June 1, 2018

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

New Whitepaper Series:
Procurement Transformation: Industry Perspectives
In this five-part whitepaper series, Source One collects insights and reflections from some of Supply Management's most notable thought leaders. These experts provide their thoughts on the ever-popular topic and offer best practices to organizations at maturity level. Cutting through the noise and driving the conversation forward, they hope to paint a comprehensive picture of what Procurement Transformation really means for today's organizations.

Part 1 - Procurement Transformation: Then & Now
Sourcing Strategies Group's Jim Baehr provides a historical overview of Supply Management's strategic evolution. Over the last three and a half decades, our definition of Procurement Transformation has evolved alongside the function itself. Baehr charts these changes, examines the current state of Procurement Transformation, and offers his predictions for Supply Management's next era.

Part 2 - The Right Mindset
Why do so many Procurement Transformations come up short? In Part 2 of Procurement Transformation: Industry Perspectives, Joe Payne and Phil Ideson suggest problems with the department's mission and motivations are to blame. Procurement, they write, cannot transform its operations until it transforms the way it thinks about itself and its essential role within an organization.

Recent Blog:
Third-Party Risk Management: Bridging the Gap Between Procurement and Internal Audit 
Jennifer Ulrich, Supply & Demand Chain Executive, 5/28/2018
Procurement and Supply Management's ongoing strategic evolution has seen the function embrace a new role as a dedicated risk manager. The department can better fulfill this role if it collaborates closely with Internal Audit. Unfortunately, both Procurement and Internal Audit still contend with negative stereotypes within their organizations. To successfully collaborate, the two units will first need to repair their reputations and earn executive buy-in.  Both departments can start by actively pursuing professionals who can effectively speak the language of other internal departments. Procurement and Internal Audit's best risk managers and mitigators will distinguish themselves as polyglots with ever-evolving expertise. 

Recent Podcasts:
Best Practices for Workflows in Procurement 
Situated at the intersection of numerous business areas, Procurement is perfectly equipped to develop, assess, and refine the workflows within an organization. Senior Project Analyst Jennifer Engel joins the Source One Podcast to offer some best practices to Procurement professionals. With her advice, listeners should have no trouble establishing transparent, sustainable, and adaptable processes to support their operations.

Cross-Generational Collaboration in Procurement
Procurement's talent gap is an everyday concern for organizations of all sizes. Experts hope that an influx of tech-savvy and flexible millennials will help replace retiring veterans and drive the function forward. Within many companies, however, cross-generation friction holds Procurement back. Source One Associate Director Jennifer Ulrich and Sourcing Intern Claire Nguyen  join the Podcast to discuss collaboration between emerging talent and long-time supply chain professionals.

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