As a Director in SC&H Group’s Contract Compliance Audit Services practice, Patrick has a few key professional motivations with all of his clients: increasing third-party transparency, optimizing supplier relationships, and improving governance. He works with Fortune 100 companies to evaluate contract compliance in categories such as marketing and advertising, contingent staffing, facilities management, construction, computer hardware/software, MRO, security, events, and office supplies. Projects under Patrick’s leadership have resulted in client savings of over $150 million in addition to practical control developments, valuable process improvements, enhanced earnings, and proven cost-savings initiatives. He is very passionate about helping to influence the operations and cultures of global enterprises, and one of his greatest professional achievements was being able to hand over a $1 million recovery check to his client.
“April prepares her green traffic light and the world thinks GO.” – Christopher Morley
April is the start of a new quarter and many teams are seeking ways to make maximum impact on their goals and ultimately their company’s bottom line. To help you put the pedal to the metal this month, SIG has opportunities for training, industry networking and a chance to get recognized for all of the hard work you’ve put in.
SPRING GLOBAL EXECUTIVE SUMMIT
The Spring Global Executive Summit takes place April 15-17 at the Omni Amelia Island Plantation Resort in Amelia Island, FL. This Summit will connect you with other executives and industry experts, so come with an open mind, plenty of business cards and a sincere interest in becoming more strategic and influential.
At this Summit, all of the keynote sessions will bring remarkable stories and insights that will leave you feeling refreshed and inspired, with lots of great ideas to bring back to your team. Here's a look at two of our featured keynotes:
Clint Bruce -- Pursuing Elite: The Five Gifts of Elite Achievers
In any endeavor you can only have one of five outcomes: bad, average, good, excellent, and elite. If the endeavor is your passion or profession, the only acceptable result is somewhere between excellent and elite. Clint uses powerful stories and lessons learned as a highly decorated athlete and member of the elite SEAL Teams to share with the audience techniques to become an elite achiever in all aspects of life.
Sunil Gupta, Avinash Pemmaiah, Brad Killinger -- How do you Innovate to Buy Smart? Ask the Experts!
Jeanette Nyden is an internationally recognized contract negotiation expert. She’s written and co-authored three books to date. Jeanette provides tactical, customized contract drafting, negotiation and management training, coaching and mentoring programs to both sales and purchasing teams.
Jeanette has taught at major corporations, Seattle University and the University of Tennessee’s Center for Executive Education. While no longer practicing law in a traditional manner, she is a lawyer and holds a license to practice law in Washington.
Your presentation at the Western Regional SIGnature Event is about reducing value leakage in complex contracts--why is this such an important topic?
Industry studies demonstrate contract value leakage is from 17% to as high as 40%. Typically, value leakage comes from things like low adoption rates, non-value-added change orders, lack of innovation, etc. Performance- and outcome-based contracting best practices can dramatically reduce value leakage.
Additionally, businesses are seeking greater returns from their customer-supplier relationships at the same time many younger professionals are entering the field. This is a perfect time in the market to emphasize ways to implement performance- and outcome-based principles to reduce value leakage.
Jane Zhang is the Co-Founder of ETCH Sourcing, a Canada based consultancy specializing in providing strategy and execution services in the sourcing, procurement and category management space. She loves people, solving problems, and has years of expertise working throughout the entire sourcing spectrum, from building and executing multi-million-dollar tactical strategies, to being entrusted with some of the most complex and strategic contractual negotiations on business-critical projects. Graduating from the Haskayne School of Business twice over with a Bachelor of Commerce in Marketing and an MBA in Finance with a focus on Global Energy Management and Sustainability, she has returned to build and teach business contract negotiations with her Co-Founder as a part of giving back and elevating her alma mater.
Jane is passionate about education is a member for multiple boards, most notable is her role as Board Director and Chief Operating Officer of a non-profit designed to connect children aged 8-13 with industry learning and development through play.
Jane’s latest passion is to champion the role of sustainability in procurement and is celebrating the launch of ETCH’s sustainable procurement offering, which integrates the UN SDGs as a sustainability function into the procurement process from an end-to-end perspective.
November: the last month of autumn, but the beginning of a new adventure; time to take risks and do the unexpected.
Can you believe it? November is here! And with it comes the start of the holiday season and all the festivities that come with it. Whether this month is one you love or dread, it is a time for new adventures, and those can take shape in many different forms. Create an adventure at work this month by attending a networking event, listening to success stories of industry innovators and learning the latest trends in an online webinar. Here are highlights of the adventures that await you this month from SIG.
Regional Networking Events
This month, we have regional networking events in four different cities: Toronto, Denver, Columbus and New York. Take a day for yourself and/or your team to collaborate in person with industry peers and learn best practices. Discussion topics vary for each event so be sure to look on our website for the most up to date agendas.
