In the past, we’ve taken a close look at how the procurement maturity curve affects its focus. Two recent posts addressed issues concerning the evolving role of procurement savings, information and technology. In this two-part blog series, we’ll consider supply chain risk in the context of procurement’s maturity. We start by looking at supplier risk and the available methods to monitor and mitigate it. Then we’ll examine internal vs. external sources of risk.
What do Katelyn Ohashi’s “Perfect 10” floor routine and agile procurement organizations have in common?
Determine recently hosted an event as part of its Procurement breakfast series to discuss the whys and wherefores of Procurement Agility with valued customer RCI Bank and Services (part of the Renault group) and our implementation partner Segeco. We covered a lot of ground during this thought-provoking event at the Maison de l’Alsace on the Champs Elysées, Paris. What follows are the key takeaways.
Linking the Dynamics of Supplier Relationships with P2P.
In an environment of increased regulations and demand for compliance, organizations are placing their suppliers under increasing scrutiny. Yet, managing supplier information is often near impossible given the the inability of organizations to easily tie supplier information to procure to pay (not to mention contracts and enterprise data as a whole).
A look at best practices in managing supplier and contract lifecycles.
I recently had the privilege of participating in Ardent Partners’ third Annual CPO Rising 2018 Summit. The calibre of CPOs and procurement professionals who attend this annual event is outstanding, and there is a considerable amount of shared learning. The article here combines content from my presentation, concepts and ideas raised during the event, and feedback from the Q&A session. The net takeaway from the summit is, procurement as a practice is changing fast, and those who can think and act ahead of the curve will be that much further ahead.
Part One of this two-part series on procurement maturity looked at how procurement is (and likely always will be at some level) linked to savings, even as our perspective on those savings changes. But the scope of procurement’s role has expanded. Technology and data are accelerating procurement along the value continuum and expanding our contributions beyond the bottom line. In Part Two, we look at how procurement professionals can leverage tools to increase our organizational effectiveness — and influence.
After multiple years of transformation (first procurement, then digital), most of us have accepted the idea that we work in a state of perpetual change and self-examination. What are my company’s current practices? What am I doing to advance myself or my team to the next level? How does that compare to what my competition is doing? Isn’t this striving for growth what “procurement maturity” is all about?
Two organizations leveraging technology in pursuit of agility.
In Part One of this two-part blog series, Determine Chief Product Officer Julien Nadaud laid out the fundamental thinking and strategy behind what it takes to move toward a more agile procurement framework and operations. Part Two below delves into some of the specifics that two Determine customers used to streamline, modernize and “agilify” their organizations. As Ardent Partners points out, agile is the future of procurement success — here are some examples of how that looks.
Making the move from concept to reality.
In this two-part blog series, Determine Chief Product Officer Julien Nadaud explores what it takes to strengthen your procurement strategies and make them easier with just one word: agile. Part One looks at the groundwork required to rebuild your present agile procurement strategies, and in Part Two he’ll summarize two case studies surrounding specific examples of agility in action. The idea of “agility” is getting a lot of play in the procurement world these days, but it is real, achievable and what success will increasingly look like .
Customers, compliance and clicks: How procurement is reinventing retail success.
The retail industry operates in a high-visibility, consumer-focused environment. That brings with it a host of opportunities, but also exposes it to the vagaries and shifting whims of target audiences, which are increasingly demanding as well as sliced into ever smaller, more specific demographics. In order for retailers to be successful in a heavily competitive marketplace, they must adopt advanced procurement strategies and technologies that go far beyond the traditional focus on cost savings efforts alone .