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Willow Grove, PA (July 18, 2019) – Over the last several weeks, Source One Director Anthony Mignona has offered his thoughts on Procurement’s strategic mission in a pair of podcast interviews. Speaking with Buyers Meeting Point’s Kelly Barner, Mignona has recorded interviews for both Determine’s OutLoud Podcast series and the Source One Podcast.
In their first conversation, Barner and Mignona deflate some of the hype surrounding next-level Procurement technology. While the conversation around artificial intelligence, blockchain, and automation grows louder and louder, Mignona suggests it’s often nothing more than a distraction. No tool, he remarks, is a suitable substitute for a well-staffed, well-trained Procurement team.
Though Barner and Mignona both acknowledge the promise of emerging tools, they place a far greater emphasis on the value of Procurement’s fundamentals. With a solid foundation in place, Procurement can accelerate its evolution and better leverage the technology at its disposal.
On Source One’s own podcast, the two Procurement experts discussed methods for addressing tail spend.
“Definitions for tail spend vary from organization to organization,” says Mignona. “Some organizations employee the classic 80/20 rule, while others use ‘tail’ to describe every one of their indirect purchases. However they define the term, just about every organization has one thing in common – they’re not paying close enough attention. Even mature organizations tend to keep their tail spend at arm’s length. In many instances, these means missing out on opportunities to promote efficiency and generate hard dollar savings.”
For more insights from Barner and Mignona, listen to their conversations in full today. Don’t forget to check in with Source One’s thought leaders on the Strategic Sourceror for additional spend management tips and best practices every day.
