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.
Kyra Senese, Spend Matters, 2/18/2019
Based on the findings of a study conducted by ProcureCon, Amazon Business, and a few other organizations, "Examining the Role of the CPO as a Catalyst for Digital Transformation in a Time of Disruption," Senese concludes some added pressures and opportunities for Chief Procurement Officers. Increasing responsibilities to induce the adoption of new technologies and digital transformation deepens the influene of the CPO. The technological disruption is more necessary for CPOs with larger (billion-dollar) annual-spend to manage and it is important they garner a sense of urgnecy from their executives to pursue technology changes so they're not left behind as the industry advances.
We’re Still Stuck in 2009 … Why?
Michael Lamoureux, Sourcing Innovation, 2/18/2019
Much like the reports five and even ten years ago, CPOs seem to still be focusing their attention on cost-reduction rather than talent or training budgets, and profitable technological advances. It is clear that new technologies are the future for procurement, and we are all aware of the everlasting talent-gap, yet some of our procurement leaders are still hesitating to make a change. Lamoureux warns us not to continue down this same road.
Contract Visibility & Analytics: The Next ‘Must Have’ Solution for Procurement?
Jason Busch, Spend Matters, 2/11/2019
Busch analyzes the importance of contract visibility in the vendor landscape and presents the idea as more than just an extension of spend visibility. The hard-dollar savings and avoidance of the "black-hole" are a couple defenses Busch poses as evidence that contract visibility is a new 'must have' for procurement. Take a look at the argument in more detail and let us know what you think.