Spend Matters welcomes a guest post from Shannon Lowe and Mark Schaffner of Verian. In Part 1 of this series, we identified the major sources of risk most organizations face when selecting P2P software: supplier risk, software risk, and project risk. In this concluding segment, we'll explore some proven strategies to help reduce these risks during your evaluation process. Reducing Supplier Risk A decision to implement P2P software starts with identifying a capable supplier. There are a lot of faces out there. Our advice is to consider only those vendors who demonstrate "industry experience" and "experience in your industry." A […]
If I want to show how my operations in Malawi or Indonesia are really benefitting the local economy, I’m going to need robust, credible data. I need to show who I’m buying from, have information about those organisations, and increasingly, we’d suggest, be able to go a tier or two down the supply chain to strengthen the argument. That last point is critical for some buyers who find that certain first-tier goods or services inevitably need to be purchased from other large corporations. So the onus will be on both buyer and that first-tier supplier to show that the money is flowing down ultimately into more local pockets.
Slow, slow shipping... Maersk Container Vessels Sailing Slower Than 1870s Clipper Ships -- There are many commodities and firms that are used as bellwethers of national or global health, but one that is often consistently accurate as a measure of international trade is the container shipping industry. How ironic, then, that faced with dire economic challenges, many lines, including A.P. Moeller-Maersk, are operating their vessels in "slow steaming" mode to conserve fuel (and hence costs) to such an extent that they are sailing more slowly on the Asia-to-Europe route than the great sailing clippers of the 1870s, such as the […]
My colleague Peter Smith of Spend Matters UK/Europe has the news that CPO Agenda is shutting down. While CIPS has tried to spin the death of CPO Agenda by suggesting it will be launching a new publication titled Supply Business (supposedly aimed at finance and other business stakeholders outside of procurement), we see it in a different light. But first the news and some context. In the above-linked post, Peter observes: CPO Agenda was launched back in Spring 2005 by CIPS (the Chartered Institute of Purchasing and Supply) in partnership with Redactive Publishing, under editor Geraint John. It was intended […]
Spend Matters PRO is the only source of analyst research and opinion that consistently provides the level of insight procurement practitioners, providers and consultants need to make decisions. Sign up today for a free trial. Contact Sheena Moore (smoore (at) spendmatters (dot) com). Today on Spend Matters, we feature an excerpt from a recent PRO analysis authored by metals sourcing expert, Lisa Reisman: Dodd-Frank Conflict Minerals Law: Headaches for Metal Supply Chains. As the old adage goes, "the devil lies in the details" – and that aptly describes the challenge many diversified US manufacturers find in meeting the new conflict-free […]
All too often, we believe companies don't put enough emphasis overall on supplier management aside from pet initiatives (e.g., supplier diversity) and fire drills (e.g., supply risk). The problem lies with a silo-driven mentality toward vendor management initiatives that permeates too many procurement, supply chain and finance organizations today. Fortunately, there's hope, and companies can model an idealized supplier management function based on what's possible – not just an urgent need that needed to be addressed yesterday. Our latest Spend Matters Compass Research paper, Beyond One-Off Initiatives and a Virtual Vendor Master – Advanced Use Cases for Supplier Management tackles […]