Future of Sourcing - Technology https://futureofsourcing.com/tags/technology en Innovations in Governance & Compliance: Honda Development & Mfg America https://futureofsourcing.com/innovations-in-governance-compliance-honda-development-mfg-america <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Governance-%26-Compliance_0.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Governance-%26-Compliance_0.jpg" title="Innovations in Governance &amp; Compliance: Honda Development &amp; Mfg America" class="colorbox" rel="gallery-node-2234-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Governance-%26-Compliance_0.jpg?itok=2R3KtbrX" width="624" height="325" alt="Innovations in Governance &amp; Compliance: Honda Development &amp; Mfg America" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <p><em><strong>On October 19th, the&nbsp;<a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889">Future of Sourcing Awards</a>&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</strong></em></p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div> <div> <div>The automobile industry is experiencing a once-in-a-generation evolution as its products transition from internal combustion engines to electric vehicles. &nbsp;In order for automakers to enable this transition, characteristic improvements to our organizational structure across North America was needed to drive operational efficiency, lower OPEX costs, and speed up decision making. &nbsp;Our project team was tasked with restructuring the indirect procurement function under a single governance policy, a unified organization, and one system while navigating change management amidst the biggest organizational change in company history.</div> <div>&nbsp;</div> <div>All of this was done in just over 12 months, amidst a global pandemic, amidst the &ldquo;Great Resignation,&rdquo; and the unique need for our professional staff and management, including our project team, to work the assembly lines for a period of 2 months to maintain production.</div> </div> <div>&nbsp;</div> </div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> <div> <div>Prior to our reorganization in 2021, Honda&rsquo;s indirect procurement function consisting of 12 separate and decentralized purchasing teams across 10 different Honda companies. This was the result of our rapid growth in North America during the 1990s and a company philosophy of &ldquo;carry your own torch.&rdquo; This environment also produced a similar number of unique governance policies, an untold number of different business processes for similar procurement functions, and 4 unique ERP systems/supplier portals. How indirect procurement was viewed within each of those Honda companies, and what role they actually played (strategic vs. transactional) also varied widely. This does not even take into consideration our deleveraged position in the market with our suppliers and/or having different contracts and pricing agreement with shared business partners either.</div> <div>&nbsp;</div> <div>The inspiration to innovate this function came as part of the overall company reorganization. Numerous attempts have been made to consolidate this function, both formally and informally but that work was hard and the victories few.</div> </div> <p>&nbsp;</p> <p><em style="font-size: 1.231em; font-weight: bold;">What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></p> <div>Financial and performance outcomes were measured by achieving the required manpower and expense reduction (percentage) target. Another major metric achieved, was ensuring there were no major disruptions to the existing business as we reorganized and launched a new system. The final metric we achieved was the unification of policies. This was accomplished by establishing a single Indirect Procurement Governance policy for the North American region.&nbsp;</div> <div>&nbsp;</div> </div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div> <div style="clear:both;"> <div> <div>We plan on continuing the momentum we built with the reorganization and policy unification by focusing our attention on the following key areas:&nbsp;</div> <ol> <li>Place at the top of our operating characteristics and business plan activity the HR pillar, where associate development, culture and engagement is emphasized.&nbsp;</li> <li>Accelerate our digital transformation and maturity of procurement tools and automation.</li> <li>Utilize those technologies to continue driving business process standardization.&nbsp;</li> <li>Shift our procurement governance strategy away from simply training and awareness toward more compliance management, using those practices to drive both individual behavior and overall process changes.</li> <li><span style="font-size: 13.008px;">Continue to bring unmanaged company spend (such as marketing and advertising) under the influence of this new indirect procurement function.&nbsp;</span></li> <li><span style="font-size: 13.008px;">Transition from a savings-focused approach in sourcing to bringing creative solutions and value that maximizes overall company profitability instead.&nbsp;</span></li> </ol> </div> <div>&nbsp;</div> </div> </div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations? </em></h3> </div> <div> <div> <div>Below are a few of the more critical insights we would like to share:&nbsp;</div> <ol> <li>An organizational change management and communication strategy should be the first thing that is developed. Think from the &ldquo;outside-in&rdquo;. &nbsp;</li> <li>While executive sponsorship is essential in achieving project success, having well defined, and reinforced, project KPI&rsquo;s to back up executive direction is equally important. &nbsp;</li> <li>Be intentional and enthusiastic with assimilating new people into your organization. When it comes to building trust and eliminating fear, the soft stuff is the hard stuff.&nbsp;</li> <li>Take the opportunity to redesign as many business processes within a cloud-based solution as possible to eliminate legacy customizations. This will save long-term system development costs and allow for more flexible configurations as new functionality is released. &nbsp;</li> <li>Internal groups and companies will undoubtedly resist change, even at management levels. Be prepared to emphasize regularly that collective standardization is more important than individual optimization.</li> </ol> <div>&nbsp;</div> </div> </div> <div> <h3><em>How did you get your company and/or stakeholders to get on board and support this project?&nbsp;</em></h3> </div> <div> <div> <div>Executive direction and the need for our company to change (transition to electrified products) drove this effort at a macro level. To ensure we had good stake holder alignment to our specific activity, we deployed the following strategies:&nbsp;</div> <ol> <li>Focused our new system design and technology roadmap around building a better end user experience and interface. &nbsp;</li> <li>A &ldquo;lift and shift&rdquo; approach that integrated legacy procurement teams into our organization but kept them in support of their legacy business teams for 6 months to ensure continuation of business while stabilizing operations in the new organization structure. &nbsp;</li> <li>From a procurement governance standpoint, we issued a new policy in a &ldquo;hard launch, soft compliance&rdquo; fashion, again to allow the organization and business structures to form. &nbsp;</li> </ol> <div>&nbsp;</div> <div>In reflection, finding that proper balance between ushering in the new (systems, business processes, organization, policy, etc.) while maintaining operations of the old proved to be rather challenging, but that moderate approach proved to be the correct one in strengthening the indirect procurement function&rsquo;s role within the company for the long-term. &nbsp;&nbsp;</div> <div>&nbsp;</div> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Governance &amp;amp; Compliance: Honda Development &amp;amp; Mfg America - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-governance-compliance-honda-development-mfg-america"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div> Fri, 14 Oct 2022 03:56:36 +0000 Future of Sourcing Awards 2234 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-governance-compliance-honda-development-mfg-america#comments Innovations in Talent Management: WorkLLama https://futureofsourcing.com/innovations-in-talent-management-workllama <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg" title="Innovations in Talent Management: WorkLLama" class="colorbox" rel="gallery-node-2233-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg?itok=zUwrTW0v" width="624" height="325" alt="Innovations in Talent Management: WorkLLama" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div> <div> <div class="field field-name-field-intro field-type-text-long field-label-hidden" style="margin-top: 20px; outline: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: bold; font-stretch: inherit; font-size: 13px; line-height: inherit; font-family: &quot;Open Sans&quot;, Arial, Helvetica, Verdana, &quot;Bitstream Vera Sans&quot;, sans-serif; color: rgb(51, 51, 51); orphans: 2; widows: 2; text-decoration-thickness: initial;"> <div class="field-items" style="outline: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit;"> <div class="field-item even" style="outline: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit;"> <p style="margin-top: 0px; margin-bottom: 1.846em; outline: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit;"><em>This October, the&nbsp;<a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889" style="outline: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit; color: rgb(0, 161, 191);">Future of Sourcing Awards</a>&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</em></p> </div> </div> </div> <div class="field field-name-body field-type-text-with-summary field-label-hidden" style="margin-bottom: 20px; outline: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; font-size: 13px; line-height: inherit; font-family: &quot;Open Sans&quot;, Arial, Helvetica, Verdana, &quot;Bitstream Vera Sans&quot;, sans-serif; color: rgb(51, 51, 51); orphans: 2; widows: 2; text-decoration-thickness: initial;"> <div class="field-items" style="outline: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; font-stretch: inherit; line-height: inherit;"> <div class="field-item even" property="content:encoded" style="outline: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; font-stretch: inherit; line-height: inherit;"> <div style="outline: 0px; font-family: inherit; font-size: inherit; font-style: inherit; font-variant-caps: inherit; font-stretch: inherit; line-height: inherit;">&nbsp;</div> </div> </div> </div> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div>Our objective in introducing the WorkLLama AI-driven, talent acquisition and talent engagement suite to the market was to help our customers deliver a candidate experience that is more personalized for every individual in their talent ecosystem including full-time applicants, contractors, freelancers, independent consultants, and everything in between. Candidates are customers, and we believe that if companies approach talent acquisition with a sense of empathy for the candidate with the same level of focus as they do their customers, they will gain a huge competitive advantage in the war for talent. &nbsp;</div> <div>&nbsp;</div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> <div> <div>When we consider talent attraction and engagement practices, traditionally there have been very fragmented approaches across the different categories of workers (full-time vs contractor vs freelancers vs others). &nbsp;Full-time talent attraction typically leverages several different systems which leads to a very time consuming and clunky process to apply for a job. After candidates apply, it&rsquo;s often a black hole until they receive a rejection email some weeks later (if at all). Organizations have always relied on staffing agencies to find them contingent talent with a very hands-off approach and little concern for candidate engagement with the organization. &nbsp;</div> <div>&nbsp;</div> <div>Because of the pandemic and shifts in the workforce, organizations learned the importance of empathy and candidates have learned they have an incredible number of choices when it comes to how and for who they will work. Today, candidates expect, and deserve, an incredible, personalized experience from the very first interaction with a company to application to hiring to re-engagement.