SIG Speaks Blog

Big Changes Arrive in the C-Suite

It’s no secret that technology, data analytics, globalization, and other factors have completely changed many aspects of modern business. Supply chains are wider than ever, sales and procurement strategies are increasingly predictive thanks to advance data approaches, and more companies are outsourcing work and relying on contractors.

Amid all this, the C-suite has seemed relatively stable. A business might have a CEO, a COO, a CFO, or other executives, but they tend to focus on business processes within their domains of expertise. But increasingly, it looks like those widespread shifts in other departments have reached the C-suite.

Whether through collaborations or new roles, the executive level in many companies has been adapting to new realities. Here’s how they’re doing it.

Collaboration

The technological shifts and trend toward outsourcing have been a boom for bottom lines, but they have also made the nature of business decision-making more complex. Consider, for example, the role of a CIO. For years, information and technology managers chose and oversaw the implementation of network solutions for a company to use in-house. But now that many businesses hire outside firms to handle cloud storage, data security, and other essential IT functions, the CIO’s role has changed. Now they are having to think more about purchasing, contracts and third-party risks, like a CPO, and about strategy and long-term competitiveness, like a CEO.

As a result, the traditional walls between those positions have begun to break down. The CIO in the example above can’t move forward with new contracts or strategy without consulting their peers in the C-suite. Likewise, if a procurement officer or human resources lead want to implement new software solutions that can add value and intelligence to their departments—an increasingly common occurrence—they’ll benefit from consultation and buy-in from the CIO.

Patrick Gahagan, Director of Contract Compliance Audit Services at SC&H Group

SIG Speaks Weekly Briefing - March 11

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

New eBook on Supplier Risk

Gain insight into developing 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.

Managing Services Spend Within a Gig Economy

Register today for a webinar featuring SIG President and CEO, Dawn Tiura, Andrew Bartels of Forrester and Asif Bhanwadia of Coupa to hear how to better source, procure, and manage your contingent workforce within your increasing external services spend.

SIG University Open Enrollment

SIG University's online certification programs are developed by practitioners, subject-matter experts and academics to equip working professionals with best and emerging practices that provide the most well-rounded educational content available on the market. Last chance to save 15% on spring courses! Early enrollment discount expires on March 15th.

Survey of Procurement and Finance Leaders

Suplari invites leaders in finance and procurement roles across North America to take their Recession Survey. The goal is to better understand what strategies enterprise companies are implementing to maintain a strong platform for success. Results will be shared in our upcoming Recession-Proofing the Enterprise report.


Technological Trends in 2019: A New Look at Supplier Diversity

Supplier Diversity Technology

In 2019, global supply chains are focused on technology and innovation. Today’s global supply chains are often complex, with many moving parts. However, procurement professionals are facing increasing pressure to manage them with efficiency and transparency. Creating a successful supply chain requires building a sustainable foundation. Though technology mobilizes supply chains to compete faster and better in today’s global economy, having a strategy to optimize your talent is just as important. Technology that gives business users more autonomy and security are reflected in a positive impact on your organization’s bottom line.

Based on my experience, many businesses have separate initiatives that fragment their supply chains and could benefit from pooling resources and aligning different stakeholders to the same common goals with the use of technology. For example, many businesses have separate supplier diversity processes. They have supplier diversity experts who don’t collaborate with their larger procurement teams. Sourcing and procurement professionals are often incentivized differently and often don’t communicate nor see eye to eye on the same overall strategy. With collaboration, your organization can streamline its supply chain and build a stronger foundation for process-driven results.

In today’s market, you can no longer ignore the rapidly changing landscape of digital transformation. Companies that are reluctant to embrace the technologies that bring better visibility and security to supply chains risk being left behind. To avoid that fate, here’s what companies can do in 2019 to improve supplier diversity and overall supplier relationship management process.

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

SIG Speaks Weekly Briefing - March 4

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

SAP Ariba Live Sustainability Summit

Join sustainability experts and practitioners, including SIG’s CEO Dawn Tiura, at SAP Ariba Live on April 1-3 in Austin, to discover new tools, technologies, and resources to strengthen sustainability programs. .

This Month at SIG

This month our clocks spring forward and most of us gain an extra hour of daylight. To make the most of that extra hour, consider attending a networking event, thought leadership webinar or exploring SIG’s new research partnership with Everest Group.

SIG University Open Enrollment

Join your classmates from over 200 companies representing 17 countries at SIG University! SIG U's online certification programs are developed by practitioners, subject-matter experts and academics to equip working professionals with best and emerging practices. Enroll by March 15 to save 15%! Classes start on April 15th.

Hailey Corr, Content Manger

This Month at SIG - March 2019

This Month at SIG

This month our clocks spring forward and we gain an extra hour of daylight. To make the most of that extra hour, consider attending a networking event, thought leadership webinar or exploring SIG’s new partnership with Everest Group that brings delegates proprietary research, insights and analysis. Ready to get started?

Midwestern Regional SIGnature Event

March 6
Minneapolis Central Library

The Midwestern Regional SIGnature Event takes place at the beautiful Minneapolis Central Library on March 6. The event includes a great lineup of speakers from BB&T, Best Buy, Everest Group, Ontala and Virtual Operations who will present on topics that include third-party risk management, artificial intelligence in procurement, sourcing transformation strategies and how to buy digital platforms for your enterprise.

