AI is ready to transform procurement, but is procurement ready for AI?
Posted: 03/11/2020 - 01:35
Procurement
5G and Procurement: Ushering in a Revolutionary Change in Internet Connection
Posted: 02/10/2020 - 03:17
Advancements in new technologies always assure to crop up with proficiency gains, high throughput and lower costs. When it comes to such advancements, the job for procurement is to have a clear understanding about how they function, what they are and what exactly they will make over for the greater cause of the business.
Supplier Relationship Management in the 2020s
Posted: 01/20/2020 - 00:00
It is becoming increasingly difficult to determine the size and capabilities in the marketplace to understand where to source products and services for your stakeholders.
The Predictably Irrational Appeal of Print Marketing
Posted: 01/17/2020 - 01:05
For years, many advocates of print-based marketing channels and tactics have argued that the physical and tactile nature of tangible marketing materials make them more appealing and persuasive than purely digital forms of communications. Until recently, however, these arguments have been based mostly on instinct or intuition rather than on hard scientific evidence.
“Buying” Open Source: The Procurement Challenges Around Cloud
Posted: 01/13/2020 - 00:00
In my previous article, I discussed how procurement teams can help their businesses when buying support or services for open source software. There is another key issue procurement teams will have to understand in relation to implementations of this type–cloud.
Source Wars: Episode I – The Rise Of Software
Posted: 01/07/2020 - 00:00
Procurement is old. Just how old you ask? Well, a long time ago in a galaxy far, far away… it’s been around for millennia. As a natural function of trade and commerce, it developed organically during the earliest civilizations. Papyrus records indicate procurement can be traced as far back as the Egyptians (the first Jedi) in 3000 B.C.
4 Major Procurement Trends to Watch for in 2020
Posted: 01/02/2020 - 04:01
With 2020 just in the door, progressive CPOs and their teams are planning for the year ahead. Here are four major procurement trends to factor into your thinking.
1. Increased Volatility
With shifting trade tariffs and barriers, the unpredictability of Brexit and fluctuating commodity prices, market volatility could be at an all-time high over the next 12 months.
Sourcing in the Circular Economy
Posted: 12/05/2019 - 09:51
Procurement plays a vital role in bringing new products and services to market, creating jobs and delivering economic prosperity for customers, stakeholders and shareholders. Sourcing plans identify value propositions, partnership and investment opportunities, new and emerging capabilities that have a substantial “positive” impact on the bottom line.
Where We Stand on the Journey to Gender Diversity
Posted: 12/03/2019 - 03:35
People who know me know that I am a passionate advocate for elevating the role of women in business, and I am particularly interested in seeing more women attain senior leadership positions in the procurement function. I’ve been working in procurement for years, and throughout my career, I’ve had the opportunity to meet and get to know hundreds of outstanding procurement professionals, many of whom are women.
How Relating is More Powerful than Competing
Posted: 11/30/2019 - 04:32
Traditionally, Procurement has been asked to compete in intense negotiations that drive the lowest price on contracts to receive the most favorable terms, whereas sales organizations are taught to fight back. Time and time again, Procurement and sales go through knock-out rounds.
Can B2B Transactions Help Tackle Today’s Most Pressing Challenges?
Posted: 11/22/2019 - 05:17
The role of business is quickly changing. Consumers, employees and investors expect businesses to act sustainably with more transparency – while also giving back to the communities that they operate in. To drive corporate social responsibility and sustainability holistically, companies need to examine their actions and operations to ensure their day-to-day activities align with the organization’s larger corporate commitments.
What Procurement Pros Need to Know About Trends in Marketing Spending for 2020
Posted: 11/20/2019 - 04:04
With the fourth quarter of 2019 now underway, many companies have already started developing their marketing plans for 2020. A major aspect of the planning process will be setting the overall marketing budget for next year and allocating the budget across marketing channels, tactics and other spending areas.
Ideally, marketing procurement professionals will be involved in the planning process and to participate effectively they will need to have a solid understanding of current marketing trends, including those relating to marketing spending.
Software Surplus! Over-Subscription Could Be Costing Your Company Millions
Posted: 10/08/2019 - 02:11
Sourcing professionals know that companies make significant investments in software to run and drive their businesses. They see first-hand how software subscription costs might run as high as hundreds of millions of dollars annually. Yes, the Office of the Chief Technology Officer and various business units collaborate to determine what software is needed, but typically it’s the procurement office that makes the purchase, and employees that use the software. Therein lies the problem.
Procurement Risk – Limited Visibility of the Supply Chain
Posted: 10/04/2019 - 23:44
A few weeks ago, I reviewed the 2018 Deloitte Global Chief Procurement Officer Survey and was not surprised that cost reduction, new products/market development and managing risks remain the top three business strategies for procurement. Sixty-five percent (65%) of procurement leaders report having limited or no visibility beyond their Tier 1 suppliers.
Sourcing Supernova Hall of Fame: Danny Ertel
Posted: 09/21/2019 - 04:47
How did you get into this field – was it purposeful or by accident?
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