October 5, 2018

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

White Paper:
MRO Demystified Part II: The Value of a Spend Analysis 
A friendly reminder that last week the second installment of MRO Demystified series was published by Source One. In it, Source One provides MRO-specific tips and best practices for executing a thorough, effective spend analysis. Part II goes on to offer advice on what to do with the data gathered through spend analysis and how to utilize it more expediently. Look forward to Part III exploring the role of Strategic Sourcing soon.

New Blog:
It's a touchy and political subject for some, but the legal marijuana industry is certainly an interesting cash cow booming with new opportunities for revenue. Right? The distribution of products for the industry has proved incredibly difficult due to vague laws, licensing hold-ups, and supply far exceeded by any reasonable expectation for demand. Brian Seipel pens for sourcinginnovation.com on the difficulties surrounding legal marijuana distribution. The industry can only grow as much as the law allows. What happens next is still up in the air. 

New Podcast:
Brian Seipel and Bennett Glace discuss Spend Taxonomies and one of the most common mistakes companies make. It is exceedingly simple and easy to say, “Why don’t we just utilize UNSPSC?” UNSPSC allows for better spend analysis for individuals, but when it comes to Procurement and managing suppliers, it falls just a bit short. Companies should first establish what their goals are in spend analysis and find the spend taxonomy that reaches each of those goals in the most effective manner. Though useful, UNSPSC is not the end all be all that some might make it out to be. 

Upcoming Events:
The Connect CFO Leadership Summit will feature and host hundreds of innovative financial leaders from across the nation. Corcentric will be both an attendant and sponsor, with some members of our Source One and Corentric family being featured as presenters as well. SVP of Sales, Dan Andrew, will be speaking on the Power of Payment and Accounts Payable Integration. The conference aims to manufacture an environment stimulating the exchange of tips and knowledge of prevailing industry trends, especially as they pertain to technology, innovation, and Strategic Financial Management.

Source One is a proud sponsor of ProcureCon MRO in Fort Worth, Texas. Spanning across an event filled two day conference, ProcureCon MRO will take aim at defining innovations in MRO Procurement, and sourcing as whole. Artificial intelligence in Procurement is highlighted by a number of key presenters. Our Source One team is excited to be in attendance and looking forward to the multitude of networking opportunities the conference will provide.

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