procurement

This is the Future of Sourcing

Futuristic Image

New technology, competitive drive and the desire to upend the status quo to influence innovation and enhance value are important characteristics for sourcing and procurement professionals in today’s world. As the digital transformation continues to accelerate at an unprecedented and exciting pace, SIG wants to recognize the change makers, movers and shakers who show innovation, leadership and transformation in areas critical to the sourcing industry.

This week, SIG announced the finalists for the inaugural Future of Sourcing Awards taking place at the Fall Global Executive Summit in Rancho Mirage, California, on October 17. A panel of 14 senior executives judged nominees in eight team categories and two individual categories. The teams and individuals listed below demonstrated ingenuity, initiative and innovation and showed the greatest achievements in terms of fundamentally changing the nature of their business and/or industry.

Please join us in congratulating the 2018 Future of Sourcing Awards finalists!

Innovations in Sourcing

  • GEP - Digital Procurement Transformation for a University System
  • GEP - Procurement Transformation with a CPG Client
  • HERE Technologies - Internal Sourcing Transformation Project
  • VSP Global - Spend It Like Its Yours (SILIY) project

Innovations in Outsourcing

Stacy Mendoza, Digital Marketing Specialist

Interview with Kevin Nash, VP and CPO, Health Care Services Corporation

An image of the Chicago skyline.

Kevin Nash is the Vice President Chief Procurement Officer at Health Care Services Corporation, a Blue Cross Blue Shield Company. As an experienced executive in procurement, sourcing and supply chain operations, Kevin manages over 100 people who oversee a wide range of functions from sourcing and contracting to regulatory requirements. Kevin shares his tips to keep a large team organized, his outlook on the growing role of procurement in organizations, and his advice for those looking to be better procurement professionals and team leaders.

Can you talk about your background and education--how did you get involved in procurement?

Like many procurement professionals, I stumbled upon procurement early in my career and found it to be an interesting and exciting area to work. After graduating with a degree in engineering, I started my career at GE supporting a manufacturing process. While in manufacturing, I began to focus on supply chain because we were experiencing frequent supply chain and inventory issues that were significantly impacting the ability to meet the production schedule. After finishing my MBA and leaving GE, I joined a consulting firm and continued to focus on supply chain with an emphasis on procurement. While in consulting, I transitioned from focusing on the supply chain for direct material to supply chain and procurement in service-orientated companies.

Stacy Mendoza, Digital Marketing Specialist

Love and Hard Data

Two hands in the shape of a heart with the sun shining through the middle.

A CFO-CPO relationship, like any other, is not perfect and is often rooted in a lack of trust and miscommunication, which, at times, makes it seem beyond repair. The CPO promises savings and talks about adding value, but the CFO only sees costs and finds the P&L showing increased spending. This obvious gap between what procurement claims and what finance sees deepens further because the language and terminology used are not aligned. As a result, misunderstanding and communication breakdowns happen. 

The webinar ‘Prove Procurement’s Contribution to Finance with Love and Hard Data’ is designed to help procurement professionals turn their CFO’s hate into love. With Johan-Peter Teppala, a seasoned procurement expert and Bruno Duréault, an experienced CFO, this relationship dynamic between finance and procurement is discussed. With more than a decade of experience in their respective fields, they address and uncover the practical ways to improve this partnership.

Before exploring how to make the relationship between procurement and finance work, it is crucial to note how procurement has evolved from having the penny pincher reputation to becoming the heart of supply chain management. Organizations are now starting to see it as a key driver for competitive advantage. With various value-adding superhero functions, it has emerged from being just a cost-cutting function to having its own voice with a newfound organizational influence and corporate visibility. Mastering its potential and knowing its strategic and critical contribution will ensure a competitive advantage in today’s dynamic global business landscape.

Ericka Pineda, Product Marketing Specialist

Interview with Ryan A. Murray, New York City Mayor's Office of Contract Services

Ryan Murray, First Deputy Director in the Mayor's Office of Contract Services for the City of New York

Ryan A. Murray is the First Deputy Director in the Mayor's Office of Contract Services for the City of New York. He manages an oversight and service agency that was responsible for $21 billion in procurement in FY17. New York City operates a federated model with an estimated 2,000 staff and evolving technology landscape. Mr. Murray leads the people and change practice, serves as the chief strategy officer and guides the legislative/policy agenda for the Mayor's Office of Contract Services.

 
Mr. Murray, who provided the keynote presentation at the New York City CPO Meet and Eat, shares how he is leading the transformation journey for the Mayor's Office of Contract Services to make the procurement and sourcing functions more efficient.  
 

What kind of transformation did you help the Mayor’s Office achieve and how was success measured?

Doing business with the City should be easy and internal city procurement operations should be efficient. Disparate practices across industries, a federated model, rigid bureaucratic rules and heavy reliance on paper processes impede the realization of quality experience by vendors and agencies. That’s why we are implementing a multi-year project to overhaul operations. In 2017 we reached the first critical milestone by launching the Procurement and Sourcing Solutions Portal (PASSPort). Together with our technology and implementation partners, we introduced centralized supplier management, moving a cumbersome vendor disclosures process online, establishing a shared platform for data sharing across agencies and allowing vendors to access contract performance data in the same portal. This success enables us to develop and launch requisitioning, sourcing and payment modules in the next two years.

Stacy Mendoza, Digital Marketing Specialist