The history of interaction between the Chief Procurement Officer (CPO) and the Chief Financial Officer (CFO) has, until now, been fairly predictable. The relationship can be Read More
Advancements in software and artificial intelligence have expanded both the number of activities that can be automated and the degree to which automation of tasks is possible. According to a 2017 McKinsey study, Read More
Everyday workplace conversations (either around the water cooler or online) often allude new business trends or new terms that are used to describe those trends. Listed below are some of the more common terms Read More
Trends like the Industrial Internet of Things (IIoT) and rapidly expanding software defined service processes are driving changes Read More
What's happening on the show floor at the ISM conference? My Purchasing Center interviews Adam Stewart of exhibitor SciQuest on the company's source-to-settle solution and its new user interface. He calls it "simple and sleek".
Not able to attend the ISM conference this year? My Purchasing Center met with exhibitors like Jim Brozny of Fieldglass at the show where he demonstrated an application that helps automate the procurement process for non-employee workers.
David S. Yin
Procurement, like any other corporate function, is valued by its contribution to the company’s bottom line. In recent years, procurement has gained greater prominence as companies emphasize cost-cutting as a principal way of improving margins. However, the value that procurement brings is much more than just a function of balance sheet cost savings, which is often overlooked by CFOs and others Read More
According to new benchmarking research by The Hackett Group, world-class procurement organizations have lower operating costs and operate with smaller teams while generating more than twice the return on investment than typical companies. Still, they must find new ways to continue to add value. Read More
Harnessing the power of big data is leading to greater opportunities for companies to predict market trends, spending, consumer behavior and supply chain needs. This type of data mining is known as predictive analytics, and it can change the way you make business decisions. Read More
Nikita Saharia Chaturvedi
“Procurement is not only being asked to find new and creative ways to drive improvements to the corporate bottom line, but also to help manage the growing risk that can negatively impact the company,” says Lloyd Alexander, Vice President of Contract Strategy at Seal Software in a podcast interview at My Purchasing Center. Read More
As practitioners and analysts in the procurement market, it's amazing to think about how much tools and platforms within the sector have evolved in little over a decade. Speaking in historical evolutionary tools terms, it's as if we combined the Stone, Bronze, and Iron Ages into a single human lifes…
A successful sourcing strategy means that companies like yours should consolidate spend for better visibility and track savings to the bottom line. Read this article to learn about the six key steps to achieving sourcing excellence.
Safety must be a top priority in any workplace. As an employer, it is your responsibility to manage and maintain a safe and healthy workplace for your employees and visitors. However, managing compliance, keeping OSHA logs and documenting audits for the work environment can be cumbersome tasks. With…
Consolidating suppliers within specific supply markets is a proven strategy to concentrate buying power and reduce purchase prices. The activity can be taken further, though, especially within non-production (indirect) spending areas. By simplifying and automating interactions with preferred supplie…