SIG’s Fall 2018 Global Executive Summit in Rancho Mirage, California, is less than three 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 how-to labs, speed networking, a CPO Roundtable Program and a charity golf scramble, 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 with the new SIG Events App
One thing you’ll want to do before you depart for Rancho Mirage is to create your Summit agenda. This fall, with 100+ speakers, 50+ educational sessions, panel discussions, networking receptions, keynote presentations, how-to labs 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 have a new app with a built-in schedule planner tool.
There are multiple ways to download the SIG events app to your smart device:
The concept of sustainable sourcing, also known as green purchasing or social sourcing, is nothing new. Sustainable sourcing is impacting nearly every area of corporate business and the consumer’s mindset. Everything from sourcing materials, talent attraction and consumer purchasing habits are changing because of the growth of sustainable sourcing. However, the term gets thrown around in the procurement industry quite a lot and is often misunderstood or misused. So, here’s a guide with all the basics you need to know about sustainable sourcing.
WHAT IS SUSTAINABLE SOURCING
First and foremost, we have to define the term. Sustainable sourcing is the integration of social, ethical and environmental performance factors into the process of selecting suppliers. It includes purchasing sustainably preferable products and services (products made from recycled or remanufactured materials), as well as green purchasing guidelines that might pertain to certain products or commodities.
What is the secret to a Fortune 500 brand’s success? Brands fail not because they lose market share, but because they lose competitive differentiation and profits. The conventional definition of a brand’s value in the provider-driven market used to be the price that the brand could command over a generic competitor. In today’s consumer-driven market, the power of the brand seems to have become separated from its origins: the ability to create and sustain a long-term flow of profit by making people want to buy the product or service, and be willing to pay a higher price for it.
This shift has caused sales and marketing teams to become fixated on driving sales without regard for profitability. We are no longer living in the provider-driven market of decades past, where the company held the power and the information, and could use that to sway the consumer toward purchasing. I can’t think of one industry today that is not impacted by the consumer-driven market that exists. Consumers now hold the power with more access to information, they are the ones driving the purchasing decision, and the providers are now at the mercy of the decisions they make.
I have always valued the power of communication. When I entered college, I didn’t know exactly what I wanted to study. I realized that although I was “good” at many things in school, there was one thing I excelled at – communication. I was a strong writer, and an even stronger speaker. I saw that when most of my classmates dreaded speaking in front of others, that I always enjoyed the experience, and was excited by it. This was the turning point when I decided to focus my career in communications and marketing.
The power of effective communication cannot be underestimated. It is a critical component of life. I’ve seen the impact of effective and ineffective communication in many types of businesses. Ineffective communication has the ability to break businesses. If you can’t communicate effectively with your customers, your intended messages won’t be received or understood – it’s like you’re speaking an entirely different language from them.
So how can you speak the same language as your sourcing clients?
I’ve worked with many companies that provide services and solutions to sourcing and procurement professionals. It’s very clear what separates the successful providers from the rest of the pack – effective communication with their clients. In order to serve and advise sourcing clients in the best way possible, your team must be able to communicate to them through a common language of sourcing. It’s not just about being highly knowledgeable and educated on all things sourcing, it’s about effectively communicating by speaking their language.
Here’s how you can grow your business and better serve your clients through effective communication:
As a marketer, I know the value of branding. The largest and most successful companies in the world have teams of people dedicated solely to branding. Branding is no longer about using the same logo, trademark, tagline and/or color scheme on all your marketing material. Branding is composed of different components including: brand identity, brand image, brand character, brand culture, brand personality and brand essence. Marketing agencies and consultants charge anywhere between $75,000-$250,000 to develop and manage a company’s brand.
Now here’s the kicker with branding that every marketing professional will tell you – they have no idea how it impacts their bottom line. Branding is the most difficult type of marketing to measure because you can’t easily quantify it. So, why are organizations across the globe spending so much money and time on branding? Quite simply – effective branding creates consumer confidence. Establishing a brand with a clear voice and values will enable your consumers to be loyal and confident when they buy from you. People have a natural desire to evolve with a brand whose products and services help give their life or business meaning and significance.
It’s not just businesses that need to focus on effective branding. If you care about your future as a professional in the world of work, you need to focus on your own personal brand. Personal branding is critical to establishing who you are and what you represent to those around you, the equivalent of a company’s consumers. They are your employer, your manager, your co-workers, your peers and anyone else that comes in contact with you in a professional setting. I’m not just talking about ensuring that embarrassing picture from your cousin’s wedding isn’t visible on Facebook... I’m talking about preparing for the future by branding yourself as a leader in your industry now.