Category Archives: Risk Performance and Compliance

Top 4 Ways CPOs Will Use Social Media

apple-cup-display-1883-733x550 In Part 1 of this series we looked at the principles of social media, which give an insight into how and why it has been such a phenomenon. Aspects such as the way it enables users to feel a sense of belonging and to share knowledge, information and their passions so quickly and easily, play to ancient human needs. So now let’s look in a more practical manner at the areas where social media tools, or tools that at least use these principles, will increasingly play an important role in the lives of CPOs and indeed all procurement professionals. There are 4 principle areas that we can consider, although there is overlap between them in some cases.

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There’s Marijuana in Your Supply Chain: How to Smoke It Out?

- September 23, 2014 6:47 AM | Categories: Risk Performance and Compliance, Supply Chain

A recent study shows that a substantial number of employees go to work under the influence of pot. About 10 percent admit to having done so, and about 5 percent don’t rule out doing so again in the future! However, taking these results at face value, as you can see, employees even take illegal drugs while at work (some of the funniest examples may be in the Comedy Central series ) – and as more and more states make these legal, what is the impact on the supply chain?

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Accenture Spend Trends Report: Insurance and Risk Category Intelligence – Exploring the Total Cost of Risk

Procurement’s historic role in many companies is based on waiting for activities and requirements be tossed “over the wall” by the business as product and service lines, as well as taking action only when internal requirements change or are added (e.g., tracking new information such as diversity status, risk, environmental, and regulatory compliance areas, etc). Yet staying passive is a recipe for sub-optimizing sourcing and total costs results in new or changing areas given the time pressure to execute on activities when a new trigger occurs. One such area that is explored in the Q2 Accenture Spend Trends Report is the changes within insurance and risk management.

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Pandemics and the Supply Chain: What’s the Actual Risk Factor?

- August 13, 2014 9:01 AM | Categories: Ask the Expert, Risk Performance and Compliance

Don't forget to join us for tomorrow's Ask the Expert webinar featuring VP of Research Thomas Kase and Heiko Schwarz, Managing Director at riskmethods. This topic goes way beyond ebola, though that's what's making headlines right now. Thomas and Heiko will walk you through the actual risk factors pandemics bring to the supply chain, but then they'll also touch on the HR aspect (layering in pandemics alongside kidnapping, general crime, political issues, geo events such floods, earthquakes, etc.), and finish with prudent and realistic strategies companies can take to protect their supply chains. If you're a Spend Matters Plus or PRO member, we hope to see you tomorrow from 10-10:30am Central for Should You Be Worried About Ebola in Your Supply Chain?

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Ask the Expert: Should You Be Worried About Ebola and Your Supply Chain?

Should you be worried about Ebola? What can you do about this issue, and similar illnesses that might disrupt your supply chain and/or put your employees and suppliers at risk? On this week's Ask the Expert webinar, on Thursday 8/14 from 10-10:30am Central, Spend Matters VP of Research Thomas Kase will provide an overview of the issue and possible ways to improve your understanding of the level of exposure – as well as ways to better alert employees and third parties when needed. We’re also pleased to have a special guest joining Thomas: Heiko Schwarz, Managing Director of riskmethods. riskmethods is a German firm focused on global supply basic risk visibility and mitigation. Spend Matters Plus and PRO members, click on through to register for this special event!

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SEC Conflict Minerals Rule Violates Free Speech, Says U.S. Appeals Court

- April 14, 2014 3:48 PM | Categories: Breaking News, Risk Performance and Compliance

The free speech issue has made its presence felt in the SEC’s conflict minerals rule as a U.S. appeals court struck down parts of the regulation attributed to public companies being required to reveal if their products contain minerals from the Democratic Republic of Congo – a particularly combat-heavy part of Africa. The parts of the regulation struck down by the U.S. Court of Appeals for the District of Columbia Circuit were primarily related to violation of free speech. According to a report from Reuters, the appeals court did not strike down the conflict minerals rule altogether.

