ICYMIM: March 20, 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.

The Doctor (AKA Michael Lamoureux), Sourcing Innovation 3/14/2017

Many organizations only begin to include procurement during the New Product Design stage of the product lifecycle, without considering the benefits of utilizing procurement during Market Needs Analysis or the New Product Definition phase. The best time to involve procurement is at the product's inception, when they can offer solutions that maximize profit and in turn maximize value for the company overall. Lamoureux emphasizes that wherever and whenever procurement can provide support, they should be utilized to offer the most efficient options throughout the product lifecycle. Procurement has the potential to apply processes that go beyond cost-reducing initiatives in specific phases, as they can provide solutions for more efficient practices all around. Organizations that included procurement from the first stage of their product lifecycle have discovered the benefits beginning with the function's market intelligence during Introduction up until the Product's End of Life, where it offered solutions for maturity through decline.

Rooting out 'Fake News' in Supply Chain Risk Management
Kelly Barner, riskmethods, 3/16/2017

When it comes to determining if content is worthy of your time and attention, Barner provides her advice for deciding whether a news piece is quality or 'fake news.' Before reading the article word for word, first scan for data that could offer reliable sources to prove the author did their research, and these statistics or charts have real value for you. It's also important to consider before seeking the information you need, that first referring to a verified source could be a better place to start than simply performing a general search for the desired information and sorting through the results to find a trusted source. In supply chain risk management, it's crucial to make decisions based on facts, and professionals in this industry need to be capable of determining whether the data and reputation can justify making an important decision. 

Breaking News: Art of Procurement Founder Philip Ideson Partners with Kelly Barner of Buyers Meeting Point to Launch Palambridge

Philip Ideson, Art of Procurement, 3/13/2017

Palambridge, a new virtual platform that unites procurement experts, technology, and intelligence in an on-demand setting, launched at the end of last week. The founders of Palambridge include Philip Ideson of Art of Procurement and Kelly Barner of Buyers Meeting Point, who combined their individual years of experience to develop this model to deliver procurement solutions for subscribers of the service. The idea came about after the founders hosted The Procurement Revolution in 2016, and their network of experts and partners included valuable procurement intelligence, solutions, and professionals who could contribute to this change in the industry. Specifically, Ideson and Barner aim to connect subject matter experts with the businesses seeking services from experienced professionals like themselves. The category experts at Source One are featured on Palambridge as their background as procurement professionals for clients in various industries and ability to provide solutions for the Palambridge community.

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Catherine Nardone

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