Articles by "Infographics"
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on Friday, August 28, 2020 0

Each week, we will go into details on how to address project and change management now to create a resilient and robust organization for tomorrow.

If you missed last week’s blog on Supply Chain Reconfiguration, you can check it out here.

This week, we will look at the 4th of 6 ways a company can use downtime to impact the greater good of the organization and position themselves to be a better, stronger company when the work picks back up.

Introduce Automation

What are some of the key ways automation can help modernize a company’s way of doing business?

  • Increase productivity and client satisfaction
  • Improve management accuracy and lower turnover times
  • Drastically lower risks
  • Facilitate marketing of high-performing business to larger clients
  • Decrease environmental footprint and eco-compliance
  • Reduce human error and increase efficiencies
  • Gain competitive edge
  • Generate agility to react better and faster to upcoming threats
  • Enhance company culture by bringing people together

Automation within an organization has become the primary strategy to ensure the realization of departmental productivity and financial goals while maximizing customer service levels.

Specific Example: Accounts Payable Automation

Automated AP processes mean you are extracting invoice data, classifying documents, matching invoices with purchase orders and receipts, assigning GL distribution codes, and posting and archiving invoices – all quickly, automatically, and with benefits like great labor cost savings.

When a company is able to convert their process to an automated AP system, they are not only able to save money on labor costs, they are also able to increase productivity, improve cycle times, have fewer payment errors and take advantage of more early pay discounts.

In addition to the benefits listed above, taking the time to commit to a fully automated AP process will also allow a company to keep the AP process in-house. There will be no need to outsource operations, thus supporting job retention. By utilizing AP automation, a company enables employees to be as efficient as possible and to strengthen their impact on the company.




Please check back next week for a look at part 5 of this series where we will discuss ‘Employee Training’.


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on Tuesday, February 11, 2020 0
With visibility across the supply chain, Procurement is perfectly equipped to implement and enforce sustainable practices. 

How can the function promote responsible, ethical, green practices in the new decade? Check out the infographic below to learn more. 


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on Tuesday, January 28, 2020 0
The right consultant can transform your business. Bringing fresh ideas and innovative solutions, they'll help you navigate around common obstacles and identify opportunities you might otherwise have missed. Whether your organization already has a well-appointed Procurement team or is just starting to build one out, a consultant is often the perfect resource.

But what about the wrong consultant? You've probably heard the horror stories. They'll collect their pay, go through the motions, and leave your organization worse off than when they started.

How can you identify a bad fit before bringing them on board? Check out these 6 tell-tale signs from our expert spend management consultants.


Want to learn more about the right kind of consultant? Reach out to our spend management experts today. 

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on Tuesday, January 14, 2020 0
Throughout the decade, a "talent gap" has plagued Procurement. Most organizations simply cannot get a hold of the talent they need to make Procurement a value generator and thrive in a new digital era. Even fewer businesses can convince leading talent to stick around. According the latest Deloitte CPO survey, just 46% of Procurement leaders have faith in their teams.

To make matters worse, the "gap" is really several gaps. Organizations aren't just lacking for one set of skills. In addition to Procurement's traditional skill set, they're looking for candidates with a wealth of technological know-how as well as so-called "soft skills." They've got their work cut out for them.

Where can organizations start? Check out the infographic below for some suggestions.












Procurement's lingering talent gap is just one of the subjects Corcentric discusses in Procurement in 2020. Download the whitepaper today for a comprehensive look at the trends and topics that will define the next decade of Supply Chain Management.
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on Tuesday, November 19, 2019 0
Where has the time gone? With a new decade nearly here, it's time to start drafting category management plans for the upcoming year.

Information Technology Category Management can be particularly challenging for a number of reasons. Most IT teams have a dual mandate to balance day-to-day business support while looking to optimize and automate operations, create efficiencies, and of course, reduce costs. IT Procurement can go a long way in leading that mandate to success, but it takes strong relationships, a wealth of insights, and the ability to overcome obstacles with challenging stakeholders and resource limitations.

I see IT Category Management falling into three primary areas: Stakeholder Engagement, Contract Management, and Long-Term Strategies.






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on Tuesday, November 12, 2019 0
Managing a warehouse is never easy, but it doesn't have to be quite so challenging. Check out our tips for establishing and sustaining a world-class warehouse. You'll enjoy the benefits of optimal workflows, manageable inventories, and transparent communication - and that's just the start.


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on Monday, November 04, 2019 0
With more and more customers taking advantage of eCommerce (and demanding quick shipment), more and more organizations are turning to third-party logistics providers. Experts estimate the 3PL industry will command more than $930 billion dollars by the end of the year. 

Looking to engage a 3PL to supplement your efforts? Take care to keep these factors in mind. 

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on Friday, October 25, 2019 0
Every organization is unique. They've each got unique cultures, unique organizational structures, unique goals, and unique definitions of what it means to change. More often than not, however, they share many of the same challenges and obstacles. The same old issues stand in the way of that change. Whether you're looking to carry out a Procurement Transformation, introduce a new solution, or just go to market for a key product or service - the same old concerns and complaints almost always come up. 

While there's no one-size-fits strategy for successfully driving change, these tips should help any organization looking to navigate around obstacles and keep initiatives on track. 


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on Thursday, October 10, 2019 0
Digital Procurement solutions have eliminated much of the function's tactical workload and provided a new level of clarity and connectivity throughout the sourcing cycle. Technology is not, however, a magic bullet. Professionals and organizations that are already prone to rushing through the sourcing process and neglecting their due diligence may find that a digital platform only exacerbates the issue. 

