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Hone Your Human Work Skills

Posted: 06/18/2021 - 09:00
Hone Your Human Work Skills

Think about utility poles, Mohan Tatikonda is saying. He’s a professor of operations management at the Indiana University Kelley School of Business, and for over 30 years his research has focused on how firms can most effectively design, develop, introduce and improve products, services and organizational processes.

And though “think about utility poles” sounds like a strange request, he’s getting ready to talk about the future of work and how people and machines can benefit each other.

Training and Developing Procurement Professionals

Posted: 06/17/2021 - 09:00
Invest in a training program that suits the unique needs of procurement.

Training a company’s team members is a foundational step in running a company, but it is often forgotten when busy times hit. This is a big mistake. Putting the time and effort into designing a training program that suits the unique needs of procurement will drive more effective results in less time. Employees will be better equipped to manage the various situations and surprises that sourcing across numerous categories brings about.

5 Remote Employee Advantages for a More Effective Workforce

Posted: 06/15/2021 - 09:00
5 Remote Employee Advantages for a More Effective Workforce

Until recently, remote work has not been common in the procurement field. Nonetheless, the history of remote work started in 1560 when the predecessors to the first corporate offices were built. Nowadays, the COVID-19 pandemic has accelerated the adoption of remote work across disciplines, including sourcing and procurement.

10 Plays to Win the Sourcing Talent Game

Posted: 06/11/2021 - 09:00
10 Plays to Win the Sourcing Talent Game
Championship baseball teams like the Washington Nationals win by developing a talent pipeline of young players like left fielder Juan Soto and acquiring savvy veterans like three-time Cy Yong award pitcher Max Scherzer. Akin to the General Manager of any great baseball team, we as sourcing leaders spend a sizable portion of our time laboring to nurture and acquire talent to foster a competitive edge for our companies.   
 

What is Tail Spend?

Posted: 06/10/2021 - 09:00
What is Tail Spend?

Just like in spend data classification, the definition of tail spend is subjective. Some organisations classify tail spend at the bottom 20% of spend, while others might set a financial level such as £100,000 or £1 million.

According to CIPS, tail spend “can often be referred to as rogue spend or maverick spend, is usually small value purchases that are conducted by the organisations outside of a contract and often outside of the awareness of the procurement team.”

2021 State of Manufacturing Report Reveals Shifting Trends

Posted: 06/07/2021 - 09:00
The Manufacturing Industry was Surprised by the Success of WFH

Just as we saw in virtually every other industry, the global pandemic forced manufacturers to reevaluate where and how work gets done, accelerating the pace of digital transformation that was already well underway. It also busted one persistent myth: work from home (WFH) is simply not an option for many manufacturing job roles.

In fact, the latest numbers show the success of WFH – a surprise to many industry leaders – has laid the groundwork for an even more interesting discussion. If workers can be distributed successfully, why not manufacturing capacity?

Meta-skills: What Are They and How Are They Relevant to the Procurement Function of the Future?

Posted: 06/04/2021 - 09:00
Meta-skills are crucial within procurement.

What Is a Meta-skill?

It’s long been acknowledged that both hard and soft skills are needed in most jobs. They are no less crucial within procurement.

While hard skills include the teachable, quantifiable abilities you need to do the job and will be reflected in your qualifications, soft skills are, of course, slightly more difficult to measure. These can include teamwork, communication, conflict resolution and problem-solving abilities.

The Big Supply Chain Talent Shortage

Posted: 06/03/2021 - 09:00
The Big Supply Chain Talent Shortage

Manufacturing growth has skyrocketed over the last few decades, but the industry continues to lag in growing its most important asset: its people. A spike in retirements, paired with a drop in analytical leaders entering the field, is creating demand for procurement and supply chain talent that far outpaces supply.

The Future of Supplier Collaboration

Posted: 06/02/2021 - 03:11
The Future of Supplier Collaboration

Supply chain resiliency took on a new meaning in 2020. In the first few months of the pandemic, suppliers and procurement teams alike were left scrambling, desperately trying to maintain business continuity. The situation called for unprecedented levels of collaboration and visibility, which many organizations were not able to meet.

COVID-19 Liability Protections Are Not Immunity

Posted: 05/28/2021 - 09:00
COVID-19 Liability Protections Are Not Immunity

The light at the end of the tunnel is shining brighter for businesses that were forced to halt 2020 strategies and goals, customer acquisition and procurement. As the economy slowed to a halt, business leaders struggled to develop a risk management strategy that determined the how, why and when their COVID-19 safety protocols had been enacted. The waters were muddy because initial reopening strategies varied state by state and frequently changed based on infection rates in communities.

Owning Your Brand's Sustainability Claims

Posted: 05/27/2021 - 09:00
How to Prove Provenance and Sustainability Promises

Following Earth month, where brands tend to overcommunicate their promises in using eco-friendly materials and renew their commitments to sustainable and ethical practices, how they are substantiating their claims is  still unclear. While the stated sustainability goals may be high, so too are the reputational risks that brands must address if they do not deliver on their promises.

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