The Sourcing Category

Creative Supplier Governance: Key Points From a Sourcing Leaders’ Lunch & Learn

SciQuest

At a recent Chicago Sourcing Leaders Lunch & Learn, one theme was clear: The sourcing department includes the “cool kids” of the enterprise. Hosted by solutions provider Scout RFP and Zebra Technologies, pioneers of barcode scanning technology, the Lunch & Learn featured a sampling of the Zebra product line and a practical presentation from Dawn Tiura, president and CEO of the Sourcing Industry Group, or SIG. She described the qualities of the “cool kids” and shared her insight on the importance of having a formal supplier governance program.

South America’s Gold Supply Chain Poses Big Risks for Procurement, Report Says

If your company sources and buys gold, then the message from some recent research is loud and clear: Watch your step in South America. The market there and its role in the global gold supply chain is a tremendous cause for corporate concern, according to a Thomson Reuters white paper. Evidently, the promise of huge profits based on higher gold prices — and fueled by rampant corruption — have created a vast supply chain problem on the continent.

With USMCA Done, Supply Chain Professionals Can Get Down to Work

sustainability

Procurement and supply chain professionals reacted to the new USMCA trade deal this week with relief that they now know what to focus on in a post-NAFTA landscape — and that they can begin figuring out how the pact fits with ongoing tariff disputes with China. Trade negotiators on Sunday finalized the U.S.-Mexico-Canada Agreement, a new pact that will replace NAFTA. After about two years of turmoil, the deal was welcome news for supply chain professionals because it removed uncertainty from their planning processes.

Global Companies Shift Gears to Stay Locally Relevant in the ‘Age of Multi-Localism’

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In the 1980s and ’90s, companies gained prestige by going global. Recently, globalization has come under fire from multiple fronts, causing the locally integrated business model to become the new goal for many companies. Pressure is coming from forces such as political rhetoric creating more trade barriers, consumers’ preference for personalized, local goods, and technological advances that change the dynamics of the basic business model, so companies must turn away from strategies that focus on globally integrated value chains and focus on thriving locally in each market that they serve, according to a study released in September by A.T. Kearney’s Global Business Policy Council.

An Introduction to Sourcing Business Intelligence (Part 1): Definition and Driving Forces [PRO]

The problem with the term “sourcing business intelligence” is that it can have vastly different interpretations. Yet sourcing BI is a concept that we’re increasingly hearing mention of with our procurement practitioner and consulting firm clients, albeit with different names attached to it.

Not to be confused with spend analytics, the concept of Sourcing BI could prove as important to the digital procurement organization of the future as category management did in the past decade — or perhaps even more invaluable. This Spend Matters PRO analysis provides an introduction to the concept of sourcing BI, starting first with a definition and an overview of the trends that are driving it.

Scanmarket: What Makes It Great (Sourcing SolutionMap Analysis)

Editor’s note: This “What Makes It Great” column is normally reserved for SolutionMap Insider Subscribersbut Scanmarket has generously agreed to support access for readers who are not yet members.

The e-sourcing software market refuses to succumb to consolidation, providing significant choice to procurement organizations of all stripes, sizes, industries and operating geographies. Among these vendors, one of the most experienced in building technology to support both basic and complex RFX, negotiation and auctioning processes is Scanmarket. The closely held company today counts more than 300 global customers and delivers a broad set of capabilities, including integrated spend analytics, supplier management and contract management.

For customers, Scanmarket is a reasonably priced, best kept procurement secret that does not compromise on the e-sourcing fundamentals. But how does the provider stack up in this highly competitive technology market? On the surface, Scanmarket is one of the top performers in the Q3 2018 Sourcing SolutionMap for the Nimble buying persona, as well as a recommended fit across all five Sourcing SolutionMap buying personas. To understand where Scanmarket stands out — and why this matters for sourcing and category teams — let’s dive into the more than 100 fields that comprise the Sourcing benchmark and explore what makes Scanmarket great.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Coupa Sourcing: What Makes It Great (Sourcing SolutionMap Analysis)

As of Q3 2018, Spend Matters SolutionMap contains functional and customer satisfaction benchmarks on more than 50 different procurement software providers, 17 of which offer e-sourcing software. In the latest Q3 SolutionMap benchmark dataset, Coupa takes first place in Analyst scoring, aided not only by best-in-class sourcing optimization capabilities from its acquisition of Trade Extensions but also by other enhancements it has made throughout the sourcing lifecycle.

But where does Coupa stand out the most and “set the bar” across the more than 100 functional benchmarks that comprise the Sourcing SolutionMap? And why should this matter for sourcing and category teams? Let’s dive into the Sourcing SolutionMap benchmark to find out.

“What Makes It Great” is a recurring column that shares insights from each quarterly SolutionMap report for SolutionMap Insider subscribers. Based on both our rigorous evaluation process and customer reference reviews, each brief offers quick facts on the provider, describes where it excels, provides hard data on where it beats the SolutionMap benchmark and concludes with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Forging a Cognitive Future for Procurement: LevaData Kicks Off Second Annual Cognitive Sourcing Summit

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Spend Matters is on the ground in Santa Clara, California, today for the 2018 Cognitive Sourcing Summit. Hosted by LevaData, an emerging provider of e-sourcing software, the event, now in its second year, brings together leading procurement professionals to examine trends in strategic sourcing, with an emphasis on how artificial intelligence and machine learning are changing the way organizations approach this foundational process. While LevaData plans to expand upon several of the themes it first explored at its inaugural Congnitive Sourcing Summit, in October 2017, we will also be looking to hear about the latest updates to the vendor’s platform, as well as the results of some relevant research about procurement’s readiness to effectively use AI-powered technology.

SolutionMap: 54 Procurement Software Companies, Ranked (Q3 2018 Update)

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Spend Matters today released its Q3 2018 SolutionMap, ranking 54 procurement software companies across 12 different solution categories, including E-Procurement, Sourcing, Spend Analytics, Supplier Relationship Management and Contract Lifecycle Management — in addition to the first-ever release of the Contingent Workforce & Services SolutionMap. Click on this article to see how to access rankings for free!

Q3 2018 Source-to-Pay (S2P): Provider Scoring Summary

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This SolutionMap analyzes a select group of source-to-pay solution providers. It is part of our Q3 2018 SolutionMap report series, also featuring spend analytics, sourcing, supplier management, contract management, e-procurement and invoice-to-pay providers. Our Q3 release also features SolutionMaps for Strategic Procurement Technology suites.

Q3 2018 Sourcing: Provider Scoring Summary

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This SolutionMap analyzes a select group of sourcing providers. It is part of our Q3 2018 SolutionMap report series, also featuring spend analytics, contract management, supplier relationship management and risk (SRM), e-procurement and invoice-to-pay providers. SolutionMap also features procure-to-pay and strategic procurement technology suites.