The Supply Management Category

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Beyond Supplier Risk Management: How Procurement Can Take a Leadership Role in Enterprise Risk Management (Part 2) — Aligning Enterprise Risk to Supply Risk [PRO]

risk

In Part 1 of this series, we described the process that most progressive procurement organizations use to relate enterprise risk to supply risk. Throughout such transformations, a single theme pervades: alignment. The premise here is that while value chains are, in fact, a chain of value that flows across multiple stakeholders, the “signal” often gets lost as the components of that value go across organizational and functional boundaries. We’ve written before about this concept of “supply performance management” (i.e., where the definition of supply and the supply scorecard gets translated from the customer-facing value chain all the way down to a supplier/contract level) in terms of measuring and managing supply value, but this same concept also inherently applies to risk management.

Risk management is about protecting those value streams, and therefore the commensurate investment in risk mitigation should align with the value streams themselves. Unfortunately, they often don’t, because stakeholders are not typically measured on risk management explicitly (although they can be measured on it implicitly).

Procurement itself faces this problem. Based on our research, only 8% of procurement organizations are formally measured on supply risk reduction. Instead, they’re measured on overt reward (vis a vis savings) but not on protecting those improved supply outcomes. So, if procurement wants to protect supply outcomes, it will need help and resources from the natural risk owners (i.e., those who are measured on the business outcomes affected by those risks) — and that help will not come unless there is visibility, commitment and action. As such, in this installment of this series, we’ll discuss two critical frameworks that organizations can use to gain alignment.

A ‘White Christmas Paper’ — with THE Chief Procurement Officer

Once upon a time, Spend Matters Europe Editor Nancy Clinton and the UK site’s outgoing leader, Peter Smith, were asked by Trade Extensions, now with Coupa, to interview a very special customer and write a case study about the firm’s work with him. So after a magical flight, they sat down with him to learn all about the particular distribution problem he was facing this year. They learned how the Trade Extensions optimization/market informed sourcing system helped him and his business meet quite incredible seasonal demand, by engaging a wide range of distribution sub-contractors. That was done in an optimized manner, despite the great complexity of the problem to be solved.

So sit back and listen as Nancy and Peter share how Father Christmas — the Chief Procurement Officer — comes to grips with sourcing software …

AdaptOne: Vendor Snapshot (Part 3) — Summary and Competitive Analysis [PRO]

supplier management

The supplier management technology market is among the most fragmented of those in the procurement technology landscape.

It comprises multiple segments (and sub-segments), and Spend Matters now tracks approximately 50 providers that compete within niche segments of it. One of these providers is AdaptOne, a vendor specializing in supplier information management that perfectly matches Spend Matters’ SolutionMap “Turnkey” persona for supplier management. This Spend Matters PRO report provides facts and expert analysis to help procurement organizations make informed decisions about AdaptOne’s solution — and whether its “turnkey” services-driven approach is right for them.

Part 1 of our analysis provided a company background and detailed solution overview, as well as a summary recommended fit suggestion for when organizations should consider AdaptOne in the procurement, supply chain and finance technology areas. Part 2 covered product strengths and weaknesses. This final installment offers SWOT analysis, explores competitive alternatives to AdaptOne and provides insight into evaluation and selection considerations, including a prioritization/fit checklist.

ISM 2018: Procurement Steps Out Into the Digital Era

This year ISM’s annual conference, which features more than 2,500 global supply chain and procurement professionals, is emphasizing a decidedly forward-looking tone. In addition to the usual sessions on talent management and elevating procurement’s role in the business, ISM is doubling down on several futuristic-sounding topics, including guides to implementing artificial intelligence, explorations of blockchain use cases and strategic plans for building a procurement defense against cyberattacks.

ISM 2017: Initial Impressions? Great!

