Alexander Beck, PhD, is a data scientist with a demonstrated history of utilizing machine learning and data science in the financial sector, especially asset management. Alexander has a 10-year track record in business applicable artificial intelligence research, including in the fields of financial markets and customer analytics.
Data scientists analyze and interpret mountains of complex digital data to inform decision-making and strategic processes. When it comes to digital procurement and supply chains, data scientists can automate workflows and employ predictive analytics to more accurately forecast demand or disruption.
IBM predicts that demand for data scientists will increase by 28 percent by 2020, with Finance and Insurance, Professional Services and IT generating the most demand. This role often requires an advanced degree, such as a master’s or PhD. For those who are looking to add data scientists to their teams or want to learn how to best work with data scientists, Alexander shares insight into his function, how he assists the business to make informed decisions and automate workflows, and highlights some common misconceptions about data scientists.
Rosemarie Subasic is a Vice President with Hines, a privately owned, international real estate firm. She is a Procurement Executive with more than 30 years of experience in corporate and government facilities, real estate and operations management. For the past 12 years, she has been responsible for facilities operations for Morgan Stanley, with an annual operating budget of over $150 million dollars. She manages over 70 sourcing activities annually.
Rosemarie will be a featured presenter at the New York City CPO Meet and Eat event on September 12 from 8 a.m. to 11 a.m. This event is a three-hour breakfast meeting with CPO-only level delegates. The event topics are focused on current events locally, nationally and globally, and allow CPOs to seek input from the group on their own top-of-mind issues. By keeping this meeting very high level, CPOs are better able to share and network with each other.
Can you talk about your background and education--how did you get involved in facilities management?
I graduated as a marketing major with a business degree in 1985. My first job after college, as an Operations Analyst for the City of New York, involved collecting, reporting and using data related to real estate and facilities operations. From there I went on to manage real estate and support services for the Department of Transportation (NYCDOT) and decided to pursue facilities management as a career.
As the demand for independent talent grows, many organizations are using their own resources to directly source top independent talent without engaging third-party staffing agencies or consulting firms to perform recruiting functions. Direct sourcing affords many economic benefits such as avoiding high-priced staffing markups, decreasing overhead costs by hiring fewer full-time employees and filling project-specific roles with the right-priced independent talent.
But direct sourcing is only a small part of the picture. In order to compliantly utilize independent talent end-to-end, organizations must build a Direct Access program that encompasses finding, sourcing, engaging, paying and managing independent workers. Here are five best practices organizations should keep in mind when creating a Direct Access program to source and engage independent professional talent.
1. Drive Support from the Top Down
A lasting and successful Direct Access program begins with the right leadership support and sponsorship. This support must be driven from the top down by a senior business leader who has influence over the managers who will be sourcing and utilizing independent talent.
While a top-down approach is not the only method, attempting to build a Direct Access program from the bottom up is almost always a long and arduous path. Internal adoption is much slower and disjointed as the process relies on word of mouth and proof-of-concept in small groups.
When it comes to Robotic Process Automation (RPA) within a digital transformation project, the clear objective is to move all processes into a controllable, fully-automated workflow. This is achievable when processes need to use structured data. However, the most expensive and business-critical processes involve human workflows using complex, document-based information. Achieving the same levels of automation realized from structured RPA-enabled processes becomes much more challenging because the needed information isn’t always easy for a system to locate—much less successfully extract—from a document. Without a precise solution for getting access to document-based data, automation is adversely affected.
Finding the Right Solution
The answer is to approach cognitive RPA projects by understanding the level of “maturity” required with respect to the level of document automation your project requires and compare that with your peer’s experience within your industry.
This includes getting a solid foundation in what are current best practices regarding automation and understanding the various options for injecting document automation into RPA projects. Not all vendors approach a solution in the same way and not all capabilities are equal.
Greg Council, Vice President of Marketing and Product Management
Here at the SIG headquarters, we’re working hard to provide you with an exciting line-up of fall events and thought leadership. Whether you plan to spend July taking some much-needed time off or your goal is to wrap up some big projects, SIG is here to support you in your day-to-day responsibilities. Register for one of our upcoming webinars that cover today’s latest trends in the industry or listen to our thought-provoking podcast on your commute or a work trip.
You can stay up-to-the-minute with all things SIG by following us on Twitter, LinkedIn and Facebook. Here’s what’s happening in July:
CPO Virtual Forum
On July 19, senior procurement executives are invited to join SIG and Oliver Wyman for an exclusive CPO Virtual Forum. CPO Virtual Forums are one-hour, single-topic sessions in which CPOs gather online to openly discuss their most pressing issues. Facilitated by Oliver Wyman, the forum will generate actionable next-steps to discuss during the CPO Roundtable held at the Fall Global Executive Summit in Rancho Mirage, California, October 15-18.
