Transformation

Delivering Sustainable Business Value Through The Procurement Analytics Maturity Model

Posted: 03/21/2023 - 02:22
It’s been 3 years since the start of Covid-19 pandemic, and it is hard to believe what all the world has gone through in these 36 months. Fortunately, barring a few countries, Covid-19 has all but fallen out of newspaper headlines and businesses all over the globe are trying to get to the pre pandemic velocity. However, business leaders continue to exhibit pessimism towards the economic environment citing inflation, supply chain risks, trade policy shifts, global energy crisis and fear of an upcoming global recession. 
 

2023 Future of Sourcing Awards Call for Entries Now Open

Posted: 03/16/2023 - 02:33
2023 Future of Sourcing Awards Call for Entries Now Open
JACKSONVILLE, Fla.-- SIG|ORG (Sourcing Industry Group), the membership organization that provides thought leadership, networking and training opportunities to executives in sourcing, procurement, outsourcing and third-party risk, invites organizations across the world to submit entries for the 2023 Future of Sourcing Awards.
 

SIG|ORG Announces Keynote Lineup & Agenda for 2023 Procurement Technology Summit

Posted: 03/16/2023 - 00:43
SIG|ORG Announces Keynote Lineup & Agenda for 2023 Procurement Technology Summit
JACKSONVILLE, Fla.--SIG|ORG (Sourcing Industry Group), the premier membership organization for sourcing, procurement, outsourcing and third-party risk professionals, today announced the keynote programs and agenda for its upcoming Procurement Technology Summit in Amelia Island, Florida from April 16-19, 2023.

SIG|ORG Adds New Executives to Advisory Board

Posted: 03/15/2023 - 22:55
Jacksonville, FL, March 15, 2023 -- SIG|ORG (Sourcing Industry Group), the premier membership organization for sourcing, procurement, outsourcing and risk executives, today announces the appointment of seven senior executives to the SIG Advisory Board for a three-year term, including: 
  • Gilles Neron — Vice President, Strategic Procurement & Corporate Real Estate at Air Canada
  • Edmund Zagorin — Founder & Chief Strategy Officer at Arkestro
  • Shashank Saxena — Co-Founder & Chief Executive Officer at VNDLY Inc. 

Business Networks 2023: The Year of the Supplier

Posted: 03/08/2023 - 00:17
Business Networks 2023: The Year of the Supplier
When business networks came on the scene more than two decades ago, sellers were skeptical for many reasons. Would they be squeezed by buyers for lower margins? Would overhead increase from new processes or technology? Concerned they would lose business, many joined these networks and played the game in a purely defensive way, blocking and tackling with online RFPs, catalogs, orders, and invoices.
 

The Art of Negotiation: Time-Tested Strategies For a Successful Supplier Negotiation

Posted: 02/10/2023 - 23:41
The Art of Negotiation: Time-Tested Strategies For a Successful Supplier Negotiation
Put simply, supplier negotiation is the process of coming to mutually acceptable terms between the procurer (buyer) and the vendor (seller).
 
As we can see from the chart below, the negotiation stands at the center of the procurement process, beginning by first planning business requirements, then clarifying this with the supplier, and finally, assessing performance and results. 
 

At What Point Does Procurement Own Supply Chain Risk?

Posted: 02/07/2023 - 21:40
At What Point Does Procurement Own Supply Chain Risk?
In her October 24th 2022, The Drive article, Emma Helfrich reported the following: “An engine designed by the Austrian company Rotax was discovered installed in one of Russia’s Iranian-made Mohajer-6 drones that went down over the Black Sea earlier this month.”  Helfrich then said, "Rotax says it has launched an investigation into its engines powering Irania

VUCA Planning: Why Procurement Success During Volatile Times Requires Proactive Versus Reactive Agility

Posted: 01/28/2023 - 03:33
VUCA Planning: Why Procurement Success During Volatile Times Requires Proactive Versus Reactive Agility
What does it mean to have an agile supply chain?
 
The above question has been raised countless times since the pandemic's beginning, as most supply chains were “stretched” beyond the breaking point.
 
But during times of Volatility, Uncertainty, Complexity and Ambiguity (VUCA), we should ask this: is the agility to which I refer "proactive or reactive?"
 
 
Planning Agility?

Companies Tap into Procurement to Jumpstart Growth this New Year

Posted: 01/25/2023 - 00:39
Businesses weren’t prepared for the massive disruptions to global supply chains that the pandemic sparked. And they’re feeling the pain. According to research from SAP, 58% of companies have seen their revenue decline in the last three years. For many, growth remains stalled, and they are relying on procurement to restart that engine. Why procurement?

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