L2 Content

Give Your Company a Personality Test Before Contracting for Services

Spend Matters welcomes this guest post from Gary Weiss, Flash Global's vice president of pricing, procurement and inventory management.

If your company were a human who could sit down and take a personality test, how would it score? Every company is like a person, with an individual temperament, strengths, weaknesses and quirks. Instead of "personality," though, we call it "corporate culture." Company culture affects every aspect of business operations, including employee recruitment, retention, development, business practices and vendor relationships. These five questions will help you define your corporate culture and find a service vendor who is a good fit.

Procurement, C-suite Often Not on Same Page About Hiring and Development, Experts Say

marketing procurement

A frequent topic in procurement is how can CPOs get a seat at the chief executives’ table, but finding that sweet spot with the C-suite can be elusive. Some of the frustration comes from procurement departments and C-suites being misaligned on how to hire the best people, a study shows. And procurement veterans at a recent APICS conference said hiring talented people and developing the current staff can help with that high-level relationship.

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Procurement’s Spend Analytics Expertise is Untapped Strategic Lever for M&A success

Mergers and acquisitions provide a constant reminder of how business is always in flux and how executives need to meet the challenge of managing it. The first 100 days after a merger or acquisition often set the tone for the new entity and can influence long-term success. The environment is typically perfect for early procurement synergy capture, where when executed correctly, procurement optimization can improve EBITDA by an average of 10% to 30%, which is one reason why procurement is an untapped strategic lever for M&A. With effective spend analytics, organizations can better size up the savings based on the combined entities spend in key procurement categories and identify the commonality of suppliers across the merged entities and categories where spend is highly fragmented.

How Procurement Can Help Save The World From ‘Lease-Pocalypse’

contract

In less than 90 days, one of the biggest accounting changes the world has ever witnessed will take effect. Starting in January 2019, a new set of rules will require companies to begin transferring almost $3 trillion worth of leases onto their balance sheets. Going forward, leases will be center stage in financial reports. To apply the new accounting standards, businesses must really know the leasing contracts. Only the procurement team has that deep knowledge.

Spend Matters welcomes this guest post from Steve Keifer, LeaseAccelerator's vice president of marketing.

7 Tips: A Guide to Mastering Procurement Transformation

Spend Matters welcomes this guest post from Alex Saric, Ivalua's chief marketing officer.

As the role of procurement continues to evolve, a new approach is required. Leaders are transforming their organizations with a new mindset, new processes and new technology. Having worked with hundreds of leading organizations as they transform procurement, I’d like to share these seven tips for procurement managers that should serve them well.

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10 Questions to Ask in a Purchase-to-Pay Demo

Sometimes cleverly crafted demos can gloss over important nuances or mask inadequacies, which can cause major problems later during implementation — and the dreaded scope creep. So, here are some areas that I recommend digging into and questions to ask during a purchase-to-pay demo. 

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5 Essential E-Procurement Operations Capabilities

A wealth of information exists for companies contemplating the launch of an e-procurement platform. Yet learning about the capabilities needed to support ongoing operations has been extremely difficult — until now. Our latest eBook, E-Procurement Operations: Post-launch Capabilities to Ensure Your Success, provides insights on the capabilities needed for successful e-procurement operations.

Economic Outlook: Procurement Should Expect Headwinds and a Downturn Ahead

e-procurement market outlook

KKR’s David McNellis, the head of research for KKR’s Global Macro and Asset Allocation Team, shares his views on the macro economy, with a forecast for a downturn in the U.S. and other countries. Of note to procurement professionals are McNellis' view on inflation and commodities outlooks, as well as the top four risks that businesses need to prepare for heading into 2020.

With Business Up But Politics Volatile, Uncertainty Is the New Certainty for Procurement

Deloitte Global CPO Survey 2016

Spend Matters welcomes this guest post from Naseem Malik, managing partner at TYGES International.

Life should be good for procurement professionals these days, if conventional wisdom is to be believed. Companies are hiring, spending and facing growth-related opportunities/challenges not seen in almost two decades. There’s renewed confidence with the business-friendly policies, and there’s a sense that a 4% GDP growth can be the new normal for the U.S. economy. But reality is not quite as rosy. From vitriolic trade negotiations to overnight tariffs, sanctions and currency fluctuations, companies are facing levels of volatility not seen in decades.

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Working Capital Optimization: 3 Things to Avoid

In my last blog I outlined why you needed to reconsider your approach to working capital and why current programs are limited in their capabilities. In this blog I wanted to outline the things you need to avoid, or at the very least be aware of when approaching a working capital program.

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Procurement Benchmarking in the Era of Big Data

Let’s be honest: most benchmark reports promise much but deliver little. They often start with good intentions but focus on high-level best practices or rely on survey questionnaires to gather their data. Benchmarks can take weeks or months to develop, and even then they are often discarded if they can’t give concrete action points to procurement. At the same time, we live in the era of big data. Perhaps you’ve heard that more data has been created in the last two years than all of the previous human history. As data becomes the oil of the fourth industrial revolution, why wouldn’t we put all this data into action?

Why Supply Chains Should Put Curbing Global Food Waste at the Forefront

More than 2 billion tons of food worth $1.5 trillion could be wasted in 2030, according to the Boston Consulting Group. It’s not an unrealistic estimate considering the 1.6 billion tons worth $1.2 trillion lost just three years ago. Food waste is a concept so vast and systemic that one must go beyond the individual impact and look toward how entire companies involved in the process – from production to consumption – can actively work in a way that helps solve a global crisis while attaining tangible business benefits.