Global

Don’t Leave Your Data Out in the Cold - It Needs a COAT

Posted: 08/12/2020 - 00:52
Ensure your data is consistent, organized, accurate and trustworthy to get the most out of it.

 

Data services are just like coats - not all are created equal. There's a varying range of price, quality and reliability. And, if your data doesn’t have a good coat, there could be a range of bad or costly decisions made. These decisions could affect the business performance, financial situation, risk jobs, or even the fate of the company. 

Managing Marketing Procurement Through a Kraljic Lens

Posted: 08/10/2020 - 23:38
Kraljic’s model classifies purchased products and services along two dimensions: profit impact and supply risk.

In a landmark 1983 article in the Harvard Business Review, Peter Kraljic introduced a purchasing portfolio model using a 2 x 2 matrix. The Kraljic model was based on the premise that purchased products and services can vary significantly in terms of importance and risk.  Based on this, procurement professionals should use different sourcing and supplier management strategies depending on the importance and risk profile of each purchase.

Guide Your Artificial Intelligence Solution with a Proof of Concept

Posted: 08/05/2020 - 22:58
To reap the benefits of AI, piloting a Proof of Concept (known as a PoC) is a logical first step to building your own AI models or solutions.

Historically, for organizations looking to improve their top or bottom line and gain competitive advantage, leveraging technology has always been considered. As we enter the next industrial revolution, Artificial Intelligence (AI) in our future is no exception. The interest and benefits of AI increase significantly across all industries and functions. The rewards continue to be meaningful for any organization looking to gain productivity and competitive advantage using AI.  

Could the Pandemic Bring Outsourcing Closer to Home?

Posted: 08/03/2020 - 02:45
When it comes to sourcing professional services to help grow their businesses, companies will increasingly find some level of comfort and convenience by partnering with those closer to home.

A Wall Street Journal article recently posed an interesting question: “Is the world likely to become less flat because of the pandemic?” According to the article, while globalization was the growing trend in the early part of the new century, key drivers such as rising offshore costs, localization and a shift toward services delivery has begun to take some steam out of it.

Prahalad and Hamel: Corporations and the Core Competency Concept

Posted: 07/31/2020 - 03:12
A core competency is the combination of resources and skills that distinguish a firm in the marketplace.

In 1990, two business academics, C.K. Prahalad and Gary Hamel, teamed to write one of the Harvard Business Review's most influential articles on the nature of the modern firm and, by extension, outsourcing. They introduced the concept of core competence, which they called the “most powerful way to prevail” in global commerce.

Digital agility begins with automation

Posted: 07/29/2020 - 02:05
digital agility with automation

Well, many companies adopt automation in only one department of their business, while the rest of the department will rely on legacy systems. An automation platform cannot perform to its ultimate capabilities if the whole company is not on the same system. When you talk about company-wide automation, many companies are hesitant to deploy automation company-wide because it can require a lot of training and the system may not be user-friendly.

Where Data and Operations Intersect to Meet COVID-19 Challenges

Posted: 07/28/2020 - 04:20
AI is instrumental when analyzing multiple, complex data assets to identify insights that are critical to predicting outcomes.

There is no shortage of analysis and predictions today regarding COVID-19 and our future.  While experts of all walks of life weigh in via global news channels, healthcare organizations are still left addressing the here and now as well as surges that could happen tomorrow, next week or in a few months. For those supporting the front lines securing necessary supplies and resources, it is paramount to be able to deliver what is urgently needed.

It’s Time for IT to Transition to a Circular Economy

Posted: 07/24/2020 - 03:44
Sustainable Information Technology IT

With greater attention on sustainability and the direct need to meet climate goals, purchasers are looking for ways to change. One place to start is with the 170 million notebook computers produced and sold around the world every year. Rethinking an organization’s purchase and use of IT products like those notebooks can dramatically cut an organization’s carbon footprint – and save money - without affecting performance.

Training and Developing Procurement Professionals

Posted: 07/22/2020 - 03:30
Invest in a training program that suits the unique needs of procurement.

Training a company’s team members is a foundational step in running a company, but it is often forgotten when busy times hit. This is a big mistake. Putting the time and effort into designing a training program that suits the unique needs of procurement will drive more effective results in less time. Employees will be better equipped to manage the various situations and surprises that sourcing across numerous categories brings about.

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