The event will begin with an executive roundtable for director-level and above delegates, while their teams take part in a training workshop on the fundamentals and frameworks of third-party risk management with risk expert Linda Tuck Chapman, who created the Certified Third Party Risk Management Program for SIG University.

To learn more about the day’s events, speakers, who should attend and to register you and your team, visit our website.

Stacy Mendoza, Digital Marketing Manager

Submit your Nomination for a Future of Sourcing Award

We are pleased to announce that nominations are now being accepted for the second-annual Future of Sourcing Awards, which will take place on October 16 at the Fall Global Executive Summit in Carlsbad, California.

The Future of Sourcing Awards program celebrates individuals and companies that are transforming, innovating and leading the sourcing and outsourcing industry. The Awards recognize team accomplishments in the following critical categories:

  • Sourcing
  • Outsourcing
  • Third Party Management
  • Supplier Performance
  • Digitization
  • Governance/Compliance
  • Talent Management
  • Sustainability

The winner of each award will represent the best example of innovation in each category, showing the greatest achievement in terms of fundamentally changing the nature of their business. In addition, the event will include two individual awards—the Rising Star and Sourcing Star awards to recognize individuals who have demonstrated ingenuity, initiative and innovation in their careers.

>>Learn more about the Future of Sourcing Awards categories

Stacy Mendoza, Digital Marketing Manager

SIG Speaks Weekly Briefing - February 25

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

Nominations are Open for the Future of Sourcing Awards

SIG invites you to submit a nomination for the second-annual Future of Sourcing Awards to celebrate organizations and individuals showing innovation, leadership and/or transformation in the sourcing industry. The 2019 Awards will take place on Wednesday, October 16, 2019, the capstone evening at the SIG Global Executive Summit.

2019 Procurement Outlook Report

The 2019 GEP Outlook for Procurement and Supply Chain Management is now available. This indispensable report reflects views of the industry’s best thought leaders and category experts — equipping you with procurement strategies and other essential tools to prepare you for a successful year ahead. Download your copy today!

SIG University Open Enrollment

Sourcing, procurement and risk professionals need flexible options to upskill their teams in a rapidly changing digital environment. SIG University’s online certification programs provide that flexibility. Enroll by March 15 to save 15%! Additional discounts are available for enrolling teams of 10 or more. Classes start on April 15th.

Hailey Corr, Content Manger

The Truth About Category Management

Unorganized binders sitting on a desk.

With the evolution of procurement and the shift from a reactive, “three-bid-and-buy” scenario to more advanced means of sourcing, Category Management often is a concept best placed at the latter end of the spectrum. This makes sense because if you still quote products and services on an as-needed basis, you likely haven’t introduced the concept of collectively sourcing all spend within the category or subcategory. That reactionary approach may be the result of several things -- lack of support from the business, a misunderstanding of Procurement’s role, an inadequate process or workflow, or a combination of all of the above.

On the other side, many organizations have Category Management structures in place, or at least claim to. From my experience, an organization saying it has a framework for Category Management and an organization actually having such a framework are two very different things. More often than not, organizations will either employ a homegrown version of the methodology or leverage something that’s really not like Category Management at all.

>>Catch up on all the latest topics on Category Management

Category Management can be approached differently based on several factors, including the industry you are in, whether you are service or product focused, what model of procurement you apply (centralized, decentralized, or center led), what drives the most spend in the organization and so on. As a result, I don’t think there is a strict rulebook on how to apply Category Management to your business.

While no two organizations will approach Category Management the same, these best practices should help any organization ensure their unique methodology is effective.

Jennifer Ulrich, Associate Director, Source One, a Corcentric Company

SIG Speaks Weekly Briefing - February 18

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

Procurement’s Vital Role in Building a Talent Forward MSP Program

As we look into the future of contingent workforce management, and the vision of what a Managed Services Provider (MSP) solution should deliver, we must acknowledge that many of today’s MSP programs are failing to deliver on their original promise. It is time for a change.

Free Industry Research

Coupa Software commissioned Forrester Consulting to evaluate the state of services and contingent workforce management, addressing the unique set of challenges firms face, the kinds of software tools needed to support services spending, and the internal adoption and usage of these tools.

SIG University Open Enrollment

Today’s students become tomorrow’s leaders! Join best-in-class sourcing and procurement teams to proactively manage risk, utilize best-in-class methodologies and activate innovative ideas. Take advantage of a 15% discount if you enroll by March 15th. Classes start on April 15th.

Hailey Corr, Content Manger

Why I’m in Love with Impact Sourcing

Hands with hearts on the palm.

“Impact sourcing results in a more engaged and motivated workforce for companies,
and enables them to increase their global competitiveness.” — The Rockefeller Foundation

You need the work done and there are countries that are disadvantaged, war-torn or underemployed that have motivated, educated workers who can perform the work you need. It truly is the correct choice. Why continue outsourcing to developed countries or countries in which the vast majority of people already have access to the middle class?

Did you know that outsourcing to India is the number one reason it now has a thriving middle class? Are you aware that through outsourcing an entire generation was lifted out of poverty in both China and India? Do you know that when you outsource to a country, it can change the trajectory of people’s lives? In a 2003 speech, Anne Krueger, First Deputy Managing Director of the IMF stated that the impacts of globalization have benefited both India and China by lifting millions of people out of poverty since 1980 and putting tens of millions of people firmly into the middle class. In addition, China has seen their extreme poverty rate fall from 84 percent to about 10 percent largely because of trade, reports the Economist.

Dawn Tiura, President and CEO, SIG

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