SIG Speaks Blog

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

SIG Speaks Weekly Briefing - June 17

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

Artificial Intelligence Essentials

Artificial Intelligence is the topic of many business conversations in which 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.

Unconditional Procurement with Cybersecurity

The COO of ConnXus shares how he is implementing the best practices learned in SIG University's Certified Third Party Risk Management Professional program to mitigate cybersecurity risk for his clients.

Hailey Corr, Content Manger

Procurement with a Purpose at SAP Ariba Live

Wow, who would have thought that I would leave a conference hosted by a supplier and feel better about the world and the impact we can have on it? That is exactly the way I felt not once, but twice, at SAP Ariba Live in Texas and in Barcelona. While I adore Tifenn Dano Kwan’s influencer team, particularly Amisha Gandhi, who is the Vice President of Influencer Marketing, and Gale Daikoku, the Global Communities and Ambassador Program Lead, the person who struck a chord most deeply with me was Padmini Ranganathan. She’s the Global Vice President of Sustainability and Risk with SAP Ariba. What first struck me as odd was the combination of “sustainability” and “risk” in her title.

Often when people think of sustainability, they think of one of these two definitions:

Dawn Tiura, President and CEO, SIG

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

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