Procurement

This Month at SIG – April 2021

Here's your monthly update on the latest thought leadership, networking events and training with SIG.

This month we host our April SIGnature Event, have a host of exciting industry research and training to keep you up to date, and registration is open for SIG’s Procurement Technology Summit.


Geofencing of Employees, Onshoring and More - The New Normal

There’s still time to register for our upcoming digital SIGnature Event on April 21. The theme for the event is The New Normal. Senior-level and above delegates will participate in an executive roundtable hosted by Oliver Wyman to discuss energy transition and sustainable procurement.

Concurrent to the Executive Roundtable session will be an interactive panel discussion on Diversity & Inclusion, hosted by Janice Green, President & CEO , Women’s Business Enterprise Council Pacific (WBEC Pacific) .

Registration is Open: SIG Procurement Technology Summit

Prepare yourself and your team for the future of business at the SIG Procurement Technology Summit May 4-6, 2021!

Registered buy-side attendees get FREE ACCESS to attend all keynote sessions, engage and learn from the brightest industry experts, connect through AI-powered speed networking and experience live solution deep-dives from best-in-class providers.

Desmond Williams, Digital Marketing Coordinator

Women's History Month Spotlight Part 2

highlighting women authors during womens history month

As a continuation of our celebration of diversity and inclusion this year and Women's History Month, we bring you part 2 of our Women's History Spotlight.


Purvee Kondal

Purvee Kondal is a Senior Director at Globality, an advisory board member at RampRate, a Nomination Committee member for the Athena Rising Foundation Fellowship, an Athena Alliance member, and a National Association of Corporate Directors Accelerate program participant.

She is a seasoned executive with over 15 years of experience leading transformational changes at notable organizations such as Johnson & Johnson, Capgemini, General Electric, and Ross Stores.

Emily Rakowski

Emily Rakowski is the Chief Marketing Officer at EcoVadis. Emily brings over 20 years’ experience in high-tech marketing and consulting to EcoVadis. She previously spent many years in global marketing and demand management roles with both SAP and Ariba. Also, she is a SIG Advisory Board member.

Padmini Ranganathan

Padmini Ranganathan is Global Vice President, Product Strategy, SAP Procurement solutions. In this role, she leads a team of experts focused on watching emerging trends and helping shape the future of digital and sustainable procurement. Throughout her 25+ year career journey, Padmini has been a passionate advocate for bringing technology to business users that simplifies and enriches their daily work and decision making.

Desmond Williams, Digital Marketing Manager

The Soft Skills of Successful Stakeholder Management

stakeholder management

SIG University Certified Sourcing Professional (CSP) program graduate Candace Masuda, outlines how soft skills evolve procurement professionals into successful stakeholder managers.


As procurement professionals, we are required to wear many hats. We are consultants, analysts, problem solvers and project managers.  All these qualities are necessary but not as crucial as having internal personal/soft skills. Interpersonal skills are the key to success in leading teams, negotiating and maintaining great relationships with our internal and external customers.

Several years ago, I was fortunate to attend a management training class. Something really resonated with me in that class about leadership and styles. There was a survey that reached out to several Fortune 500 companies. The goal of the study was to determine the most favored management style amongst their employees.  

What Makes a Leader

Employees were asked to think of their favorite manager, past or present.  What were the skills this person exhibited which made them great to work with? The survey results were interesting. The typical characteristics were technical, analytical and on-the-job experience. However, though these skills were at the top of the list, they were not the most significant.  The most valuable skill was the manager that had strong people skills. The employees worked harder, enjoyed their job and were highly motivated. 

Candace Masuda, Procurement Specialist, American Honda Motor Co.

Women's History Month Spotlight

highlighting women authors during womens history month

SIG will be celebrating diversity and inclusion this year and this month, we are highlighting the professional contributions of SIG members for Women's History Month. We have selected a round up of our favorite women authors over the last year to feature!


Sheena Smith

Sheena is the Managing Director of North America at Spend Matters, starting with the organization in 2010 as their copyeditor.

 

Michele Wesseling

Michele leads the TD Securities' Global Third Party Management Office with a mandate to manage TD Securities' third party risk and spend proactively, centralize third party management, and maintain an effective operating model aligned with rapidly changing regulatory requirements.

