supply management Content

CIPS and Spend Matters launch ‘Spend Friends’ monthly podcast — with a list of Top 10 challenges for 2021

As part of a new partnership, the Chartered Institute of Procurement and Supply (CIPS) and Spend Matters launched a video podcast this week called “Spend Friends” to discuss all things spend management, supply chain, risk and everything else under the procurement umbrella.

The podcast is hosted by Bill Michels, the VP of Operations — Americas at CIPS USA, and Pierre Mitchell, Spend Matters’ Chief Research Officer. With their years of experience, they plan to impart key wisdom and ideas for procurement practitioners of all ages and skills in each monthly video podcast.

In the first episode, Michels and Mitchell shared their insights into what they think will be the top supply chain trends of 2021.

Supply Performance Management – Introduction [Plus+]

Managing enterprise performance is a critical skill for any company, and the concept of Enterprise Performance Management (EPM) has been around for many years. It is basically a process that plans, monitors, and adjusts the performance KPIs and targets (and capabilities needed to hit them) needed to achieve the enterprise mission. It's basically the process of using balanced scorecards to create alignment – from the boardroom down to the activity level. For procurement organizations, this comes down to "supply performance management" (not suppliER performance management!) Read on to learn the difference and why it matters...

Exploring A/P and Procurement Best Practices at P&G: Lesson 4

Lesson Four here is that project participants must understand improvement objectives and how to handle trade-offs. So let’s assume you’ve seized a nice prize, and per the WSJ article, let’s say the prize for P&G is $2B in cash. The prize could be taken as freed cash (or to a supplier, an increase in cash held captive!) But it could also be taken as a cost reduction in the form of an early discount. So, we have the classic cash vs. cost trade-off (we’ll ignore the service aspect of on-time payments that AP is measured on). So, which is more important? In this case, it’s cash.

Exploring A/P and Procurement Best Practices at P&G: Lesson 1

In this ten-part series of procurement lessons from P&G, the first thing to keep in mind is that there is "no rest for the best." I have yet to meet a single “award winning” procurement organization that does everything well and has run out of opportunities to pursue. I always roll my eyes when companies want to find the ultimate world-class procurement organization to learn from. That’s impossible – it’s a search for a purple squirrel.

From CPO to CRO (Chief Relationship Officer)?

It’s always a pleasure to connect with former Purchasing Editor Paul Teague, who is now the North America Editor for Procurement Leaders. I had the […]