Recently I talked to Mike Bassi, director of partnerships at Runzheimer, a provider of mobile workforce solutions that works with more than 1,300 companies. One of Runzheimer’s areas of expertise is mileage spend, and I was curious to hear about technological advances in expense management from a provider’s point of view — as well as ask about how common low-level expense fraud is.
Sourcing and Categories Content
Last Friday, Spend Matters Founder Jason Busch and Chief Research Officer Pierre Mitchell teamed up to present the webinar Risk and Compliance Management: Embedding Risk Management in Procurement and Supply Chain. Busch and Mitchell began with a segmentation of the types of supplier and supply chain risk and compliance management technologies out there, before moving into the topics of how to embed these technologies throughout your procurement and supply chain functions. They discussed the best ways to create linkages with other areas of procurement technologies, as well as how to create a procurement culture that is risk-aware.
Last month, I came across an article on Medium about Ivanka Trump’s fashion line and a group of six researchers’ attempt to unravel the supply chain behind the apparel. Sure, the fact that she is the daughter of President Donald Trump may have given the matter its newsworthiness — after all, plenty of celebrities lend their names to clothing lines — but I was curious whether Ivanka’s “women who work” platform extended to employees farther down the supply chain. Do women’s rights to, say, maternity leave, apply to the female factory worker sewing dresses in China or Indonesia — or just to the women buying those dresses?
In a related article last week, we tried to get (a little closer) to the bottom of the whole Mexico border tax issue. Although there are still two potential camps of “tax” — President Trump’s potential blanket tax on Mexican imports, and the broader Border Adjustment Tax (BAT) that comes from proposed Republican corporate tax reform — procurement organizations on both sides of the border have immediate concerns.
There are several customer and technology trends to look at for strategic sourcing, not to mention spend/supply analytics, supplier management and contract management. These and other topics are just samples of what Spend Matters Founder Jason Busch will be discussing on today’s webinar, Sourcing, Contract and Supplier Management: Predictions and 2017 Tech Trends, at 1 p.m. CST. If you want to stay on top of all the latest technological advancements and make the smartest investments for procurement analytics, sourcing, contracting or supplier management efficiencies, this is a webinar not to miss.
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.
As a procurement professional, I’m primarily tasked with identifying the best ways to utilize our spend and influence to as to create the maximum advantage for my organization. Obviously, this is extremely valuable for the company but can sometimes leave me feeling a bit uninspired. As a purchases manager at a global consumer products company, I was known to say to my closest colleagues, “It’s just soap and toilet paper. We are not changing the world.”
However, several years ago I was presented with a rare chance to make a difference in a way that was highly meaningful for me. I may not have realized it at the time, but I was fortunate to work in an organization that called out supplier diversity as a critical factor in its business strategy. A category plan couldn’t be written that didn’t include a supplier diversity component, and an RFP or business award couldn’t be made without addressing how we will reach our diversity targets.
This may seem like a ridiculously simple question whose answer comes embedded in the term itself (“Managing suppliers!”), but it can be tricky. Supplier management is a broad term, and it has become ever broader in its evolution from a post-contract area to include also strategy and planning and other pre-contract activities. In other words, supplier management has become supplier lifecycle management. But to nail down a pithy definition for supplier management, it is “simply the management of supplier-facing business processes throughout the lifecycle of a supplier,” as Spend Matters analysts Michael Lamoureux and Pierre Mitchell put it in their Supplier Management 101 series.
It’s been a difficult few years for Nutella, that delicious chocolate hazelnut spread made by Ferrero. First, it was linked to the loss of critical natural habitat for orangutans, due to one controversial ingredient: palm oil. Then, more recently, dramatic headlines claimed Nutella consumption have bigger health implications than ingesting all that sugar. “Could Nutella give you CANCER?” screamed the Daily Mail. And that was also due to one controversial ingredient: palm oil.
President Donald Trump followed through on one of his central campaign promises Monday by officially withdrawing from the Trans-Pacific Partnership (TPP). And while trade with China, Vietnam and other Asian countries is certainly of concern to most procurement groups, our neighbor to the south also needs to be on your radar 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.
Spend Matters welcomes this guest post from David Wadler, CEO of Vendorful.
Some people suggest that the chances of generating good ROI on a major purchase are effectively a flip of a coin. Unfortunately, those odds may be wildly optimistic.
In 2015, the Boston Consulting Group published a report detailing the results of a study about large IT purchases ($10 million or more). The study found that the odds of successful delivery — on-time, on-budget and meeting the specified objectives — were roughly 10%. Put differently, achieving a positive result on such a project would be closer to flipping a coin and getting heads three times in a row.