 

Dawn Tiura

Dawn Tiura, CEO and President of SIG, SIG University and Future of Sourcing Digital Publication, has over 26 years leadership experience, with the past 22 years focused on the sourcing and outsourcing industry.

 

Mary Zampino

Mary Zampino is the Vice President – Content, Research & Analytics at SIG and has over 20 years of experience in information technology and over 15 years of experience in sourcing.

 

Desmond Williams, Digital Marketing Manager

How Streamlined Purchasing Supports Training and Development Programs

technology training and development

2020 created a unique situation for businesses and significant learnings from the unforeseen circumstances of the pandemic.  2021 will be the year these learnings are put into action.  Internally, this may mean updates to standard operating procedures, workflows and other processes to better prepare for the unforeseen. The explosion in online training and the expected increase in budgets will offer more opportunities. Businesses with a well-trained workforce will have a competitive advantage. 

Training is perhaps more critical in 2021 than in years’ past. It is well known that a comprehensive training and development program empowers employees and improves retention. According to LinkedIn’s 2020 Workplace Learning report,  51% of learning and development experts will be launching upskilling programs while 43% will be reskilling their teams.  So much has been learned across industries, disciplines, etc, that it will be critical for not only the Procurement organization to be an active participant in training but Marketing, Accounting, Manufacturing, Supply chain, etc.

Streamlined Procurement can be Part of the Solution

Across organizations, departments are being challenged to do more with fewer resources.  As a result, finding the time to participate in training sessions becomes more difficult. Establishing a priority for what training is most important becomes a challenge. Finding ways to make company-wide processes easier lowers the burden on the individual department in 2 ways. First, simpler technology or processes eliminates the need for formal training sessions, and an easier process saves time and encourages user engagement.

Kelly Luecke, Marketing Coordinator, Buyerquest

This Month at SIG – March 2021

Here's your monthly update on the latest thought leadership, networking events and training with SIG.

This month we prepare for a new future in procurement, have a host of exciting industry research and webinars to keep you up to date, and we announce that registration is open for SIG’s Procurement Technology Summit.


Don't Miss These March Events

Why Does Procurement Take so Long? And How Can We Fix It?

Business stakeholders are continuously frustrated by how long procurement takes to bring suppliers on board. CPOs and senior executives are invited to join experts from App Orchid to learn innovative ideas for transforming the traditional procurement process within the organization.

Procurement: More than Savings

Join this open discussion with Canda Rozier, CIAP, Collabra Consulting and SIG University faculty, for her take on how procurement can best achieve value beyond just savings. This is your time to "Ask the Expert" as Canda has decades of experience on both sides of the business and is ready to share her insights based on trusted and tested methodologies.

 

Registration is Open: SIG Procurement Technology Summit

According to industry experts, procurement as a function will change more in the next five years than it has in the last 50. Prepare yourself and your team for the future of business at the SIG Procurement Technology Summit May 4-6, 2021!

Registered buy-side attendees get FREE ACCESS to attend all keynote sessions, engage and learn from the brightest industry experts, connect through AI-powered speed networking and experience live solution deep-dives from best-in-class providers.

Desmond Williams, Digital Marketing Coordinator

Supply Chain Mobility: Sourcing Tomorrow’s Business

Supply chain sourcing

There’s a lot of talk regarding all the ways technology is going to revolutionize procurement. Blockchain can increase supply chain visibility. The Internet of Things (IoT) can change the way our business devices communicate with each other. But what type of innovations are available at the sourcing level?

From paper RFPs to conferences, it seems the way we source business has largely remained the same. Procurement teams are limited to siloed, outdated supplier databases and incomplete business information when attempting to make business decisions. It’s expensive and time-consuming to get a holistic picture of a supplier’s business health and mitigate third-party risk.

How can we adapt today’s technology for tomorrow’s sourcing needs? Here are a few innovative ways that your organization can source business.

Mobilize Your Supply Chain

I believe the key to sourcing success lies in mobilizing supply chains. Right now, supplier data is locked down in many different places that don’t communicate with each other. A large organization may have supplier data separately located throughout their ERP and CRM systems, accounting and legal departments, and Excel files floating around from supplier diversity programs, in addition to their procurement arm.

Teams are often tasked with managing legacy Electronic Data Interchange (EDI) systems with high overhead costs and systems that are unable to effectively manage the dynamic nature and sheer abundance of today’s business data. Traditionally, supplier information has been limited to line items such as name, tax ID, quantity and price of a sourced product, and remit-to-pay.

