Leadership

VUCA Planning: Why Procurement Success During Volatile Times Requires Proactive Versus Reactive Agility

Posted: 01/28/2023 - 03:33
VUCA Planning: Why Procurement Success During Volatile Times Requires Proactive Versus Reactive Agility
What does it mean to have an agile supply chain?
 
The above question has been raised countless times since the pandemic's beginning, as most supply chains were “stretched” beyond the breaking point.
 
But during times of Volatility, Uncertainty, Complexity and Ambiguity (VUCA), we should ask this: is the agility to which I refer "proactive or reactive?"
 
 
Planning Agility?

Companies Tap into Procurement to Jumpstart Growth this New Year

Posted: 01/25/2023 - 00:39
Businesses weren’t prepared for the massive disruptions to global supply chains that the pandemic sparked. And they’re feeling the pain. According to research from SAP, 58% of companies have seen their revenue decline in the last three years. For many, growth remains stalled, and they are relying on procurement to restart that engine. Why procurement?

The “Data First” Approach & Why It's The Key To Procurement’s Digital Transformation

Posted: 01/23/2023 - 22:37
The “Data First” Approach & Why It's The Key To Procurement’s Digital Transformation
Data — clean and accessible data is important.
 
Ask me to sum up in one sentence the recent Global Executive Summit session featuring the Founder and CEO of TealBook, Stephany Lapierre, and Nasdaq’s VP. Global Head of Procurement Jeff Wright, the "data is important" theme would pretty much cover it.
 

How Improving Supply Chain Relationships Can Increase Profitability In An Inflationary Market

Posted: 01/04/2023 - 21:52
 How Improving Supply Chain Relationships Can Increase Profitability In An Inflationary Market
An old general once said, "pressure makes diamonds!”
 
When it comes to the ever-increasing pressures on supply chains these past two years, we must be getting close to Kohinoor value — which according to experts, is priceless.
 
The overarching question is whether tough, inflationary times represent a challenge or an opportunity for sourcing and procurement professionals to shine.
 

3 Ways Procurement Can Become the Go-To Strategic Partner for Spend Management

Posted: 12/21/2022 - 21:55
3 Ways Procurement Can Become the Go-To Strategic Partner for Spend Management
There’s no denying that cloud-based applications have changed the way tech stacks ebb and flow. Now that individuals are able to go straight to the source and purchase a new app in a matter of clicks, traditional sourcing and procurement processes have all but gone out the window. 
 

Nearshoring Vs Offshoring Vs Onshoring: Key Elements to Understand When Dealing With Outsourcing Services

Posted: 12/17/2022 - 01:31
Nearshoring Vs Offshoring Vs Onshoring: Key Elements to Understand When Dealing With Outsourcing Services
Outsourcing is a long-established practice of modern business. It was first popularized in the 90s when Kodak was among the first tech companies to outsource work to another company, in this case IBM. Since then, companies in the tech industry and beyond have used outsourcing in a variety of ways.
 
Why do businesses use outsourcing?

Benefits of CX Blockchain Certification for BPO Vendor Procurement

Posted: 12/15/2022 - 23:12
Benefits of CX Blockchain Certification for BPO Vendor Procurement
Procuring the services of an outsourced BPO or contact center vendor can be a time-consuming, labor-intensive process, given the ever-expanding vendor landscape and emerging nearshore and offshore regions. 
 
Blockchain is proving to be a viable solution to help procurement teams manage the process more efficiently and cost-effectively. Blockchain certification, a new standard, can also give outsourced BPO and contact center vendors a leg up on their competition when submitting RFPs and RFIs. 

Finalist Interviews for Sourcing Star Awards: Jerome Arfeli, UPS

Posted: 11/16/2022 - 04:38
Finalist Interviews for Sourcing Star Awards: Jerome Arfeli, UPS
How did you get into this field. Was it purposeful or by accident?  
Actually, my entry into Procurement was unexpected. I was finalizing my engineering internship at Solvay in a production facility in Belgium, when I decided to submit my resume to the centralized HR database of resumes without applying to any specific role. A few weeks later, a recruiter called me to discuss an analyst opportunity within Solvay’s newly created centralized procurement organization. I got the job and I was hooked on Procurement ever since! 

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