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.
Why You Need a Master Data Strategy for Proper Supplier Management Michael Lamoureux, Sourcing Innovation, 6/7/2018 Lamoreux reminds us of the importance of attention to detail in all aspects of data organization with this blog past from 2013. In his throwback post "Why You Need a Master Data Strategy for Proper Supplier Management" he discusses many aspects of supply management that haven't changed in the last five years. He stresses the importance of integration for effective risk management. Accounts Payable systems, Contract Management systems, and supplier records, for example, should figure into a central SIM system. This will make it possible to resolve any data conflicts as they arise.
Predictive Procurement: What Artificial Intelligence Promises to Purchasing Sebastien Dumas, Synertrade, 6/5/2018 When it comes to tech, consumers are typically the first adopters. They'll embrace a tool long before companies implement them to improve business processes. For example, consider Skype. Initially designed for private use, it's now a standard platform for businesses to conduct interviews and virtual meetings. Exploring this concept further, Sebastian Dumas discusses how AI's potential to impact Procurement teams. He references instances such as automation of time-consuming and low-value tasks, allowing purchasing teams more time to focus on the most important, strategic success factors. Discussing Capitalism, Disruption, and the Art of Listening Kate Freer, Corcentric, 6/7/2018 Doug Clark, Founder, CEO, and Chairman of Corcentric shares his journey from life as a farm boy to eventually heading a successful technology company. Covered in a podcast interview conducted by business journalist, Ray Hoffman, Clark's story highlights the importance of listening to others in a successful career path. A belief in the power of listening helped inspire Clark to begin offering automation solutions for Finance. Eliminating paperwork, these tools allow businesses to operate more efficiently and communicate more directly both internally and externally. Listen in on the full story here.