Can You Imagine A Business Without Procurement?

By: Mickey North Rizza

Can you imagine a business world without Procurement? Some of you say, “it is possible” and others are a firm, stubborn, “No.”

It’s possible to have a world without Procurement. In the future Procurement may be replaced by technology that predicts the right buyer/supplier relationships, selects the relationship, monitors the progress and outcomes, and resolves issues that might occur. In today’s world technology is starting to replace much of our everyday processes, both consumer and business processes. Think about it in terms of consumer – I now do my mortgage and banking online, with my computer or smart device vs. going to the bank, starting a relationship, opening an account and working directly with the banker to set up the mortgage. While my relationship is very important to the bank, the managing of it and customer service can all be done by technology with little touch by the bank and me.

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Adoption: Asking the Right Questions

By: John Ryan Shaw

Quantifying the value of project activities such as communications, training, coaching and building a sponsor network can be difficult.   Most professionals intuitively appreciate that these are valuable activities that can help make the implementation of a new process or tool more successful.

In practice though, many project leaders struggle to determine how important they are and when they should be allocating their limited budgets to those activities.  This is natural and understandable because the value of these activities varies from project to project.

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2015 is Easier to Navigate with Gartner’s Magic Quadrant for Strategic Sourcing Application Suites

By: Mickey North Rizza

As a 2015 present to businesses globally, Gartner has published their 2015 Magic Quadrant for Strategic Sourcing Application Suites.  The ‘MQ’ as it is affectionately known, is perfectly timed for executives to find, short list, evaluate and select their Strategic Sourcing Application Suite Technology Provider in early 2015.

In my previous role as Supply Chain Research Director with Gartner, I came to appreciate the time, dedication and sheer hard work that goes into producing the MQ.  Months of in-depth vendor interviews and product reviews coupled with endless customer references go into presenting an accurate map of industry leading vendors at that point in time.

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Modernizing Public Sector Procurement

By:  Dan Warn

Public sector procurement in North America is ready for massive change. Are you?

Ontario recently implemented a modernized and streamlined procurement process that is open, fair, and most of all, transparent. This new model of procurement brings efficiency, cost savings, and the ability for teams to help drive local and national initiatives. Technology acts as a catalyst for enabling this transformation, but at the core, success lies in the people and processes behind the technology.

What can a modern public sector procurement team do?

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4 New Year Predictions for Procurement Technology

By:  Mickey North Rizza

2015 is right around the corner, and with a new year comes fresh perspectives and insight into what the coming year has in store.  My take: Skyrocketing customer expectations coupled with the availability of more sophisticated supply management technology gives procurement a bright future.

Curious as to where the industry is headed? Here are my top four predictions for procurement technology in 2015:

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Procurement’s holiday wish list

By: Mickey North Rizza

With the holidays right around the corner, your wish list has probably been baked for weeks now.  But have you even started your work-wish list yet?

I’ve spoken with countless procurement executives these past few months about the most-pressing challenges they expect to face next year and the goals that they hope to achieve in 2015. Through these conversations I’ve gained a pretty good sense of what’s likely on your procurement wish list…

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Best Practices for Government Procurement

By:  Dan Warn

Every procurement executive wants to deliver savings, effectively manage strategic supplier relationships, and accelerate procurement cycles- all while proving their value to both internal and external stakeholders. And while risk and mandates are still important considerations in government procurement, cost containment and resource optimization are the top concerns on an executive’s agenda.

The question is how do procurement executives act on this? Here are five best practices to consider:

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Managing Your Supply Chain in the Face of Multi-Channel Retailing

By: Mickey North Rizza

Lately, the retail landscape has been evolving so rapidly that it seems as though markets can barely get used to one way of selling, when a whole new form of commerce erupts. Cue multi-channel retailing: the game changing phenomenon that requires a seamless customer experience across all of a retailer’s selling channels.

As multi-channel moves from innovation to necessity, CPOs have been forced to rethink how their supply chains are organized. Networks have been scrutinized carefully to determine the best ways and places to store inventory, as well as ship it at breakneck speeds. Continue reading

What if Billy Beane Was a CPO?

Procurement lessons from Moneyball

By Paul Martyn, VP of Supply Strategy at BravoSolution

For starters, he probably wouldn’t be as famous as he is today. That’s just the reality when comparing Major League Baseball to procurement.

But we’d bet that he’d still be a winner – and likely, a revolutionary CPO.

Take note of the teams still alive in this year’s MLB playoffs: The Royals, Orioles, Cardinals and Giants.  None of 2014’s five highest-spending organizations remain (we’re talking about you, New York, Boston and LA.).  And only one of the remaining four – the St. Louis Cardinals – ranks in the top 10 for payroll.

His best-selling book and hit movie aside, Billy Beane’s famous Moneyball philosophy continues to have a real and lasting impact on Major League Baseball.  That’s obvious.  What’s less obvious: the practical procurement lessons hidden in Billy Beane’s Moneyball philosophy – and how CPOs can take action today.

Here are the top six CPO best-practices from Bill Bean: Continue reading

Get On the Same Page with External Stakeholders

This is the second blog in our new series called “Get on the Same Page” where we discuss tips, techniques and benefits of better aligning with the groups of people that procurement comes into contact with every single day. Stay tuned and let us know what challenges you’re facing!

Procurement teams are stressed – this isn’t news to anyone. Budgets and employees are stretched thin, and procurement can barely look up from their to-do list without something else being added on. With all of this commotion, relationships and communication with external stakeholders, such as customers and investors, often get cast to the wayside, causing a vicious cycle of even more stress and chaos.

However, communication is one of the core tenants of business, and cannot be forgotten. Taking the time to cultivate relationships with external stakeholders can foster innovation, efficiency and savings – satisfying more people in the process. Continue reading