SIG’s Fall 2017 Global Executive Summit in Carlsbad, California is less than two weeks away! That means it’s time to kick things into high gear and prepare yourself and your team for the most innovative and thought-provoking sourcing event of the year.
With more than 350 delegates in attendance, numerous educational sessions and workshops, plus plenary sessions, speed networking, CPO and student programs, and a golf tournament, there is a lot to prepare for! Navigating such a vast event may seem overwhelming at first, but don’t fret. I’ve outlined four tips that will have you walking into the Summit like a seasoned vet.
1. Plan Your SIG Summit Agenda
One thing you’ll want to do before you depart for Carlsbad is to create your Summit agenda. This fall, with 100+ speakers, 50+ educational sessions, panel discussions, networking receptions, keynote presentations and fun entertainment, there is a lot to do in just four days! Even if you’re a longtime Summit attendee, planning your agenda goes a long way. To make this easy on delegates, we’ve created a schedule planner tool on our website, visit the Summit sessions page, and next to each session you’d like to attend, click the “add to my schedule” button in the orange title bar. Then, you can view your complete agenda by clicking the “View My Schedule” link at the top of the page. From there, you can print out or save a copy of your customized agenda.
I recently finished two-and-a-half days at Singularity University’s Global Summit (not to be confused with our own SIG Global Summit!). It was an incredible, mind-blowing, education-packed few days. Singularity packs their event with high-energy speakers who speak passionately on their area of expertise. I heard presentations on virtual reality, augmented reality, healthcare, leadership, socially responsible business, entrepreneurship, the future of work and so much more. The presentations covered a wide variety of topics, but they all had one thing in common…they all made you think about the possibilities…they all challenged the status quo…and they all embraced the concept that disruptive technologies are changing our world exponentially.
No session covered this better than keynote David Roberts whose core message was that slight variations in key assumptions could have a HUGE impact on our future. In his impassioned, funny and moving presentation Roberts connected the dots on some of the most exponential technologies our world has seen by asking everyone to consider some “what ifs” in life. His enthusiastic presentation and challenging questions inspired me to dig further.
What if…your phone was smarter than you? In 2013, Gartner predicted that by 2017 smart phones would, in fact be smarter than humans. Are they? Artificial intelligence (AI) has certainly progressed to such a point that you might argue that they are. In an article and related research, Gartner presented four phases of cognizant computing:
Today is my birthday. As commonly happens on birthdays, we tend to reminisce over the past year(s). And because so much of our life is spent working, this is where my reminiscing takes me because I get to work with my best friend for a company I love, not only because I get to work from home, but because it’s existence is what I dreamt of many years ago when I was younger and (more) clueless. Yes, I know… it sounds corny, but it’s true. After all, it was a little less than 15 years ago that I landed in the sourcing world working for a small supply chain management and procurement solutions provider, Enporion. I had no clue what acronyms like SCM, VMS, P2P, RFP, or SOW were, nor this strange idea of “Reverse Auctions.”
I have such fond memories working at Enporion, but anytime I tried explaining my job to family or friends I got that “deer in the headlights” stare and I felt like I was a part of some small secret society. Back then, Mary Zampino (fellow SIG-let) and I had virtually no resources available to us on how this whole “procurement” thing worked. We tried to come up with best practices, templates, and other tools to make our sourcing clients jobs easier and offer them the most process improvement and cost savings possible. We dreamed of creating a knowledge library of resources that we so desperately needed ourselves so that others wouldn’t have to work so tirelessly to do their jobs.
The Hackett Group, in conjunction with Symphony Ventures, recently published a whitepaper regarding Robotics Process Automation (RPA). (You may recall that Symphony Ventures conducted an excellent RPA proof of concept at the SIG 2017 Spring Summit with American Honda.) In this whitepaper, the authors provide a blueprint for selecting sourcing opportunities appropriate for RPA. Any sourcing professional worth their salt, should be considering RPA as a viable strategy after reading this statement, "Individual tasks of such processes may be fully automated with RPA, eliminating 100% of labor and up to 90% of cost. The total efficiency improvement achievable through holistic transformation using RPA across end-to-end transactional process can add up to 50% to 75% of baseline cost."
Mary Zampino, Senior Director of Global Sourcing Intelligence, SIG
As I sit here at my desk listening to the glorious whirl of robotic process automation taking place at my feet (my Roomba is vacuuming diligently), I think back to SIG's last Global Summit in Amelia Island and how RPA was at the forefront of our discussions.
Now, of course not everyone is as fond of certain types of automation. My dogs for instance, who are getting old, a little deaf, a little blind and a little senile, get spooked occasionally by this little disruptive digitalization in their lives. And my 4 year-old daughter thinks it's cool, (calls it her puppy) but if it gets too loud or in her way, its process quickly becomes terminated prematurely.
As I write this my Roomba signals with its happy little tune that it has completed cleaning the room and silence almost ensues, except for the faint hum of my newly installed ceiling fan (it’s a truly glorious sleek modern contraption) and it occurs to me that this too, a more common example of process automation, also brings me great joy, convenience and comfort. At one point both these items were the newest technology and people doubted their need and also questioned how many jobs would be lost at their hands. Not unfortunately, these days you do not find too many personal fanners (picture Cleopatra being fed grapes and giant palm fronds), but in its stead fan designers, engineers, installers, repair servicemen and salesmen. And whereas only a small minority of the population could afford a professional fanner back in those days, ceiling fans are common place and found in abundance due to technology and manufacturing improvements, making them less expensive and more easily accessible.
