SIG Speaks Blog

This Month at SIG – May 2019

You know the saying…April showers bring May flowers, and May happens to be my favorite month of the year. With the flowers blooming, the humidity low (at least where I am in Mid-Atlantic US) and more hours of sunlight to enjoy, I can’t help but get excited for the start of May. If your April was full of showers (real or figurative), I hope you can seize the opportunity this month to make things bloom and reap the benefits of your hard work. Here are a few important things happening at SIG in May to give you a boost.

FUTURE OF SOURCING AWARDS NOMINATION DEADLINE IS MAY 15

Speaking of reaping the rewards of your work, have you considered submitting a nomination to win a Future of Sourcing Award? We are accepting nominations until May 15 to honor and celebrate individuals and organizations that show innovation, leadership and transformation in areas that are critical to the sourcing industry. The 2019 Awards will bring together some of the brightest minds in the industry to create a truly remarkable experience.  

Has your team made a successful impact toward moving our industry forward? Consider submitting a nomination to recognize their achievements with a Future of Sourcing Award! The team awards recognize companies who are fundamentally influencing the world of sourcing in new and innovative ways. There are also individual award categories to honor the personal accomplishments of sourcing professionals.

Heather Schleicher, Senior Marketing Director

SIG Speaks Weekly Briefing - April 29

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

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

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 - When it Comes to Sourcing, ERPs Can’t Do It All: Here’s How Modular Software Solutions Help

Join SIG and Bonfire May 2 at 1pm ET for a webinar to learn how out-of-box sourcing solutions can be leveraged to support traditional ERPs, and avoid unwanted risk.
 

How Prepared is Your Company for a Recession?

Suplari invites finance and procurement leaders to take their Recession Survey. Share your thoughts and receive indispensable analysis and strategies to recession-proof your organization.

Hailey Corr, Content Manger

SIG Speaks to Kelly Bengston, CPO at Starbucks

Kelly Bengston is Senior Vice President, Chief Procurement Officer at Starbucks. Kelly is responsible for enhancing Starbucks enterprise-wide functional strategic sourcing and supplier relationships, creating consistent global sourcing processes, developing a sourcing talent management program and building a values-based approach to working with suppliers across all categories of the business.

Kelly has held numerous leadership positions during her 8-plus years with Starbucks. Most recently, Kelly served as Vice President of Starbucks Global Supply Chain’s Strategy & Deployment team, a new team created under Kelly to support Starbucks supply chain’s aspirations of becoming digitized, strategically aligning resources against priorities and building capabilities through long-term capacity planning and supply chain intelligence.

Prior to joining Starbucks, Kelly gained broad experience in packaging, product development, manufacturing, and project management at Macy’s, Bensussen Deutsch, Cranium and Hasbro. She enjoys running, traveling, and spending time with her family. Her favorite Starbucks beverage is Nitro Cold Brew.

Kelly will share her expertise with attendees at the Western Regional SIGnature Event in Bellevue, WA on May 16th. 

Can you share a little more about your day-to-day role and responsibilities as the Chief Procurement Officer for Starbucks?

I am fortunate to have an amazing job, working for an amazing company.  My day-to-day is filled with connecting with great partners and suppliers to deliver products and services to our stores and customers.   

Heather Schleicher, Senior Marketing Director

SIG Speaks Weekly Briefing - April 22

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

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.

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

Change Through Business Value Creation and the Global UN Sustainable Development Goals

“It’s not enough to have lived, we should be determined to live for something” – Leo F. Buscaglia

The pursuit of greater meaning sits at the pinnacle of human nature. It reflects within all that we do, in our lives, and in our professions. As procurement or sourcing professionals, we strive every day to make a difference in the business, to solve problems while creating business value. The words “sustainability”, “sustainable”, and “impact” are commonplace these days in the procurement and sourcing world as the industry pushes towards a new future in sustainable business – but what can we really do to drive true change?

We believe Procurement has the expertise to drive sustainability while delivering the highest standard of work and championing continuous improvement in business by integrating our processes with the United Nations Sustainable Development Goals (UN SDGs).

