March 30, 2018

Here's a look at where Source One's cost reduction experts have been featured this week!

Recent Blog:

4 Contract Management Best Practices for Improving Supply Chain Performance & Quality
Jennifer Engel, ThomasNet, 3/27/2018
Automation expedites and simplifies the Procurement contracting process, but it doesn't eliminate the need for human investment. Source One Senior Project Analyst Jennifer Engel shares tips for optimizing contract management to reduce the various costs associated with auditing agreements and managing supplier relationships. She suggests that effective contract management plans begin with the development of a digital template library. These will not only make for smooth workflows, but also help to reduce paper costs and improve security and transportation. Additionally, she suggests that remaining proactive and engaging in consistent audits reduce inefficiencies and produce cost savings.

Nailing Down Managed Services Requirements: Building the Right Outsourced Structure for Your Organization
Torey Guingrich, Outsource, 3/21/2018
Comparing the process to building and insuring a home, Torey Guingrich offers best practices for developing a relationship with a managed IT services provider. Building the foundation, she suggests, begins with a thorough understanding of the agreement's scope of work. Your team's understanding of the SOW needs to go beyond day-to-day considerations to include less common service offerings. Before entering into a relationship, it's also essential to determine how your team will define success. Determining the appropriate metrics to assess performance will make for ongoing value and efficiency. Lastly, she suggests a careful approach to pricing. Failing to consider every potential contributing factor could lead to an ineffective or unsustainable agreement.

Recent Podcasts

ISM2018 Session Insights (Episode 6) - The Price of a Bad Procurement Hire
Procurement departments lose a lot more than money when they recruit, hire, and on-board the wrong person. Reputation, morale, client relationships, and productivity all take a hit when a mismatched professional joins the team. Andy Jones, an expert Procurement recruiter, joins ISM2018 Session Insights to discuss the consequences of a poor hiring decision and speak to the considerable benefit of working with a third party. He suggests that an outside perspective could provide the bandwidth and category expertise necessary to effectively vet and assess promising candidates.

ISM2018 Session Insights (Episode 5) - Rotational Programs for Procurement Talent
Millennials looks poised to drive Procurement's into its next era. They're educated, collaborative, tech-savvy, and flexible, but most lack the hands-on experience necessary to accept leadership positions. Managers throughout the industry are asking themselves how they can best optimize these young hires and provide for their professional development. Jennifer Engel suggests that rotational programs could be the answer. They'll provide the diverse experiences necessary to establish the skillsets that make for success in supply management. She joins ISM2018 Session Insights to discuss methods for optimizing these programs and guaranteeing their long-term value.

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