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.
Nick Lazzara and Naseem Malik, Spend Matters, 5/31/2018
MRA Global Sourcing's Lazzara and Malik reflect on this year's ISM Conference. Both were particularly impressed by the wealth of sessions dedicated to cutting through buzzwords and making digitization a reality for Procurement. Lazzara briefly discusses the presentation he co-hosted with QBE's Scott Ottenheimer and Source One's Kaitlyn Krigbaum. Titled Orchestrating a Successful Procurement Transformation, the session discussed the importance of optimizing Procurement's brand to refine its approach to talent and ultimately become a leader within an organization. The two also discuss the conversations regarding talent that dominated the ExecIn sub-conference.
Familiarity can be a great asset in the hiring process. Prior knowledge of an applicant's work history, personality, and values makes it easier to confidently make a decision. Dominick notes, however, that hiring people you already know carries its own set of risk factors. Citing examples from his personal life, Dominick reflects on the extra headaches that come when acquaintance is a poor culture fit or otherwise disappoints as an employee. In addition to the usual costs of a mismatched hire, organizations who make the wrong decision based on familiarity will need to contend with the awkwardness of ending a long-term relationship. Executives Continue to View Supply Chain as a Support Function Rather Than a Competitive Differentiator
Sydney Lazarus, Spend Matters, 5/30/2018
Lazarus examines a recent report from Accenture. Surveying 900 supply chain professionals, the study finds that 68% of organizations still consider their Procurement department to be a support function. Less than half believe their Procurement team can provide a competitive advantage. Why the disconnect? Lazarus suggests that poor communication between Procurement and the C-suite might be keeping the department from reaching its strategic potential. Inadequate skills, too, hold the department back when digitalization and the introduction of new technologies.