Eved

The Spend Matters team has descended on Orlando for the ISM 2017 conference. This year’s event is shaping up to be a great one. I got in Sunday but didn’t get a chance to attend a behind-the-scenes tour of Disney World, which looked fascinating. There’s a metaphor for supply management here, I think: “How is procurement able to generate 10X returns on investment in the function? It must be magic!” Well, like Disney, it’s a lot of hard work, customer focus, innovation, creativity and technology.

Settling the “SCORe” with “Supply” at the Core: It’s time for Supply Management 2.0 [Plus+]

Global Risk Management Solutions

As supply networks are becoming more complex, componentized, outsourced, and global (as well as faster, riskier and more regulated), the capability of managing supply (i.e., supply management to manage a network of supply) is promoted from a siloed set of functional process to an integrated strategic one. So, if you want to “orchestrate” it, whether you provide products, services (including information services), or both, you need to collaborate fluidly in a multitier and multilevel fashion that orchestrates both the process silos and the information silos. For lack of a better term, think of this as supply management 2.0. It basically expands the vision from a traditional procurement-led sourcing process, typically managed via ERP or standalone procurement applications, to a cross-functional and cross-enterprise “platform” for orchestration of all critical supply resources in the supply network (materials, capacity, logistics, capital, etc.) across the supply tiers.

In this Spend Matters Plus analysis, we argue that it’s time to flip the traditional paradigm of supply management from not just a new faceplate on the traditional purchasing function but also from the sourcing component of the “sourcing and procurement” moniker that many practitioners use. Having strategic procurement be merely about sourcing as a serial step in an end-to-end lifecycle is a mistake.

Trending in Talent: The Top 3 Factors for 2017

Attracting top performers continues to be a key area of focus for most procurement leaders today. We’ve seen firsthand the steadily increasing demand for strong supply management talent throughout 2016 and early 2017, although the supply has remained relatively unchanged. What’s also evolving is the way in which companies approach hiring and retention of these individuals, as well as the makeup of modern-day procurement groups. In this post, we explore the top three trends affecting supply management talent.

Signing on the (Electronic) Dotted Line: New Solutions Based on Technological Advancements

Join us this Thursday, Dec. 10, at 1 p.m. CDT, for the webinar, Digital and E-Signatures: Everything Procurement Needs to Know! Our own Thomas Kase, vice president of research at Spend Matters, will be joined by the Silanis team to provide serious value for business users.

Announcing New Webinar: Building a Successful Business Case for Procurement

procurement business case

Presenting your business case to the CFO can be a daunting task. These positions are increasingly demanding more nuanced ROI, with smaller "I" and even smaller "R." In the procurement sphere, presenting a business case doesn't have to be nerve-wracking – if you follow our lead. Join us Tuesday, September 22, at 12 p.m. CDT for the webinar, The Seven Deadly Barriers to a Successful Procurement Business Case, with Pierre Mitchell, chief research officer at Spend Matters, and Dipan Karumsi, KPMG managing director, operations advisory services.

Supply Analytics Will Become Routine, Predictive: Accenture

supplier network

You won’t get any debate from us that supply analytics must form a key basis of future procurement technology investment. But whether supply analytics, as Accenture defines it in its recent report, Procurement’s Next Frontier – The Future Will Give Rise to an Organization of One, becomes as routine as the authors argue is open to debate. A lot will have to happen to make this vision a reality. What Accenture describes is complicated and daring. It’s also going to prove, perhaps, the most challenging tech vision suggested in the paper to realize.

Are SMEs the Weakest Supply Chain Risk Link?

risk management

Late last month, I took the same side as Stephen Allott, crown representative for small- and medium-sized enterprises (SMEs) at the UK Cabinet Office, in a pub debate in London, in which we argued for the motion that procurement is doomed for a variety of reasons, including the failure of many procurement organizations to effectively manage supply risk. Then, coincidentally, on the flight back to the US, I read an article in a UK publication reporting that a majority of SMEs are not prepared to manage supply risk. A curious coincidence? I’m not so sure.