Guest Posts Content

4 Ways Law Firms Can Evolve Their Procurement Strategies Beyond Savings

forced labor

Spend Matters welcomes this guest post from Clay Fox, senior director at HBR Consulting.

New technology and regulations, increased client scrutiny into risk management protocols and interest in supplier diversity programs, along with expectations around improving law firm operations and internal controls, have all spurred recent changes in law firms’ procurement functions, making one thing clear: procurement’s value can no longer be judged by savings alone. As we navigate the early months of 2018, law firms looking to set themselves apart in the market need to think well beyond the status quo. By focusing on four key areas in 2018, procurement can prove that its value extends far beyond savings.

How to Minimize Exposure Risk in a Global Food Supply Chain

Spend Matters welcomes this guest post from Megan Ray Nichols, a freelance writer covering STEM topics.

We all live in a global society now — a reality that includes, to a greater extent each year, our entire world’s food supply chains. If you and your business represent some of the critical pieces in this vast and interconnected ecosystem, you need to know you’re doing everything possible to insulate yourself, your product and, perhaps most critically of all, your end users from all types of risk that may introduce themselves along the way.

Valentine’s Day: Strawberry and Chocolate Prices

Spend Matters welcomes this guest post from Rutika Ghodekar and Corrina Hutchings, market analysts at Mintec.

If you search online for romantic foods, chocolate covered strawberries are top of nearly every list. They are a great snack to share with your partner or with your friends over a movie while you share a bottle of champagne to celebrate love and friendship. They are indulgent without ruining all that hard work you’ve been doing for your New Year's resolutions to work on your waistline. But will they break the resolution on saving those pennies? Let’s take a look at what’s been happening in our favourite Valentine’s commodities.

Data to Dollars: How Data Monetization Drives Business Transformation

Spend Matters welcomes this guest post from Pedro Arellano, vice president, product strategy at Birst, an Infor company.

Your department, and entire company, produces vast amounts of data every day. Early on, you may have harnessed enterprise data to improve internal operations and achieve new efficiencies. Perhaps your company has embarked upon a digital transformation journey driven by data. But there is a new opportunity that will distinguish the leading companies from the laggards: monetizing your organization’s data by developing and delivering commercial data products.

How Relevant is Personality to a Negotiation?

Spend Matters welcomes this guest post from Jonathan O'Brien, CEO of Positive Purchasing. 

There are many personality traits that can both help and hinder a negotiation: a fear of failure, a desire to win or even our own sense of self-belief. Of course it’s not just our thoughts and feelings that are affected by our personalities — they also drive our behavior and make us unique. Personality has a big role to play in any negotiation, as it influences how we see the world and make decisions. This, in turn, drives how we behave. If some or all of our personality is shaped by early environment and through education and experience, it would explain why there is such a thing as culture-specific behavior.

US Coal Struggles to Leave its Mark

Spend Matters welcomes this guest post from Jonathan Stokes, market analyst at Mintec.

When Donald Trump ran his presidential campaign in 2016, he did so with the pledge that he would transform the US energy market, cementing America’s place as an energy-providing superpower. The foundation of this new energy empire would be built similar to the industrial revolution, based on coal. While the rest of the world moved towards a cleaner future, would America be taking a step back?

5 Best Practices to Improve Accounts Payable Processes

invoice

Spend Matters welcomes this guest contribution from Steve Johansson, director of marketing at iPayables.

The act of processing your invoices and handling your accounts payable has traditionally been considered a reflexive function of business, but in today's digital age it can become more strategic. Automated accounts payable solutions have undergone a significant evolution regarding efficiency and functionality, primarily through software that streamlines the entire process to ensure that best practices are being implemented consistently. The following is a list of methods you can use to within your accounts payable team to streamline your business and maximize the benefits of digital technology.

Transforming Supplier Management: From Policemen to Innovation Catalyst

Spend Matters welcomes this guest post from Dave Tienstra, Partner at Information Services Group (ISG).

Modern enterprises are evolving quickly, and with that transformation, their expansive, locked-in, long-term supplier relationships are giving way to digitally enabled, data-driven supplier ecosystems marked by collaboration, a fluid set of suppliers and a mutual exchange of data and information that drives new insights, delivers new innovations and empowers a new way of managing supplier relationships.

Californian Raisin Prices Soar on Strong Demand and a Decline in Production

raisins

Spend Matters welcomes this guest post from Jara Zicha, market analyst at Mintec.

Turkish prices have also risen since April, buoyed by soaring prices in the US, but at a much slower rate, by only 25%. Californian raisins usually trade at a premium to Turkish produce, but this year, following the harvest, the price difference between the two origins increased rapidly.

Cobalt and the Sustainability of Electric Vehicles

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

Recently I have been reading a number of case studies based on some of the world’s leading sustainable and socially responsible firms, ranging from Unilever’s work in Brazil and Danone’s work in India to Vodafone and their mobile payment systems in Kenya. One of the other favorite firms for academic research is Tesla, with its “greener than thou” philosophy. Delving a little deeper into the mechanics of batteries, however, the word “cobalt” rang a number of alarm bells.

How to Incorporate Diversity and Inclusion Practices Into Contingent Labor Programs

supplier diversity

Many organizations struggle with how to incorporate D&I practices within their contingent workforce. In response to concerns regarding co-employment, buying organizations tend to keep non-employees at arm’s length. But given the increasing number of contingent workers in the workforce mix, as well as the central role they are playing in more organizations, one could argue that a different approach should be considered in acknowledgement of the changing dynamics.

Market Speculation Puts Soybean Oil Prices on Roller Coaster Ride

GMO

Spend Matters welcomes this guest post from Jonathan Stokes, market analyst at Mintec.

We, as analysts, steer the market more than we like to think. A prediction or forecast one way or another can be a significant factor in driving commodity pricing. During the summer, the USDA did exactly this, surprising markets when they forecast higher US soybean production, despite adverse weather conditions throughout the crop development period. So when market prices of soybean and soybean oil shot up at the beginning of October due to the downward revisions of USDA production estimates, what went wrong?