Plus Content

Are You Wasting Time and Money on Technology RFPs? [Plus+]

Technology selections are a serious but often overlooked topic, especially given not just the time and effort involved — but also how long you'll live with the results of your decision. This article describes many cost/benefit aspects of the RFP process when it comes to technology solutions and shares some insider "secret" provider insights. We will also share how to avoid allocating inordinate amounts of time and resources in return for a suboptimal outcome. More importantly — and this might sound like a bold statement — sometimes (maybe even most of the time) it just doesn't make sense to do an RFP! Sourcing practitioners might scoff at this, but read on as we challenge the notion that an RFP is the best path to a successful solution provider selection outcome. 

Improving RFP-Driven Technology Sourcing Outcomes: Strategies and Tactics [Plus+]

e-procurement

How can you be a better prospective customer of choice and improve your odds of success? You can start by following our mini “buyer boot camp” to lower total costs, improve your selection success and even start to smell like roses to solution providers (and become a customer of choice) by sticking to a handful of key strategies. Some of these are likely to be highly intuitive, others less so. But following as many of these steps as possible is key.

Write Better RFPs: How to Get What You Want (and Need) From Suppliers [Plus+]

RFP

The typical business challenge when you go to market with an RFP centers on getting ideas for what is possible, and identifying suppliers that either already have these ideas or are willing to work with you toward that end. Targeted activities are often services or complex products where quality, service or the engineered final product will be different from each vendor responding. We've put together some fresh ideas to an old challenge: conveying your needs in ways that a supplier can relate to and that encourages them to put their best foot forward, with a proposal that goes beyond your wants and addresses your needs, as well.

A Different Sort of Influence: 16 Areas Where Supplier Management Can Help Engage Your Stakeholders Strategically (Part 1) [Plus+]

Supplier management is too often an afterthought in the eyes of procurement and its stakeholders. Yes, it's important to collect supplier qualification information through the sourcing and onboarding process, and then also monitor the suppliers against their contracts to get what you paid for and to reduce supply risk. But shouldn’t there be more to supplier management?

Progressive organizations are beginning to use supplier management (and third-party management more broadly) as a better overall governance structure for how to best externalize the enterprise. This is especially true as supply markets get digitized (and disrupted) and supplier innovation can be brought to bear beyond cost/spend savings.

“Innovation management” is indeed one of the areas where a supplier management approach can help procurement influence stakeholders, but there are 15 other ways, as well. Having a broader palette of value creation (for which we’ll discuss six major value streams) will not only help improve spend influence but also improve the quality of influence to help elevate procurement’s value proposition.

Supplier Onboarding: Implementation Tips and Key Recommendations (Part 3) [Plus+]

So far in our PRO series exploring the nuances of setting up a supplier onboarding program we’ve delved into many specific steps and elements necessary to implement an effective process. Yet achieving a level of program certainty around these recommendations and plans is not realistic prior to engaging with a solution provider – unless you are prepared to pay separately for the provider to go through the scoping and delivery documentation as an independent engagement (which can be a smart approach, and probably something that you can get at least partial credit for if you award the solution business later on).

Supplier Onboarding: Linking Design With Action (Part 2) [Plus+]

You’ve defined a strategy for supplier onboarding and given full consideration to all of the elements that make your requirements unique. You’ve fully considered which internal stakeholders besides procurement need to be included in the process of supplier onboarding and management. And you’ve mapped specific initiatives to onboarding requirements. But now it’s time to define specific supplier onboarding workflows, fully linking design with action.

Supplier Onboarding: Defining and Setting a Strategy (Part 1) [Plus+]

online talent platforms

The sourcing exercise is over, and you've found a great new supplier. You've vetted, scrubbed and polished throughout your diligent sourcing process. The contracting has just concluded, and the new contract still smells of fresh ink. The savings look great, so you toss everything over the fence to the vendor management team and accounts payable to get it sorted out so users can start saving money. A month later, you meet the new supplier and find out that no new business has been awarded to them, and that they are still being held up in the onboarding process. So, what is this onboarding process, and how can it be improved? That is the topic of this three-part Spend Matters Plus series.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 4) [Plus+]

As we conclude our initial series on creating a roadmap for success with supplier diversity initiatives (see Part 1, Part 2 and Part 3), we come to a handful of final, in many cases tactical, recommendations that can make or break program success. These are the “school of hard knocks” lessons focused on supplier diversity data management that we encourage our readers to take to heart, learning from the mistakes of others (including us) as we’ve helped to rollout and manage these programs over the years for dozens of organizations.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 3) [Plus+]

Perhaps the most important element that supplier diversity professionals should incorporate into their program management efforts is how to constantly incorporate general procurement efforts within their own. Working with general procurement should be the top priority for diversity teams. All too often, the trap for supplier diversity professionals is to lead a silo-based activity with few touch-points with general procurement.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 2) [Plus+]

For outcomes, whether you get preferred delivery, higher quality, better post-sales support, more favorable warranties or better pricing based on prompt payments as a result of getting diverse suppliers paid faster than the norm, it is important to consider the need to engage the broader finance organization (e.g., AP) and even other functions to implement a program successfully. And try to broaden your vision and go outside the standard procurement playbook in the process.

Supplier Diversity Meets Supply Management: A Roadmap for Success (Part 1) [Plus+]

suppliers

There are few areas within the walls of corporate America that stir up emotions and opinions like supplier diversity. Regardless of where you stand regarding supplier diversity programs and how supplier diversity can be done right — because it can definitely be done poorly, even catastrophically so — this research brief is meant to serve as a general primer for procurement professionals needing to bring supplier diversity into their daily activities across the supply management function. We also hope it will prove useful for newly appointed supplier diversity managers and for senior procurement managers and corporate directors wanting to understand how supplier diversity fits in with their business, day to day and strategically. Our intention is to help you make the business case not just for greater investment in diversity programs but for the right programs to begin with. 

Tying up T&E Loose Ends: T&E Meets Risk Management (Part 3) [Plus+]

In previous installments of this Plus series, we discussed the amount of risk companies face when deploying workers around the globe and what precautions the company and its workers must take. In Part 1, we specifically talked about duty of care provisions, and in Part 2 we continued his analysis of corporate travel risks. Today, we complete the series by offering a number of recommendations companies should take regarding T&E management.