SIG Speaks Blog

SIG Speaks Weekly Briefing - July 22

Weekly briefing of all the latest news from SIG

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

Benchmark & Optimize Your Spend Strategy

Gain exclusive access to a chapter highlight from Coupa’s annual benchmark report, where they look at 3 KPIs across the source-to-contract process to gauge your organization’s progress and optimize your spend strategy.

Contingent Workforce Management Pinnacle Model™ Analysis

Everest Group is exploring what yields the best outcomes for overall contingent workforce management. Participate in the Pinnacle Model™ study for a complimentary summary of the findings.

Hailey Corr, Content Manger

Cognitive Automation: Reading the Tea Leaves

Cognitive automation mimics human brain functions

As more enterprises and service providers adopt cognitive automation to improve their manual processes, reading the tea leaves or better yet, examining case studies suggests a new job landscape with some fairly drastic improvements in efficiency.

Harvard Business Review (HBR) provides a useful summary article explaining how to deconstruct work into tasks that can be automated. Here three characteristics are used to assess our work:

  • Repetitive vs. variable work;
  • Dependent vs. interdependent work; and
  • Physical work vs. mental work. 

Any automation assessment model should also take into consideration the nature and complexity of both the inputs and outputs onto which we can overlay these three characteristics to assess the impact of automation based upon the nature of work itself. 

Basic automation has arguably had the highest level of impact so far. It is applied to rote, highly repeatable and low variance tasks. For example, basic automation supports the IT back office such as regular back-ups of data or automated provisioning of software resources (such as email accounts and CRM access).

These activities can be highly automated due to the nature of the work and low probability of exceptions to workflows. The inputs can be highly structured with very little variability while outputs are often binary. The result is either a successful completion or an exception. These tasks are very independent with interactions typically only with application interfaces. There is very little mental effort required.

Greg Council, Vice President of Marketing and Product Management

SIG Speaks Weekly Briefing - July 15

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. 

Plans & Tactics to Recession-Proof the Enterprise

The U.S. economy is reaching a record-breaking period of expansion but all good things must come to an end. Suplari has conducted a survey of finance and procurement professionals to assess the odds, outlook and what the plan should be in the event of a recession.

Hailey Corr, Content Manger

Procurement as Agents of Change

Group of paper airplanes, orange one is the first place, can be used leadership/individuality concepts.

Plenty of Procurement team man-hours go toward tactical execution – there’s a lot that needs to be done to keep the trains running each day. However, Procurement pros are in a unique position to become higher-level strategists within their organization, guiding business forward. To take this position, Procurement teams need to become agents of change.

The Law of Life

Kennedy once said, “Change is the law of life. And those who look only to the past or present are certain to miss the future.” I don’t usually kick off an article with a quote, but this one speaks too well to the reasons for becoming a change agent (and the risks of not doing so). Our competitors grow and evolve. One of the great killers of an established market player is the inability to keep up. I’m not saying anything new here, and the change-or-die edict is nearly cliché these days. So why are so many companies bad at shaking things up? More to the point, how is Procurement supposed to be the catalyst here?

The answer to the first question can be boiled down to a simple answer: Companies are bad at change because change is risky, expensive and time-consuming. The bigger the company, the heavier the lift. And, hey, all of our success came from doing things the way we did them last month, last year. Change introduces an unknown variable.

The second question requires a little digging.

Brian Seipel, Consultant and Spend Analysis Practice Lead, at Source One, a Corcentric company

SIG Speaks Weekly Briefing - July 8

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

CPO Rising 2019: #ValueExpansion

Ardent Partners, in association with Zycus, presents its 14th edition of the CPO Rising report, a comprehensive, industry-wide view into the state of procurement and captures the experience, performance benchmark statistics, perspective, and intentions of 300+ CPOs and procurement executives.

Contingent Workforce Management Pinnacle Model™ Analysis

Everest Group is exploring the practices and technologies that are yielding the best outcomes for overall contingent workforce management. Participate in the Pinnacle Model™ study for a complimentary summary of the findings.

Hailey Corr, Content Manger

Statement of Work: Best Practices for Supplemental Staffing

Group of businesspeople over a table agreeing on a statement of work

There is no question that the world of work is changing. With artificial intelligence (AI), blockchain and robotic process automation (RPA), to name a few, technologies are disrupting the industry in radical ways. When you factor in the retirement of Baby Boomers, the advancement of Millennials into management positions and the proliferation of globalization, the face of the workforce is profoundly different. In addition, over the past 40 years – more so over the past 20 – the concept of working at one company for a person’s entire career has become completely foreign. You would be hard-pressed to find someone who graduated from college any time after 2000 who is still with the same company they initially joined. It’s not your father’s – or dare I say, grandfather’s workforce anymore.

