Sourcing & Categories Content

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Why Marketing Contributes to a Terrible Spend Culture

marketing spend

Notwithstanding the obvious differences in personality, the mutual look of incomprehension when the CMO and CFO try to explain to each other what they actually do, marketing and finance have never been particularly pally. It’s not just the stark difference in their background, it’s not even the daunting task of proving ROI on an ingenious marketing campaign to a number-crunching CFO, or the danger in committing company funds to some radical idea based on a marketer’s sudden, Steve Jobsian flash of insight into the minds of customers. The things that can cause an ugly spat between marketing and finance are actually much more prosaic.

Beyond Logistics: 6 Non-Traditional Categories Where Companies Should Apply Sourcing Optimization

What exactly is sourcing optimization, and where can it be applied, besides the obvious areas? Earlier this month, Spend Matters analysts Michael Lamoureux and Tom Finn teamed up with Garry Mansell, sourcing optimization general manager at Coupa, on a webinar on this very topic, “Sourcing Optimization in New Categories: A ‘How-To’ Guide.” As the webinar title suggests, this isn’t about logistics or MRO, but rather some more non-traditional categories — six to be exact — where sourcing optimization can bring significant savings.

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What is Market Intelligence, and is it Relevant to Procurement?

Torchlite

As procurement takes on increased strategic importance within companies, purchasing professionals are being asked to do even more with their limited time. This is especially true when sourcing direct materials, which requires keen attention to many changing economic factors outside of the organization. To make the best decisions possible without falling behind, procurement must ensure it has access to and effectively uses supply market intelligence. To help practitioners understand why, this three-part series first outlines the key pillars of market intelligence, explaining why companies seek out this capability. It then explores why market intelligence matters to procurement, and concludes with an analysis of why businesses should seek help from a third-party provider to build out a market intelligence program.

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.

Resilinc EventWatch Data: Factory Fires and M&A Activity Rank as Top Disruptive Events

supply risk

Resilinc recently released its 2017 EventWatch Supply Chain Disruption Annual Report, and the top two disruptive event types by a significant margin were factory fires and explosions and mergers and acquisitions. The report is based off the 2017 data collected by Resilinc’s EventWatch software, which monitors and analyzes global events that are potentially disruptive for supply chains and then alerts customers. In 2017, EventWatch published on average five bulletins a day.

Word of Mouth May Dominate Legal Services Procurement, But Practitioners Want Better Options

When it comes to legal services procurement, a contradiction emerges in what businesses want and what they do. Although in-house lawyers at companies across the globe value sector breadth and expertise most in a search for law firms, the majority still make their choices based on personal connections rather than a neutral assessment of skill and fit, according to Global Trends in Hiring Outside Counsel: Exploring the Need for a Better Way to Identify and Appoint Law Firms, a new report commissioned by Globality.

U.S. Companies are Rethinking Risk Management Strategy After the 2017 Hurricanes

For many large U.S.-based companies, last year’s hurricanes and the damage they brought have been a wake-up call. A survey of senior financial executives at U.S.-based companies with revenues of more than $1 billion, commissioned by FM Global, revealed that the hurricanes have prompted 68% to adapt their risk management strategy for the future.

Who’s Adopting T&E Management Software, and Who Isn’t? Breaking It Down by Industry and Revenue

Oversight Systems

If expensing that hotel stay or work lunch requires you to keep paper receipts, you are in good company. According to a report from PayStream Advisors, more than a third of employees file expenses either by mailing paper receipts to their AP department or through a combination of scanned receipts and spreadsheets. Nearly two-thirds, however, report that their organizations use a dedicated expense software tool. And as companies move along in their digital transformations, the trend in travel and expense (T&E) management is certainly away from manual systems.

Investigative Report Details Toxic Gas Poisoning and Other Serious Labor Violations at Key Apple Supplier

China Labor Watch released a lengthy report Tuesday detailing appalling work conditions at Catcher Technology, a supplier of computers, digital cameras and other products to Apple, Dell, HP, IBM and Sony. The factory under investigation, however, is primarily an Apple supplier, producing iPhone frames and MacBook components. Among many other labor violations, China Labor Watch found toxic gas poisoning, unsanitary food, inadequate protective gear and excessive pollution during its investigation of the Catcher factory in Suqian, China, conducted from October 2017 to January 2018.

Commodities Roundup: Cotton, Aluminum, Steel and Nickel were this Week’s Big Newsmakers

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, we scour the landscape for what matters.

Healthcare Consumerism: Supply Chains that Follow the Patient Home

There’s been a lot of talk about “healthcare consumerism” lately. Is it really about increasing competition among insurance providers? As the acute care market continues to consolidate and vertically integrate, aren't the insurance pickings for most of us getting conspicuously slim, especially if employers are making our coverage decisions? Here’s where I’ve landed: If healthcare consumer advocates are relying on insurance companies to drive “consumerism,” then they’ve put the cart before the horse. My money is on the jockey, and the jockey in this race is good old-fashioned consumer preference.

A Revamped Operating Model is Key to Alleviating Retail’s Sourcing Woes, Report Suggests

As countries continuously replace one another on the list of new, promising apparel sourcing destinations, a report from Kurt Salmon, part of Accenture Strategy, suggests that this is but a short-term fix. The report, “From Cost-Cutting to True Value Creation — On the Road to Analytical Sourcing and Supply Chain,” proposes a smarter long-term strategy that would require retail to adapt its operating model.