Category Archives: Suppliers

Why Do We Need Procurement?

- March 21, 2015 7:48 AM | Categories: Guest Post, Innovation, Procurement, Suppliers

Spend Matters welcomes this guest article by Mike Robertson, managing director at POD Procurement. What is the function of procurement? It's an emotive question that generates a plethora of answers. Fundamentally, let us assume, “Procurement is responsible for spending the profits of the organization in procuring goods and services to address the business requirements.” What is the value of procurement? Again, it's hard to quantify depending on who is answering the question, but let us assume it is to “maximize the value of what the business procures,” or to it simply “to spend wisely and save as much as possible.”

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Pushing Early Pay Opportunities To All Suppliers

- March 6, 2015 6:17 AM | Categories: Suppliers, Trade Financing

Pay-Off Regardless if the US government's SupplierPay initiative is successful or not, many Global 2000 corporations have developed a menu of early pay solutions. Buy-side techniques are centered around payable finance methods. Purchase-to-pay, e-procurement, e-invoicing and supplier network propositions are becoming more established together with early pay finance techniques. Large global corporations that use these networks to manage suppliers will enable their suppliers to receive early payment.

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Why Collect Supplier Information?

- February 23, 2015 10:05 AM | Categories: Accounts Payable, Invoicing, P2P, Suppliers, Trade Financing

Networking-102013329E0194F8 copy Beyond core P2P enablement and related areas, companies focus on supplier enablement for a variety of reasons. For one, such programs are increasingly driven by regulatory compliance or related sets of laws or industry constructs and expectations. Read on to see why, on an overall basis, the majority of supplier enablement programs center on the sourcing and management of supplier information.

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Not-Quite-One-Year Update: The SupplierPay Initiative

4E6FDEE95C July will mark one year since The White House introduced the SupplierPay initiative, which aims to benefit small businesses in not only getting paid faster but also in receiving access to lower cost outlets of working capital when working with larger corporations. Where are we now with this initiative? Which direction is it trending? Join David Gustin (Trade Financing Matters) and Eyal Rosenberg (Nipendo) for the webinar, The White House, SupplierPay, Early Payment Opportunities, and You on Thursday, Feb. 26 at 12 p.m. CST. Register here.

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L.L. Bean Customer Service Gets It Right on Second Try

- February 13, 2015 6:34 AM | Categories: Friday Rant, Sourcing, Supplier Performance, Suppliers

0F8138FBA4 My new L.L. Bean wool, insulated coat was going to be great. Or so I thought. At nearly $230, I expected a quality item. What I got was a broken zipper, a $45 tab for replacing it and a less-than-helpful customer service representative. Eventually, they got it right, reimbursing me for the replacement zipper. But the whole experience has turned me off to the brand. And who knew a zipper - such as low cost component - could have such an impact?

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P2P Integration and Implementation: 3 Common Approaches to Integrating Suppliers

- February 4, 2015 9:29 AM | Categories: Learning / Research, P2P, Suppliers

In our P2P travels over the years, we’ve identified 3 common (and distinctive) approaches to enable/integrate suppliers in a P2P environment. These present various pros and cons, and generally speaking, it’s important to take an approach that leverages all 3 models based on supplier size and sophistication. What are these 3 approaches? Read on...

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Mr. Gustin Goes to Washington and Other Musings on SupplierPay

- November 26, 2014 2:32 AM | Categories: Suppliers, Trade Financing

file2511287608843 Our fearless compatriot David Gustin at TradeFinancing Matters recently attended a White House meeting on the SupplierPay initiative. David is one of the world’s leading experts on trade finance, and The White House was smart to invite him to share his insights. For my part, I’ve had a few discussions with the US Small Business Administration tasked with running SupplierPay. The people at the SBA were very interested in the financial supply chain study that I did with ISM and with my other research analysis findings on how extending payment terms statistically correlates with lower enterprise value. More specifically though, I’ve reviewed the draft set of metrics that SBA is thinking about implementing with the program, and I provided it some detailed feedback.

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For IT Hardware Savings, Look at Services and Support – More on the Accenture Q3 2014 Spend Trends Report

- November 25, 2014 2:49 AM | Categories: Suppliers, Technology

CIOs – and more recently procurement executives – have been chasing IT hardware cost savings for years . Having been involved in IT sourcing projects earlier in my career – actually for a large OEM – I can attest to the often advanced market design elements that goes into the typical sourcing or category decision involving large hardware buying efforts. But might services be a better place to look for savings? Accenture's recent Q3 Spend Trends Report suggests that the opportunities for savings from third-party hardware maintenance are often significant – and have not necessarily been fully explored.

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TFM’s David Gustin Shares His Expertise at The White House’s SupplierPay Session

file000744506387 David Gustin of Trade Financing Matters was in Washington, D.C., last week attending and presenting at The White House’s SupplierPay session. We talked to David about how he became involved with the initiative and what insight he shared with the many professionals from various organizations and government agencies who took part in the event.

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Anti-Dumping Effort Gains Attention (and Spend Matters Network Weighs In)

Rep. Billy Long is pushing federal authorities to take a closer look at the goods global suppliers are shipping to the US. And, the world’s largest bedspring supplier, Leggett & Platt, is throwing its weight behind the effort – going as far as to hire a lobbying firm to convince lawmakers this is an important issue that needs to be addressed.

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The “Bait and Switch” That Ended the Relationship Between Apple and GT

- November 11, 2014 10:22 AM | Categories: Breaking News, Supplier Management, Suppliers

bait-fisherman-fishing-2542-829x550 GT Advanced Technologies Inc. said Apple pulled a classic “bait and switch” with the synthetic sapphire supplier, leading GT to file for bankruptcy. The news came last Friday, when documents relating to GT’s bankruptcy case were disclosed, after initially being held under court seal.

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Will There Be Consequences for Apple Once GT Court Docs are Unsealed?

- November 6, 2014 10:15 AM | Categories: Supplier Management, Suppliers, Supply Chain

Looks like we will soon learn more details of what happened between the tech giant Apple and one of its suppliers, GT Advanced Technologies. GT, which makes synthetic sapphire used in smartphone screens, filed for bankruptcy last month, citing “burdensome contracts” with Apple. Reportedly, GT may have been faced with fines up to $50 million for each violation of confidentiality agreements with Apple.

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