</div> <div>&nbsp;</div> </div> <p><em style="font-size: 1.231em; font-weight: bold;">What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></p> <div> <div>Our goals for this project were focused on hiring companies and the candidates as well (which we consider to both be our customers). A powerful solution was needed that helped companies connect with and remain engaged with high quality talent to serve their hiring needs, while also delivering a stellar experience to the candidates.&nbsp;</div> <div>Three features made the goals a reality:</div> <ol> <li>Sofi, AI-driven bot: With Sofi, candidate profiles can be completed with a few simple clicks, demonstrating to candidates that we value their time. If a candidate needs additional assistance, Sofi transfers them to a live human to chat, answer questions, and eliminate obstacles in the process.&nbsp;</li> <li>Talent marketing: Companies can market to talent with the same kind of automated workflows their marketing teams use to connect with customers. The workflows provide check-ins to solicit feedback such as &ldquo;How was your first day?&rdquo; &ldquo;How would you rate your experience?&rdquo; and &ldquo;Would you recommend our company (NPS)? Messages are text, email, push notifications.&nbsp;</li> <li>Crowdsourced referral engine: Referral sources are not limited to existing employees. Our referral engine is multi-tiered, allowing anyone in the company&rsquo;s ecosystem to be referrers.&nbsp;</li> </ol> <p>&nbsp;</p> <p><em style="font-size: 1.231em; font-weight: bold;">How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></p> </div> <div><span style="font-size: 13.008px;">All technology must be continually enhanced by learning from customers and the talent that uses the technology. AI is a critical component of the WorkLLama platform, so it&rsquo;s continually learning from user activity, including candidate actions within the platform. As the market shifts and companies and candidates require new functionality, we will review and assess what makes the most sense from an investment and innovation perspective.</span></div> </div> <div> <h3>&nbsp;</h3> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations?</em></h3> <div>The hiring strategies of the organizations have been completely transformed by leveraging the innovative technology platform. &nbsp;What took weeks or months to find and engage great talent is now days or even hours. &nbsp;What was challenging for candidates to engage with hiring companies is now quick and easy as seen in the number of successful engagements. To get started, you just need the desire to improve upon the processes that aren&rsquo;t working for you or your prospective talent. Ensure you have a small group of stakeholders committed to making this change and, of course, call WorkLLama to get started. We do the heavy lifting, so the commitment on the part of our customers is minimal. As long as you&rsquo;re passionate about creating a valuable experience for your workers, you can leave the rest to us.</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><em style="font-size: 1.231em; font-weight: bold;">What can you share that other companies can take as a &ldquo;lesson learned&rdquo; about talent management from your project?&nbsp;</em></div> </div> <div> <div> <div> <div>Talent marketing and management focuses on the entire candidate lifecycle, providing a personalized candidate experience from attraction to re-engagement. We hope to create an experience we&rsquo;d want to have if we were applying for a role. The goal is to follow the principles eCommerce companies use to attract customers, instead focusing on attracting the right candidates and engaging with them every step of the way.&nbsp;</div> <div>&nbsp;</div> <div>The WorkLLama platform has been able to help one of our clients achieve the following: &nbsp;</div> <ul> <li>Increase candidates sourced via referrals by 300% &nbsp;</li> <li>Reduce time to hire by 66% &nbsp;</li> <li>Deliver candidates who are 9x more likely to be hired than candidates from other sourcing channels </li> </ul> </div> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Talent Management: WorkLLama - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-talent-management-workllama"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Thu, 13 Oct 2022 21:21:32 +0000 Future of Sourcing Awards 2233 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-talent-management-workllama#comments Innovations in Talent Management: SAP / Capgemini https://futureofsourcing.com/innovations-in-talent-management-sap-capgemini <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg" title="Innovations in Talent Management: SAP / Capgemini" class="colorbox" rel="gallery-node-2232-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg?itok=zUwrTW0v" width="624" height="325" alt="Innovations in Talent Management: SAP / Capgemini" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <p><em><span style="color: rgb(51, 51, 51); font-family: &quot;Open Sans&quot;, Arial, Helvetica, Verdana, &quot;Bitstream Vera Sans&quot;, sans-serif; font-size: 13px; font-variant-ligatures: normal; font-weight: 700; orphans: 2; widows: 2; text-decoration-thickness: initial;">This October, the&nbsp;</span><a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889" style="outline: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 700; font-stretch: inherit; font-size: 13px; line-height: inherit; font-family: &quot;Open Sans&quot;, Arial, Helvetica, Verdana, &quot;Bitstream Vera Sans&quot;, sans-serif; color: rgb(0, 161, 191); orphans: 2; widows: 2;">Future of Sourcing Awards</a><span style="color: rgb(51, 51, 51); font-family: &quot;Open Sans&quot;, Arial, Helvetica, Verdana, &quot;Bitstream Vera Sans&quot;, sans-serif; font-size: 13px; font-variant-ligatures: normal; font-weight: 700; orphans: 2; widows: 2; text-decoration-thickness: initial;">&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</span></em></p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div> <div> <div>In our rapidly moving industry, our team needed a services procurement solution to help us tackle evolving needs and challenges. Our contingent workforce supports a number of our goals and we needed to implement the right technology to help us engage with external talent in a way that betters their experience and our organization as a whole. This was a driving force along with the growing importance of the contingent labor market to support workforce agility, business continuity, growth and innovation.&nbsp;</div> <div>&nbsp;</div> <div>Additionally, with the labor shortage that peaked during the pandemic, hiring skilled IT, software development, and engineering professionals became a greater challenge than ever before. We needed a flexible, cost-effective way to strategically source the skills required at the right time, with the right quality, and at the right cost.</div> <div>&nbsp;</div> <div>&nbsp;</div> </div> </div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> <div> <div> <div>Prior to partnering with SAP to address our needs, we took a reactive approach when hiring our contingent workforce &ndash; which did not allow us to be as strategic as we needed when sourcing talent. We needed an agile and scalable technology solution that could evolve with the needs of the business. Seeing how vital the contingent workforce is to the work we do every day sparked the inspiration to improve the process and find an innovative solution to our problem. &nbsp;</div> <div>&nbsp;</div> <div>Originally, we did not have the visibility into the success metrics that would allows us to optimize spend. Today, we have end-to-end visibility into our external talent sourcing which enables us to mitigate risk and make informed hiring decisions.</div> <div>&nbsp;</div> </div> </div> <p>&nbsp;</p> <p><em style="font-size: 1.231em; font-weight: bold;">What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></p> <div>Working in tandem with our HR strategy focused on attracting the right permanent talent to deliver Capgemini&rsquo;s full portfolio of services, our procurement team needed to optimize the contingent workforce strategy to deliver niche capabilities. Seeking to gain end-to-end visibility and control over every aspect of its external workforce, we wanted a single integrated solution to find, engage, manage, and pay continent workers. We also needed a solution that perfectly fit Capgemini&rsquo;s global business structure and several legal entities, allowing us to deliver a simple process across the business.&nbsp;</div> <div>&nbsp;</div> <div>The primary goals were to gain end-to-end visibility into the external workforce; mitigate business risk and meet current and future needs; improve business controls and optimize spend; and measure contingent labor spend against KPIs.&nbsp;</div> <div>&nbsp;</div> <div>We also wanted to lessen the time needed to fill positions where there were gaps. Because of this project, we were able to make the sourcing process more efficient, ultimately reducing the time it takes to fill positions by 60%.&nbsp;</div> <div>&nbsp;</div> <p>&nbsp;</p> <p><em style="font-size: 1.231em; font-weight: bold;">How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></p> </div> <div> <div style="clear:both;"> <div> <div> <div>Global visibility on contingent workforce ensures business continuity during difficult times. While our ability to have full visibility into the existing workforce helped ensure business continuity during COVID 19, the pandemic has also highlighted the urgent need for establishing a remote global workforce.