ICYMIM: July 24, 2017

Source One's series for keeping up with the most recent highlights in procurement, sourcing, and supply chain news week to week. To stay updated on the latest supply management articles, check in with us every Monday.

IT's Role in Procurement Digitization
Andrea Brody, BravoSolution

Procurement's relationship with IT is much more involved compared to their relationship with other functions in an organization. Both share the common initiative of improving business processes throughout the company through automation, and strive to reduce costs while increasing efficiency. When IT and Procurement can collaborate effectively and support one another, both teams can optimize their results and reach their greatest potential. Procurement can deliver more value while IT has better control over the security and performance of systems throughout the organization. 

Deconstructing Procurement
Kelly Barner, Sourcing Solved, 7/14/2017

In this conversation, Kelly Barner describes the challenges that come with deconstructing traditional approaches to procurement and why it's necessary for professionals in this industry to make this change now for their organization. This includes a focus on bringing together other functions in the business, such as IT and Finance, to understand the greater goal of driving value and not substituting current processes for less expensive options. Translating that procurement offers innovation, not just cost reduction, and can be utilized even without the need to reduce spend. 

The Advanced Supply Management Phoenix Takes Flight
Michael Lamoureux aka The Sourcing Doctor, Sourcing Innovation, 7/24/2017

Advanced spend analytics can discover savings throughout every category of spend by identifying value across the overall spend from consistent suppliers of products or services in multiple categories. The results of this evaluation will allow you as the buyer to create beneficial supplier relationships and begin SRM best practices if they aren't already in place. By utilizing this partnership as more than transactions between buyer and supplier, your organization has the opportunity to realize innovative solutions that can reduce costs for both you and your suppliers. 

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Catherine Nardone

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