ICYMIM: December 17, 2018

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.

Be Wary of Marketplace Solutions for Procurement 
Michael Lamoureux, Sourcing Innovation, 12/17/2018
Marketplaces are making a comeback, and the Sourcing Doctor is not pleased. Why not? "Because," he writes, "they were never designed as full-fledged solutions for Procurement professionals." They simply do not function as Procurement solutions. They provide sellers with limited control and few options to negotiate and amend their pricing. Your typical marketplace also comes up short where account and payment tracking is concerned. Few are advanced enough to support Procurement's bulk purchasing needs. He concludes by reminding readers to be wary. Today's marketplaces serve their B2C purposes well, but they're sorely lacking in the B2B sphere.

Phil Ideson, Future of Sourcing, 12/13/2018
Ideson concludes his series challenging Procurement's most common misconceptions. This time around, he sets his sights on the notion that stakeholders are naturally opposed to working with Procurement. Even if this lack of enthusiasm exists, Ideson suggests that Procurement should work hard to avoid internalizing it. By listening with an open mind, introducing suggestions rather than commands, and crafting more tailored messages, Procurement can begin to work through any existing conflicts and better engage its peers. 

Digital Transformation Drives Top Procurement Operations, and Can Help Late Adopters, Report Finds
Jonathan Messinger, Spend Matters, 12/13/2018
Hackett's latest report on digital transformation has found that top-performing organizations have already realized considerable benefits through automation and optimization. For example, 21% of respondents have lowered their labor costs and and 29% now maintain peak performance with fewer-than-average full-time employees. These top-performing businesses also see better rates of retention and fewer process inefficiencies. The findings suggest that organizations must now follow the lead of these world-class organizations. While digital transformation will take time, it's clear that maintaining the status quo is no longer an option. 
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