&nbsp;</div> <div>&nbsp;</div> <div>Capgemini is now creating a gateway to attract freelancers and independent contractors combined with a trusted workforce program. Validating the experience and qualifications of this workforce, the new tool will help the firm deploy the right remote contractor services with the right capabilities and price around the world.&nbsp;</div> <div>&nbsp;</div> <div>In addition, in partnership with SAP, we are forging ahead with a goal of creating a global rate card structure for Capgemini&rsquo;s contingent workforce, classifying each skill and role level by country. With several years of data collection, the procurement team now has deep insights into pricing variances and is continuing to mine data to establish accurate pricing.</div> <div>&nbsp;</div> </div> </div> </div> </div> <div> <h3>&nbsp;</h3> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations?</em></h3> <div>Today&rsquo;s contingent workforce programs need to be agile to address complex and ever-changing market conditions. Innovative integrated technology and embedded specialized service provision from the market are key to enable such programs. KPIs like time to source and fulfillment rate are measures for the effectiveness and efficiency of the overall supply chain. If all these things are addressed in synchronization, contingent workforce programs are fit for the future.</div> <div>&nbsp;</div> <div>&nbsp;</div> </div> <div> <h3><em>What factors do you think are the most important to consider when innovating supplier performance?&nbsp;</em></h3> </div> <div> <div> <div>What other companies can take away from this project is the importance of visibility, especially as the contingent workforce continues to gain traction and the workplace evolves. In order to truly adapt to the changing environment, organizations must also ensure their sourcing and management of their external workforce innovates to match. By using a solution that allows them to gain visibility into their external workforce sourcing, organizations can make data-informed decisions for their workforce and their company.</div> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title=" Innovations in Talent Management: SAP / Capgemini - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-talent-management-sap-capgemini"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div> Thu, 13 Oct 2022 21:10:42 +0000 Future of Sourcing Awards 2232 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-talent-management-sap-capgemini#comments Innovations in Talent Management: Great Lakes Dock & Dredge https://futureofsourcing.com/innovations-in-talent-management-great-lakes-dock-dredge <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg" title="Innovations in Talent Management: Great Lakes Dock &amp; Dredge" class="colorbox" rel="gallery-node-2231-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg?itok=zUwrTW0v" width="624" height="325" alt="Innovations in Talent Management: Great Lakes Dock &amp; Dredge" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <p><strong><em><span style="font-size: 13.008px;">On October 19th, the&nbsp;</span><a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889" style="font-size: 13.008px;">Future of Sourcing Awards</a><span style="font-size: 13.008px;">&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</span></em></strong></p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div> <div>There was a recognition within GLDD that the procurement department could and should be something different from what it was. &nbsp;The organization was tactically focused and reactive, bidding individual requests as they came from business partners. &nbsp;Buyers supported individual user groups but did not have the capacity to assess needs strategically. &nbsp;There were no organizational KPIs or management routines in place to help control the function. &nbsp;A new procurement lead was brought in to build a new organization that would address the perceived gaps between where procurement was and where the company needed them to be.</div> <div>&nbsp;</div> </div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> <div> <div>GLDD&rsquo;s purchasing department was historically tactically focused on completing POs and making small purchased in response to customer demands. &nbsp;GLDD leadership understood that it was possible for the purchasing department to become something different &ndash; a true strategic procurement team. &nbsp;With the onboarding of a new procurement director, there was a unique opportunity to reassess and create a plan to build the organization into a new function supporting the internal customers as a trusted, strategic partner.</div> <div>&nbsp;</div> </div> <p><em style="font-size: 1.231em; font-weight: bold;">What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></p> <p><span style="font-size: 13.008px;">One important element of success for this project was sourcing savings. &nbsp;As GLDD built a strategic sourcing organization, we launched the first wave to drive savings and begin to build a new way of interacting with suppliers and internal customers. &nbsp;As processes were being redesigned, appropriate KPIs were introduced. &nbsp;Organizationally, dashboards were built to give senior leaders visibility into the functioning of the department, and the procurement team deep insight into their operational activities.</span></p> </div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div> <div style="clear:both;"> <div> <div>The model was designed to be flexible and adapt to any new needs or considerations that the organization would require to support its ongoing execution. &nbsp;The sourcing team could be reinforced or reduced as needed based on market conditions and service needs.</div> </div> <div>&nbsp;</div> </div> </div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations?</em></h3> <div>We would encourage any organization in need of undergoing a procurement transformation to seek out partners who can help them to accelerate and enhance the program to better ensure its success. &nbsp;A thorough understanding of what the organization needs their procurement team to provide is an essential first step. Understanding the skills and capabilities of the existing team helps to provide the foundation upon which to build the future. Clearly defining the gaps between the current state and the desired future helps to create the roadmap for success as the organization begins to rebuild itself into something new. &nbsp;Having a clear view of where you are, where you want to be, and an outline of how to get there are crucial to success.</div> </div> <div> <div>&nbsp;</div> </div> <div> <h3><em>What factors do you think are the most important to consider when innovating supplier performance?&nbsp;</em></h3> </div> <div> <div>It is important to have a clear understanding of the skills that are essential in the future organization to best enable the transformation&rsquo;s success. Defining the roles, responsibilities, and expectations of the new positions will stand any team transforming their procurement department in good stead.</div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Talent Management: Great Lakes Dock &amp;amp; Dredge - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-talent-management-great-lakes-dock-dredge"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Thu, 13 Oct 2022 21:01:15 +0000 Future of Sourcing Awards 2231 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-talent-management-great-lakes-dock-dredge#comments Innovations in Talent Management: WorkStep https://futureofsourcing.com/innovations-in-talent-management-workstep <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg" title="Innovations in Talent Management: WorkStep" class="colorbox" rel="gallery-node-2230-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Talent-Management.jpg?itok=zUwrTW0v" width="624" height="325" alt="Innovations in Talent Management: WorkStep" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <p><strong style="font-size: 13.008px;"><em><span style="font-size: 13.008px;">On October 19th, the&nbsp;</span><a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889" style="font-size: 13.008px;">Future of Sourcing Awards</a><span style="font-size: 13.008px;">&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</span></em></strong></p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div> <div> <div>I began my career in supply chain as a manager at a 3PL warehouse. Hiring and retention were the #1 challenge on the warehouse floor. The constant turnover affected every aspect of the warehouse&rsquo;s operations. It all stemmed from a major disconnect between managers and hourly workers. &nbsp;</div> <div>&nbsp;</div> <div>In 2017 I co-founded WorkStep to change this. Our goal was to enable frontline workers to provide anonymous feedback from their smartphone on job pain points, concerns, and more. Management collects their feedback in real-time and is able to help drive change. In fact, WorkStep&rsquo;s RETAIN solution became the first-ever supply chain workforce retention solution in the market. &nbsp;</div> <div>&nbsp;</div> <div>Since then, the need for a supply chain hiring and retention solution has skyrocketed with turnover at a historic high of 55%. RETAIN is helping leading companies improve retention by 36%. More importantly, it&rsquo;s helping give hourly employees a voice and meaningful career.&nbsp;</div> </div> <div>&nbsp;</div> </div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> <div> <div>The supply chain sector is notorious for hiring challenges and high turnover. Orientation workshops in warehouses and logistics centers happen almost daily and companies struggle to keep up with the cycle of new hires &ndash; many of which walk out the door 60 &ndash; 90 days later. &nbsp;</div> <div>&nbsp;</div> <div>To accommodate the constant need to hire, many businesses use third-party temp agencies to source talent &ndash; but it&rsquo;s an expensive and inefficient method to rely on. Some new hires cost the company twice as much than if sourced directly. Plus, these hires &ndash; as the name insinuates &ndash; are temporary. The quality of a worker who goes to a temp agency to be assigned out for the day is lower on average than a worker who is looking for their next long-term career step. This requires a greater monetary investment (and more time) for training employees &mdash; as well as decreased productivity and lower team morale. &nbsp;</div> <div>&nbsp;</div> <div>Businesses also leverage online job boards to hire &ndash; but this can be ineffective and time-consuming as well. It can take a business month to find the right applicant &ndash; holding hundreds of interviews with folks who aren&rsquo;t a good fit.&nbsp;</div> <div>&nbsp;</div> <div>In terms of retention, most businesses have no strategy in place. Supply chain roles are infamous for long hours, tough working conditions and isolated shifts. Management struggles to connect with employees one-on-one when teams are large and scattered across regions. As a result, if a worker is struggling, leadership is often in the dark and retention suffers.