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Does Procurement Truly Appreciate the Value of P2P?

Are people in your business actually buying against the contracts you spent so much time negotiating? When Xoomworks' Simon Hurst poses this question to procurement practitioners at conferences, the answer he gets often is that there is another team taking care of it. Achieving this is partly down to having a solid and well-implemented Purchase to Pay (P2P) system, or even better a fully integrated Source to Pay (S2P) system with contract management. Having the ability to turn your sourcing event into an awarded contract and catalogue that can then be purchased against is immensely powerful and also allows you to track spend against your contracts—in other words, compliance.

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Ask the Expert: Providers Who Actually Get to the Root of Risk & Compliance

- January 28, 2014 9:02 AM | Categories: Ask the Expert, Risk Performance and Compliance, Solution Providers

Warning – this webinar is for those who have realized that most actual risk lurks in areas where visibility is poor. We will disappoint anyone just looking for a clever algorithm around analyzing publicly available financial information. What our VP of Research Thomas Kase will take a look at is a few providers – most small, some more established – that offer a different take on extracting risk information out of procurement data. In no particular order, providers and solutions will include: Cortera, Lavante, Seal, Coupa, MyBiz, Vortal, and SciQuest. Plus and PRO members, join us this Thursday, 1/30 from 10-10:30am Central. Registration is after the jump!

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Risk Management – Standing Still, Looking Backwards Trying to Look Forward (and Vendors You Should Get to Know)

- November 26, 2013 11:02 AM | Categories: Risk Performance and Compliance, Supply Risk Management

Consider the phrase “risk management” switching to “compliance management” – a change that would be far more productive for everyone. As part of your supplier onboarding (and ongoing performance management) processes, if you pull a report from a credit agency, look at those numbers, and then check off your list, have you really “managed” any risk? Risk management must change. It is tempting to gaze into the rear view mirror, the warm and fuzzy certainty of audited financials, or at least a cuddly third-party data provider to snuggle with and to point the finger at in case something goes wrong. Just don’t think you’re “managing” any risk. Here are some more robust approaches, along with our vendor recommendations.

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Considering the Broader Intersections of Services Procurement with Purchasing and Risk Management

- October 23, 2013 11:03 AM | Categories: Innovation, Risk Performance and Compliance, Supplier Management

Having been in recent discussions with a number of practitioners and consultants engaged in procurement compliance and risk management areas, it would seem to me that services procurement intersections with broader purchasing and supply chain activities are becoming better known. Indeed, services procurement (including but not limited to contingent labor) has many touch-points with existing procurement and supplier management processes. But only recently, it seems, have organizations been prioritizing and recognizing the importance of linking these areas together, including the following.

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Three Software Virtualization Licensing Pitfalls – And How To Avoid Them

There are many benefits associated with software virtualization. In fact, the global virtual desktop market is projected to reach 49 million units by the end of 2013, up from around 500,000 units in 2009. Revenue is also expected to skyrocket, representing more than 40 percent of the professional PC market. By virtualizing software, organizations can run multiple operating systems and applications on one physical machine and across multiple processors or cores. This allows employees to do more work on fewer machines as well as reduce IT costs and time associated with managing infrastructure. However, like with any licensing metric, the devil is in the details.

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Five years after Financial Armageddon – Lessons for Procurement Leaders

- September 24, 2013 2:44 PM | Categories: Finance, Guest Post, Risk Performance and Compliance

On Sep 15. 2008, Lehman Brothers filed for the largest bankruptcy in US history. The 160-year-old firm had over 25,000 employees and $600 billion in assets. A few hours later, Bank of America swept up Merrill Lynch in a fire sale. Over the next several days, there was a domino effect around the world. Credit markets seized up, money stopped flowing through the veins of the global financial system, stock markets crashed, and many large companies saw imminent insolvency. Five years later, there is insight to be gained by reflecting on the causes of the crisis, the diagnosis, and the efficacy of the solutions pursued by different entities. Here are three observations and lessons from the crisis.

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