Best Practices Content

25 Procurement Productivity Improvements You Can Make Right Now (Part 1) [Plus+]

In April 2013, Spend Matters conducted a research study (sponsored by Hubwoo) with ISM (The Institute for Supply Management) to focus on how to improve procurement productivity. Even though procurement has a >10X ROI as a function, it is still under the same pressure as other functions to improve productivity, especially since they’re typically asked to do even more (beyond spend savings) with less. So, we came up with a punch list of 25 things that procurement organizations could do to free themselves up from the tactical and focus on the strategic.

Sourcing Validation as a Best Practice

Spend Matters welcomes another guest post from Jeff Muscarella of NPI, a spend management consultancy focused on eliminating overspending on IT, telecom and shipping. In […]

Tackling Tail Spend and Spot Buys (Part 2)

Hackett suggests that the largest opportunities for improving process effectiveness for spot, tactical and tail spend buying focus on four areas: complexity and compliance, supplier […]

Commodity Price Management at BorgWarner [Plus+]

In a Supply Chain Management Review article I penned last year, I talked about some research I had done regarding the integration (or lack thereof) of input cost planning and forecasting to the business plan (including the impact on profit). The figure below shows that 39% of procurement organizations perceive that they do a decent job at mitigating price inflation, but less than a third have an integrated cross-functional process for doing so, and only a fourth of firms use centers of excellence, specialized analytics, and third-party services to help them anticipate future input costs.

Commodity Price Management at BorgWarner

Part 2: Going Deep in Profit Risk Mitigation and Improvement In Part 1 of this post, we introduced the general concept surrounding commodity purchase price risk management. […]

The Importance of Master Data

In today’s business world, data is a valuable corporate asset which, when managed properly, can support a company’s ability to achieve strategic goals and financial […]