If you're stuck in the office this Wednesday and next, I've got a suggestion for spending a couple of hours in accelerated learning mode. And that's to listen in to two live webinars taking place on each day. The webinar I'm speaking on, run by Zycus, is titled Five Best Practices Towards Contract Compliance. It kicks off @ 2:00 EDT on Wednesday afternoon (July 15th). The second webinar, hosted by AMR Research, is titled "Supply Management BPO: Why Business and Technology Transformation is Critical for Long-Term Success" or, in Phil Fersht's words, Everything you need to know about Supply Management BPO (but never dared to ask). Phil's webinar kicks off @ noon EDT on the following Wednesday, July 22nd.
For the contract management webinar, the part that I'm leading up will tackle the changing contract environment today and how we tend to underplay the role of contract management when it comes to cost control, savings and overall organizational risk. For example, did you know that AIG's downturn was largely the result of what I'd posit was a failure to fully understand the risks inherent in the contracts it was entering into back in the 2005 timeframe? Or did you know that failures to monitor commodity and currency market volatility are contracting and contract management issues -- not just a failure to pursue the right hedging or sourcing strategy in the first place? In short, no longer is contract management just an issue for legal types to wrestle with (or procurement to pursue as a hobby). It's a critical topic that CPOs, CFOs and other executives in the organization must consider when it comes to reducing cost and risk.
For the AMR webinar on procurement BPO, my good friend Phil will be joined by Mickey North-Rizza, AMR's "supplier relationship management guru," according to Phil (a statement with which I would concur). Ruby Jivan, BP's Global Procurement Operations Director, will be joining in as well. In his blog post pimping himself (something Phil is a master of), he notes that the webinar will feature AMR's latest analysis of the "market dynamics in supply management business process outsourcing, based on data from over 200 live engagements and multiple demand-side customer studies". It will also discus "whether outsourcing is a true option to provide access to new technology and process acumen" and "will also touch-upon the service provider landscape and competitive dynamics fueling market growth."