The Leaders in Tail Spend Management will Moderate a Panel on the Subject at the Consero Procurement and Strategic Sourcing Forum
Willow Grove, PA (November 5, 2019) – From December 8th to 10th, CPOs and other Procurement executives will escape the winter weather by heading to Consero’s Procurement & Strategic Sourcing Forum in Coral Gables, Florida. Throughout the three-day event, they’ll network and share their insights on topics like the role of data analytics in Procurement, the promise of emerging technologies, and the benefits of strategic supplier relationship management. Cocentric’s Source-to-Pay team takes the stage on day two of the conference. Director of Technology Advisory, Anthony Mignogna will moderate a panel on an enduring topic: tail spend management.
The session, titled Effectively Managing Tail Spend: What More Can Be Done?, will feature panelists from organizations including Scholastic, Herman Miller, and Regeneron Pharmaceuticals. All six panelists will use the hour-long conversation to share their experiences addressing the challenges of tail spend and provide insights for turning it into a source of hard dollar value.
“Definitions for tail spend vary from organization to organization,” says Mignogna. “However they define ‘tail,’ nearly every organization has at least one thing in common – they’re not paying close enough attention to it.”
Though Procurement teams tend to dismiss tail spend as low-value, Mignogna contends that a more hands-on approach pays dividends. “Approached strategically,” he remarks, “tail spend is anything but low-value. Organizations that bring it under management succeed in driving savings, building better supplier relationships, and eliminating non-compliance across their Procurement functions.”
Mignona has already advocated for a new approach to managing tail spend on an episode of the Source One Podcast. He looks forward to driving the discussion forward as 2019 draws to a close. Procurement professionals are encouraged to read Source One’s blog, the Strategic Sourceror, for additional tail spend insights every day.