&nbsp;</div> <div>&nbsp;</div> <div>WorkStep&rsquo;s HIRE solution was created so workers could be easily and quickly matched to job postings that fit their specific interests and skills. Both applicants and workplaces have more power over who or what is a match and can skip meaningless interviews that lead to little return. It&rsquo;s fast, effective and cost-efficient &ndash; unlike tempt agencies or job boards.&nbsp;</div> <div>&nbsp;</div> <div>Once the right candidate is hired, WorkStep&rsquo;s RETAIN enables businesses to continuously collect their anonymous feedback on pain points, challenges and goals. Management is then able to drive change, create a better employee experience and ultimately, boost retention. RETAIN also alerts managers when it&rsquo;s time to check in with an employee at certain milestones. This creates better communication and engagement that leads to higher productivity and satisfaction.</div> </div> <p>&nbsp;</p> <p><em style="font-size: 1.231em; font-weight: bold;">What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></p> <div> <div>Based on customer data, RETAIN has helped supply chain companies decrease their employee turnover by up to 36%. Its retention-based payment model is a testament to its commitment to long-term hires.&nbsp;</div> <div>&nbsp;</div> <div>After implementing RETAIN, NFI, a major logistics company, saw a 36% decrease in new hire turnover in the first month of employment, an 18% decrease in overall turnover and a 2% increase in new hire satisfaction. Thanks to WorkStep, the company has streamlined HR processes, and now has the time and data available to invest in other initiatives. RETAIN also allowed Pepsi, the major beverage distributor, to decrease new hire turnover by 29%.&nbsp;</div> <div>&nbsp;</div> <div>WorkStep goes beyond retention as well. For example, its solution HIRE was used by grocery giant Kroger, which saw 10 direct hires placed per facility after implementation. Over time, Kroger experienced two times as many on-site interviews and began sourcing 100% of its non-exempt roles through WorkStep. After seeing the value of WorkStep, Kroger expanded its technology to distribution centers in additional regions, as well as its dairy and bakery manufacturing facilities. This solution was also implemented by WestRock, an American corrugated packaging company, and helped the company retain 82% of new workers hired using HIRE. &nbsp;</div> <div>&nbsp;</div> <div>Last year, HIRE facilitated over 600,000 supply chain job applications and crossed the 1 million user mark.</div> <div>&nbsp;</div> </div> </div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div> <div style="clear:both;"> <div> <div>The wants and needs of the hourly workforce are constantly changing and vary from company to company. WorkStep remains up to date with trends in the market by regularly conducting surveys to determine the most current turnover drivers and quit rates. This enables WorkStep to benchmark retention statistics and help customers compare themselves against industry standards. &nbsp;</div> <div>&nbsp;&nbsp;</div> <div>The power of real-time analysis is key when it comes to employee retention. WorkStep enables businesses to continuously collect feedback themselves in order to track trends, improvements or growing areas of concern within their own workforce. This allows for the most proactive level of mitigation and solutions.</div> </div> <div>&nbsp;</div> </div> </div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations?</em></h3> <div>My advice to companies looking to reduce turnover is to stop making assumptions about their workforce. &nbsp;Management assumes people quit solely because of pay and scheduling. By implementing RETAIN, they&#39;re able to see that isn&#39;t usually the case. &nbsp;In fact, our data finds that lack of career growth is the #1 reason for turnover quarter after quarter. With this insight, management can drive change where it will actually make a difference &ndash; such as holding more opportunities for professional development. &nbsp;&nbsp;</div> <div>&nbsp;</div> <h3><span style="font-size: 13.008px; font-weight: normal;">Most importantly, however, companies must act on the feedback collected through surveys. A recent WorkStep survey showed that upwards of 70% of workers feel like management isn&rsquo;t listening. Collecting data is only the first step. Action is absolutely critical.</span><span style="font-size: 13.008px; font-weight: normal;">&nbsp;</span></h3> <p><em style="font-size: 1.231em; font-weight: bold;">What factors do you think are the most important to consider when innovating supplier performance?&nbsp;</em></p> </div> <div> <div>The biggest thing I&rsquo;ve learned from our RETAIN data is that hourly workers aren&rsquo;t just looking for jobs &ndash; they want meaningful careers. They prioritize professional development, opportunities for growth, and personalized career paths. A simple pay raise isn&rsquo;t enough to make them stay. &nbsp;</div> <div>&nbsp;</div> <div>There&rsquo;s a stigma that warehouse workers, truck drivers, and other supply chain employees are looking to clock in, clock out, cash their check and go home. That&rsquo;s not the case &ndash; and making those assumptions are dangerous to the health of your organization. To improve retention, businesses need to get to the real root of turnover. The only way to do so is to ask employees themselves.</div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Talent Management: WorkStep - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-talent-management-workstep"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div> Thu, 13 Oct 2022 20:52:34 +0000 Future of Sourcing Awards 2230 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-talent-management-workstep#comments Innovations in Supplier Performance: BGIS Global Integrated Solutions https://futureofsourcing.com/innovations-in-supplier-performance-bgis-global-integrated-solutions <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Supplier-Performance.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Supplier-Performance.jpg" title="Innovations in Supplier Performance: BGIS Global Integrated Solutions" class="colorbox" rel="gallery-node-2229-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Supplier-Performance.jpg?itok=7lNQqhqL" width="624" height="325" alt="Innovations in Supplier Performance: BGIS Global Integrated Solutions" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div> <div> <p><em><strong>This October, the&nbsp;<a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889">Future of Sourcing Awards</a>&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</strong></em></p> </div> </div> </div> <div> <div> <div property="content:encoded"> <div>&nbsp;</div> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div> <div>BGIS is a fast-growing organization providing a full range of real estate services to corporate clients. Our mission is to deliver innovative business solutions for clients with real estate portfolios, while continually creating value for their stakeholders and ensuring a sustainable, safe, and comfortable environment for all. We constantly seek to innovate, partnering with leading technology providers to help drive improved service outcomes for our clients that ensure critical safety, compliance, sustainability, and business continuity objectives are achieved. We work with over 12,000 subcontracted suppliers and our goal is to make it easier for them to do business with us.&nbsp;</div> <div>&nbsp;</div> <div>BGIS&rsquo;s growth made it clear our supply-chain systems required improvement. The procurement-related teams held numerous &ldquo;Blue-Sky&rdquo;, brainstorming and effort-impact planning sessions resulting in alignment on the critical projects necessary to deliver the most impactful results. The findings were that the integration between our sourcing, procurement, operations, and invoice management processes were strained due to sub-optimal systems and lack of standardization.</div> <div>&nbsp;</div> </div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> <div>The findings from the sessions were that the integration between our sourcing, procurement, operations, and invoice management processes were strained due to sub-optimal systems and lack of standardization. The team identified four opportunity areas addressing high administrative costs, rework, speed, compliance, and supplier satisfaction: &nbsp;</div> <ol> <li>There was a lack of a comprehensive contract lifecycle management tool; contract registry was managed in a complex and cumbersome SharePoint workflow. &nbsp;</li> <li>The existing supplier compliance provider imposed high user-registration fees, resulting in low adoption and compliance rates by suppliers. Supplier setup process was manual and did not integrate with BGIS&rsquo;s ERP.&nbsp;</li> <li>Recurring contract PO processes were inefficient, inconsistent, and fraught with error, resulting in invoice rejections and payment delays. &nbsp;</li> <li>The supplier invoice processing system was inefficient. Administration was labour-intensive, often resulting in payment delays.&nbsp;</li> </ol> <p><span style="font-size: 13.008px;">BGIS is committed to implementing innovative ways to optimize our processes, making them more efficient and able to sustain the organization&rsquo;s growth. As we indicated earlier, we partner with 12,000+ suppliers globally to provide reliable, quality services to our clients and we needed industry-leading systems and tools to make it easier for them to do business with BGIS.</span></p> <p>&nbsp;</p> <p><em style="font-size: 1.231em; font-weight: bold;">What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></p> <div>BGIS moved from relatively manual processes for invoice processing and contract management, often resulting in duplication of efforts, to achieving its goal of an integrated and efficient end-to-end source-to-payment process.&nbsp;</div> <div>&nbsp;</div> <ol> <li>The eHUB contract lifecycle management system, the only one of its kind in our industry, allowed Strategic Sourcing to be more efficient and take on additional workload equivalent to 8% of our operating budget with no additional resources. eHUB currently manages 2,600+ contracts, 3,350+ amendments and 3,750+ suppliers. In 2021, the Strategic Sourcing team executed over 800 contracts and amendments (95% increase from that in the previous SharePoint manual tool). Strategic Sourcing has maintained a 99% compliance with our Strategic Sourcing and contract management policies. The eHUB system has the added features of milestone tracking, automated reminders, extensive initiative tracking, resource planning and advanced reporting capability. We recently added the ability to track achieved savings, which when reporting is fully implemented, will create additional efficiencies. The system allows us to implement bulk updates to records and process large amounts of data through the backend. For example, we recently established and processed 1,200+ amendments for execution within a week &ndash; an achievement which would not have been possible before.&nbsp;</li> <li>Since the implementation of the Avetta supplier compliance system and the new supplier setup tool, supplier registration in Avetta has reached 100%. 