In the previous two videos in this short series on Supplier-Enabled Innovation (SEI), I placed SEI in the realm of Supplier Relationship Management (SRM), and suggested why innovation capture is an important part of Procurement’s value-improving agenda. I also posed a number of questions practitioners should ask themselves to baseline
Why do organisations seek to innovate, and in particular, why is the Procurement function so interested in tapping-in to supplier’s innovative capabilities? This is mainly because 70% of a typical company’s Cost of Sales is in products and services sourced from external suppliers and providers. That’s where tomorrow’s innovations are
In this video I discuss Supplier-Enabled Innovation (SEI), and Procurement, and how innovation is an important component of the Supplier Relationship Management (SRM) agenda. We all agree that innovation is a ‘good thing’ and that smart suppliers can supplement the smart people in our organisations in generating new ideas. It’s
10 Minute Read People occasionally ask me why, when there is generally so much attention given to sourcing and procurement tech, do I persist in focusing on supplier relationship management as a means of securing best value from supply relationships. There isn’t a single reason, but there are two major
One of the characteristics of 21st Century procurement is status anxiety. Barely a week goes by without another article or blog bemoaning stakeholders who don’t appreciate the strategic contribution professional buyers make to the organisation. Admittedly I’ve been around the profession for while – starting out as a buyer for
Someone raised an important question about what should a newcomer to the procurement profession be thinking about, if they wish to make a splash in joining the function. Here’s my top five tips: Be humble. Learn from everyone. From your colleagues in the function and from other stakeholders. You’re going
You lead a procurement function. You worked your butt off in 2017 to hit your savings target, and improved supplier performance through your SRM efforts. Those SRM efforts stretched to improving your key supplier’s business operations, and you secured the lion’s share of the benefits that accrued from that support.
This little Twitter exchange piqued my interest, and I thought I’d share a few thoughts on the subject. My interest is two fold: (1) Can cleaning service providers be effectively managed through SRM/SPM? and (2) a ‘systems-thinking’
I’ve been asked to present to the local girls’ school on the subject of a career in procurement. It’s essentially a talk offering career advice to sixth-formers who are thinking about university and career options. This is the presentation I’ve prepared. If you have teenagers (or even older children, or
In this excellent article from DILF “Procurement at a Crossroads – Disrupt or be Disrupted’, Soren Vammen, CEO of DILF and Lars Bjerregaard Mikkelsen, Professor at Aarhus University, make the case for procurement to become, not ‘strategic’, but actually and genuinely relevant to their organisations. They suggest CPOs focus on
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