The next topic we must address in considering the basics of attacking marketing spend is potentially the most sacred of all: agency selection. In considering how best to engage in this area, it is important to consider the costs of both sides of going through the process. For agencies, the costs to manage and respond to an RFP can be quite high. Spend Matters has learned that some agencies estimate their total cost at around $200K per RFP – on average!
Spend Matters welcomes a guest post from James Hutchings, at Mintec Ltd. Back in July, we specifically looked at rubber used for tire manufacture, but let's take a more general look at the rubber marketplace. The world's rubber is sourced from two very different origins. 40-45% is still produced naturally (in the form of latex from the sap of the rubber tree), mostly from Southeast Asia, but the majority is now produced from crude oil derivatives such as styrene and butadiene. Tires, as mentioned in our earlier post, are the primary use for both natural (80%) and synthetic (55%) rubber. […]
Afternoon Coffee: 2013 vs. 1937, USPS Loses $5.9 Billion, Meat Prices Rise, Managing Marketing Spend
Today on Spend Matters PRO: How to Attack Marketing Spend (Part 2) -- The next topic we must address in considering the basics of attacking marketing spend is potentially the most sacred of all: agency selection. In considering how best to engage in this area, it is important to consider the costs of both sides of going through the process. For agencies, the costs to manage and respond to an RFP can be quite high. Spend Matters has learned that some agencies estimate their total cost at around $200K per RFP – on average! Will 2013 be 1937? 2013 Looks […]
On Friday, we decided to have some fun with the unfortunate demise of Hostess. Per the video, I actually did go to the grocery store during a lunchtime jog to see if they had any Hostess products left. I was amazed that not only did they have a decent selection, but that the products were so inexpensive. I was able to scoop up over ten pounds of Hostess treats for less than twenty bucks (which added to the calories I burned on the run back to the office, no doubt). One could look at this situation and simply place the […]
This post is based on material contained in the following Spend Matters Compass Series brief: Beyond One-Off Initiatives and a Virtual Vendor Master – Advanced Use Cases for Supplier Management. It's important to note that what we're calling "closed registration" elements of supplier management also can apply to open registration processes – i.e., supplier "walk-ups" to a portal. The good news is that since properly implemented open registrations seamlessly intersect with the onboarding process of closed registrations, these tactics and capabilities deliver the best of both worlds when you guide suppliers through the hoops. Integration – the integration of internal […]
Please click here for the first installment of our interview with Jeremy Hildreth. We've also covered the news of Monitor's bankruptcy extensively on our public site (here, here, and here) as well as on our subscription site, Spend Matters PRO, from an instructive supply risk and services procurement vantage point: Monitor Group Goes Bankrupt: Why Services Procurement and Risk Management Best Practices Matter. Jason Busch: What were you guys and Monitor hired to do, precisely? Jeremy Hildreth: Metaphorically, the idea was that we'd give the Libyans elocution lessons and teach them to "dress for the ball," as the head of […]