1,000+ suppliers with 8,000+ connections are registered and BGIS achieved 85% compliance within 6 months of implementing the system. Additionally, Avetta has been able to accommodate enhanced H&amp;SE requirements, client-specific COVID-19 requirements, diversity and inclusion questionnaires, automated document signoff and enhanced reporting. Supplier satisfaction with Avetta increased to 98% from 72% with the previous provider. &nbsp;</li> <li>The implementation of the Oracle Cloud system resulted in the unprecedented &ldquo;PO Flip&rdquo; and enhanced financial reporting, internal controls, and invoice management capabilities. Real-time invoice validation and reduced processing time improved the on-time payment metrics. With the visibility, timeliness and transparency provided to the suppliers, the enhanced process enabled the P2P team to deal with 50% less exceptions compared to 2 years prior, saving substantial time and costs, and enabling the team to focus on other process improvements. In addition, the Supplier Portal also better supports cash stability for both BGIS and our suppliers. &nbsp;</li> <li>Invoice payment and efficiency improvements have been reported consistently since the implementation of the Supplier Portal and the Oracle Cloud system. First-pass-yield on invoice processing achieved 90%, up from 60% (50% improvement) and Supplier Portal usage has increased to 40% of our suppliers, up from 15%. The cost per invoice has been reduced by 35%. The P2P is now able to focus on value-add initiatives rather than ongoing issue resolution. Supplier satisfaction with BGIS invoice processing systems has increased to 95% (up from 44%)!&nbsp;</li> <li>Part of the Oracle Cloud system, a business portal for BGIS users allowed for automated change requests leading to reduced touch points, fewer exceptions and inquiries, real-time invoice validation, and improved ability for on-time payment. The maintenance activities of the contract PO were greatly streamlined reducing errors and rework. &nbsp;</li> </ol> <p><span style="font-size: 13.008px;">BGIS issues an annual Supplier Satisfaction survey and while our relationship with our suppliers has always been very positive, since these supply-chain sourcing to payment solution improvements were implemented, our results have significantly improved. Overall satisfaction increased to 96%, up from 78%; the satisfaction with BGIS systems, tools and apps has increased to 89%, up from 62%; and 89% of our suppliers find it easy to do business with BGIS, up from 64%. These results indicate that we are well on our way of achieving our goal of making it easier for suppliers to do business with us.&nbsp;</span></p> </div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div> <div style="clear:both;"> <div> <div> <div>The BGIS tagline is &ldquo;Enabling Innovation&rdquo;. As a global leader in integrated facility management services, we offer a full range of facility and real estate management services, partnering with clients globally to bring forward innovative solutions. Our clients are sophisticated and demand sophisticated solutions. We strive to be leaders in a very competitive industry, and we foster a culture of innovation and continuous improvement within our organization and our supplier base.</div> <div>&nbsp;</div> <div>Open forums, focus groups and clear communication help us drive innovative and unique solutions. Our Innovation Council hosts monthly discussions where cross-functional reps share ideas and the latest innovative solutions and obtain valuable user perspective.</div> <div>&nbsp;</div> <div>Since the initial implementation of the systems noted here, we have continually sought ways to enhance and improve the delivery model beyond the initial scope. These systems have the capacity to support BGIS growth, new functionality and expand globally.</div> <div>&nbsp;</div> <div>In addition, we leverage Business Intelligence (BI) to provide improved dashboards and business analytics. Our objectives for the next few years are to generate insights and predications that enable strategic decision making by allowing full visibility and actionable insights into trends. This entails a focus on integration and data governance to gain holistic insights; enabling a data driven culture that adopts embedded analytics for decision-making, forward-looking predictions and recommendations that drive business outcomes; and increased efficiency through process automation and digital transformation.</div> <div>&nbsp;</div> <div>We utilize Robotic Process Automation (RPA), Application Programming Interface (API) data transfer and Operational Data Store (ODS) technologies, technologies that will continue to provide exponential growth support without requiring additional resources. Cross-functional leadership teams meet regularly and closely ensuring that emerging technologies are applied for future value and growth.&nbsp;</div> <div>&nbsp;</div> </div> </div> </div> </div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations? </em></h3> </div> <div> <div> <div>Several learnings resulted from these projects and are now embedded in our organization: &nbsp;</div> <ol> <li>A well-established business case, project charter and executive support are key to a successful system development and change.&nbsp;</li> <li>Open forums, focus groups and clear communication within the organization as well as to the supplier base helped us come up with innovative and unique solutions. These open lines of communication and idea exchanges were imperative to obtaining user perspective as well as buy-in and support. Involving these key participants resulted in an outcome that provided increased supplier satisfaction scores.</li> <li>Having a Centre of Expertise along with strategic points of contact (SPOCs) in the business units to help with cascading and championing the change management message across their teams and help with training users was a key factor.</li> <li><span style="font-size: 13.008px;">Having standardized and centralized processing within our corporate procurement-related functions (Strategic Sourcing, P2P, etc.) using consistent tools and processes across all our business units is critical to success and efficiency.</span></li> <li>Comprehensive and ongoing communication and training is imperative to the success of the implementation of a system with such significant magnitude and span across our supply-chain and cross-functional delivery systems.&nbsp;</li> </ol> </div> <div>&nbsp;</div> </div> <div> <h3><em>What factors do you think are the most important to consider when innovating supplier performance?&nbsp;</em></h3> </div> <div> <div>The most important factors to consider when innovating supplier performance are to establish a mutually respectful relationship with mutually accepted objectives and KPI&rsquo;s that are well defined in the contract. It is important that neither party holds the other accountable for things that are outside their control. BGIS has a supplier score card system which ensures that supplier performance is measured using a methodology that is measurable, consistent, uses inputs from the systems outlined above, and avoids subjectivity.</div> <div>&nbsp;</div> <div>It is critical to establish a strong governance process that has appropriate review cadence with individuals at the highest possible level of the supplier organization to monitor performance results, improvement opportunities and action items. We hold regularly scheduled Supplier Business Review (SBR) meetings which result in well documented notes and action items that are reviewed at each meeting.</div> <div>&nbsp;</div> <div>Having a well documented processes ensure that consistency in supplier reviews and management regardless of changes in individuals. We have found that a strong and well-documented performance management regime allows for strategic innovation and partnership with our suppliers.</div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Supplier Performance: BGIS Global Integrated Solutions - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-supplier-performance-bgis-global-integrated-solutions"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/north-america" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">North America</a></div></div></div> Thu, 13 Oct 2022 20:24:37 +0000 Future of Sourcing Awards 2229 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-supplier-performance-bgis-global-integrated-solutions#comments Innovations in Supplier Performance: Vendorful, Inc. & Ravenswood Solutions https://futureofsourcing.com/innovations-in-supplier-performance-vendorful-inc-ravenswood-solutions <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Supplier-Performance.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Supplier-Performance.jpg" title="Innovations in Supplier Performance: Vendorful, Inc. &amp; Ravenswood Solutions" class="colorbox" rel="gallery-node-2228-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Supplier-Performance.jpg?itok=7lNQqhqL" width="624" height="325" alt="Innovations in Supplier Performance: Vendorful, Inc. &amp; Ravenswood Solutions" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <p><em><strong>On October 19th, the&nbsp;<a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889">Future of Sourcing Awards</a>&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</strong></em></p> </div> <div>&nbsp;</div> <div> <div style="font-size: 13.008px;"> <div property="content:encoded">&nbsp;</div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div> <div> <div>Ravenswood Solutions, a wholly owned subsidiary of SRI International, provides government agencies and commercial clients with technology and services for collective training, test and evaluation, and policy analysis exercises. The combination of an eclectic portfolio of offerings and the regulatory overhead that comes with providing services to governments means that effective supplier management is critically important to Ravenswood&rsquo;s success.&nbsp;</div> <div>&nbsp;</div> <div>To meet compliance requirements, Ravenswood instituted a comprehensive performance evaluation process of all suppliers that exceeded a predetermined spend threshold. Upon generating the list, a team of people compiled a list of relevant stakeholders and kicked off the evaluation, which was built on top of spreadsheets and email. They were able to collect the data they needed, but the only way to do this at the required scale necessitated a significant time and resource pull.&nbsp;</div> <div>&nbsp;</div> <div>The Vendorful team identified an opportunity to drastically reduce the effort involved in managing Ravenswood&rsquo;s mission-critical supplier evaluation processes, so that the team could focus on more strategic activities rather than wrangling stakeholders and collating documents.</div> </div> </div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> </div> <div> <div> <div>Imagine sending spreadsheet-based supplier surveys thousands of times via 1-on-1 via emails, knowing that when the responses come back, a massive manual data compilation process awaits. Not only was it inefficient for strategic players in their organization to spend significant time painstakingly aggregating data, but the cumbersome process also made it difficult for the team to keep track of progress, resulting in record retention problems. And at the end of the process it was challenging to deliver the results in a presentable and actionable format.