ICYMIM: May 8, 2017

ICYMIM: May 8, 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.

Executive Recruiter: 4 Must-Have Attributes For Aspiring CPO's
Procurious, 5/4/2017

In this recent interview, MRA Global Sourcing Managing Partner Naseem Malik offers his insights on what recruiters are looking for in aspiring CPO's. A broad perspective, change-management skills, and confidence in supply and market intelligence were included in the list of stand-out attributes that are most sought out for in candidates of CPO-level roles. Malik also advises on his strategies for effective networking, that can be utilized during the upcoming ISM2017 conference in Orlando, Florida. In anticipation of the event, he shares his top three tips for getting the most out of a procurement conference, including having a plan to ensure attendees don't miss out on popular sessions. As a co-chair of the Outside Track sessions during ISM's Learning Tracks, Malik discusses the variety of topics presented on during the different tracks, and most importantly how to find the most valuable take-aways from each.

Consultative Procurement: Asking Questions & Influencing Outcomes
Kelly Barner, IBISWorld, 4/25/2017

While many procurement teams aspire to be more consultative, the traditional consultant role isn't necessarily the approach procurement should take if they want to represent an objective point of view. While consultants are typically brought on externally to answer questions that assist with decision making, internal Procurement groups can be consultative by not only supporting discovering the answers to these questions but asking them in the first place. Procurement experts are more than capable of asking the right questions to steer an effort in the right direction during the earliest stages of any process, and this can be the consultative role that works best for professionals in the procurement function. Procurement is able to understand and take action, and by doing so in a consultative role they have the opportunity to become influencers that are trusted for their effective decision making.

Important Things to Consider in a Merger and Acquisition
Michael Lamoureux, AKA The Sourcing Doctor, Sourcing Innovation, 5/8/2017

The opportunity to achieve a new customer base or reduce overhead costs are often the main motivation for a merger or acquisition, without much consideration for other factors that could be less than desirable. In this post, The Sourcing Doctor explains how the culture, process, data and platform of both organizations needs to be thoroughly evaluated before committing to a merger or acquisition. And if the merger or acquisition is between two software companies, how their platforms compare and the specific knowledge required for each are factors that will help predict how smooth the integration will be, before any final decisions are made. If there is little to no alignment or overlap within the business operations, missions, and overall organizational goals, a merger or acquisition could be difficult for management and employees from both parties.