Much has been written recently about robotics. If you Google it, the most common word you will see in articles about robotics is “hype.” In fairness, it’s generally in the form of a question…it it hype? Is it more than just hype? Is the promise of artificial intelligence finally here? For the past two years Robotic Process Automation (RPA) and Artificial Intelligence (AI) have become more prominent conversations at SIG Summits…and the word on the street is that these are no longer just futuristic concepts. They are real. Much of what is out there centers on the idea that automation is just a passing IT fad. But I’m not buying it. I’ve looked behind the curtain and I’m drinking the Kool-Aid. (Nothing like mixing a few metaphors.)
Concerns abound that automation will take away jobs, and in an era where we are still feeling the effects of the 2008 recession the threat of job loss is daunting…haunting even. But is that is the most important aspect of robotics? Yes, it could take jobs away but robotics are most easily applied to positions that are repetitive and process-oriented, so the premise is that the people in those jobs can then be redeployed to more strategic roles. Gartner uses the term “automation arbitrage” to describe RPA and in effect, that is just what it is. But there are so many more possibilities with it.
And like that, another one is behind us. For months we plan every little detail to make our Summit a memorable event for our delegates. We coach speakers, edit session presentations, order matching linens, create signage and think through every thing that can go wrong to make sure that it doesn’t. And then it’s over. Just like that. The delegates have gone home, the sessions have been evaluated and everything has been shipped. But the memories of the event linger and one thing has become more and more clear with each passing event…the sourcing function is no longer back-office. It has not just gone from tactical to strategic, but is also leading companies in tackling some of the biggest issues facing our members today. Sourcing has gone mainstream. These observations from the most recent SIG Global Executive Summit highlight these points.
Data is the word of the day. And I don’t just mean “Big Data” although that is certainly a “big” part of it. Data is the key to better understanding customers. It is the way we can predict future supply needs. And yes—using “Big Data” we can teach computers to replace even complex procurement functions with little to no errors. But now Procurement groups are also hiring Data Scientists to turn that data into tangible outcomes. The baseline for smart systems is getting the data right, so pay attention…you will see the Data Scientist trend on the rise.
It’s been awhile since I’ve written a blog…I’ve been remiss. But in my defense, it has been a BUSY year. We officially opened SIG University with hundreds of students now matriculating through it…acquired Outsource, the leading digital content thought leader based in the UK…launched a division of SIG in EMEA…and absorbed the LatAm Alliance (formerly called Nearshore Executive Alliance) as a SIG Working Council…and that is all since January! Not to mention launching a new website, starting two Working Groups, hosting our first CPO Meet & Eat, conducting several events with our European team, planning our first-ever awards event, holding dozens of one-day forums all over North America and beyond and preparing for our second Global Summit of the year! My head is spinning…it’s been quite a year. But it’s the crazy ride we call the Summit that has me thinking it’s time to write another blog.
The Summit is a time that we at SIG always look forward to with (to be honest) mixed feelings. The event itself gives us a high like no other. It is the time when we get to see all of our members face-to-face. We hear the latest innovations and ideas from world class thought leaders. We meet new SIG members…and we reconnect with our work colleagues whom we know better by voice than face. But preparing for it is a LOT of work. I’m not sure I emphasized that enough. It is A LOT of work. There are literally thousands of little details that go into making this the world-class event you have all come to expect. From the speakers to the signage…from the cups to the cocktail napkins…from the app to the entertainment…the list is LONG. We put the effort into making it a flawless event so you can come prepared to just absorb, learn, network and enjoy. But if you want a few more tips for making the week the best it can possibly be, consider these three things:
SIG Summits are known for having amazing keynote speakers…and at our Summit in Denver last fall we had a speaker who took it to a whole new peak…so to speak. In fact, our keynote Alison Levine gave us a new appreciation for the word "Summit" as she shared her experiences in climbing Mt. Everest. At first glance, one wouldn't immediately think this tiny woman had the physical stamina or grit required for this incredible journey...which is exactly why making quick judgments isn't ever a great idea. Not only did she lead a team up that most arduous of climbs, but she did it twice. TWICE. Facing extremely dangerous and life-threatening conditions within 300 feet of the Summit, she made the painful decision to turn back her first time up...but both journeys provided lessons anyone can apply as a leader. She had so many great takeaways that I'm not sure I can adequately sum them up...but my attempt and interpretation are below:
On effective teams, everyone is a leader at some point. There may be only one person with a designated leader title, but allowing people to have a voice builds trust and loyalty. And if you do, your team is more likely to look out for the people on either side of them and make sure they are moving in the right direction as well. We once had a speaker whose mantra was that you don't have to have a title to be a leader...truer words were never spoken. Think about the word "leadership" as more of a mindset than a title and you empower everyone with the ability to own it. When you give people not just room...but permission to take something and run with it, you might be surprised by the result.
We spend months preparing for each Summit...and then a week getting ready for the arrival of our delegates...and then a few days with them...and then in a blink of an eye it is over and we start again. It goes by too quickly but the lessons learned are vast and permanent. Over the next few blogs, I'll share some insights I gleaned from our keynote speakers at the last SIG Global Executive Summit. The first was retired Colonel Anthony (Tony) Wood, best known for his heroic role in the evacuation of Saigon in April 1975. Colonel Wood addressed SIG in a general session and also spent time with our most senior delegates in an exclusive CPO Roundtable. These were my key takeaways from his two presentations.
Moral courage is knowing what to do, even when you know it may cost you. Colonel Wood shared a story of leading civilian volunteers through the most unimaginable circumstances. Risking their own lives, roughly 100 American civilians in their 50s and 60s, volunteered to help evacuate 5,300 people from Saigon, a city that was collapsing. In the face of an advancing enemy army, this incredible group of people put the lives of others before their own. In a business context, knowing what to do and actually acting on it, even though it may not be in your own personal interest to do so, is difficult...but having people with that attitude on your team is enormous. Moral courage is a critical piece of business leadership.