</div> </div> </div> <div> <h3><em>What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></h3> </div> <div> <div>Since Ravenswood was already evaluating every critical supplier to meet their legal and regulatory requirements, the main goal was to reduce the overhead associated with those evaluations. The primary KPI we targeted was &ldquo;total person-hours per evaluation&rdquo;.&nbsp;</div> <div>&nbsp;</div> <div>The old manual process required 7 hours per evaluation, on average. After implementing Vendorful, the average time per evaluation dropped to 40 minutes &ndash; a <strong>90% reduction</strong>. &nbsp;</div> <div>&nbsp;</div> <div><span style="font-size: 13.008px;">According to Ernesto Lozano Jr., Senior Buyer at Ravenswood, &ldquo;Vendorful was the platform we needed for the digital transformation of our vendor evaluation process. Not only have our ISO audits been a breeze, the shift from manual to automated has allowed our team to focus on driving more strategic value rather than digging through Excel files.&rdquo;</span>.&nbsp;</div> <div>&nbsp;</div> </div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div> <div style="clear:both;"> <div> <div>We will continue to iterate and improve our Supplier Scorecard feature based on feedback from Ravenswood and other customers. That feedback has already led us to improve our Supplier Performance offering by incorporating quantitative metrics - drawn directly from raw performance data in an ERP or other system - in addition to the qualitative feedback collected from surveys. The next evolution we are excited to build is adding automation to trigger new Supplier Performance evaluations based on certain events - like completing a specific project.</div> <div>&nbsp;</div> </div> </div> </div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations? </em></h3> </div> <div> <div> <div>Many organizations think that they need to &ldquo;clean up&rdquo; their supplier data before they can undertake transformative projects like this. The reality is that data gets better with use. The best way to clean up your supplier data is to start getting actionable insights from it. Working with data has a way of automatically surfacing not just the specific items that need attention, but the relative priority.&nbsp;</div> <div>&nbsp;</div> <div>The barriers to automating supplier management tasks are much lower than most people think &ndash; from onboarding to ongoing data maintenance to compliance monitoring to performance evaluation.</div> </div> <div>&nbsp;</div> </div> <div> <h3><em>What factors do you think are the most important to consider when innovating supplier performance?&nbsp;</em></h3> </div> <div> <div>The most important factor is to remember how critical Supplier Performance is to your organization! Everyone understands the importance of analyzing spend data, but acting on spend analysis without considering performance omits half the equation. Yet the performance side is usually relegated to email and spreadsheets and hours of tedious manual collation. It&rsquo;s equally important, and performance management deserves as much attention as spend management.&nbsp;</div> <div>&nbsp;</div> <div>The other important factor to consider is the ROI. Understanding supplier performance is an absolute business necessity, but it also saves money. Poor supplier performance leads to cost leakage that doesn&rsquo;t show up on the supplier&rsquo;s invoice &ndash; the hard dollar costs associated with making up those deficiencies, and the opportunity cost of scrambling to do so. Performance visibility saves money.</div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Supplier Performance: Vendorful, Inc. &amp;amp; Ravenswood Solutions - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-supplier-performance-vendorful-inc-ravenswood-solutions"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div> Thu, 13 Oct 2022 20:11:38 +0000 Future of Sourcing Awards 2228 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-supplier-performance-vendorful-inc-ravenswood-solutions#comments Innovations in Sourcing: Salesforce, Inc. https://futureofsourcing.com/innovations-in-sourcing-salesforce-inc <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Sourcing.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Sourcing.jpg" title="Innovations in Sourcing: Salesforce, Inc." class="colorbox" rel="gallery-node-2227-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Sourcing.jpg?itok=flTJ1HFz" width="624" height="325" alt="Innovations in Sourcing: Salesforce, Inc." title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div> <div> <p><em><strong>This October, the&nbsp;<a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889">Future of Sourcing Awards</a>&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</strong></em></p> </div> </div> </div> <div> <div> <div property="content:encoded"> <div>&nbsp;</div> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div> <div>At Salesforce, <a href="https://www.salesforce.com/news/stories/sustainability-core-value/">Sustainability is a core company value</a> and we strive to be at the forefront of advancing sustainable business practices and bold climate action. The world is facing a climate emergency that requires an immediate, unprecedented response from all sectors at scale. That&rsquo;s why in April 2021 we started introducing specific, binding sustainability requirements into our supplier contracts with a first-of-its-kind <a href="https://www.salesforce.com/content/dam/web/en_us/www/documents/legal/sustainability-exhibit.pdf">Sustainability Exhibit</a>. With the Exhibit, we aim to demonstrate the power of customer voice, redefine the role of sustainability in supplier relationships, and create a cascade of impact through our supply chain. Additionally, with more than 85% of our greenhouse gas emissions coming from our supply chain, our suppliers&rsquo; progress is critical to meeting <a href="https://www.salesforce.com/company/sustainability/">our own climate goals</a>. The Exhibit is a tool we can use to mobilize our suppliers to dramatically reduce and compensate for their own emissions.</div> <div>&nbsp;</div> </div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> </div> <div> <div> <div>Sustainability has always been important to our supplier relationships, but before the Exhibit was introduced, we were including sustainability in contracts on a limited, ad hoc basis. We were using broad statements in our <a href="https://www.salesforce.com/content/dam/web/en_us/www/documents/legal/supplier/salesforce-supplier-code-of-conduct.pdf" target="_blank">supplier code of conduct</a> to indicate our expectations and relying on the power of influence to drive action. We recognized that to truly accelerate global action we needed to innovate, moving beyond simply influencing suppliers to requiring climate action as a contractual obligation. </div> <div>&nbsp;</div> </div> </div> <div> <h3><em>What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></h3> </div> <div> <div> <div>Our primary measure of success is percent of spend with suppliers that have signed an agreement with the Sustainability Exhibit. This KPI is highly visible throughout Salesforce, as this fiscal year a portion of variable pay for executive vice presidents and above will be <a href="https://www.salesforce.com/news/stories/salesforce-new-esg-measures/" target="_blank">tied to four ESG metrics</a>, one of which is increased spending with suppliers who have signed the Exhibit. We&rsquo;re also measuring progress against our commitment that by 2024 60% of our supply chain emissions are attributable to suppliers that have set <a href="https://sciencebasedtargets.org" target="_blank">science-based targets</a> (SBTs) to reduce greenhouse gas emissions. The Exhibit requires suppliers to commit to and make progress towards these SBTs. As of our most recent <a href="https://stakeholderimpactreport.salesforce.com/governance/supply-chain-responsibility" target="_blank">annual report</a>, 40% of our supply chain emissions come from suppliers that have set or committed to setting a SBT.&nbsp;</div> <div>&nbsp;</div> </div> </div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div> <div style="clear:both;"> <div>We crafted the Exhibit to be adaptable by minimizing overly prescriptive terms, and we&rsquo;ve designed our engagement strategies to be able to accommodate shifts in our business or the market. We will iterate on the terms and implementation strategies as needed based on feedback from suppliers, internal stakeholders, and subject matter experts. Ultimately, our vision is that contractual sustainability requirements become the norm. That&rsquo;s why we&rsquo;ve made the Exhibit publicly available and <a href="https://www.salesforce.com/content/dam/web/en_us/www/documents/legal/no-index/sustainability-terms-from-scratch.pdf">share our approach</a> as a blueprint for others. This new model is well-timed as the business world is already experiencing a sustainability transformation, especially under the pressure of climate change. &nbsp;</div> </div> <div style="clear:both;"> <p paraeid="{6c137d00-48a5-40b8-ae3b-ad8efa1e0496}{100}" paraid="941188535">&nbsp;</p> </div> </div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations? </em></h3> </div> <div> <div>We have a few learnings that we can share with other companies looking to introduce sustainability and climate action into supplier contracts. &nbsp;</div> <div>&nbsp;</div> <div>First, create flexibility by providing the North Star rather than the route. Sustainability is a journey, and it will look different for every company depending on their industry, size, geography, etc. Drafting terms that set clear, ambitious expectations for where you want suppliers to go, while allowing for flexibility in how and when they get there, makes it easier to maintain the intent and rigor of those terms through negotiations with a wide array of businesses. One example of this is requiring suppliers to set SBTs, which provides a global framework for the level of decarbonization a business must achieve to meet planetary needs. Acknowledging a supplier&rsquo;s sustainability maturity and existing strategies also helps foster collaboration. &nbsp;</div> <div>&nbsp;</div> <div>Second, empower your sourcing team. Your sourcing team doesn&rsquo;t need to be sustainability experts to implement sustainability terms in contracts, but they&rsquo;ll be much more successful if they are comfortable with the concepts and have tools that support negotiation. At Salesforce, we provide our sourcing team with an Exhibit playbook and training, as well as direct support for priority negotiations. Perhaps most importantly, our sourcing leadership is fully bought in, which enables the team to prioritize the Exhibit even in complex or escalated situations. We also make sure our sourcing team knows that they&rsquo;re playing a critical role in Salesforce achieving its corporate goals, and we&rsquo;ve heard that engaging with suppliers on sustainability adds to the sense of purpose of their day-to-day work. &nbsp;</div> <div>&nbsp;</div> <div>Third, align the consequences of non-compliance with intended outcomes. A particularly innovative feature of our Sustainability Exhibit is the &ldquo;climate positive remedy&rdquo;, which requires suppliers to fund carbon offset projects, renewable energy, or tree planting if they don&rsquo;t follow through on the sustainability obligations. In that way, even if a supplier falls short of expectations, the Exhibit can drive a more sustainable outcome than business as usual. This is often a key conversation point with suppliers that can help create and maintain a collaborative negotiation, because it reinforces our message that the Exhibit really is intended to support the shared goal of benefiting the planet.