ISM Philadelphia to Highlight Hot Topics in Sourcing in the New Year

Collaboration and attention towards the mindset of employees are major themes in the growth of procurement as a practice. When the connection between organizational goals and procurement effectiveness is realized, companies can save internal resource strain by creating efficient procurement processes that optimize ROI, boost morale, and engage cross-departmental goals. As Source One prepares to speak during the Institute of Supply Management (ISM) January meeting on the 8th, they are eager to relate this concept to the IT and SRM spaces, and allow supply chain professionals to realize the power of mindset in advancing procurement.

David Pastore, a Source One Director, will be discussing the topic of IT and Procurement collaboration and the value this brings to organizations. IT and Procurement have not always share the same goals and objectives. IT is looking to implement the newest technologies in order to streamline processes, while Procurement is looking at how to impact the organization's bottom line. However, by working together, these two departments can help to achieve significant value for an organization through revealing overlooked operational efficiencies. Pastore's presentation will lay the groundwork for how to improve collaboration between these two separate departments. By working together, IT is able to better communicate to Procurement their wants/needs in new technology. Procurement can work within these parameters to find the most cost effective solution, improving the organization as a whole.

Brad Carlson, Director of Supplier Relationship Management (SRM), is slated to discuss the topic of risk management through SRM and how supplier collaboration can lead to optimal value from these connections. In today's world, risk management is a crucial component to any business' strategy. Government bodies are developing more laws and regulations that organizations must comply with in order to continue operating. Data security is becoming a greater concern than ever before for organizations and consumers alike. For these reasons and more, organizations need to be able to stay on top of each of these concerns; otherwise they may face financial penalties or other damaging repercussions. Carlson's "Risk Mitigation through Supplier Relationship Management" presents a risk-based approach to SRM to better manage third-party risk in organizations. By segmenting suppliers based on the areas of greatest risk, sourcing can focus their attention on high-impact suppliers and assure that regulatory and security requirements are being met.

For more information about the January Dinner Meeting, visit ISM-Philadelphia's webpage. For those interested in discussing these two topics in more detail with either Brad or David, please contact hgrossmuller@sourceoneinc.com.

Image courtesy of http://www.ism-phila.org/