It has been said that using e-procurement to manage the marketing spend is transformative: It turns marketers into accountants! A vice president of shopper marketing at a large consumer products company once told me that she was even considering purchasing green visors for her marketers given how much time they spent trying to fit the spend into the company’s e-procurement system Read More
An economic downturn brings out the worst in some companies. They beat up suppliers to slash prices or delay payments damaging valuable relationships. A downturn can bring out the best. These companies take a good, hard look at current purchasing practices and put in place the people and processes that help reduce cost and improve efficiency over the long term. Read More
Back in August, Walmart hosted a Manufacturing Summit, after a company-wide meeting with its store managers. At the Denver event, Walmart’s leadership -- everyone from company president Doug McMillon to Michelle Gloeckler, executive vice president of consumables and head of U.S. manufacturing -- reinforced the company’s commitment to bringing the manufacturing of the products it sells back to U.S. soil. Read More
How does professional certification help a graduate of a global supply chain management program in his or her career? “Professional certification demonstrates to potential employers that you know how to apply the knowledge you acquired. It will give you a leg up over someone who doesn’t have it," says Jan Miller, Vice President, Membership, at the Institute for Supply Management, in Tempe, Ariz. Read More
In this 60-minute training video session given by Rod Sherkin, President of ProPurchaser, you will learn how to work more constructively with suppliers to drive down costs together, while strengthening your supply chain.
In part 4 of the Source One video series, Kathleen Jordan completes the discussion on marketing and sourcing with a case study that demonstrates how sourcing can benefit from partnering with a consulting firm to address marketing’s needs.
In part 3, Kathleen Jordan at Source One describes how sourcing can support marketing during its agency review process. She provides best practices for the two to use when conducting an agency search.
“By encouraging people to behave in more cost-effective ways, it’s possible to reduce average cost without having to negotiate price, especially when consumption is at the discretion of the user,” Rod Sherkin, President, ProPurchaser, tells My Purchasing Center’s Nikita Saharia Chaturvedi. He’s thinking hotel rooms, rental cars and the like. Suppliers can help, he says, by providing procurement with reports on consumption.
Using PPV as a metric sends a message to procurement to beat up suppliers, Jimmy Anklesaria of the Anklesaria Group tells My Purchasing Center. “I’m ashamed of CFOs who demand 5-6% price reductions year on year,” he says. “Great leaders in procurement push aside outdated measures and focus on what’s right for the business.” He shares a couple of these right metrics in the podcast.
Nikita Saharia Chaturvedi
“Using a peer pressure approach in procurement does not prevent you from spending when you need to, but encourages saving when you have the option to do so,” says Rod Sherkin, President, ProPurchaser, in an interview with My Purchasing Center. Read More
I’ve been having a lot of conversations recently on the issue of building better business relationships through collaboration. While it’s fair to say that relationships are a key part of anyone’s success, these days it seems especially relevant to procurem… Read More
Nikita Saharia Chaturvedi
“Our professional services folks were down in the trenches, sleeves rolled up with corporate procurement teams helping them to analyse indirect and MRO spending patterns, identify and prioritize cost savings opportunities, execute on sourcing activities an… Read More
Nikita Saharia Chaturvedi
“When the 2015 contract season wraps up, most of those price increases will be realized, as most of the companies under contract have not absorbed the increase yet,” Prime Advantage's Mike McDonald tells My Purchasing Center. “For example, aluminum prices … Read More
Lunney Advisory Group was founded in 2007. Our firm is not your typical consulting company. Some members of our firm are highly qualified and experienced industry executives/practitioners while others are full time or adjunct university professors.… Read More
It started in 1972 with an idea, a new concept in distribution. Today, Digi-Key Corporation is one of the fastest-growing electronic component distributors in the World. The stimulus for this growth is Digi-Key's customer-centered business philosophy… Read More
Spend management encompasses the entire purchasing lifecycle—from sourcing goods and selecting suppliers to setting up contracts and paying suppliers—and helps buyers take a holistic view of procurement from a competitive vantage point. That’s the definition of spend management we use to develop…
Large corporations perform supplier governance for strategic services in silos – segregated by department, contract, geography or type of service. Where governance processes exist, they are largely manual, often performed by poorly trained and insufficient staff through various incompatible systems,…
Let’s call 2020 the Year of the Category Manager. By then, more companies will turn to these leaders in Procurement for their expertise at developing corporate strategy—and those with skilled Category Managers on their teams will have an edge on the competition.That’s the thinking of the CPOs, P…
We live in a volatile world where uncertainty has become the norm and supply chains are going global, which means that the potential for supply disruption has grown exponentially. As the Chief Procurement Officer, it’s not only your job to drive as much cost out of the business as possible, it’s als…