&nbsp;</div> <div>&nbsp;</div> <div>For additional information about our approach and lessons learned, companies can check out the articles we&rsquo;ve published on <a href="https://www.salesforce.com/content/dam/web/en_us/www/documents/legal/no-index/sustainability-terms-from-scratch.pdf" target="_blank">developing sustainability terms from scratch</a>, i<a href="https://www.salesforce.com/content/dam/web/en_us/www/documents/white-papers/integrating-sustainability-supply-chain-contracts.pdf" target="_blank">ntegrating sustainability into contracts</a>, and <a href="https://www.salesforce.com/content/dam/web/en_us/www/documents/legal/no-index/sustainability-stakeholders-third-party-assurance-providers.pdf" target="_blank">the role of third-party assurance providers</a>.</div> </div> <div>&nbsp;</div> <div>&nbsp;</div> <div> <h3><em>How much time did this specific innovation take to implement into your organization? &nbsp;</em></h3> </div> <div> <div> <div>It took us about 9 months from conceptualizing the Exhibit to roll it out to suppliers. During this time, we were developing the language to optimize outcomes, getting buy-in from key partners (such as Legal, Procurement, Finance, Sustainability, Government Affairs, and Philanthropy), consulting with internal and external subject matter experts, strategizing messaging to suppliers, and training our sourcing and legal teams. Top-down alignment on our sustainability priorities helped ensure this work ran smoothly and collaboratively. Implementation is an ongoing process as we continue to add the Sustainability Exhibit to templates for additional agreement types, introduce it to new suppliers, add it to existing contracts through amendments, and train the team on process improvements.&nbsp;</div> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Sourcing: Salesforce, Inc. - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-sourcing-salesforce-inc"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div> Thu, 13 Oct 2022 19:48:32 +0000 Future of Sourcing Awards 2227 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-sourcing-salesforce-inc#comments Innovations in Outsourcing: GEP https://futureofsourcing.com/innovations-in-outsourcing-gep-0 <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Outsourcing_0.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Outsourcing_0.jpg" title="Innovations in Outsourcing: GEP" class="colorbox" rel="gallery-node-2226-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Outsourcing_0.jpg?itok=jI78IZ7K" width="624" height="325" alt="Innovations in Outsourcing: GEP" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <p><em><strong>On October 19th, the&nbsp;<a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889">Future of Sourcing Awards</a>&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</strong></em></p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div><span style="font-size: 13.008px;">The client is a Fortune 500 retail company that was facing immense challenges overcoming the severe impact of the pandemic on its brick-and-mortar sales. It needed to urgently revamp and transform its procurement organization so that it could help the business recover and grow. The procurement function needed to evolve, redefine its priorities and play a strategic role within the company to respond to the evolving business environment and consumer habits because of the pandemic. &nbsp;</span></div> <ul> <li><span style="font-size: 13.008px;">Improved business relationship to drive savings in a challenging business environment</span></li> <li>Close supplier partnerships, brokered by procurement, to enhance supplier-driven innovation and minimize business disruption &nbsp;</li> <li>Increased cost management as the client focused on improving sales and margins &nbsp;</li> <li>Improved working capital and liquidity &nbsp;</li> <li>Assistance with capital expenditure projects as the business started to make investments to recover and expand &nbsp;&nbsp;</li> <li>Sustainability through renewable energy project</li> </ul> <div>&nbsp;</div> <div>The company recognized that to get to the next level, it needed external help and decided to partner with GEP both to find solutions for its immediate concerns as well as help in its longer procurement transformation journey. It selected GEP for its expertise in procurement and supply chain solutions, its capabilities in retail, and its experience in helping other global companies overcome challenges and grow. &nbsp;&nbsp;</div> <div>&nbsp;</div> <div>GEP strives to help enterprises rapidly build the infrastructure and capabilities required to power high-performance procurement organizations. Through this project, which required unified approach encompassing strategy, software and managed services, GEP was able to showcase how a high-performing procurement function can play a crucial role in helping the organization overcome series of external challenges and help it in a transformation journey.</div> <div>&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div> <div> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> </div> <div> <div>The company had a capable procurement organization in place prior to the pandemic, but the team was set in its ways and was unable to leverage its existing capabilities to drive improved outcomes. Procurement needed more support to respond to the fast-changing market landscape and external challenges brought on by the lockdowns, transportation restrictions, social distancing, the shift to online buying and new consumer shopping patterns.</div> <div>&nbsp;</div> <div>The company had furloughed a high percentage of their staff, leaving a bare-bones operations team at the management level to run the business during the lockdown and its stock prices were falling. We realized we could help the client: &nbsp;</div> <ul> <li>Drive the sustainability and ESG agenda by utilizing more renewable energy.&nbsp;</li> <li>Improve gross margins through competitive tension and improve the sourcing execution speed with the use of auctions.&nbsp;</li> <li>Gain greater control over spend, drive greater compliance and save costs by shortening its long tail and consolidating suppliers.</li> </ul> </div> <div>&nbsp;</div> <div>&nbsp;</div> <div> <h3><em>What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></h3> </div> <div> <div>Overall, savings/benefits was the key metric used to measure outcomes and success. For every project, savings were approved by client&rsquo;s finance team. &nbsp;</div> <div>For specific initiatives, metrics to measure outcomes differed for individual projects:</div> <div>&nbsp;</div> <div> <div>Overall, savings/benefits was the key metric used to measure outcomes and success. For every project, savings were approved by client&rsquo;s finance team. &nbsp;</div> <div>For specific initiatives, metrics to measure outcomes differed for individual projects: &nbsp;</div> <ul> <li>Auctions: Outcome was measured based on reduction in unit price compared to historical cost &nbsp;</li> <li>Tail spend management: Outcome was measured based on reduction in tail spend and reduction in number of tail-spend suppliers&nbsp;</li> <li>Renewable energy: Outcome was measured by calculating the increase in the proportion of electricity from renewable sources post implementation.</li> </ul> <p>&nbsp;</p> </div> </div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div> <div style="clear:both;"> <p paraeid="{6c137d00-48a5-40b8-ae3b-ad8efa1e0496}{80}" paraid="872280017"><span data-contrast="auto" xml:lang="EN-US">Many changes were in the form of improving processes and optimizing approach. These changes have been integrated into the client procurement team&rsquo;s way of working. For </span>e.g., the quarterly leadership governance framework has been implemented to ensure periodic top alignment between business teams and procurement.&nbsp;&nbsp;</p> </div> <div style="clear:both;"> <p paraeid="{6c137d00-48a5-40b8-ae3b-ad8efa1e0496}{90}" paraid="2093809555"><span data-contrast="auto" xml:lang="EN-US">Playbooks have been created wherever possible. For </span>e.g., a renewable energy playbook has been developed so that the strategy can be extended to more locations in the future.&nbsp;&nbsp;</p> </div> <div style="clear:both;"> <p paraeid="{6c137d00-48a5-40b8-ae3b-ad8efa1e0496}{100}" paraid="941188535"><span data-contrast="auto" xml:lang="EN-US">Procurement is now collaborating with the leadership on key business initiatives such as sustainability and inflation mitigation. As procurement is close to the supply market and has access to contract and </span>spend data, it is well placed to advice on managing inflationary pressures and future needs.</p> <p paraeid="{6c137d00-48a5-40b8-ae3b-ad8efa1e0496}{100}" paraid="941188535">&nbsp;</p> </div> </div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations? </em></h3> </div> <div><span style="font-size: 13.008px;">It is important to align procurement&rsquo;s goals with the goals of respective business units as well as the organization.&nbsp;</span></div> <div>In an increasingly unpredictable world, understanding the priorities of business as well as monitoring external developments helps anticipate challenges and deal with them proactively.&nbsp;</div> <div>&nbsp;</div> <div>Operating with a &#39;flat&#39; organization hierarchy that allows for rapid decision-making is important in times of crisis. Digitalization helps in unlocking huge opportunities and enables the procurement organization to reduce its effort on tactical activities, helping it focus on strategic priorities. Digitalization also empowers procurement because it increases ease of access to key information, which in turn enables rapid and accurate decision-making.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div> <h3><em>I&#39;m sure your company has many different processes and projects they are outsourcing. Why did you choose to submit this specific project? </em></h3> </div> <div> <div>While all projects require addressing different challenges, this project was unique due to the number and scale of challenges faced by the client. &nbsp;</div> <div>&nbsp;</div> <div>The Covid-19 crisis had a seismic impact on the retail industry, with stores forced to shutter and an escalating shift to e-commerce. The resulting furloughs and falling stock prices added to the sense of panic. External factors such as supply chain disruptions and trade tensions between US and China further exacerbated the challenges.