The Procurement Category

Can Procurement Save the Least Diverse Profession in the United States?

forced labor

The biggest change agent for the legal profession could be the as yet unspoken (rather than contractual) pressure from legal firms’ corporate clients, who are pushing their legal partners to go further into supplier diversity efforts. These corporations (e.g., HP, Facebook and Oracle), many of which have instituted their own supplier diversity programs, increasingly want their suppliers and partners to do the same, according to Lee Garbowitz, managing director of Procurement Managed Solutions for HBR Consulting. This helps the partners align strategically, with the ultimate goal of improving brand image and reputation on both sides.

Real-Time Procurement Data for Total Purchasing Control: A 3-Part Webinar Series



Out with the old and in with the new, and for procurement, real-time data is the leading edge of what organizations like the LDS Church are doing to achieve total purchasing control and ensure compliance with suppliers. This recorded three-part webinar series from Aquiire and Spend Matters digs deep on the B2B procurement shopping list to unearth real savings for your company. Transforming Procurement in Real-Time is now available for download here.

What Sets World-Class Procurement Organizations Apart? Use of Digital Technology for One

There are many things that set world-class procurement organizations apart from their average-performing peers. It may be working closely with suppliers to drive innovation and manage risks, or perhaps it’s collaborating with senior management on strategic initiatives. According to a new report from The Hackett Group, world-class procurement organizations also have 29% fewer full-time workers on average, and they rack up 22% lower labor costs. But how is it that these organizations can achieve more with fewer full-time employees? One indispensable factor is digital technology, the report says.

3 Reasons the Cognitive Era is Not Yet Upon Us — But it Will Be Soon

Forget digital. The 2020s will be powered by super intelligent, human-like applications that all but replace their creators. This is the dawn of the cognitive era. At least, that’s what the software market has been saying for the past year or so. But given that most organizations, particularly those in a B2B or supply chain context, have barely come around to adopting even plain old “digital” strategies, cognitive’s penetration in the enterprise is, perhaps, a bit oversold. To understand why, here are three examples of how we're still laying the groundwork for the transition from digital to cognitive — and what to expect when it really starts.

What Worries Procurement Professionals the Most? Trade Comes Out on Top

trade

Global trade disputes. Automation and job losses. Immigration policies. Which of these three worry procurement the most? In a survey of 200 procurement professionals recently conducted by Beroe Inc., 55% of the respondents cited trade squabbles as their top concern, reflecting broader anxieties about current political and economic uncertainty.

Real-Time Procurement Data: Getting With the Times in 2017 and Beyond

It's now 2017 and your procurement resolution should be to get with the latest and greatest in real-time procurement data and technology. The result will transform your organization as well as your team's role in shaping the procurement function. In this three-part recorded webinar series, Spend Matters' Xavier Olivera, along with a series of guests from Aquiire and the LDS Church, discusses the benefits of data in real-time and how you can use it to your advantage.

New Report: Are Our Supply Chains Less Responsible Than We Think?

hidden workers

Corporations are becoming wealthier. As of last year, 69 of the world’s 100 biggest economic entities are not nations but businesses, an increase from 63 in 2015. Can it be argued that those behemoth private sector corporations should be held to stricter procurement regulations and transparency, more like, dare one say, public procurement? This is a question that arises from the findings of a recent report from The Economist Intelligence Unit on supply chain responsibility.

Building Supply Market Intelligence: Which Data Sources are the Best?

Often, it’s all about how quickly one can digest something. No, I’m not talking about Joey Chestnut’s eating-champ prowess. I’m talking about market intelligence. In a procurement professional’s day-to-day, that sentiment has certainly become more widespread than ever. In fact, with time at a premium, the majority of procurement pros — from junior buyers all the way up to CPOs — are faced with this issue every day. However, it can pay dividends to approach supply market intelligence in a strategic way.

5 Things Employers of Choice Understand About Hiring Top Procurement Talent

talent

As a hiring authority in the procurement function, what can you do to improve your odds of bringing in the talent that you need? The 2017 Hiring Sentiment Study conducted by MRINetwork reveals that the inability to find quality talent is driven by lengthy hiring practices, lower-than-expected compensation and an employer sentiment that candidates should feel honored to be considered for their job opportunities. Based on the study’s findings, procurement employers of choice understand these five hiring insights better than their competitors.

Search for the Best Results and Buy Smarter

A supplier can have the best product or service in the world, but if it never appears somewhere the end user can become aware of it, it will never be purchased. Hence the importance of what logistics professionals call “the last mile” in physical supply chains — the final leg of the transportation journey that delivers a product or service to the consumer. The concept of the last mile applies to corporate purchasing, as well.

Big Data in Public Procurement: Strategic Enabler or Leaker of Inconvenient Truths?

The term big data is not new in the lexicon of business jargon. After years of hearing how big data analytics will transform the enterprise by producing brilliant insights from reams of unstructured information, procurement observers are understandably skeptical about the promises big data’s marketers have made. It was no surprise to us, then, that for one of the first questions we received in our new series Ask Spend Matters, an anonymous asker hoped to find some evidence behind big data’s claims.

Koble’s Experian Partnership Turns Social Supplier Discovery into Risk Management Opportunity

SpendLead

We’ve covered Koble here over the last year or two, and the platform continues to grow its user base of buyers looking to find innovative suppliers and suppliers looking to find buyers (around 500 major firms are now using the solution.) Recent accolades have come with a place in the 2017 Red Herring North America “Top 100 winners,” which lists innovative and exciting tech firms, and even a nod by Gartner. Part of the latest reason why is a free risk analysis tool built into the platform.