It has become increasingly common to hear about technological disruptions. Every day there is a new tool, software, methodology or someone trying to do something different. And this is excellent! Tech...
When SMBs launch, they tend to have informal procurement processes. This informality might work with four to five employees and a handful of customers, but it simply isn’t practical for a growing busi...
What is procurement data? Procurement data includes vendor data, master data, contract data, bills of material, performance data, sustainability score cards, transaction data, purchase order details, ...
Data democratization is making digital information accessible to wider audience so that the data is available, accessible, and understandable. Democratized data is accessible in a timely manner and un...
Procurement organizations employ spend analytics as one of their major tools for proactively identifying savings possibilities, managing risks, and maximizing their purchasing power. Spend analys...
The Chemical industry has two unique characteristics. It has the most diversified end-use markets across all manufacturing industries, and its biggest customer is the Chemical industry itself (27%). S...
Procurement is a significant business function, having operational and commercial impacts on multiple departments. Although procurement process excellence and strategic sourcing initiatives can drive ...
Author: Joe Payne, SVP Source-to-Pay at Corcentric Editor’s note: This article is part of the MyPurchasingCenter content archive. It was originally published in 2015 and appears here with minor t...
Companies spend millions developing and implementing new technology and processes to enable more effective MRO supply chain management practices. The goal is to better manage the flow of spare parts w...
The year 2020 witnessed a global Covid pandemic and the biggest GDP reduction since the Great Depression of 1929. Of course, Chemicals & Plastics (C&P) have also been affected globally, but there is no public data available yet for the year.
Today, most supply chain and procurement software solutions rely on value added resellers as part of their go to market strategy. ‘Resellers.’ as the name suggests, act as the sales, solutioning, impl...
One of the aspects of ever-growing experience is the sorrow of knowledge. In times of economic turbulence, procurement could be dragged into a cycle of faulty practices that starts well before the cri...
My first recommendation on Emotional Intelligence is for procurement and supply chain professionals to benchmark their own personal emotional intelligence aptitude. I used the book Emotional Intellige...
Procurement and supply chain professionals must be aware of and strive to improve their emotional intelligence. It has a key impact in negotiations. Soft skills are becoming more important - even in the digital age.
Since I stepped back from running Spend Matters Europe at the end of 2018, I have had more time for cycling and my bass guitar (although if you heard me, you might not be convinced that I’ve improved ...
Many years ago, our telecom operator outsourced customer bill printing. That was an example of the basic outsourcing, as the business process still stayed fragmented between the external provider, our...
Running a procurement or supply chain organization poses unique leadership challenges. These organizations are constantly “fighting fires,” handling unique crises, and influencing a broad network of people - internally and externally.
The current public health crisis due to COVID-19 has impacted not only people’s lives but also businesses around the globe. The demand in most sectors has shrunk, and with supply and demand unbalanced, the price of most products has been affected. With less demand, most products have seen price decreases, but there are exceptions.
Jack Welch once noted that the only two departments that drive revenue directly to the bottom line are sales and procurement. He noted that the other departments were basically overhead. I would also include supply chain professionals in this revenue generating group.
Why do organizations continue to use high priced consultants and consulting firms instead of their own talented employees? Before I answer this, I must confess that I am an experienced consultant having worked for both small and large consulting firms.
