SIG Speaks Blog

Unconditional Procurement with Cybersecurity

Locket and numbers symbolizing cybersecurity

Daryl Hammett is COO and General Manager at ConnXus, a supplier management software company. Daryl completed the Certified Third Party Risk Management Professional (C3PRMP) program through SIG University. He shares how he is implementing the best practices he learned in the program to mitigate cybersecurity risk at ConnXus.


In the global supply chain landscape, cybersecurity threats are increasing exponentially. Fortune 500 companies’ sensitive information is leaked because hackers target their vendors and business partners, and organizations that might not be as secure as their corporate buyers. Every supplier and business partner can become an added risk. Working with global companies big and small, one of the most significant opportunities that I've observed is managing multi-tier suppliers and mitigating risk. We can support all our suppliers through secured technology and the principle of “unconditional procurement.”

Daryl Hammett, CSMP, CSP, C3PRMP, General Manager/Chief Operating Officer, ConnXus

SIG Speaks Weekly Briefing - June 10

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

Free Whitepaper: The Strategic Sourcing Lifecycle

Regardless of the specific definition that is chosen, strategic sourcing is a process that is designed, and employed, to maximize the value of each purchase made by the company. It is an evolving process that matures and adapts as the needs of the organization change.

Artificial Intelligence and Its Impact On Procurement and Supply Chain

Read how GEP is breaking down some of the essential AI concepts and showcasing the game-changing applications that they believe are most relevant in procurement and the supply chain.

Hailey Corr, Content Manger

The Role of AI in Your Vendor Negotiations

Robot with AI

Negotiation is a fundamentally human act between two or more people. When it comes to vendor negotiations, this is driven by the prior (and future) relationship between human counterparties. While digital processes can support this mission, if a key decision maker involved in a vendor negotiation goes on vacation, changes jobs or gets hit by a bus, the negotiation will stall or scramble to reach a conclusion. It’s a good reminder that no matter what role artificial intelligence (AI) plays in a negotiation, the negotiation process and award decision are driven by humans. 

The true purpose of AI is to make human negotiators more effective by reducing their time spent on busywork (rather than removing humans from the negotiation process). This insight about how technology can augment and empower procurement teams (rather than displacing them), is of fundamental importance 

For those participating in the vendor negotiations, it is likely that their companies book travel through a digital app that aggregates and discounts airline tickets. It is also likely that the hotel and ride to the meeting are also booked via digital apps. Thus, the technology stack that supports this “in-person meeting” is being mediated by a variety of digital apps (many of which already leverage AI), apps that support (rather than displace) the crucial in-person business negotiation by reducing the number of low-value transactional tasks and phone calls.

Edmund Zagorin, Founder and CEO, Bid Ops Inc.

This Month at SIG – June 2019

It’s hard to believe that we’re already halfway through 2019! Take a moment to reflect on the goals you set for yourself at the beginning of the year. Whether you’re on track to accomplish those goals or have some catching up to do, SIG is here to help you close out Q2 with opportunities to win a professional award, join a webinar from the comfort of your desk and get the presentation anthology from our latest Global Executive Summit.

Awards Deadline Extension

Due to heightened interest in the second-annual Future of Sourcing Awards, the deadline to submit a nomination has been extended to June 7. You can nominate yourself or your colleagues for an individual award or submit a nomination for a team award in one of eight categories.

There is no entry fee and the application process is easy. Visit the Future of Sourcing Awards website for more details and to see the 2018 winners. If you need help with your submission, reach out to the SIG Awards team at awards@sig.org.

SIG has appointed a panel of 18 judges to review the entries. Finalists will be announced in August and the winners will be revealed in a special ceremony at the SIG Fall Global Executive Summit in October. 

 

Stacy Mendoza, Digital Marketing Manager

SIG Speaks Weekly Briefing - May 28

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

Artificial Intelligence and Its Impact on Procurement and Supply Chain

Read how GEP is breaking down some of the essential AI concepts and showcasing the game-changing applications that they believe are most relevant in procurement and the supply chain.

eBook on Artificial Intelligence Essentials

Artificial Intelligence is the topic of many business conversations where often the fantasy is of intelligent robots doing more work with less time and resources. Not all of the promises related to AI are unfounded. Read this eBook to learn how AI’s potential can transform procurement.

Ariba Live Barcelona

SIG’s CEO and President, Dawn Tiura, will be speaking at SAP Ariba Live. Join her there!

Latest Future of Sourcing Articles

Future of Sourcing continues the "Women in Global Sourcing series" with Tracy Scheid. Tracy is the Vice President of Operations at Workspend. She is a strategic and results-oriented leader with over 30 years of experience aligning business goals with talent acquisition strategies.

Hailey Corr, Content Manger

Procurement Myth-Busting - Putting Misconceptions to Rest

Many companies are on missions to improve their procurement processes. One technique that caught my eye is an approach used by the U.S. government, which started in 2011 when the Office of Federal Procurement (OFPP) , a unit of the Office of Management and Budget began disseminating a series of “myth-busting” memos.

