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Buyers Meeting Point is home to two blogs: The Point is written by BMP's Kelly Barner and a diverse group of guest contributors. MyPurchasingCenter was acquired by BMP in 2020 we now showcase their content archive on BMP.

Recommended Procurement Webinars June 29 – July 3: Redefining Jobs, Quality of Influence, Data Categorization

In addition to the events listed below, this week also marks the release of the ISM-New York Report on Business and other major economic reports. Obviously, we are all watching them closely as they provide yet another month’s worth of insight into the global economy and recovery from the COVID-19 pandemic.

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Recommended Webinars April 13-17: Third Party Health, Growing Great Companies, and the Best Approach to Data Analytics

If you want to attend a webinar about COVID-19, you have plenty to choose from. The reality is, every webinar about every topic is being either officially or unofficially reworked to reflect the world's short-term focus on the pandemic or longer-term projections about what may come next.

A word of caution about predictions: consider your own ‘visibility horizon’. How far into the future can you look and say with any level of certainty what will happen? Don’t assume that, just because someone seems authoritative, they have more information than you do. Take in all of the quality information you can, and then make your decisions locally.

If you are planning your schedule further ahead, another weekly webinar series just hit the calendar. Corcentric will host a webinar each Thursday for the next three weeks (starting on April 16th) focused on Navigating During Disruption.

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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Recommended Webinars April 6-10: Quarantining 3rd Parties, the New State of Everything, and Your COVID-19 Procurement Response

I’m continuing to add new webinars to the calendar at a blazing fast pace. Over a dozen new events hit this week, quickly filling in what had previously looked like a rather bleak April. I’ve also noticed a shift away from the 2pm ET time slot and towards something that overlaps with a WHF ‘lunchbreak’.

If you are planning your schedule further ahead, I recommend checking out the weekly webinar series from Tealbook. Every Wednesday at 12n ET, they are holding a 30-minute webinar on the supplier data crisis now through May 13th. Each webinar will feature a thought leader like Chris Sawchuck, Walter Charles, or Tim Herrod.

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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Recommended Webinars February 24-28: Beyond Benchmarking, Global Risk, and The Decade of Data

This week started out looking kind of bleak, and then at the last minute there were several excellent additions to the events calendar. I’ve recommended what I see as the best below, but you can look at the full calendar to see what else is scheduled this week and into March.

If you are planning your webinar schedule further ahead, I recommend “Top 10 Supply Chain Risk Trends in 2020 – The Big Reveal” from Supply Chain Now and Resilience360 on March 5th at 11am ET.

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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Providing Real Value in Data Analysis

Data analysis has an image problem. Despite the fact that data collection is priority one, regardless of how common “big data” buzzwords have gotten, and setting aside all the calls for data-centric decision making… The boots on the ground, those of us who manage this analysis daily, have a problem.

Too many analysts are viewed as tactical cogs in a machine. We aren’t brought in to own and manage projects. We aren’t consulted on big ticket company objectives beyond the reports we’re asked to push out. Why? Because we aren’t doing enough to show value. 

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Recommended Webinars November 18-22: Procurement Vision, Digital Readiness and Next Level Contract Management

The pace of the year will really pick up from here… I won’t have any recommendations next week because of the Thanksgiving holiday in the US, and then there are just three weeks of events left in the year. December is starting to fill in, so take a look ahead – there are some great events up already.

In particular, I recommend “The Psychology of Change” being hosted by The Myers-Briggs organization on December 5th. While it isn’t specifically for a procurement audience, it is a great opportunity to think about change management from a group and individual personality perspective.

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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Empowering Procurement to Drive M&A Activity

The uncertainty surrounding Mergers and Acquisitions (M&A) can be frightening for all employees involved, but often overlooked is the potential a merger can bring for procurement to hit the “RESET” button – both with their internal procedures and with their suppliers. With common M&A buzzwords like “increasing shareholder value” and “synergies” thrown around by management, procurement is provided with an abundance of short term cost-saving opportunities.

In this post, I’ll outline the steps, tips, and strategies procurement can use to generate cost savings during M&A activity and boost that ever sought after shareholder value.

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The Material Cost Benefits of Full Workforce Visibility

Between the new technologies available and the tidal wave of talented individuals with people analytics experience, companies can now see their entire workforce in new and exciting ways. But while most organizations recognize the benefits of full workforce visibility, their efforts stall when those that need it can’t clearly articulate the benefits to company leaders and decision-makers.

While there are a number of ancillary benefits of full workforce visibility (e.g. worker quality improvements, access to talent, vendor performance comparisons) this article focuses on the different ways an organization can leverage new levels of visibility to drive cost savings.

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Setting the Foundation: Preparing Spend Data for a Procurement Metrics Program

Metrics are a critical aspect of measuring the success of any business function. The importance of quantifying progress against goals and objectives cannot be overstated. Without a metrics program, underperforming organizations are unable to target functional areas that require improvement, and growing organizations are unable to set goals or scale resources to align with the changing state.

Because procurement organizations are often challenged by stakeholder resistance and a lack of executive-level sponsorship, metrics are key to demonstrating value. Sourcing efficiencies, cost savings, stakeholder satisfaction, and overall procurement ROI are just the starting point for capturing bottom line impact. While these are often viewed as the foundation for a metrics program, the final structure can’t be established without being certain of data quality and availability.

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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.

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Blockchain: Disrupting Procurement and the Supply Chain

If you have heard a lot about blockchain but don't really know what it is, you're not alone. The success of Bitcoin and other cryptocurrencies has given blockchain a major leap forward. But cryptocurrencies aren't the only place where blockchain technology makes itself useful. It can completely disrupt procurement and supply chain operations. First, however, it's important to have a bird's eye view of blockchain.

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Recommended Procurement Webinars for Jan 23-27: Cash Flow, Data Speed, 2017 Trends and Predictions

There are a dozen events taking place this week – many of which seem to have been planned to incorporate a big picture vision for the new year. The really amazing thing is that even with so many webinars taking place, there is very little topical overlap. Scan the titles of this week’s webinars and you’ll have an appreciation of the full range of subjects touched on by procurement on a regular basis. Click on the title of each webinar below to view the full description and 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.

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