innovation

How Best-In-Class Procurement Organizations Are Driving Their Category Management Implementation

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Given the intensity with which companies today are focusing on innovation and profitable growth, it is imperative that procurement teams drive strategies that support enterprise-level business goals. Beyond traditional sourcing approaches, strategic category management delivers a collaborative way of developing solutions that support both business and category objectives. Category management maximizes category value to the organization, delivering on critical parameters such as total cost of ownership, risk and performance, to name a few.

While procurement organizations around the world realize the significance of building an advanced category management program, getting there isn’t simple. In a number of organizations today, category management is still at a nascent stage, perhaps indicating that though there is an organizational structure for category management, it is not quite aligned with the business strategy. For many though, exhausted sourcing strategies turn out to be their biggest hindrance.

To address this issue, GEP and SIG have teamed up for a webinar with Biju Mohan, vice president of GEP Consulting, to discuss the latest trends influencing strategic category management program design and implementation by global, market-leading procurement organizations.

Key topics include:

Edie Sachs, Senior Marketing and Content Manager, GEP

The Innovative CPO’s Road Map

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Procurement has evolved to become more strategic and collaborative and has moved from an isolated, back-office function to a boardroom partner. While the procurement function must continue to drive hard savings, manage suppliers and mitigate risk, it must also pivot to look for opportunities to deliver future savings and innovation.  

“Procurement is at an inflection point,” said Dr. Marcell Vollmer in a recent interview with SIG CEO Dawn Tiura. “Procurement needs to transform into a value-added function focusing on strategic tasks.” How can procurement teams do this?  

Based on interviews with today’s leading procurement executives, innovative suppliers and academic research on the procurement function, five notable areas stand out in which procurement can drive innovation in areas critical to the sourcing industry.  

Future of Sourcing Awards

INVEST IN THE RIGHT TALENT

For all the great advancements that technology brings, it requires people to manage the technology. Oxford Economics’ survey among procurement executives and practitioners found that the top three investment priorities include new talent recruitment, training/upskilling programs and procurement/supply-chain technology.  

Stacy Mendoza, Digital Marketing Specialist

Resources for Supplier Diversity Programs

The benefits of a supplier diversity program can have lasting impacts on your community and your organization.

For those who work in any area of the supply chain, diversity is a word that comes up often. Supplier diversity or diversity in contracting are programs that can be either mandatory (i.e., requirement to fulfill state or federal contracts) or voluntary (i.e., procurement/social responsibility strategy).   

Whether your organization chooses diverse suppliers for advocacy and social responsibility reasons, to comply with state or federal regulations, or to simply meet your stated requirements and work scope, the benefits of supplier diversity can have lasting impacts on your community and your organization. 

Starting a Supplier Diversity Program (SD Program) in your organization requires input and collaboration from various stakeholders at all levels. The SIG Resource Center has a wealth of information to help you begin the process to implement an SD Program, including how to make the business case to internal stakeholders, best practices and benchmarking studies from your peers.  

Mary Zampino, Senior Director of Global Sourcing Intelligence

14 Ways the Workplace is Evolving - Is Your Corporate Culture Keeping Up?

As corporate cultural battles play out, workplaces have become the battleground, with outcomes increasingly dependent on worker engagement, health, well-being and a sense of belonging or purpose. The following are 14 workplace trends reshaping corporate cultures in 2014 and beyond:

Bernice Boucher