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.
Aligning with internal stakeholders can be a challenge for procurement leaders but it has never as vital as it will prove to be in 2019. Uncover why and how to begin the conversation with your end users.
Finding suppliers that check all of the boxes on paper is imperative, but that's only the first step in establishing strategic supplier relationships. These are the types of partnerships that will align with your company's supplier improvement strategies. However, they only develop if you take the time to make sure they function for all parties involved.
This is why managing supplier relationships is a gradual process of nuanced relationship development and maintenance.
Expert category management requires a unique combination of procurement disciplines and skills. This is even truer today, as our ever-evolving global economy continues to create the types of spend management challenges that take teams of individuals with specific skill-sets to overcome.
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.
Most companies say that measuring supplier performance is critical or at least highly important to success. Enterprises simply aren't sustainable without competent, dependable suppliers.
Supplier performance stems from successful relationships. And those relationships develop through effective communication, in addition to well-defined supplier contract agreements.