Members of RMA’s Third-Party Risk Management Round Table are experienced leader-practitioners, individually and collectively creating emerging best practices in third-party risk management. As the round table’s facilitator, subject matter expert, and member of the Steering Committee, it’s exciting and rewarding for me to be integral to this evolution.
Mary Lacity’s and Leslie Willcocks’ joint research in progressive outsourcing approaches has helped companies navigating modern outsourcing for over two decades.
Let’s face it – many people believe governance is boring. It’s all about compliance, following arcane rules and paying attention to details. There is nothing transformational, customer-experiential or disruptive about it.
Making the switch to outsourced strategic procurement is not as simple as handing tasks and responsibilities to a third party. It requires wholesale change that starts from within. Someone in procurement needs to lead that change, and it may or may not be the CPO. What procurement needs to do is to find the catalysts in their midst.
This month’s Academic of Outsourcing tribute goes to Douglass C. North for his work on “new institutional economics.” North – a professor, economist, philosopher and economic historian – was the co-recipient (with Robert Fogel) of the 1993 Nobel Prize in Economic Sciences “for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change.”
Multi-supplier service is all the rage, together with its linking agent Service Integration and Management (SIAM). Wonderful in theory... How does one practically get multiple parties to collaborate towards a common end?