It’s been a long year and we’re only halfway through it. Many of us have scrapped our plans, both personally and professionally, retooled our strategies and reprioritized our resources. It’s frustrating to make drastic changes with no clear forecast on the horizon, but growth comes from being uncomfortable and taking risks. Instead of dwelling on what could have been, let's take a look at what’s to come.
Summit Presentation Anthology
Following each Summit, we release our Summit Presentation Anthology that offers a snapshot of each presentation along with the presenter’s contact information. The inaugural Spring Procurement Technology Summit was supposed to be an in-person event in April, but the global pandemic upended our plans and we had to pivot our strategy to go digital.
While we missed catching up with old friends and making new connections at the Summit, we welcomed over 1,100 delegates from all over the world to our digital platform. The best part? Every single session is recorded! Not only can you get the presentation decks, but you can watch any sessions you missed or revisit sessions to dive deeper in the subject matter. The Anthology is only available to SIG members. If you’re not a member and want to join, reach out to us.
COVID-19 Resources for Procurement, Sourcing and Workforce Management
When we switched our spring Summit from in-person to virtual due to the global pandemic, many Summit presenters also changed their topic given the current events. What we are experiencing now is historical on many fronts, not the least of which is the role of procurement in a global emergency.
It’s hard to believe that we’re already halfway through 2020! Given everything that's happened this year, it's likely that the goals you set for yourself at the beginning of the year have changed - and that's okay. No matter what you seek to accomplish, whether it's pushing ahead or navigating a new normal, SIG is here to help you start Q3 with a bang.
Calling all CPOs!
Senior procurement executives are invited to join this monthly virtual meeting to find solutions to challenges that procurement leaders are facing today. These single-topic discussions are delivered in an open-mic, collaborative format for a personal and targeted discussion.
With a maximum of 15 attendees, this two-hour session will cover topics relevant to CPO and executive-level procurement practitioners across industries. You are invited to join the discussion and share your experiences, ask questions and share your expertise with the group.
A SIG University certification on your resume will make you stand out and demonstrate your expertise. Earn your certification at a discounted rate when you enroll and pay prior to June 6! SIG University’s curriculum is unique and delivered entirely online. Students learn from real-world sourcing and risk events that are taught by senior industry practitioners. Graduates are equipped with the resources and knowledge to add value immediately.
I am pleased to announce that SIG has appointed the following nine senior executives to the SIG Advisory Board for a three-year term:
Jeff Amsel, Vice President, Global Sourcing and Real Estate, HERE Technologies
Tony Filippone, Chief Procurement Officer, Axis Capital
Daryl Hammett, Chief Operating Officer, ConnXus
Ed Hansen, Partner, Co-Chair, Outsourcing and Digital Transformation Group, Nelson Mullins Riley & Scarborough
Pat McCarthy, Senior Vice President and General Manager, Global, SAP Ariba and SAP Fieldglass
Mike Morsch, Vice President, Global Procurement and Supply Chain, CDK Global
Michael van Keulen, Chief Procurement Officer, Coupa
Chris Sawchuk, Principal and Global Procurement Advisory Practice Leader, The Hackett Group
Michele Wesseling, Associate Vice President, Global Third Party Management Office, TD Securities Limited
The diversity of these companies is a true reflection of the SIG community at large. The value that the Board brings through their insight and experiences is immensely important to the strategic direction for SIG. SIG’s members represent trillions in annual revenues and sourceable spend and their impact on their organization’s operations and bottom line cannot be overstated.
This impressive Board will begin their term at the SIG Procurement Technology Summit taking place online beginning on May 11, and are rounded out with these existing Board members:
No one could have predicted that the start of Q2 would be quite like this. As the world works to flatten the curve of the COVID-19 pandemic, businesses will come to rely on procurement more than ever. This month, SIG is providing free access to a selection of business continuity resources for all readers, along with more information on earning a professional certification that will increase your value during these uncertain times, plus there's an exciting update on the Procurement Technology Summit and more.
Business Continuity Resources for Sourcing and Procurement
The SIG Resource Center has thousands of tools and templates for SIG members to use and reference, but since knowledge sharing is of critical importance right now, SIG is offering free access to the below resources to all readers, regardless of membership status. These can be used to help you and your teams ensure business continuity and plan for future crises that may arise.
