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A Corcentric Company.

June 25, 2019

Investing in Corporate Governance to Ensure Compliance

Investing in Corporate Governance to Ensure Compliance

Three best practices you can use right now.

Procurement often uses the terms governance and compliance to describe the “law and order” part of our responsibilities. Governance establishes the rules for enterprise purchasing and spend management, while compliance measures how well distributed buyers adhere to those rules. In a perfect world, proper governance would lead to consistent compliance. In the real world, there is often only a loose connection between the two.

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June 4, 2019

Compliance advice for those who herd cats

Compliance advice for those who herd cats

We’ve all heard (or used) the expression that managing some groups of people is “like herding cats”. For cat people in the reading audience, this requires little explanation. Cats do what they want, when they want, only if they want. The expression wouldn’t have caught on if it weren’t true, which means there are plenty of feline humans out there too. If you’re in procurement, I’m sure you’ve met quite a few of them.

We put a contract in place, and the “cats” buy from someone else. We establish a process, and they do whatever they like. It can be infuriating. But, if we approach our internal cats with the right attitude, they also present us with unique opportunities to improve procurement’s performance, impact and influence.

Here is some advice for those days when you find yourself unavoidably herding cats:

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May 28, 2019

Concentric Supplier Risk Management

Concentric Supplier Risk Management

Executives in all functions and lines of business are driven to create shareholder value, a challenge that increasingly requires them to take calculated risks that often involve the supply chain. From a shareholder’s perspective, nothing destroys the perceived value of an investment faster than negative press, even when it is the unintended result of ‘pushing boundaries’. In some cases, the criticism may not even be due to a company’s own actions, but rather those of their suppliers (or suppliers’ suppliers).

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April 23, 2019

Can the Whole Foods and Amazon Grocery chains exist under the same corporate umbrella?

Can the Whole Foods and Amazon Grocery chains exist under the same corporate umbrella?

Managing procurement for three vastly different retail models.

Amazon recently announced that they will open a “traditional” grocery chain. This is in addition to their 2017 acquisition of Whole Foods and their experimentation with Amazon Go, a fully automated (i.e. cashier-less) convenience store-style market. All three will meet a similar kind of consumer need, just in a different way. This will likely result in the creation of three completely different cost models and profitability rates – not to mention three very different procurement and supply chain operations.

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April 18, 2019

Next Generation Buyers: Be Predictive and Proactive!

Next Generation Buyers: Be Predictive and Proactive!

Agile & Strategic Wins the Race

In the not too distant future, quick and dirty financial gains will no longer be the only value-creation lever considered to evaluate buyers and their performance. So long Savings…the new challenge facing buyers will be the multiplication and diversity of the objectives and KPIs to which they will be held accountable.

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April 2, 2019

How much can procurement change on their own?

How much can procurement change on their own?

Three ways collaboration creates procurement transformation.

Procurement has been trying to make changes to our processes, priorities and brand identity for years. Our suppliers want us to be more open to contact and out-of-the-box ideas. Our internal stakeholders want us to move faster and to let their input play a larger role in supplier selection than RFP performance. Distributed buyers want speed, convenience and autonomy. Finance wants more savings that they can trail all the way to the bottom line, and marketing and HR mostly just want us to go away.

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March 21, 2019

Suppliers with influence put money in the bank.

Suppliers with influence put money in the bank.

Part 2 of 2: Trading your “alpha” tendencies for a more shared approach to success.

In this two-part series, Determine Chief Product Officer Julien Nadaud tells how one word — influence — can empower procurement strategies to literally put top value into the outcomes all parties, including suppliers, seek. In Part 1 he explored expanding supplier visibility into overall spend; in Part 2, he looks at two case studies showing why influence, value and collaboration are mutually inclusive.

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March 19, 2019

Suppliers with influence put money in the bank.

Suppliers with influence put money in the bank.

Part 1 of 2: You don’t have to act like a control freak to wield procurement influence.

In this two-part series, Determine Chief Product Officer Julien Nadaud tells how one word — influence — can empower procurement strategies to literally put top value into the outcomes all parties, including suppliers, seek. He explores three case studies that prove his point, starting with how one customer expanded its supplier’s visibility into overall spend.

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March 14, 2019

An Evolving Theory of Procurement Motivation.

An Evolving Theory of Procurement Motivation.

The podcast series that’s all about minding your business in contract management and source-to-pay.

The new Determine ebook, The Procurement Maturity Curve: A Four Stage Hierarchy of Value, pulls together multiple perspectives in an attempt to better understand procurement’s maturity progression from savings and compliance all the way up to supplier collaboration. To bring a European point-of-view to this topic, I had a Determine OutLoud conversation with Eléonore Roucaute, Determine’s EMEA Marketing Manager.

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