This interactive presentation will be delivered in an open-mic, collaborative format via WebEx that will not be recorded to ensure candid conversations. The topic for this Virtual Forum will be "Procurement Rebranded: Leveraging the Wisdom of Brands to Produce a Star Function." Visit our website for the full session description and to register, but you must hurry – space is limited!
Given the intensity with which companies today are focusing on innovation and profitable growth, it is imperative that procurement teams drive strategies that support enterprise-level business goals. Beyond traditional sourcing approaches, strategic category management delivers a collaborative way of developing solutions that support both business and category objectives. Category management maximizes category value to the organization, delivering on critical parameters such as total cost of ownership, risk and performance, to name a few.
While procurement organizations around the world realize the significance of building an advanced category management program, getting there isn’t simple. In a number of organizations today, category management is still at a nascent stage, perhaps indicating that though there is an organizational structure for category management, it is not quite aligned with the business strategy. For many though, exhausted sourcing strategies turn out to be their biggest hindrance.
To address this issue, GEP and SIG have teamed up for a webinar with Biju Mohan, vice president of GEP Consulting, to discuss the latest trends influencing strategic category management program design and implementation by global, market-leading procurement organizations.
Key topics include:
Edie Sachs, Senior Marketing and Content Manager, GEP
A CFO-CPO relationship, like any other, is not perfect and is often rooted in a lack of trust and miscommunication, which, at times, makes it seem beyond repair. The CPO promises savings and talks about adding value, but the CFO only sees costs and finds the P&L showing increased spending. This obvious gap between what procurement claims and what finance sees deepens further because the language and terminology used are not aligned. As a result, misunderstanding and communication breakdowns happen.
Before exploring how to make the relationship between procurement and finance work, it is crucial to note how procurement has evolved from having the penny pincher reputation to becoming the heart of supply chain management. Organizations are now starting to see it as a key driver for competitive advantage. With various value-adding superhero functions, it has emerged from being just a cost-cutting function to having its own voice with a newfound organizational influence and corporate visibility. Mastering its potential and knowing its strategic and critical contribution will ensure a competitive advantage in today’s dynamic global business landscape.
The month of June is a time for reflection. As you approach the halfway point in the calendar year, it is a good time to consider what you've learned in the past six months and how you can apply those learnings going forward. Some changes will be easy, such as process improvements, but changes in partnerships or relationships will require more stakeholder support. Reflection coupled with bold action can make for transformative change at the end of the year.
SIG has a variety of resources, thought leadership and crowd-sourced best practices and benchmarking studies to help you navigate any challenge you encounter so you don't have to reinvent the wheel every time something pops up. Here's a rundown of how SIG can help you meet your goals in June.
Summer Enrollment Savings
SIG University's summer programs begin July 16. A dedicated member of our team will help up-skill you or your team, with options to enroll in a five-week Certified Supply Management Professional program or a twelve-week Certified Sourcing Professional program. Enroll in our summer programs now and you’ll be ready to implement what you’re learning as early as Q3. While you are planning ahead, consider enrolling in our new Risk curriculum and earn a Certified Third Party Risk Management Professional designation. This eight-week program launches September 24.
These comprehensive programs provide professionals with principles that can be immediately put into practice, including:
Procurement has evolved to become more strategic and collaborative and has moved from an isolated, back-office function to a boardroom partner. While the procurement function must continue to drive hard savings, manage suppliers and mitigate risk, it must also pivot to look for opportunities to deliver future savings and innovation.
“Procurement is at an inflection point,” said Dr. Marcell Vollmer in an interview with SIG CEO Dawn Tiura. “Procurement needs to transform into a value-added function focusing on strategic tasks.” How can procurement teams do this?
For all the great advancements that technology brings, it requires people to manage the technology. Oxford Economics’ survey among procurement executives and practitioners found that the top three investment priorities include new talent recruitment, training/upskilling programs and procurement/supply-chain technology.
Ryan A. Murray is the First Deputy Director in the Mayor's Office of Contract Services for the City of New York. He manages an oversight and service agency that was responsible for $21 billion in procurement in FY17. New York City operates a federated model with an estimated 2,000 staff and evolving technology landscape. Mr. Murray leads the people and change practice, serves as the chief strategy officer and guides the legislative/policy agenda for the Mayor's Office of Contract Services.
What kind of transformation did you help the Mayor’s Office achieve and how was success measured?
Doing business with the City should be easy and internal city procurement operations should be efficient. Disparate practices across industries, a federated model, rigid bureaucratic rules and heavy reliance on paper processes impede the realization of quality experience by vendors and agencies. That’s why we are implementing a multi-year project to overhaul operations. In 2017 we reached the first critical milestone by launching the Procurement and Sourcing Solutions Portal (PASSPort). Together with our technology and implementation partners, we introduced centralized supplier management, moving a cumbersome vendor disclosures process online, establishing a shared platform for data sharing across agencies and allowing vendors to access contract performance data in the same portal. This success enables us to develop and launch requisitioning, sourcing and payment modules in the next two years.