Perhaps the biggest change to the landscape of all is that over 41.5% of the workforce is represented by contingent workers, which brings its own set of challenges. This particular dynamic can have legal implications, making it more important than ever to begin those relationships with clearly defined expectations. With such a large portion of the workforce considered “non-employee” (which includes independent contractors, temp labor, freelance personnel and other gig economy workers), it is more critical than ever to carefully frame expectations.

Sarah Holliman, CEO, Cantaré Creative

This Month at SIG - July 2019

Golden hour sky sunset with city rooftop view background

If you’re looking for an excuse to escape the summer heat, SIG has some ways to help you bide the time inside with video-based learning, industry research, webinars and Career Network updates.  


SIG University

There’s still time to enroll in one of SIG University’s certification programs that can be completed on-demand in five, eight or 12 weeks. Our certification courses will expose your team to leading-edge training in strategic sourcing, third party risk and supplier relationship management. SIG University faculty are practitioners who hold senior leadership positions in the sourcing space and the courses are structured for a variety of learning styles.

To enroll yourself or your team, download the course catalog to get started.

14th Annual CPO Report

For 14 years, Zycus and Ardent Partners have captured the experiences, performances, perspectives and intentions of procurement executives. This report includes benchmark statistics, analysis and recommendations that procurement teams can use to better understand the state of procurement today, gain insight into best practices, benchmark their performance, and improve their operations and performance.

 

July Webinars

Source-to-Pay in 60 Days: Digitize to Drive Maximum Process Efficiency
July 11
Presented by: Zycus

Stacy Mendoza, Digital Marketing Manager

SIG Speaks Weekly Briefing - June 24

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

CPO Rising 2019: #ValueExpansion

Ardent Partners, in association with Zycus, presents its 14th edition of the CPO Rising report, a comprehensive, industry-wide view into the state of procurement and captures the experience, performance benchmark statistics, perspective, and intentions of 300+ CPOs and procurement executives.

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. 

Coupa Inspire'19

Join SIG's President and CEO, Dawn Tiura at Coupa Inspire'19 this week. Dawn will be moderating a panel of CPOs discussing how to be procurement "spendsetters".

Hailey Corr, Content Manger

Supplier Performance Management Saves Time and Money

Male arm holding silver pen point to a graph measuring supplier performance management

SIG University student Moath Alswaidan enrolled in the Certified Sourcing Professional (CSP) program and works at Mitsubishi Heavy Industries – MHPS Saudi Arabia. He shares what he’s learned in the program and how his team plans to implement best practices in supplier performance management.


Supplier performance management is one of the most important areas in sourcing and supply chain management and I feel fortunate to have worked on both the sell side and buy side of the table. Most of the sourcing process requires much effort from both sides until the work is awarded to the supplier. Supplier selling teams spend time and effort to prepare to negotiate a proposal that best fits the buyer. At the same time, the buyer team needs to put the same effort in searching and selecting the best proposal for their organization. It is a waste if the agreement doesn't last due to the lack of supplier performance management.

Transition Process

The supplier performance management process begins by selecting the team from both the buyer and supplier organization. The mission is to translate the contract into the operation language and identify the measurement and monitoring criteria. This task is called transition. The team should have enough knowledge of the business and the scope of work defined in the contract. The transition process requires a joint effort from the transition team and may also require the support of other teams in the organization. The transition process is considered a change from an existing state to the desired state. Therefore, it is recommended to adapt to Lewin's Change Management Model: Unfreeze, Change and Refreeze.

Moath Alswaidan, Supply Chain Manager, Mitsubishi Heavy Industries – MHPS Saudi Arabia

Sidestep High Failure Rates in Digital Transformation

Smart city and communication network concept

Adopting digital transformation (DX) leads to significant growth for organizations when compared to their lagging peers, according to McKinsey and Company research. McKinsey suggests that there are five approaches to plan for and incorporate into any digital transformation (DX) project: ensuring lean process design, digitizing the customer experience, selective process outsourcing, incorporating analytics to aid with decision-making and using intelligent automation for non-core human tasks.

These five approaches make sense; however, there are many speed bumps along the way that will amplify the risks of any DX undertaking. The reality is that few organizations are ready to attempt such an endeavor. The obstacles are enormous. Mapping and documenting processes, culture and change management, access to data science skills, access to the data itself, and managing many moving parts of an implementation are just a few of the complex tasks that an organization must tackle.

As a result, these capability problems have led to a change of thinking both on the part of enterprises and by the organizations that provide services to them. It is critical to examine the key challenges along with potential strategies to resolve these problems.

Greg Council, Vice President of Marketing and Product Management

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