Services Procurement Secrets: How to Use Category, Market, and Pricing Intelligence
Categories: Category Intelligence (Direct), Category Intelligence (Indirect), Services Procurement & Contingent Labor Management | Tags: L1, Sourcing and Categories
On Friday at 1:00 PM CT, Pierre Mitchell and I will be co-presenting a Spend Matters “Ask the Expert” webinar that we’re opening up beyond the Plus/PRO community (for this week only) to qualified practitioners. We’ll be spilling some pretty hefty tricks of the trade at Services Procurement Secrets: How to Use Category, Market, and Pricing Intelligence.
Our premise is that category, market, and pricing intelligence will become increasingly important for services procurement categories, including (but not limited to) contingent labor. And there are lessons we can take from other areas, including direct spend, as we explore why.
The manufacturing, food and CPG industries have gotten progressively “smarter” in the past decade by using market intelligence on pricing (from market indexes in contracting to statistical forecasting) to manage commodity risk and exposure – and drive better procurement outcomes.
Yet most companies are still sourcing and managing services-based categories, (e.g., contingent spend, consultancy services, legal spend, marketing) without even 10% of the intelligence they have around spend in their core business.
During this webinar, we’ll share our perspective on where services procurement market intelligence is headed including:
- Why market and category intelligence matters for services spend
- What type of category, market, and pricing intelligence companies should collect (including for SOW and project-based spending areas)
- Leveraging tactical contingent spending insight (e.g., overcoming and normalizing for skill profiles and generalized bill rates)
- How to embed intelligence into a VMS and other services procurement/procurement technologies
- Category and contracting strategies leveraging market data
- Lessons from direct materials categories & manufacturing
- What to expect in the next decade
We know the timing is late for you folks in Europe – and we also know the general European work ethic is looking more French than German these days, so we won’t expect to see you in the office at that hour on a Friday night. But even if you can’t attend, you should sign up to receive both the webinar presentation and an embedded market intelligence assessment checklist. You’ll also be able to watch the recording of the webinar at your leisure.
Remember, this webinar is practitioners only (and all Plus/PRO members). Register today for Services Procurement Secrets: How to Use Category, Market, and Pricing Intelligence – and we’ll hope to see you Friday!
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