The Latest Procurement and Supply Chain Management News
 

Source One News & Insights – November 2018

News and Insights from the Leaders in Spend Management

 



– SOURCE ONE NEWS –



Marketing Procurement Leaders Introduce Agency Management Solution

Source One’s Marketing Procurement experts have introduced a new solution for assessing agencies and optimizing Marketing budgets. The Marketing Infrastructure and Network Diagram solution updates the traditional spend analysis process with a Marketing-specific twist. MIND provides organizations with visibility into their agency relationships and align their long-term strategies – even when Marketing budget’s are inconsistent or unpredictable.

Source One at ISM2019

Strategic Sourcing Leaders Sponsor ISM2019

April 7th to 10th, Source One’s consultants will once again bring their expertise to the Institute for Supply Management’s Annual Conference. Serving as sponsors and featured presenters, Source One’s team looks forward to another ISM event packed with valuable insights and network opportunities. This year’s conference will take place in Houston and center on an interesting theme: ‘Spark.’ Surely, ISM2019 will spark countless interesting conversations.



– SUPPLY CHAIN INSIGHTS –


Strategies for Tackling Tail Spend

Managing Tail Spend: A Five-Step Strategic Approach

No one in Procurement likes to think about their tail spend. In many cases, however, taking a deeper dive can pay dividends for Procurement. In this blog, Spend Analysis Lead Brian Seipel offers readers a simple, five-step plan for addressing what is often a sizable chunk of corporate spend. The process begins, Seipel writes, with a thorough spend analysis. Oftentimes, years of taking a hands-off approach to spend management leaves organization contending with dirty data and rampant inefficiency. From there, Procurement has to align internally, identify opportunities to integrate tail spend with core spend, reduce costs where possible, and establish a system to monitor spend in the long-term. It’ll take effort, but Procurement has the power to get tail spend under control and realize greater strategic value.

You’ll Fail Selecting Technology with the Gartner Magic Quadrant

The Procurement technology landscape can overwhelm even veteran professionals. Characterized by endless hype and a steady flood of new solutions, it often compels organizations to seek outside help. Far too often, the search for outside help begins and ends with the Gartner Magic Quadrant. While this so-called ‘magic document’ has its uses, it’s far from the gold standard many organizations consider it. In this, the fourth installment of Benjamin Duffy’s series on the GMQ and its flaws, he likens the chart to the Academy Awards. The Magic Quadrant is like the Academy’s list of Best Picture nominees. Both recognize a certain level of excellence, but fail to account for individual needs and tastes. In most instances, finding a true cinematic favorite means looking past the nominees and finding a best-fit solution means considering more than the GMQ.

Procurement Transformation is Within Reach

The Business Case for a Procurement Transformation 

Procurement professionals can feel intimidated by the word ‘transformation.’ It’s not hard to see why. It’s an extreme word, one that connotes a total overhaul of the function’s operations. That’s why so many organizations believe that Procurement Transformation is beyond their means. Even relatively immature organizations, however, are capable of reflecting and committing to at least incremental changes. While small or struggling organizations might view Transformation as impossible, business leaders are almost as likely to consider it unnecessary. They are equally mistaken. No Procurement organization has exhausted its ability to evolve. Even industry titans can afford to take a closer look at their operations and identify areas for improvement. It’s not always easy, but it’s just about always worth the effort. Start thinking about what Transformation could mean for you.

The Benefits of Green Supply Chain Management

Holiday Shopping Trends: BOSS vs. BOPIS

Consumers have more options than ever for procuring and acquiring goods.  A shopper might make a purchase via in-store pickup, home delivery, third-party receiving, or a combination of all three. As consumer preferences continue to shift and drive new trends, retailer are getting creative. One popular creative solution since the late 2000s has been the Buy Online, Pick-up In Store (BOPIS) model.  Eliminating shipping and wait times for the consumer, the approach allows stores to more efficiently manage their inventory. Unfortunately, the model of makes in-store operations less efficient and increases labor costs. This holiday season, more retailers are experimenting with a new Buy Online, Ship-to-Store (BOSS) model. The model’s one key difference is that merchandise fulfillment is managed directly by a warehouse and shipped to the store level.

Procurement and Continuous Improvement

MRO Demystified

Few spend categories give Procurement more headaches than MRO. Composed of thousands of SKUs, the category also forces organizations to contend with broad supply bases. MRO Demystified, Source One’s new four-part whitepaper, provides organizations with a wealth of tips for tackling spend in the category. Addressing the short-coming of traditional approaches, the whitepaper offers tips for every step in the strategic sourcing process. Beginning with the importance of spend analysis, the series gradually moves into insights for long-term spend management. The final installment details supplier engagement best practices like Punch-Outs and Vendor Managed Inventory programs. Informed by Source One’s years of successful initiatives, the whitepaper provides organizations with the insights they need to make this complicated category into a value generator.

 

                                                    Subscribe to Source One’s Monthly Supply Chain Update

Share this