Working at the nexus of enterprise technology and procurement strategy, we see the words “disruption” and “innovation” a lot here at Spend Matters. So often, in fact, that every time I come across either of these words, whether in a press release or marketing copy, the letters begin to blur together and a strange ringing noise fills my ears. Maybe that’s an exaggeration. But I do know that the increased appearance of disruption and innovation in my daily reading has caused me to question whether some writers pick those words for their specific definitions or just to liven up a sentence with an adjective that surely means only good things.
The Procurement Category
The procurement suite technology market today looks very different than it did a decade ago. As we continue our analysis and observations of the sector based on Porter’s five forces framework (see our initial posts on the topics here, here and here), we come to the third of Porter’s forces in our analysis: new entrants/barriers to entry.
Applying a Porter five forces framework to a given industry, sector or company is like baking. It will be a recipe that results in succes. Or failure. There’s not much in between. And it can be surprisingly tricky to get right, especially if you’re prone to trying to improvise the various ingredients or measurements. I recently authored a five forces framework exploring procurement technology suites based on Porter’s model. Let’s see today how effective the exercise was in representing the market by exploring customer and buyer power from a Porter context.
The Amazon Go story isn’t really about retail, but rather about the broader supply chain. Amazon finally topped the leaderboard on the Gartner supply chain rankings last year — and not just because of its role in retail, but because of its broader supply chain and digital capabilities. These capabilities have been built methodically and also incrementally. The capabilities then help “unlock” value down the road.
What began as an investigation of whether procurement has been good or bad this year turned into whether this year as been good or bad to procurement. After all, is Brexit (and its accompanying unknown consequences and risks) really procurement’s fault, for example? Or earthquakes? Or dead cows? Of course not, but recurring supply chain scandals are no good – not that cheerier things haven’t happened this year. Read on for a recap.
This is Part 3 in a three-part series exploring a brief history of procurement technology and how expectations and solutions have evolved — incredibly rapidly, we might add — to meet a changing set of procurement expectations and requirements. Today’s installment looks at where procurement technology is headed.
This is Part 2 in a three-part series tracing the evolution of procurement technology and the value it has generated in the past, expectations for today and where things might be headed in the future. In this installment, we’ll explore how expectations for procurement technology are changing in today’s environment.
November 2016 will not go down in history for anything to do with business, procurement or share prices. The election of Donald Trump certainly seemed to be a seismic event, although we will have to wait and see. Perhaps the biggest shock of all will be if he turns out to be an OK sort of president – not too bad, not brilliant either. Given that one camp has absurdly high expectations of him (“draining the D.C. swamp”) whilst another believes he will lead the world to Armageddon, wouldn’t that be the real surprise?
There’s a lot more noise out there in today’s hyperconnected world, and the signal seems to be harder and harder to find. Separating the bluster from the information that really matters is a key skill for those working in knowledge-based professions, whether that means finding the supplier that really fits your company’s needs or picking a software solution that can add to procurement’s value proposition. Just how to do this is what Spend Matters Chief Research Officer Pierre Mitchell explained in a newly released episode of the Art of Procurement podcast.
In a recent PRO analysis, Jason Busch, founder and head of strategy at Spend Matters, and Lisa Reisman, director of research and executive editor at sister site MetalMiner, explored what impact the Trump presidency will have in procurement — more specifically, on infrastructure, the greenback and more. Join Jason and Marco H. de Vries, of OpenText Business Network, tomorrow at 10 a.m. CST for a webinar on everything you need to know to prepare yourself and your suppliers for the oncoming Trump presidency.
This three-part series traces the evolution of the procurement software market with a focus not on modules and applications, but on the ways in which we actually use technology to generate value. I will explore how solutions have progressed over time, not only as technology has gotten more sophisticated but also as the procurement function has evolved and new expectations have been placed on it by the business and shareholders alike.
President-elect Donald Trump's campaign featured plenty of rhetoric, but how can you separate that from what procurement and the supply chain will actually experience beginning Jan. 20? Join Jason Busch, founder and head of strategy at Spend Matters, and Marco H. de Vries, senior director, product marketing at OpenText Business Network, on Tuesday, Dec. 13, at 10 a.m. CST, for Trade, Environment and Economic Policies in 2017: Is Procurement Ready?