Amidst all the various measures in the world today, the UN SDGs provides a solid benchmark for sustainable procurement and sourcing for the following reasons:

Jane Zhang, Co-Founder of ETCH Sourcing

SIG Speaks Weekly Briefing - April 15 - Spring Global Executive Summit

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

The Global Executive Summit begins today!

We are in warm and sunny Amelia Island, Florida waiting for you to join us for the SIG Global Executive Summit taking place this Monday-Wednesday.

Can’t make it this spring? Join us in Carlsbad!

Registration is now open for the Fall Global Executive Summit in Carlsbad, CA from October 14th-16th. Secure your spot for this one of a kind event!

The SIGInnova Product Forum

The SIGInnova Product Forum is today at 3 pm. Buy-side attendees will interact with the latest sourcing technologies and see how they can drive strategic impact, improve profits and mitigate risk. Participants will be exposed to innovative and disruptive products that can help shape the future of Procurement.
 

2019 Summit Sessions

Sneak a peek at the sessions online. Our agenda is packed with content AND networking opportunities! Don't miss out!

Hailey Corr, Content Manger

Artificial Intelligence Spawns the Next Largest Divide

Artificial Intelligence (AI) is creating the next largest divide not only between people, but also between organizations. Taking full advantage of AI requires a two-pronged approach by any enterprise. First is to identify the business processes that can gain most from the introduction of AI. Second is to treat AI as a key component in any reengineering effort with quality data as one of the highest priorities.  

Since one key beneficial attribute of AI is that it can replace tedious, low-value human tasks, it is important to target processes that enable staff to focus on other higher-value areas. The perspective of pragmatically tackling routine processes first is echoed in research presented by Harvard Business Review, which provides a useful construct by defining three types of AI: one applied for automation, another for delivering insight, and a third for customer engagement.  

Data Science: the Key to Successful AI 

Greg Council, Vice President of Product Management, Parascript

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

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. 

Patrick will share his expertise with attendees at the Western Regional SIGnature Event in Bellevue, WA on May 16th. 

Heather Schleicher, Senior Marketing Director

SIG Speaks Weekly Briefing - April 8

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

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!

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.

SIG University Open Enrollment

It's not too late to enroll in SIG University’s spring certification programs to learn the core concepts and best practices in strategic sourcing, supply management and risk management. 
 
Don't delay. Classes start on April 15th!
 

How Prepared is Your Company for a Recession?

Suplari invites finance and procurement leaders to take their Recession Survey. Share your thoughts and receive indispensable analysis and strategies to recession-proof your organization.

Hailey Corr, Content Manger

How to Reduce Value Leakage in Complex Contracts

According to reports authored by the International Association of Contract and Commercial Management, the Aberdeen Group, and the International Association of Outsourcing Professionals, the average contract loses approximately 17% to 40% of its value from the time of execution through to close-out. Value leakage can range from things like low adoption rates, non-value-added change orders, lack of innovation, poor governance, etc. This blog post will help contract professionals understand how customer-supplier relationships lose value and three best practices to preserve value.

Move Beyond Deal Points

Typically, negotiators think in terms of “getting the best deal”, meaning, financial and legal Terms that are favorable to the negotiator’s organization. Here is the problem: if businesspeople accept this premise, they are negotiating short-term “deals” in a complex, long-term business environment.

Focusing on the “deal” often leads to losing focus on the larger business goal(s) that a customer-supplier relationship seeks to address. For example, an overemphasis on “getting the best deal” often results in failing to fully document costly aspects of the work in the Statement of Work, failing to include adequate inspection, testing and cure processes, and failing to document and control common risk events.

Furthermore, focusing on the “deal” also precludes the inclusion of innovation in the delivery of goods and services. Buying emerging technologies like artificial intelligence, robotic process automation, cloud computing, or cognitive automation is the new norm, yet only 21% of respondents in Deloitte’s 2016 Global Outsourcing Survey reported that innovation was a key part of their contracts.

Jeanette Nyden and Lawrence Kane

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