Women are not only gaining ground in 'nontraditional' roles but are more educated and poised to extend their footprint across the entire US Labor force. Understand the implications of the narrowing gender gap with these key statistics from the United State Department of Labor.
Developing alignment with your internal stakeholders can be difficult and take a lot of coordination. Stakeholders tend to think procurement is not focused on finding the right solution with a partner they can trust, but rather focused on expense management. These 6 questions will help procurement take the leader in starting the conversation.
Out with the old, in with the new year and challenges. How can procurement leaders solve for better spending in 2019? Read on!
Procurement is being tasked with achieving a greater ROI despite a smaller headcount. This challenge is further compounded by the fact that many companies are not entirely clear on how to attack their spend cube to achieve greater spend under management or compliance goals, particularly in decentralized environments.
Dustin Cochran is the Director of Member Development for OMNIA Partners and was recently named a 2017 Pro to Know by Supply & Demand Chain Executive for his extensive procurement expertise and work in helping organizations achieve best-in-class spend management programs.
“Procurement leaders should learn where their sourcing employees spend the most time and whether it is worth the investment.”
The quote is from a 2017 study by The Hackett Group, which goes on to explain that, as procurement's role becomes increasingly strategic, sourcing teams already stretched thin face new demands and procurement challenges. According to that same report, “Are Strategic Sourcing Resources Providing the Best Return?”, the overall strategy of procurement needs to change, particularly around work selection and prioritization.
Myths pervade our existence. Some people think you need to drink eight glasses of water every day. But in reality, you should just drink when you’re thirsty. Others think that if you shave your hair, it will grow back thicker and darker. Nope, that’s not actually something that happens.
The point is, when you fall victim to a myth, you might find yourself making some questionable decisions.
Group purchasing organizations (GPOs) primarily exist for one simple, yet compelling reason: to help businesses interested in buying similar products gain leverage through combined purchasing power.
A study by The Hackett Group defines a GPO as “an entity that is created to leverage the purchasing power of a group of businesses in order to obtain discounts from suppliers based on the collective buying power of its members.”
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 are many times in our professional careers when we need to convince others to go along with our course of action. It could be convincing our superiors to follow our strategy, compelling your employees to take on a new project or persuading a vendor to make changes. During my own professional career, I have been on both sides of this equation: I have been convincing and I have been convinced. During these experiences, one thing was constant—the need to carefully construct a meaningful business case. So, how do you get started? In this post, I will discuss the five components for making a strong case and a set of questions to help you get there.