Procurement organizations are reportedly wasting billions each year due to inefficient practices. U.K. companies, specifically, are losing $79.5 billion a year, according to research from blur Group, a cloud software and managed services solution provider. That’s nearly $218 million wasted each day due to what blur Group called procurement fraud, unmanaged contracts, maverick spending and inefficient internal management and delivery processes.
Category Archives: Procurement Strategy & Planning
Spend Matters welcomes this guest post from Anthony Ryan, head of procurement operations at eir, in which he discusses overhauling the telecommunications company’s commodity structure to the UNSPSC taxonomy.
Our spend analysis process was not easily extensible, difficult to administer and did not deliver the clearest picture of spend. The need for a standardized method to categorize items was obvious, moving to a structured taxonomy such as the United Nations Standard Products and Services Code (UNSPSC) presented a logical solution.
In the first part of this Spend Matters Conversation, Founder and Head of Strategy Jason Busch talks with SAP Ariba President Alex Atzberger about how to understand the digital supply chain. This second installment explores how this relates to procurement and what strategies organizations can implement.
BravoSolution & Puridiom Acquisition First Take: SWOT Analysis, Customer, Partner & Competitive Considerations
BravoSolution, a procurement technology suite provider historically focused on delivering analytics, sourcing, supplier management and contract management solutions to private and public sector customers in Europe and North America, recently announced its acquisition of Puridiom, a procure-to-pay (P2P) technology provider. In the coming quarters, the transaction will broaden BravoSolution’s organic footprint and provide the organization with greater control over the future of developing an integrated source-to-pay (S2P) suite instead of having to rely on partner solutions to fill missing gaps. This Spend Matters PRO research brief provides a BravoSolution customer, partner and competitive landscape analysis and considerations based on the transaction, as well as a SWOT analysis (with the Puridiom asset).
The future of procurement is digital — but how do we get there? In this first Spend Matters Conversation, Founder and Head of Strategy Jason Busch talks with SAP Ariba President Alex Atzberger about how to understand the digital supply chain and what strategies procurement can use to respond.
APICS recently launched a new certification program: Certified in Logistics, Transportation and Distribution (CLTD) aimed at professionals in the rapidly growing logistics sector. APICS Senior Director of Professional Development Bob Collins (CFPIM, CIRM, CSCP) answered our questions on why the supply chain management professional association decided to create and offer this new program. Below he also shares information on what logistics, transportation and distribution practitioners need to know about the CLTD certification and what qualifications professionals need to partake in it.
Business travelers can end up spending a lot of time filling out expense reports after returning from a business trip. Employees with more experience traveling and more knowledgeable about a company’s travel policies may be able to complete this task quicker than those who travel less frequently. Concur’s new State of Business Travel report details how different types of travelers — from the savvy business traveler to the cautious planner — complete expense reports and how long they take to do so.
The world is undergoing a fundamental transformation to a services economy, fueled primarily by the digital disruption happening within our personal lives and within industry. Within business, digital technology is allowing companies to unbundle and rebundle their value chains (i.e., physical goods, information, money and people) in innovative new ways that can make those value chains more valuable by not only making them smarter but also making them more flexible, personalized and on-demand for the customer who craves the ideal of “free, perfect, and now.” And the key concept in making this happen is the concept of the service.
More Business Travelers Turn to Home-Sharing Services: New Concur Report Identifies Trends in Corporate Travel Market
Business travelers are increasingly using home-sharing services like Airbnb for overnight business trips. Concur’s recent State of Business Travel report shows a 56% growth rate for home-sharing services among business travelers between the beginning of 2015 and beginning of 2016. The Concur business travel reports shares insights from the millions of end-users that turn to Concur’s business travel and expense management solutions — users who expensed $76 billion in 2015 through the provider’s software
We are in the middle of a great period for procurement and supply chain books, with several very impressive examples being published over the last two years or so. (We’ve linked to our overview of some of those at the end of this article). Now, there is another impressive publication to add to the list. "Legal Blacksmith – How to Avoid and Defend Supply Chain Disputes" has a different perspective to any book we have seen previously in our sector.
Extreme weather events, including typhoons, heatwaves and wildfires, are becoming increasingly more common due to climate change. Such events could cause major disruptions to business and a company’s supply chain. One type of extreme weather event FM Global, a commercial property insurance provider, is calling attention to in a new report is heavy rainfall, which could lead to flooding and damage a company’s buildings and those of its suppliers.
Procurement organizations have faced a number of new trade compliance regulations this year. Take the new Trade Facilitation and Trade Enforcement Act, as an example, which was signed into law in February. Or, the new Cuba trade agreements developing now that sanctions have been lifted. And now, with Brexit vote impacts looming over procurement and supply chain organizations, companies may have additional trade rules to consider in the near future. But a new survey shows multinational companies are not investing in trade compliance training for their employees, despite the risks of noncompliance.