It’s no secret that the Spend Matters team has been geekily excited about the procurement implications of blockchain for years — seemingly right on the heels of the Dark Web, TOR and Silk Road becoming a thing. What is far more important to the world of procurement — and for that matter, the world of broader supply chains and global trade — is that blockchain brings the potential to become as important to our technology lives as the spreadsheet, ERP/MRP systems and source-to-pay technology suites that we use everyday, as Spend Matters Founder Jason Busch puts it.
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.
The Hackett Group and Ivalua presented a webinar this month on this year’s key procurement issues, and digital transformation stood out perhaps most of all. What does digital transformation really involve, and how can procurement get on board? The presenters explained that there are four main areas to look at, with the overarching one being improving the stakeholder experience.
The world’s second-largest copper mine, the Grasberg open pit mine, in Indonesia, sits idle as its operator, Arizona-based Freeport-McMoran, and the government of Indonesia squabble over permitting issues. President Donald Trump’s administration is mulling changes to how the U.S. calculates trade deficits. The Week in Metals brings you the latest procurement and supply chain news from our sister site MetalMiner.
In case you missed Part 1, which covered millennials’ self-described strengths, the insights in these posts came from Q&As with a number of the 2014 ISM/ThomasNet “30 Under 30” winners, who are at the older end of the “millennial” generation that usually includes 15- to 35-year-olds. As far as weaknesses go, these millennial professionals agreed with some of the oft-repeated beliefs — that millennials are lazy, entitled, inexperienced, etc. — and picked fault with others.
When I wrote to several of the 2014 winners of ISM/ThomasNet’s “30 Under 30” competition recognizing young talent working in supply chain, I asked them how they think their generation will change the procurement and supply chain profession. I also asked them how they would describe their generation’s strengths, weaknesses and challenges as pertaining to supply chain. And as I read through their responses (my sincere thanks to all who participated!), common themes emerged.
The CW/S world is rapidly changing as new and truly disruptive technologies emerge and as the employer-employee relationship evolves. How will this affect the average procurement practitioner? That is the topic to be covered on a webinar tomorrow (Wednesday, Feb. 22, at 12:30 p.m. CST), titled Contingent Workforce and Services (CW/S) Procurement: 2017 Tech Trends and Their Impact on You. We encourage our readers to tune in as Karpie and Spend Matters Founder Jason Busch break down CW/S technology trends and where they’re taking root.
Coupa’s first update of the year, Release 17, offers a new application called “Perfect Fit Insights” for cross-customer B2B insights and more than 50 features across the platform including new collaboration mechanisms to work with suppliers and additional e-invoicing compliance templates.
We published an in-depth analysis of Release 17 on Spend Matters PRO, but here is a quick recap on what you can expect from the solution update.
Contingent workforce procurement and management in a professional services company is oftentimes a unique activity. Performance metrics, while similar to other programs, are prioritized differently. Costs are monitored more closely, as they are directly tied to operating margins, and time to fill is a crucial metric. For a large program that hires thousands of contractors yearly, each day of cycle time reduction can add millions to the top line.
In one of my conversations with a “30 Under 30” winner who’s about to hit 10 years in the procurement profession, I realized the in hindsight highly obvious fact that millennials are growing up. They already make up a third of the workforce. The older among them are stepping into managerial positions. They’re hiring and mentoring younger employees. They’re giving talks at conferences and industry events. And a decade from now, they could even be CPOs.
When it comes to the intersection of social media and procurement, we’re all interested in how to use it effectively, whether it’s to improve our relationships, our jobs or both. Yet at times, the magic of its use can seem elusive. More and more public-facing platforms (the Facebooks, Twitters, Snapchats) and private/collaborative ones (the Procuriouses...Procurii?) seem to crop up every day, but where to start?
I sat in front of a camera that appeared to pan around the office — even though it was powered down.
As I tinkered with three remote controls, attempting to connect our virtual conference room to one in the southern hemisphere, I could not suppress my most paranoid instinct that perhaps our headquarters in Rio de Janeiro bugged our equipment to allow them to monitor the movements and voices of their North American employees.
My supply chain counterparts in the Brazilian corporate headquarters of one of the world’s largest oil and gas exploration companies called an ominously last-minute conference on a particularly sweltering spring day, which was already packed with activities for our impending ERP “go live.”