I will never forget the first time I set foot in an Accounts Payable department. I was working as the lead consultant on a project to completely transform and rebuild a company’s procurement function. Everything was going exceptionally well: processes, reporting, technology implementation, and upskilling the current team. The CPO mentioned to me that I should stop in and introduce myself to the AP lead before the project moved much further forward. I dutifully did so – although when I walked onto the floor and heads suspiciously popped up from cubicles all around me, I knew something was up.
Legal, procurement, supply chain—oh my!
Visiting some retail clients during the holidays, I was struck by the impact of the accelerated shift from “bricks to clicks” on procurement, supply chain and legal. It’s no secret that recent holiday shopping sales showed a continuing significant shift to online buying habits. Actual physical toy retailers are nearly nonexistent, mobile phone retailers are all online, booking holidays is a 100% online pursuit, banking, grocery and now urgent purchases are easily accessible for online same-day delivery.
This is not a new phenomenon, but I was surprised by how unprepared indirect procurement or GNFR (goods not for resale) is for this change.
So what is the impact on GNFR, supply chain and legal?
Featured Resource: How supplier management is impacting organizations more than ever.
Advice: It helps to treat suppliers as customers. That seems basic, but consider why so many organizations are just now adopting that attitude. Truth is, supplier management is evolving fast; it’s critical to not only catch up, but to get ahead of the curve.
The United Nations has declared December 9, 2016 “International Anti-Corruption Day” – an effort aimed at raising global awareness of the social and economic impact of corruption, particularly in the developing world. As they explain on their website, “Every year $1 trillion is paid in bribes while an estimated $2.6 trillion is stolen annually through corruption – a sum equivalent to more than 5 per cent of global GDP.”
Salon Solutions is always an exciting event, and a great chance to hear the latest buzz and get a feel for what’s going on in our industry. As Senior Solutions Strategist for Determine in France, I am pleased to say that this three-day show in Paris was hugely successful in terms of attracting attendees to our booth and engaging them on a personal level. What’s more, speaking at various events was a chance to share our vision and technology around Procure-to-Pay with a much wider audience. The following six key factors for success are from my presentation during the Best Practices Round Table.