Close to a year ago, an old friend, Fabrice Saporito, approached me with an idea for a business that was, to say the least, ambitious. While the social network and app that he and his team ultimately launched this week morphed quite a bit between the original discussion and the launch version, it’s safe to say his ambitions grew rather than shrank.
Category Archives: Suppliers
Gather 'round, procurement scouts: We've just received the itinerary for your next adventure. Increasing spend visibility is the goal for any progressive procurement organization, as it directly leads to better management of supply. Enter Pierre Mitchell, chief research officer at Spend Matters, with the roadmap: Navigating the Path from Tactical Procurement Analytics to Strategic Supply Analytics. Get your copy today!
Catalogs often get a bad rap, but the most progressive procurement organizations are using advanced smart catalogs to support complex category-specific requirements in the supply chain. These processes are replacing "old school" catalogs as a way to better engage stakeholders with more advanced approaches to preferred suppliers. Join Spend Matters and jCatalog for the webinar Teaching an Old Dog New Tricks: Advanced Case Studies in Smarter Catalog Management on Wednesday, Nov. 4, at 10 a.m. CDT. Register now!
Wal-Mart suppliers don’t appear to be too happy with the retailer’s latest fees and extended payment terms, which could prevent them from being paid for months. Do Wal-Mart suppliers have a right to be angry? Is this move by Wal-Mart ordinary among large corporations? We reached out to David Gustin, cofounder and editor of Trade Financing Matters, to help explain the significance of this news.
Spend Matters welcomes this guest article by Vroozi.
One of the biggest themes of this blog series has been how procurement will benefit from the increase of information. However, all of this increased intelligence won’t be beneficial to the average business user if they aren’t guided on how to use it. A 4 year old behind the wheel of a car will not be able to see the benefits that a fully licensed driver would.
The next wave of procurement will involve giving internal buyers and external suppliers the guidance and lessons they need to become better at procurement themselves. As procurement professionals move into the role of teacher, they will enjoy moving out of the role of babysitter. Instead of wasting time on administrative tasks, correcting other user’s mistakes and working in an inefficient system, all users of the company’s procurement system will have the education they need to work efficiently and make critical business decisions regarding procurement.
In May of 2015, C2FO released the results of a survey of more than 1,000 US business owners’ thoughts on improving working capital efficiency. The survey explored trends associated with financing, working capital deployment and late payments.
In this Q&A, we explore the key questions and analyze how the responses point toward some important insights into buyer and supplier relationships.
Good customer service goes a long way and I commend businesses that realize this, even if it takes a couple of tries to get it right. Such was the case for Visionworks, which recently righted a major wrong I wrote about back in June. When the scratch coating on glasses I purchased in spring 2014 began to flake off for the second time in 1 year, I learned the problem was a well-known supplier defect. At first my local store refused to replace my lenses because my warranty had expired. But after I took to Spend Matters to address the issue, Visionworks began to take a different tone.
For anyone who has seen a virtual or simulated environment for training or other activity you know it’s really an adult educational version of the Minecraft game kids play. But many of these applications are in fact designed in a world where asynchronous and structured communication is the rule rather than providing a sandbox-like environment for different parties to collaborate. Yet the vision that Accenture outlines in its recent paper, Procurement’s Next Frontier – The Future Will Give Rise to an Organization of One, for “virtual supplier rooms” takes the concept of an online collaboration and learning environment that incorporates both internal and supplier participants many steps further than what is available today.
AGCO is a Duluth, Georgia-based, multi-business unit global manufacturer of agricultural machinery. With an addressable procurement spend of around $7 billion, AGCO’S procurement function was fragmented and spread across the many business units, which led to business challenges when external events – such as earthquakes – disrupted the supply base. These events sent buyers scrambling for available capacity without any sense of teamwork or collaboration. When a competitor proved that a center-led supply chain risk management (SCRM) approach was more effective at securing supplier capacity, this drove AGCO to adopt its own strategy, as well as an organizational change to a matrix layout. Organizations that want an inside track on building or accelerating a business case for investment in SCRM are likely to find the Spend Matters paper, A Case Study in Global Supply Chain Risk Management: How AGCO Implemented an SCRM Solution to Save Millions, useful in their efforts.
Spend Matters’ Pierre Mitchell and MetalMiner’s Lisa Reisman offer their perspectives on how a supplier’s cost structure has changed over the past decade. From regulatory impacts to labor productivity gains and volatile commodity environments, these shifts have dramatically impacted the notion of the “supplier’s cost structure.” Learn how these 2 experts consider several factors and chime in with your own questions to take the discussion further.
Greece’s trade partners are no doubt worrying what the country’s debt crisis will mean for them in the coming days, weeks and beyond. Imports and exports in and out of Greece will likely be impacted immediately this week (if not already) and those that do business with Greek companies may have to look elsewhere for supplies and for selling their goods. The Spend Matters Network analyst team has offered their expert opinions on what this situation means for procurement. How will suppliers working with the Greece government get paid? Will they get paid? And what happens if Greece exits the Euro? Our experts weigh in on these procurement questions.
I learned a surprising and fairly upsetting lesson about sourcing this week. Call me naive – I am still a rookie in the procurement world, after all. But, what I learned is that companies knowingly work with suppliers that provide defective products and services. Or at least one company does: Visionworks. I bought a pair of glasses from the company last spring, and since then I have had the lenses replaced when the anti-scratch coating began chipping off. However, the coating is again flaking off my "replacement" lenses, and Visionworks says I am out of luck, despite admitting their suppliers sometimes create batches of scratch coatings that are "defective."