The Latest Procurement, Supply Management, and Strategic Sourcing Insights
 

Source One News & Insights – August 2018

Procurement News and Insights from the Leaders in Spend Management.

Procurement News and Insights from Source One

 


– SOURCE ONE NEWS –


Spend Management Experts Offer MRO Sourcing Tips in New Whitepaper

Few spend categories give Procurement as many headaches as MRO. Thanks to countless subcategories and diverse geographies, MRO is as complicated as it is essential. Companies recognize how important their MRO sourcing efforts are. Unfortunately, their typical methods for approaching the category are often exacerbate the category’s inherent complexity.  Source One’s new whitepaper series aims to help organizations rethink their approach to MRO spend and develop an effective category management framework for this all-important category. Download Part 1 of MRO Demystified today.


– SUPPLY CHAIN INSIGHTS –


ERP for Procurement and Supply Chain Management

ERP and the Supply Chain: Inspecting Tech Choices

Paired with effective Supply Chain Management processes, the right ERP technology has the power to serve as the backbone of an organization’s digital strategy. Organizations cannot afford to choose their ERP software lightly. The relationship between organizations and their software vendors are often highly strategic ones that can set the tone for a whole host of purchases and initiatives moving forward. These days, more and more companies are trusting their ERP provider to supply their entire suite of Procurement solutions. This philosophy might provide for strategic relationships, but it could also lead Procurement to take a ‘good enough is good enough’ approach.

Taking a Balanced Approach to Procurement Technology

Emerging Supply Chain Tech: Too Soon or Right on Time?

Procurement technologies are at an interesting stage in their development. Currently, they occupy a space between risk and value. Even those organizations looking to take a proactive approach to emerging tools need to tread carefully. The right tool at the right time could prove a strategic differentiator for Procurement. The wrong tool, however, could set an organization years back and leave them struggling through a protracted implementation process. Procurement teams must attend to emerging risk factors while they scan the horizon for new tools. Cybersecurity, in particular, will dominate these conversations within most organizations.

Tips for MRO Procurement and Strategic Sourcing

MRO Manufacturer Increases: Should I Go to RFP?

Cost increases are a fact of life for Procurement professionals working in any category, but they don’t have to be. Senior Project Analyst Jennifer Engel shares her suggestions for turning MRO price increases into cost savings.  If tail spend within the category is significant, for example, Engel suggests engaging alternate suppliers with an RFP. Conducted effectively, the RFP process can introduce competition and encourage the incumbent supplier to offer a more acceptable price. Alternatively, tri-lateral agreement involving both suppliers and distributors could prove effective. This approach will increase transparency thanks to a direct line of communication between all parties.

Optimizing Procurement and Sourcing's Training Budger

Maximizing Procurement’s Training Budget

Even in our digital age, people are Procurement’s most valuable resource. Despite this fact, many organizations still take a hands-off approach to training and developing their Procurement teams. Associate Director and Procurement Transformation Practice Lead Jennifer Ulrich advocates for a new approach to Procurement’s training programs. She advises organizations to abandon tedious, classroom-bound sessions in favor of more dynamic “micro-learning” exercises. These will not only provide the flexibility that Procurement’s emerging professionals desire, but also allow managers to engage more directly with their employees throughout the training process.

Successful Procurement Teams Balance Evolution and Fundamentals

4 Supply Chain Certifications to Take You to the Next Level

In a highly-competitive Supply Management space, young professionals need to do everything they can to stand apart from the pack. Pursuing a supply chain certification could be the perfect way to do just that. With so many options out there, however, Procurement professionals can easily grow overwhelmed. In this infographic, Source One breaks down some of the most notable certification programs out there  and offers tips for identifying the perfect fit.  The right certification can open the door to exciting new career opportunities in Procurement and Strategic Sourcing, but the decision should not be made lightly. Check out this guide to move forward with confidence.

 

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