Spend Matters welcomes a guest post from Nick Peksa, at Mintec Ltd. On the December 3, 2012, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) delisted 59 energy products. There was no open interest in these contracts. One of these was the New York Harbor Ethanol Futures - New York Harbor is a key hub for the import, storage and distribution of ethanol on the East Coast. So this reflects a physical market for delivery on a 36-month forward-rolling contract. "The biofuel industry was pleased that Congress in the hard-fought fiscal cliff legislation approved several measures to support biofuels. […]
b>"This incident rocks our faith in the retail food chain and its ability (or even intention) to ensure a fair deal for consumers." Supply Chain Accountability & Tesco: A Horseburger with Fries, Please! -- Tesco, of course, apologized immediately after the news became a scandal, taking care to ensure that the world knows that not only Tesco but "our supplier" is also at fault. The full apology was published on Tesco's Facebook page and included a promise: "We will find out exactly what happened and, when we do, we'll come back and tell you. And we will work harder than […]
By becoming a better-documented, more knowledgeable supplier of parts, components, etc., you are strengthening your competitive positioning. Tying the product and vendor data findings to your CRM solution (both what you have under contract and what you are proposing) to proactively enrich the reporting offered to clients and prospects, you can turn the 3T/G investment into a sales edge.
This post is based on the following Spend Matters research paper: Procurement Systems Integration Within the Enterprise: Exploring Integration In The Cloud. Readers can download this paper (registration required) for free in the Spend Matters research library. In one organization that Spend Matters interviewed recently, a primary objective of P2P integration was to drive more granular and accurate cost accounting and chargebacks to stores on a location-by-location basis while simultaneously enhancing visibility into overall spending and tying orders to delivery. This organization drove its primary P2P integration objectives to focus on three system types: financials, warehouse management system (WMS) and […]
BravoSolution recently partnered with Ardent's Andrew Bartolini to develop a simple, Excel-based category scorecard. The goal is to help companies identify optimal sourcing and related opportunities through comparative category opportunity analysis beyond just looking at the numbers. In explaining the scorecard approach he's taken, Andrew notes that "the category sourcing scorecard was designed to rank a wide range of direct, indirect and service categories ... the responses given must be viewed in the context of a specific sourcing team and group of categories." Our observation is that the thing is a cleverly simple tool – only 22 questions long – […]
In only a few years time, Coupa has gone from a purchase-to-pay (P2P) upstart to the fastest growing eProcurement provider, besting the growth of companies many times its size in new customer wins, adoption levels and percentage revenue increases, among other metrics. In a recent press release, Coupa shared some figures around this growth, including an increase of over 100% in annual revenue and a tripling of spend going through its platform. These numbers are significant considering that all of this is organic (i.e., not through acquisition). Coupa's platform is both their best asset and strongest growth inhibitor to an […]