Does your organization leverage a digital platform during the sourcing process? Take care to avoid these four potentially costly mistakes. 



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on Tuesday, October 01, 2019 0
It's no secret that Procurement has considerable strategic value. That value only multiplies when the function is empowered to transform its approach and refine its operations. Still, many organizations hesitate to invest in transforming Procurement. They're afraid - afraid of making an investment, afraid of assessing their true capabilities, afraid of change. 

A lot of these fears are born from myths and misconceptions. For all the discussion around Procurement Transformation, lots of organizations still have no idea what it really is. They hear the term and imagine cutting heads, automating themselves into unemployment, and wasting loads of time and money. 

Throughout their decades of consulting, Source One's Procurement Transformation experts have heard every excuse in the book. They address five of these Procurement Transformation misconceptions in their latest whitepaper. More importantly, they try to steer readers in the right direction, to encourage them to think differently about both Procurement and Procurement Transformation.

To learn more, read Busting Procurement Transformation Myths today and check out the infographic below. 



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on Tuesday, September 24, 2019 0
In a candidate's market, employers around the globe are wondering how they can set themselves apart and better attract world-class hires. Many are doing so by offering huge salaries and creative benefits. Organizational psychologist Tomas Chamorro-Premuzic suggests they might be missing the mark. Writing for Harvard Business Review, he identifies three simple things we really want from our jobs. 

Does your employer provide all three? 

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on Friday, September 20, 2019 0
Maintenance, Repair, and Operations (MRO) is a unique (and uniquely challenging) spend category. Including thousands of subcategories, it's often a headache for even the most seasoned Procurement professionals. Approached strategically, however, the category is often a source of considerable value. Here are six benefits you could realize by carrying out a strategic sourcing project in the category. 


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on Friday, September 13, 2019 0
In a tech-enabled era, direct mail can look like something out of the past. Research suggests, however, that a tangible, physical piece of marketing collateral is more likely to generate a response than an email.

Want to ensure your next direct mail reaches and inspires the right audience? Check out the infographic below for some tips. 


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on Friday, September 06, 2019 0
A well-defined statement of work is essential to the success of any Procurement project. Providing specific, measurable, and detailed information, it serves as a roadmap for stakeholders and helps to ensure success. 

The more precise and detailed the better. Designed effectively, a statement of work helps avoid miscommunication, scope creep, and other side effects of ineffective planning. Check out our guide for developing a statement of work with everything you need to build better supplier partnerships.


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on Friday, August 30, 2019 0
Unfortunately, successful sourcing initiatives don't always lead to years of more effective spend management. It's all to easy for organizations to forget the "management" side of the equation. Many find themselves boosting visibility and driving savings only to slide back into bad habits. This "set it and forget it" approach is especially dangerous for MRO. Generating value within the category means taking a proactive approach and never settling for "good enough"

MRO is definitely a complicated category, but it's not unmanageable. Check out some of Source One's tips for ensuring you cut out maverick spending, maintain visibility, and drive value in the long term.


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on Friday, August 23, 2019 0
I'm sure you've seen the headlines. A decade removed from the last recession, we're past due for another economic downturn. Fear not. While recessions certainly present challenges and obstacles, they also present opportunities for effective organizations to set themselves apart and gain new competitive advantages. 

When the next recession hits, follow these tips from the risk mitigation experts at Source One. You'll not only survive the next recession, but thrive as a stronger, more strategic and resilient business. 



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on Friday, August 16, 2019 0
The RFx process will essentially determine whether your strategic sourcing initiative is strong and successful or a total flop. The way you approach an RFx will not only leave a lasting impression on your potential supply base, but it will determine how efficiently you will get the information you need to inform your purchasing decision.

You want your RFx documents to read direct and concise. You certainly don’t want your work to come off as worthless documents to add to a supplier’s shred pile. We gave you the lowdown of RFP spam, but here are some best practices of how to avoid the dog pile and establish a connection with a potential supplier.  In this Infographic we talk how to maximize the RFx stage; we broke it down into two stages: the Request For Information (RFI) and the Request For Proposal (RFP).



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on Friday, August 09, 2019 0
Procurement can't reduce costs, optimize its processes, or distinguish itself as a business partner without access to a wealth of accurate date. Unfortunately, not every organization keep great records. This means that collecting data often means engaging with suppliers to fill in gaps and gain additional context. Easier said than done. Not every supplier will offer up spend data willingly. Faced with avoidance (or worse, push-back) Procurement professionals will need to work a little harder to gather the necessary information. Struggling to collect the data you need? Check out the infographic below for some tactics Source One's team has employed over the years.


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on Friday, August 02, 2019 0
Research is an inescapable and all-important part of the sourcing process. Practitioners and consultants alike are constantly looking to build their expertise, identify new opportunities, and gain a sense of where their industry is headed. All that effort goes to waste, however, when research is conducted inefficiently or leads to inaccurate findings. 

Diving into market research to support a new initiative? Check out the infographic below for some best practices from Source One's expert team.








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on Friday, July 26, 2019 0
Some Procurement professionals love supplier interviews while others dread the very thought of them. Whichever camp you're in, there's no denying that interviewing suppliers in an inescapable (and essential) component of the strategic sourcing process. Throughout the interview stage, getting the answers you need comes down to asking the right set of questions. Check out the infographic below to learn more. 


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