ICYMIM: August 14, 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.

Philip Ideson, Art of Procurement, 8/08/2017

Recently, procurement groups everywhere have emphasized value over cost, in both indirect and direct spend. While the cost of one product or service may be more than another, it might offer more value in the long run to invest in now. It's important to take value into consideration when identifying new talent opportunities, and how the variety of options can each offer different results for your organization. The workforce is ever-changing, and with more non-traditional workers than ever before, companies are required to be open minded when sourcing new talent.

Designing A New Breed Of Procurement Professional - Part 1 
Gary Como, Corporate United, 8/08/2017

Candidates who possess the skills and knowledge ideal for a traditional procurement role aren't meeting the needs of today's procurement organizations, and this skills gap is challenging many companies when trying to fill sourcing and purchasing positions. Even with years of experience, traditional candidates are skilled at writing contracts, developing scorecards and other documents, but aren't familiar with digital transformation or practices that focus on achieving value beyond cost. 

Procurement As An Insurance Policy?
Charles Dominick, SPSM, SPSM2, SPSM3, NLPA Blog, 8/09/2017

While procurement was once viewed as a solution to cutting costs when budgets were low, today's procurement organizations should be recognized as an investment for the future, much like insurance. The more you pay now, when there is no specific need to find savings, the more you be protected in the long run, to avoid a need to reduce spend. Reducing the chance of interruptions in the future by investing in procurement now is very similar to insurance, and should be treated as much of a priority. 
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Catherine Nardone

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