Daryl Hammett, CSMP, CSP, C3PRMP, Global Head of Lead Management and Operations Amazon Web Services (AWS)

7 Reasons to Respond to that Survey

SIG is hosting a survey to find out what matters most to SIG members.

Every day, my inbox is bombarded with requests for feedback. Most requests I honor because I am a data nerd and I know there's some fellow data nerd behind the scenes who really needs the insight for their business case. Also because my husband is a PhD and we spent several years of our marriage dedicated to quantitative assessments - I have seen tears spilled over empty questionnaires.

Many survey requests I archive for later because I want to see how our partners and competitors collect data and use it to shape their programs. But mostly, I just think it is incredibly important to share your opinion when asked. (I could write a whole different blog on when NOT express your opinion, mostly from first-hand experience.)

This is a list of the top 7 reasons why I think people should respond to SIG surveys in particular and surveys in general.

SIG Member Input Drives Content Creation

As sourcing professionals, you are really good at understanding the value of your partnerships and ensuring you realize that value -- that is why we have strategic sourcing, negotiations, performance measurement and things like vested sourcing. Providing your input to SIG about what you need from our partnership is critical to us delivering the content, the speakers, the tools, the connections and the awareness you expect from us. You are paying for it, so let us know how we can serve you!

Expressing Your Opinion Is Good for Mental Health

Get it off your chest, share your concerns and join a community of people who are facing the same problems as you. We know your leadership, your customers and your team are all leaning on you to make 2021 successful. Telling someone about this can be extremely helpful, because it means someone is in your corner listening.

Mary Zampino, Vice President – Content, Research & Analytics

How to Align Procurement with Finance

All of these strategies are essential to help procurement succeed in collaborating with finance, but you have a far greater likelihood of success if you select the right tools. Choose a digital solution that offers robust reporting, enhances visibility, and enables real-time engagement.

Procurement is a business function that offers so much in the way of value. However, its not always easy to showcase the full spectrum of what procurement provides to other teams or get the necessary buy-in from sponsors or stakeholders to support procurement activities. In fact, one of the common pain points for procurement practitioners is the ability to align finance.

Finance is a critical business function. So much of what guides operations is based on the bottom line and therefore it is absolutely essential that procurement align with finance. Without this collaboration, procurement teams will struggle to gain credibility within an organization and will be less able to contribute to the overall success of the business. In order for procurement to truly be successful, it needs to align with finance. Here are some tips for helping achieve alignment between finance and procurement.

Develop a reporting structure that promotes collaboration

Reporting is essential for keeping different departments aligned. It’s only logical that the department in charge of managing money and the team that handles buying should coordinate. To really make the most of your collaborative efforts, try syncing on reporting structure to increase adoption. Ideally, procurement would actually fall under the purview of finance wherein the CPO reports directly to the CFO to increase that alignment. Benefits include:

Jason Treida, Head of Americas, Per Angusta

An Exposé from Procurement Insider Peter Smith

Procurement business

Career procurement professional turned author Peter Smith, MA, FCIPS, FRSA, recently joined the Sourcing Industry Landscape Podcast to lift the lid on some of the worst procurement scams in history, offers practical advice on avoiding embarrassing mistakes, and shares how to make sound, strategic procurement decisions. 


If you're going back to 2019 is when you wrote the book, can you share some of their global disasters or the big stories that you included in the book back then?

When it comes to procurement failures, there are many areas, and some of them do not really understand what you're buying. And that can be something very simple, like the printing equipment the Irish government bought that didn't actually fit into the building they were putting it in. Or much more complex technology failures and so on.

But then, there are some interesting areas we perhaps don't think about so much in supply chain procurement, and I believe getting incentives wrong is a fascinating one. So, how do you incentivize suppliers to do the right thing?

And some of the failures there are clearly failures, but when you ask the question, "Well, how would you have done it, so it wasn't a failure?" those answers are not simple. Just something as straightforward as, "How do you get the incentives right for somebody running an outsourced call center for you? They're handling customer queries, doing inquiries or complaints. How do you incentivize them to work efficiently but give excellent customer service to the people calling in?

Desmond Williams, Digital Marketing Coordinator

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