The Talent Management Category

Procurement as a Blind Beginner

Spend Matters welcomes this guest post from Conor Weir, graduate team member at eir, and Anthony Ryan, head of procurement operations at eir.

At eir we have an exciting two-year graduate program with two defined business streams: one stream for graduates of all disciplines who are looking to build a career in business, and a second stream for finance/accounting graduates looking to complete a relevant finance or accounting qualification and pursue a career in finance. Graduates are funneled through procurement, with most of them having only a vague idea of what procurement does. The procurement team at eir has developed a tactical buyer quick stream approach to indoctrinating the graduates into a meaningful procurement role. The following story is from a recently successful participant with very impressive quantifiable contributions delivered. This is a compelling story that not only validates the eir graduate program but also provides a glimpse into the interesting and challenging world of procurement.

How to Get Poached for Private Equity Procurement

interview

Spend Matters welcomes this guest post from Nick Lazzara and Naseem Malik, of MRA Global Sourcing.

Generally speaking, private equity firms buy companies and look to rapidly improve their performance by making them lean, efficient and cost-effective before selling. No group does these things better than modern procurement teams. As a result, one of the first orders of business following the acquisition of a new portfolio company is ensuring the procurement function is staffed with “A players.” And there are specific profiles that best suit these newly formed or revamped groups, PE industry leaders have told us.

Scouting and Retaining Young Supply Chain Talent: A (Millennial) Recruiter’s Experience

interview

Did you know that according to the Bureau of Labor Statistics, millennials will comprise nearly 75% of the U.S. workforce by the year 2030? Yes, I’m talking about those tech-savvy, feedback-craving 20-somethings that have recently entered the workforce — myself being one of them! Even if the demographic shift hasn’t yet affected your company, I’m sure this doesn’t come as a surprise, considering how infatuated the media has been since the turn of the decade with millennials. The million-dollar question, however, is this: What are corporations doing to adapt to this change in workforce?

ISM/ThomasNet’s Newest “30 Under 30” Rising Supply Chain Stars Are Tech Savvy and Well Traveled

The Institute for Supply Management (ISM) and Thomasnet.com have announced the winners of the 2016 30 Under 30 Rising Supply Chain Stars Recognition Program, which serves the dual purposes of recognizing promising young professionals and encouraging the millennial generation to pursue careers in supply chain. Now in its third year, the competition has undergone a significant change by opening up to the international level, whereas nominees were previously limited to the United States.

Successful Women in Procurement and Supply Chain Share Career Advice

Today is International Women’s Day, and the United Nations has selected “Women in the Changing World of Work: Planet 50-5o by 2030” as this year’s theme. The idea, as you can probably tell, is to push towards a 50/50 balance in men and women’s economic empowerment. Procurement and supply chain remain a male-dominated profession. So in honor of International Women’s Day, I asked women holding mid-level to senior roles in this field for a few pieces of career advice for their fellow female procurement professionals. Here's what they had to say.

Millennials in Supply Chain Discuss Their Weaknesses and Challenges (Part 2)

In case you missed Part 1, which covered millennials’ self-described strengths, the insights in these posts came from Q&As with a number of the 2014 ISM/ThomasNet “30 Under 30” winners, who are at the older end of the “millennial” generation that usually includes 15- to 35-year-olds. As far as weaknesses go, these millennial professionals agreed with some of the oft-repeated beliefs — that millennials are lazy, entitled, inexperienced, etc. — and picked fault with others.

Millennials in Supply Chain Discuss Their Own Strengths (Part 1)

When I wrote to several of the 2014 winners of ISM/ThomasNet’s “30 Under 30” competition recognizing young talent working in supply chain, I asked them how they think their generation will change the procurement and supply chain profession. I also asked them how they would describe their generation’s strengths, weaknesses and challenges as pertaining to supply chain. And as I read through their responses (my sincere thanks to all who participated!), common themes emerged.

Procurement Free Agents: Are You Ready?

consultant

Spend Matters welcomes this guest post from Naseem Malik, managing partner at MRA Global Sourcing.

Call them on-demand workers, contractors, free agents or mercenaries — just don’t call them inconsequential. Procurement is no longer immune to to the increase of contingent workers other functions have experienced in recent years. And the shift from employing permanent workers to temporary ones is gaining ground.

The Millennial CPO: How Will the New Generation Transform the Supply Chain Profession?

In one of my conversations with a “30 Under 30” winner who’s about to hit 10 years in the procurement profession, I realized the in hindsight highly obvious fact that millennials are growing up. They already make up a third of the workforce. The older among them are stepping into managerial positions. They’re hiring and mentoring younger employees. They’re giving talks at conferences and industry events. And a decade from now, they could even be CPOs.

Human Capital Innovation (Part 1): Technology, Talent and a New Playbook for Organizations

C-level executives, hiring managers, HR professionals, procurement directors and contingent workforce management practitioners at top-performing companies are recognizing that the way of engaging and leveraging talent is changing. They realize that ongoing high performance and competitive advantage require an entirely new approach to meeting their organization's needs for specialized, knowledge (i.e., business) talent — one that supersedes traditional work arrangements (e.g., “permanent” employment, stalwart consulting firms, staffing agencies) and organizational models.

In Part 1 of this three-part series, we address organizations’ changing requirements for how work is delivered, executed and managed in an increasingly digitized and networked business environment.

4 Habits That Can Sink a Procurement Consultant’s Career

consulting

So you told the corporate world that you’re going to go do it your way. (Congratulations, and cue inspirational theme song.) And for the purpose of discussion, let’s assume that you have taken care of the basics in going freelance: building an emergency fund, buying healthcare insurance, setting up retirement contributions, getting the right business insurance and so on. I have been on all sides of the client-consultant relationship. I have engaged and managed consultants as a corporate client, I have engaged consultants for my own clients and I am also a consultant myself. So, I’ve seen where the landmines are and learned how to avoid them. Here are the top temptations that can send you straight back to a corporate role — the “fateful four” — definitely in order of importance.

In Business Relationships, It’s All About H2H (Human to Human)

Spend Matters welcomes this guest post from Simona POP, head of partnerships and global communication at InstaSupply.

One of the things I’ve learned working with various businesses and multiple stakeholders within supply chain and finance is that there is no real B2C/B2B divide. It’s all H2H: human to human. The concept was coined by Bryan Kramer and is the real foundation for every single business relationship we cultivate, internal or external.