Source One's series for keeping up with the most recent highlights in procurement, strategic sourcing, and supply chain news week-to-week. Check in with us every Monday to stay up to date with the latest supply management news.
Lazarus summarizes the results of a recent Riskmethods survey. Drawing responses from over 250 senior Procurement executives, the survey found that risk mitigation is a priority for most Procurement departments and that major supply chain disruptions are increasingly common. Nearly half of respondents reported weathering at least one major interruption to their operations. More than 10% of executives reported suffering more than 20. While Procurement teams hope to prepare for natural disasters and similar events, few currently have effective contingency plans in place. Only 1 in 5 surveyed executives believe their company currently have sufficient plans for managing and responding to risk factors.
Michael Lamoureux, Sourcing Innovation, 3/13/2018
In anticipation of conference season, the doctor takes a closer look at some of Procurement's most popular and, to his mind, meaningless buzzwords. He dismisses digitization, for example, as a word that's long outlived its usefulness. He reminds readers that utilizing data is nothing at all new for Procurement. Postmodern, he suggests, is similarly outdated in spite of its continued popularity. Coming to popularity in the mid-20th century the word has no relevance to speak of in the world of Procurement. He concludes by suggesting that Procurement professionals not only abandon these terms, but start to focus their resources on identifying genuinely time-saving and value-adding functions.
Nick Heinzmann, 3/13/2018, Spend Matters
Lazarus examines the increasing emergence of labor clouds. These curated networks of talent are already proving helpful for companies of all sizes and stripes, but Heinzmann takes time to describe particularly conducive environments. He suggests that companies with large, disorganized freelance teams and those in need of highly specialized talent could find labor clouds especially useful. After detailing a few recent examples of successful implementations, Heinzmann lists his tips and best practices. It's essential, he writes, to involve key stakeholders early and often and to provide ample opportunity foe improvisation and experimentation.