&nbsp;</div> <div>&nbsp;</div> <div>Big businesses had to react with speed to this onslaught of external shocks as those who waited too long to adapt risked never being able to catch up. The client&rsquo;s procurement team partnered with GEP to steer the client through these challenges, which helped it emerge stronger through the pandemic. To achieve these results, GEP worked with the client on multiple goals like developing close supplier partnerships, managing costs, improving working capital, driving sustainability and optimizing the approach to capital expenditure.</div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Outsourcing: GEP - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-outsourcing-gep-0"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/north-america" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">North America</a></div></div></div> Thu, 13 Oct 2022 15:15:35 +0000 Future of Sourcing Awards 2226 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-outsourcing-gep-0#comments Innovations in Outsourcing: Scientist.com https://futureofsourcing.com/innovations-in-outsourcing-scientistcom <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Outsourcing_0.jpg"><a href="https://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_Innovations-in-Outsourcing_0.jpg" title="Innovations in Outsourcing: Scientist.com" class="colorbox" rel="gallery-node-2225-rw_rYxkNtCk"><img typeof="foaf:Image" src="https://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_Innovations-in-Outsourcing_0.jpg?itok=jI78IZ7K" width="624" height="325" alt="Innovations in Outsourcing: Scientist.com" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div> <div> <p><em><strong>This October, the&nbsp;<a href="https://futureofsourcingawards.com/?__hstc=215510152.344406f4865c40604cf6029be7e958e0.1543422516683.1570835886974.1570842947555.661&amp;__hssc=215510152.2.1570842947555&amp;__hsfp=847670889">Future of Sourcing Awards</a>&nbsp;will celebrate organizations and individuals that have shown innovation, leadership and transformation in categories that are critical to the sourcing industry. Interviews with the finalists provide helpful insight about their projects, the problem they sought to solve and the impact to their organizations.</strong></em></p> </div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <h3><em>Can you outline why your team embarked on this project and the problem that needed to be solved?</em></h3> </div> <div>Early on in our company&rsquo;s evolution we realized that compliance within the pharmaceutical industry was not fit for everyday R&amp;D, as it inadvertently delayed research and increased indirect costs. &nbsp;Scientist.com seized the opportunity to create a new way of addressing compliance in outsourcing. Our goal was to enable increased visibility, traceability and control when outsourcing services while reducing the administrative burden on those outsourcing these services, promoting relationships that speed up scientific research, thereby reducing the overall cost of projects.</div> <div> <div> <h3>&nbsp;</h3> <h3><em>How were things done originally and what was the inspiration to innovate the process?</em></h3> </div> <div><span style="font-size: 13.008px;">Prior to COMPLi, compliance approvals within research organizations often varied greatly depending on the organization and their appetite for risk. &nbsp;Smaller organizations with limited resources had to focus only on critical areas of R&amp;D (like clinical trials) and took a more hands off approach to what they deemed &lsquo;lower&rsquo; risk areas. &nbsp;For larger organizations, years of bureaucracy had created overly complex, slow, burdensome processes that managed the risk but compromised efficiency and slowed projects. &nbsp;In novel areas of science companies struggled to develop a fit-for-purpose process so focused on finance approvals vs. scientific innovation.</span></div> <div>&nbsp; &nbsp;</div> <div>This variation across the industry lead to extended timelines, increased costs and a constantly a moving target for suppliers as they had to customize everything to the needs of each individual client vs. applying the same standards based on the services they were providing. &nbsp;This also demanded increased FTE support and could delay the drug discovery process, which drastically increased the costs to the organization and ultimately patients. COMPLi addresses compliance and governance requirements at every critical step of the sourcing process to speed up drug research.</div> <div>&nbsp;</div> <div>Scientist.com &ndash; as the world&rsquo;s leading online marketplace for scientific services, we were able to act as an independent third-party facilitator to ensure the needs of all parties were heard, addressed and resolved. &nbsp;Our experience as an online platform provider&mdash;over 10 years&mdash;and expertise in the sourcing or regulated services, such as human biological samples (HBS), enabled us to understand industry needs and translate them into industry-wide functionality.</div> <div>&nbsp;</div> <div> <h3><em>What KPIs did you use to measure success for this project? (For example: performance, customer satisfaction, revenue, sales or relevant financial gains?)</em></h3> </div> <div>COMPLi&rsquo;s success rested on two components: user adoption and continued usage. Currently, the COMPLi suite is the cornerstone of Scientist.com&rsquo;s outsourcing capabilities, allowing pharmaceutical companies, academic labs or small biotechs to easily acquire the necessary services and/or materials to complete studies with external third parties. &nbsp;COMPLi also reduces the administrative burden on suppliers of these services, enabling effective relationships to be formed that speed up scientific research. Our entire client list, which includes most of the world&rsquo;s top pharma, over 100 biotech organizations, the National Institutes of Health (NIH) and 4,000 global service providers all currently use COMPLi when outsourcing through the Scientist.com marketplace. Since its inception in 2017, COMPLi has supported hundreds of millions of dollars of research and is now the preferred solution for multiple pharmaceutical companies to support the sourcing of regulated services.</div> <div>&nbsp;</div> <div> <h3><em>How do you plan to ensure that the new model remains relevant and adapts to the future needs of the market?</em></h3> </div> <div><span style="font-size: 13.008px;">Built in collaboration with our biopharma clients and network of suppliers, COMPLi continues to take marketplace needs into consideration as we expand it to cover even more research areas. &nbsp;Its design enables COMPLi to be applied to any regulated service. &nbsp;It is also possible to deliver fast and efficient updates based on external changes to regulations or internal changes required by clients to ensure the needs of tomorrow are proactively addressed today. &nbsp;Flexibility is a key component of COMPLi and has ensured that as more clients use it, they do so based on constantly evolving requirements. &nbsp;</span></div> <div>&nbsp;</div> <div>Moving forward, the plan is to grow COMPLi in the pharmaceutical industry so that more companies can ensure all sourcing is done in 100% compliance of their internal policies and procedures while delivering the value procurement brings through cost effective sourcing to save time, money and resources. &nbsp;Scientist.com has the very lofty goal of helping to cure all diseases by 2050, and the benefits COMPLi offers our clients is critical to us achieving that.</div> <div>&nbsp;</div> <div> <h3><em>What advice do you have for those who may want to implement this innovative approach in their own organizations? </em></h3> </div> <div>We think the future of procurement and outsourcing will continue the trend of digital transformation. &nbsp;Successful companies will embrace technologies, such as Scientist.com, to enable their procurement professionals to re-evaluate their strategies and extract new and enhanced benefits from their offerings. &nbsp;Also, listening to your customers&rsquo; needs and pain points should help guide your processes and offerings. Finally, make every attempt to engage with your customers when developing your new tool/policy or product, because at the end of the day they will be the ones using them, and this will only help to drive adoption and continued usage.</div> <div>&nbsp;</div> <div> <h3><em>I&#39;m sure your company has many different processes and projects they are outsourcing. Why did you choose to submit this specific project? </em></h3> </div> <div><span style="font-size: 13.008px;">As a key component of an online marketplace that connects researchers (clients) with suppliers of outsourced services (including regulated services), COMPLi offers distinct competitive advantages. COMPLi allows clients to compare suppliers side by side under a standardized set of pre-defined criteria, access new suppliers and their innovations quickly and easily and perhaps most importantly, retain a direct contractual relationship with suppliers under COMPLi&rsquo;s unique legal framework. This means clients can benefit from COMPLi without increasing their risk profile.&nbsp;</span></div> <div>&nbsp;</div> <div>On the flip-side, suppliers can communicate how they adhere to compliance and regulatory standards to multiple clients in a single process and instantly increase their client base through a pre-negotiated contract, which provides visibility to all clients and reduces delays, allowing suppliers to focus resources on value-adding activities rather than administrative costs. Plus, suppliers can retain and benefit from the direct contractual relationship with clients through COMPLi&rsquo;s unique legal framework.</div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/outsourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Outsourcing</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/future-of-sourcing-awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Future of Sourcing Awards</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/technology" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Technology</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/procurement" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Procurement</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/software" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Software</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Innovations in Outsourcing: Scientist.com - Future of Sourcing" addthis:url="https://futureofsourcing.com/innovations-in-outsourcing-scientistcom"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/north-america" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">North America</a></div></div></div> Thu, 13 Oct 2022 13:13:07 +0000 Future of Sourcing Awards 2225 at https://futureofsourcing.com https://futureofsourcing.com/innovations-in-outsourcing-scientistcom#comments