ICYMIM: March 13, 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 and Kelly Barner, The Art of Procurement, 3/13/2017

The founder of The Art of Procurement, Philip Ideson, and Kelly Barner of Buyers Meeting Point have partnered to launch Palambridge. Designed to meet the strategic needs of procurement leaders aiming to get ahead, Palambridge is an on-demand, virtual platform that unites procurement experts, intelligence, and technology. Ideson provides a delivery model based on his experience working throughout the procurement and outsourcing value chain as a buyer, client and service provider. This model was created to deliver procurement solutions that offer the best in class opportunities through a subscription based, on-demand, commercial model. 

Jay Scheer, ThomasNet, 3/8/2017

In a recent study, THOMASNET.com found that 89% of buyers reported that a potential supplier's financial stability is a key factor when evaluating potential partners. For buyers, one of the best techniques for mitigating risk is ensuring their suppliers financial and operational stability are in a position that does not threaten their business. During the supplier evaluation process, procurement professionals especially are concerned with the credit profiles of suppliers participating in the process and prioritizing these areas when making decisions. 

Charles Dominick, SPSM, SPSM2, SPSM3, NLPA, 3/8/2017

Procurement is continuously evolving, as are the professionals in the industry. While a greater percentage of the experts in our field possess strategic sourcing and negotiation skills, the individuals who collaborate with suppliers and discover value from these relationships aren't the specialists for tactical purchasing. Leveraging the personality types of the professionals in your procurement group is the most effective way to ensure responsibilities are being distributed to those who possess the specific skill set necessary for said responsibilities. 

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Catherine Nardone

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