, I wrote a post 'On Storytelling and Procurement' in response to an executive leadership and communication post by Chip Scholz. Dr. Tom DePaoli, an author and managem...

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.

On July 22, Chip Scholz, Head Coach of Scholz and Associates, Inc. posted ‘Executive Presence: Stronger with Leadership Storytelling’ on his site.

 Supplier diversity programs have been a hot topic for some time now. While the need for minority-owned and diverse supplier programs at most companies has only recently begun to take shape, the ...

In a July 14^th 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.”

 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...

 As we prepare to celebrate the 4^th 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 many 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 4^th 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

On September 3^rd 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 29^th 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.

It is often challenging, sometimes nearly impossible, to gain access to real time market intelligence that can provide you with insight into your industry or supplier relationships. Without access to ...

This week’s webinar notes are from a May 21^st 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.

Editor's Note: On May 1st, Buyers Meeting Point issued an Open Call for predictions about the future of procurement as part of the #FutreBuy project I am working on with Jon Hansen (Procurement Insigh...

 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 ...

This week’s webinar notes are based on a May 13^th 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.