Category Archives: Procurement Research

More Procurement Myths Come Tumbling Down

- April 10, 2015 8:42 AM | Categories: Procurement Commentary, Procurement Research

763A6C7CE2 This week on our Chief Procurement Officer website, we rounded out the top 10 procurement myths and began another 10 (at least). Yesterday, we published myth No. 11 on CPO, When it Comes to Creating Value, Sourcing is Better Than Supplier Management: Procurement Myth No. 11. And, earlier this morning, we added No. 12, Efficiency and Effectiveness – You Can’t Have Both: Procurement Myth No. 12. There is many more myths to come, too. Pierre Mitchell, chief research officer and author of the series, had about a dozen more myths to dismantle for the procurement world. So definitely stay tuned to Chief Procurement Officer for what's coming next.

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Exploring Work Market: Managing the Freelancer Lifecycle

8RHJJUNLZL From both procurement and HR perspectives, the systematic management of freelancers is arguably significantly more complex than managing the traditional contingent workforce that is employed by a staffing intermediary. Companies – or managed services partners administering programs on their behalf – must fully consider the same types of compliance and worker classification questions that come up in a staffing situation and the overall lifecycle associated with workers, from creating an initial job description/requisition through to selection, onboarding and offboarding. This Spend Matters brief continues our analysis of the Work Market platform, specially designed for freelancer management from the ground up, exploring how procurement and other users can more effectively and efficiently take advantage of freelancers as part of their contingent workforce program.

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We Are Who We Are: Top 5 Procurement Personalities – Part 2

OX253EDR6R In the last edition of this multi-part series, we started drilling into the top 5 personality styles for procurement. In this edition, we’ll finish off the analysis and discuss a few implications. Coming into the No. 2 spot is the ENTP (Extroversion, Intuition, Thinking, Perception). Approximately 12.1% of procurement professionals in a recent personality study were ENTPs (compared with only 3.2% of the general population!). The ENTP, typified as the Visionary or Debater, is defined as ”quick, ingenious, stimulating, alert, and outspoken. Resourceful in solving new and challenging problems. Adept at generating conceptual possibilities and then analyzing them strategically. Good at reading other people.”

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Exploring Work Market: Creating Talent Pools and Campaigns

- April 1, 2015 2:25 AM | Categories: Procurement, Procurement Research, Vendor Snapshots

evaluation quality survey Work Market is aiming to become the Fieldglass, IQNavigator and Beeline (all wrapped up in one) of the freelancer management market. The overlap with VMS – and even some human capital management – tools is considerable if you dissect the platform’s actual capability. Ultimately, this could lead to Work Market even competing in the more traditional market segment of managing staffing-based contingent labor and SOW-based staffing and consulting-led projects. Of course, others (including Beeline) have acquired or are building capability of their own in the freelancer and independent consultant/contractor market as well. In this second installment of this Spend Matters PRO series (read the first here) looking under the product and technology covers of Work Market, we start to double click on the Work Market platform and user experience.

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Top 5 Procurement Personalities Revealed and Why Some Will Surprise You – Part 1

activity-aviation-fly-2302-825x550 When I was originally formulating this simple personality poll, I was expecting one personality style would prove dominant in procurement. It indeed came in at No. 3 on the list of 16 different possible personality types, but the rest of the top 5 were more surprising. I wrote about the top personality style already, but wanted to give a little more detail on the top 5 styles that actually make up more than 60% of procurement professionals, based on the nearly 2,000 that we polled. I found the results somewhat surprising and will offer some insights to these generally frustrated and overworked leaders.

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Our In-Depth Analysis of Work Market Begins…

DUGHLO7780 Today we began our multi-part PRO series on Work Market, the online workforce management system provider. Written by Jason Busch, founder and managing director, Part 1, titled Exploring Work Market: A Procurement Platform For a Post-VMS-Services World, serves as an introduction to Work Market's solution and platform. Make sure to check out the full article! And, stay tuned tomorrow for Part 2.

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Exploring Work Market: A Procurement Platform For a Post-VMS-Services World

- March 30, 2015 2:51 AM | Categories: Procurement, Procurement Research, Vendor Snapshots

platform-public-transportation-rails-3849 Work Market has tuned its product marketing pitch to a perfect procurement harmonic. It hits every note when describing its target market, discussing the nuances of previously unaddressed customer needs and above all, hitting on its “secret sauce” that makes it an ideal fit as an adjunct to VMS solutions in tackling the broader category of services spending. More importantly, Work Market backs up its argument with a freelancer management technology solution that matches the customer pitch with absolutely zero hyperbole or bravado. In this multi-part Spend Matters PRO research brief, we introduce readers to Work Market’s solution and platform and discuss why technology is such a critical enabler to encourage the adoption of a non-staffing contingent workforce.

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Procurement’s Personality Revealed! And it’s a Clear Winner

- March 25, 2015 8:37 AM | Categories: Learning / Research, Procurement, Procurement Research

circle-colorful-colors-2091 It's important to understand personality types in any procurement organization. It's personally beneficial, too – self-assessing your personality traits can help you gain self-awareness into your behaviors and how they might impact your job performance. But no one had measured such a thing in procurement before, so I teamed up with The Institute for Supply Management to survey this, and the results are in! We had an overwhelming response, with nearly 1,800 participants. Check out what the top personality type in procurement is!

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$#it CPOs Say – A Research Report

- March 18, 2015 10:37 AM | Categories: Analysis, Procurement Commentary, Procurement Research

eat-food-grimace-2261 Pierre Mitchell, chief research officer, has heard his fair share of CPO keynote speakers close with such hollow, common-sense phrases as, “It’s all about the people – get the best team,” and “Ensure senior management commitment.” He might be a bit jaded at this point as a result, but was inspired enough to write his own parable, This is How Procurement $#it Happens, which is now available for FREE download here.

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Bringing Services Procurement Management Into the 21st Century

design-desk-drawing-2172 We recently partnered with ISM for a new study, and the findings revealed that services procurement and supply chains management is woefully behind both direct and indirect materials processes. And knowing is the first step toward addressing this conundrum as Jason Busch, founder and managing director, and Pierre Mitchell, chief research officer, penned in Applying Supply Chain Rigor to Contingent Workforce Management in response to the study’s findings. Get your copy here!

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Segmenting Your Services Procurement Spend – Contingent Workforce and Beyond

abstract-balls-blue-1341 Within procurement, it goes without saying that you can’t control what you can’t see. In modern supply chains, firms gain visibility into their spending and internal processes based on the process of segmenting spend and suppliers – and then influence each specific spending area with the appropriate management techniques and tools. This is true of both direct and indirect goods (and related services, of course).

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Create and Use Big Data: Dispatch From Procurement Leaders’ America’s Congress

IMG_2215 I’m at the Procurement Leaders' America's Congress in Miami today. Having sat through the morning sessions so far, I can say the trip has been worth it already, not even factoring into the one-on-one discussions and catch-up with old faces and new. Indeed, the number of ideas and takeaways I’ve jotted down from the keynotes has been off the charts. Rio Tinto’s Managing Director and CPO Ramsay Chu stole the show this morning with story after story about data-centered initiatives including how to create and source new information that can take analytical problem solving in entirely new levels.

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