“Procurement leaders should learn where their sourcing employees spend the most time and whether it is worth the investment,” states the latest study by The Hackett Group.
Each season provides unique hazards and safety risks to workers and facilities alike. Previously we discussed the extreme risks tied to heat stress and its affect on worker productivity, but as the colder weather blows in so do new and unexpected risks, hazards, and necessary precautions.
Millennials, the group of individuals born between the year 1980 and 1995, are estimated to make up 50 percent of the total workforce by the year 2020. However, much has been said and written about them, most of it indicating how they are lazy, entitled, pampered, self-involved and unwilling to stay on a job for more than a few years. Such facts are a terrifying prospect for hiring managers who fear that the future workforce is likely to be troublesome for them.
When thinking about your car rental program and provider, does fleet management come to mind as a major consideration? If it doesn’t, then you are not alone. It’s a topic I bring up a lot when talking about car rental with new CU members, so I wanted to take a few minutes to tell you why fleet management should be important to you too.
According to The Hackett Group, "a decision not to use group purchasing organizations (GPOs) for specific indirect spend categories is the same as leaving money on the table." But, research by ProcureCon Indirect West found that 58% of organizations haven’t yet investigated or aren’t using a GPO.
There’s no doubt new technology is catalyzing the evolution of procurement’s role in the enterprise. A recent article from Spend Matters notes that what sets world-class procurement organizations apart is the use of digital technology. Surprised? You shouldn’t be. Just like most other areas of your organization, leveraging technology enables procurement teams to stamp out inefficiency and save time.
Filling today’s advanced procurement roles is a much greater challenge than many expect. Whether a procurement department is trying to fill a vacancy on the staff or simply failing to deliver the expected level of impact in an evolving organization, the underlying issue is often the same: they need to find the right talent. It takes a new breed of procurement talent to fill the roles in modern procurement organizations.
Scratching your head about how to improve your interdepartmental relationships? We went straight to the source.
As the role of purchasing continues to expand and as time becomes more scarce, it’s good to know that help is on the way. Though artificial intelligence isn’t “help” in the traditional sense, its capabilities for strengthening procurement aren’t either. The benefits of AI are much more significant. And if your firm delays in embracing AI, it will be giving the competition who makes it a priority a leg-up. Any company looking to perform true strategic sourcing will need AI’s assistance in tackling the challenging and nuanced task.