Source One's recent Procurement Transformation whitepaper series is now available as a comprehensive eBook. Procurement Transformation: Industry Perspectives, the series, taps into the experience and thoughts of Supply Management's most celebrated leaders and thinkers. The five-part series includes the experts' views and ideas regarding the popular topic of Procurement Transformation. The leaders analyze the subject through numerous lenses, using their experience to provide insights, reflections and best practices. Download the eBook today for an informative, extensive look at the Procurement Transformation process.
The Maintenance, Repair, and Operations (MRO) spend category is frequently a challenging one to manage. Comprised of thousands of sub-categories, the category is generally addressed at a tactical, site-by-site level. This approach, compounded by disorganization and poor communication, leads many organizations to miss out on MRO cost reduction opportunities. Given all of the various components requiring attention, Source One takes a specialized approach to driving savings and compliance in every MRO spend area.
How to Maintain Your Seat at the Table (Even if you aren't there yet)
Jennifer Ulrich, Buyers Meeting Point, 7/25/18
Getting a 'seat at the table' sits at the top of most Procurement team's to-do lists. Long dismissed as tactical and low-value, Procurement is eager to see its peers acknowledge it as a strategic decision maker. Earning a seat at the table is quite an accomplishment, but doing so doesn't mean Procurement's work is done. They've still got to maintain that spot and earn their keep, so to speak. Source One's Procurement Transformation Lead suggests that maintaining a seat at the table comes down to leveraging metrics and data analytics to demonstrate Procurement's value.
Software Negotiations: How to Plan Ahead and Create Competition
Kevin Fraser, Outsource, 7/12/18
Fraser opens with a famous quote from Benjamin Franklin, "Failing to prepare is preparing to fail." That old piece of wisdom, he suggests, applies directly to software negotiations. To fully prepare for these all-important conversations, Fraser recommends getting things in order at least 90 in advance. For highly critical products, Fraser recommends a lead-time as long as six months. However long Procurement gives itself to prepare, it's essential they collaborate directly with all relevant stakeholders to guarantee alignment, mutual benefit, and efficiency.