L2 Content

Koble’s Experian Partnership Turns Social Supplier Discovery into Risk Management Opportunity

SpendLead

We’ve covered Koble here over the last year or two, and the platform continues to grow its user base of buyers looking to find innovative suppliers and suppliers looking to find buyers (around 500 major firms are now using the solution.) Recent accolades have come with a place in the 2017 Red Herring North America “Top 100 winners,” which lists innovative and exciting tech firms, and even a nod by Gartner. Part of the latest reason why is a free risk analysis tool built into the platform.

ICYMI: What Have You Always Wondered About Procurement (But Were Afraid to Ask)?

The Spend Matters editors have been busy working through reader questions these past two weeks. Our recent submissions run the gamut from how to implement supplier relationship management to what professional skills will be most in demand in the supply chain and procurement field to, er, prank questions from our own colleagues. You might be thinking, “But hang on! What’s all this? Can I submit a question? Is this a new feature?” Yes and yes! In case you missed it (this is peak vacation time, after all), earlier this month we launched Ask Spend Matters, where you tell us what procurement questions to investigate, and we report out the answer in the form of an article.

OII Research Offers Insights for Fostering Enterprise Adoption of Online Labor Platforms

SpendLead

The first two posts of this Spend Matters series covered the Online Labour Index and related data (here an here). In this post, we cover other OII research focused on enterprise adoption of online labor platforms. This research was conducted and summarized in two OII blog posts by Gretta Corporaal, postdoctoral researcher in organizational studies at OXII. Notably, Corporaal’s research includes “the stories of two Fortune 500 firms [which] successfully adopted and integrated online freelancing in their business models.”

Blame the Supplier: A Roundup of Recent Supply Chain Scandals

Makeup for tweens is controversial enough on its own, but when asbestos is involved, national news headlines follow. ABC11 reported this week that asbestos was found to be present in the “Just Shine Shimmer Powder” sold at Justice, a national retailer of girls’ apparel. Asbestos fibers, once inhaled, remain in the lungs permanently. As Sean Fitzgerald, the director of research at the lab where the investigation was conducted, told ABC11, children “could die an untimely death in their thirties or forties because of the exposure to asbestos in this product.”

8 Benefits of Procurement Technology Tools

Oracle

Spend Matters welcomes this guest post from Anisha Khushlani, a senior consultant at GEP.

A wide variety of industries are adopting technology to automate supply processes, bringing significant bottom-line benefits to companies by allowing greater productivity, visibility and cost efficiency. At a high level, e-procurement provides the opportunity to increase efficiencies in business transactions and enhances negotiation leverage for firms. Use of technology is one of the key metrics used by benchmarking firms to measure maturity of procurement organizations. So, it’s important to find the right tool and reap the benefits.

Supplier Performance Management (SPM) — Lost and Found?

What if a network of suppliers responded even more favorably to a customer that persistently and artfully manages them? Almost all of the analysts who cover the supplier performance management (SPM) solution market agree there is an incremental 5%–15% in contract savings for those who do it well (i.e., for buying organizations that apply a continuous improvement discipline to their SPM practice). Those are big numbers. So why would it appear that outside of the automotive industry, sophisticated SPM practice hasn’t caught on?

A Look at Industrial Buyer Trends: E-Marketplaces, Mobile Apps and Supplier Selection

distributor

Traditional distributors still command the biggest percentage of industrial buyer spending, but competition is firing up, according to a recent UPS study of industrial products buyers and their behaviors and preferences. The study found more that industrial buyers than before are spending their money with non-traditional suppliers by buying through an e-marketplace or straight from the manufacturer.

The Challenges of Supplier Financing Adoption within P2P

finance

Our colleague David Gustin recently published a post detailing the results of a study on supply chain financing over at Trade Financing Matters, and I thought it would be worthwhile to expand the insights gained related to procure-to-pay (P2P) processes and solutions. In his article "5 Hypotheses Tested on Supplier Use of Supply Chain Finance", Gustin explores some conclusions from a study developed by Prof. David Wuttke of EBS Business School together with Prof. Eve Rosenzweig of Emory and Prof. H. Sebastian Heese of North Carolina State University where they observed patterns of conduct on the subject of supply chain financing.

The Butter Market has Gone Crazy

Spend Matters welcomes this guest post from Nick Peksa, opportunities director at Mintec.

Yes, the butter market has gone crazy. Normally these kind of rapid price movements are reserved for markets like vanilla, crude oil and currency, but not for shopping staples. At the end of May 2016, European butter futures had established a new monthly record for futures traded, with 1,382 butter contracts having been established. This phenomenon is not just confined to Europe; there has been an increased demand globally for all types of fats (people trending toward anti-sugar and organics).

Digital Procurement: Unintended Consequences Can Be Golden Opportunities

Editor’s note: This is the final post in a three-part series on digital disruption from a procurement professional’s perspective. Also check out Part 1 and Part 2.

Unintended consequences are mostly thought of negatively, but sometimes unexpected things open the door of opportunity. When you undertake a digital project, you often are dealing with the new and untried — and the chance of some pleasant unintended consequences. That’s when things get fun.

“Buy Online, Pick Up in Store” Services Increasingly Popular Among Consumers

JDA Software Inc. released Monday its 2017 survey on U.S. consumer attitudes toward in-store shopping and e-commerce. With no one batting an eye over free two-day shipping anymore and drone deliveries on the horizon, it’s no wonder that only 54% of the 1,000 consumers JDA surveyed said they prefer to shop in a physical store. In other words, nearly half of shoppers prefer to make purchases online or through a retailer’s mobile app. Interestingly, this pattern was consistent across age groups.

Advances in Neuromarketing and Your Buying Decisions: What Can’t Speak Can’t Lie

Spend Matters welcomes this guest post from Diarmuid O’ Donoghue and Khusboo Kadmawala, of GEP.

Do you really think that you make your own buying decisions? I urge you, think again. As several recent experiments from the field of neuromarketing illustrate, your own subconscious thoughts and desires may actually speak louder than your rational thoughts.