The concept is interesting because it is aimed at helping procurement people (many of whom have been in their jobs for their entire career) realize that policies and practices are much different than what they have learned over the years. The first memo explains that “with expenditures of over $500 billion annually on contracts and orders for goods and services, the federal government has an obligation to conduct our procurements in the most effective, responsible, and efficient manner possible.”

So what are some of the common myths? One is a major misconception that the government can’t meet one-on-one with potential suppliers as they seek the best way to develop a strategy or prepare for a competitive bid. Sadly, many in government procurement believe this is not allowed, because talking to one supplier can unfairly disadvantage other suppliers that are not also called into meetings.

The myth-busting memo sets it straight, pointing to the Federal Acquisition Regulation (FAR), in Part 15, which actually encourages exchanges of information with interested parties during the solicitation process; this then ends with the receipt of proposals. “There is no requirement that the meetings include all possible offerors, nor is there a prohibition on one-on-one meetings,” the memo says.

Kate Vitasek, Educator and Expert, University of Tennessee

SIG Speaks Weekly Briefing - May 20

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

Artificial Intelligence and Its Impact on Procurement and Supply Chain

Read how GEP is breaking down some of the essential AI concepts and showcasing the game-changing applications that they believe are most relevant in procurement and the supply chain.

New eBook on Supplier Risk

Which sourcing innovation practices are yielding the best outcomes for your enterprise peers? Participate in the Pinnacle Model™ study for a complimentary summary of the findings.

SAP Ariba Live Barcelona

SIG’s CEO and President, Dawn Tiura, will be speaking at SAP Ariba Live. Join her there!

Latest Future of Sourcing Articles

Many European companies are following the trend to “nearshore,” as opposed to “offshore”. Read how Poland is emerging as a leader in IT outsourcing.

Dominic Irvine gives insight into finding a work/life balance and the keys to time management in the workplace.

Hailey Corr, Content Manger

When the Future You Expect Never Arrives

When the future you expect never arrives and business predictions fall short of their mark, the culprit is—more often than not—bad or missing data. Procurement staff must ensure their data is accurate from start to finish so that their forecasts have the desired outcomes. 
 
Idioms abound about how to tackle future challenges such as “past results do not guarantee future performance” or conversely, “those who do not learn history are doomed to repeat it.” We have all seen or heard these intuitive phrases. On the surface, they would seem to be at odds. In reality, they address two different concepts associated with using the past (data) to understand, predict and influence the future.  
 
Similarly, when it comes to projects that involve the need for data, whether it is to predict sales to manage inventories or to train a system to automate a process, success hinges on having the right set of data to use as input to the decision making process. Today, where machines are often making decisions, the notion of “right set of data” becomes a lot harder to understand. This is because machines learn in a different way and the rationale for the output they produce is difficult to reconstruct. 
 
Machines do not have the intuition or the critical reasoning that can help to elevate or discount one data point over another. Input data must be accurate, representative, and free from bias so here are some key guidelines about your data to help ensure successful projects:
 
1. Accurate Data. Having accurate data is essential because a machine can learn on both accurate and inaccurate data, but only accurate data provides the desired results: a machine that provides output, which is reliable.
 
Greg Council, Vice President of Product Management, Parascript

SIG Speaks Weekly Briefing - May 13

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

Artificial Intelligence and Its Impact on Procurement and Supply Chain

Read how GEP is breaking down some of the essential AI concepts and showcasing the game-changing applications that they believe are most relevant in procurement and the supply chain.

New eBook on Supplier Risk

Your suppliers’ risks are your risks. It’s time to develop a comprehensive risk management program that protects your brand, customers, and bottom line in a world where global supply chains are symbiotically intertwined and interdependent.

Western Regional SIGnature Event

Join SIG and top industry leaders May 16 for a full day of top-notch thought leadership. The stars of the western part of the United States are coming together in Bellevue, Washington.

Latest Future of Sourcing Articles

As a business leader you get 360s, so why doesn’t the business you lead? Mark Teitell, of The Trium Group gives, insight into the benefits of doing a similar process for your business.

Hailey Corr, Content Manger

SIG Speaks Weekly Briefing - May 6

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

This Month at SIG

If your April was full of showers (real or figurative), we hope you can seize the opportunity this month to make things bloom and reap the benefits of your hard work. Read about the important things happening at SIG in May to give you a boost.

Artificial Intelligence Essentials

Artificial Intelligence is the topic of many business conversations where often the fantasy is of intelligent robots doing more work with less time and resources.  Not all of the promises related to AI are unfounded. Read this eBook to learn how AI’s potential can transform procurement.

Thought Leadership Webinar - Gaining Control, While Improving Quality, of your Contingent Workforce Program

Join SIG and VectorVMS June 4 at 1pm ET for a webinar to learn how to look at your contingent workforce program more strategically -- no matter where you are in the maturity of your program. 
 

Sourcing Innovation Pinnacle Model™ Assessment

Which sourcing innovation practices are yielding the best outcomes for your enterprise peers? Participate in the Pinnacle Model™ study for a complimentary summary of the findings.

Hailey Corr, Content Manger

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