3. What will go back to the way it was pre-COVID? Like most of you, when I try to fall asleep and clear my mind, I can't help but dwell on these questions. The world has proven itself to be very small and more interconnected than we might have realized. I also feel that this is a test of leadership as well as a test of people's character.
Impacts to the Gig Economy
4. Do you think about the gig workers and what this might mean to the future of the gig economy?
5. Will people drop the flexibility they once craved for more traditional employment that has PTO, sick time, health insurance and other benefits?
6. Do you think that when half of the workforce embraced the gig economy for flexibility and the thrill of ever-evolving work experiences that they thought about what a pandemic means for them or not being able to file for unemployment?
7. Will we think about localizing and diversifying more of our supply chain to protect against the risk of a future pandemic?
8. Will companies retreat to adding costs to their supply chains by adding inventory to protect against risk, or will we learn to open our inventory to share with other companies?
Impacts to the Government and the Economy
9. In the future, who will you trust to lead you?
10. Have you gained or lost trust in the government or the media; and did it change once the pandemic got closer to home?
11. Do you ever think that people were maybe overreacting, or did you hold firm in your urge to protect every human life, the economy be damned?
In the Northern Hemisphere, March signals the first month of spring. In the procurement world, March signals the beginning of conference season! Attending events gives you the opportunity to learn more about the industry and make valuable connections, which are important for professional growth. Short on time? Check out a virtual webinar to learn something new in just an hour. No matter where you get your inspiration, share what you learn with the broader SIG community in our member’s LinkedIn Group.
Rescheduled - Western Regional SIGnature Event
The Western Regional SIGnature Event has been rescheduled to October 1 due to the current reports of the Coronavirus (COVID-19) in Washington state. This postponement was done out of an abundance of caution for the health and safety of our attendees and employees. All registrations have been carried over to this new date and there is no need for you to register again.
Please modify or rebook your travel and hotel reservations for the new date. Most airlines are accommodating reservation changes right now due to the Coronavirus. If you cannot attend on October 1, please update your registration status on our website. Should you have any questions or concerns about your registration, please email email@example.com.
Check out the February round-up of new research from our industry partners, upcoming webinars to bookmark and the latest podcasts with procurement thought leaders and award winners.
Contract Risk Playbook: Risks Hiding in Plain Sight
This e-book is an advanced guide for corporate boards and senior executives to mitigate contractual risks. Included are steps to assess situations, take action and move forward, as well as a checklist for directors and executives.
February 5 – 5 Procure-to-Pay Trends to Watch in 2020 Presented by: Basware Now is the perfect time to take a look at the future of P2P. This webinar will cover new innovations in the P2P marketplace and the trends that will make the biggest impact this year.
February 25 – The State of Procurement’s Value Measurement: Evolution and Best Practices Presented by: Ivalua Today, successful value measurement in procurement requires understanding the mindset of stakeholders and leveraging the trove of procurement data that's available. Join this webinar for insight into best practices and to better understand changes in the industry that impact procurement’s value measurement.
2020 will be a big year for many reasons: it’s not only the start of a new decade, but the upcoming presidential election will have enormous impacts on businesses and economies across the world no matter who occupies the White House. As the world’s supply chains brace for more uncertainty and try to read the presidential candidates’ tea leaves, the best thing that you can do is prepare yourself to stay ahead of the competition.
SIG University Offers New Intelligent Automation Certification
Kick off the new year with a professional certification from SIG University! Now offering four certifications, SIG University has partnered with Virtual Operations to provide advanced training on Intelligent Process Automation. Ready to take your expertise to the next level with cutting-edge training? Check out the four certification programs offered below, classes begin January 20.
Here's your weekly update on the latest thought leadership, networking events and training with SIG.
Complimentary Location Market Report
Everest Group provides SIG buy-side members with a complimentary location report on Poland. The report helps sourcing practitioners stay ahead of competition in understanding key market dynamics and the related opportunities presented by this location.
Tap into a wealth of benchmark data to identify which procurement software provider best meets your organization’s specific technology needs with Spend Matters' SolutionMap Accelerator. SIG buy-side members receive a 20% discount.
As we settle into the holidays and celebrate with family and friends, we also look to a new decade. Absent a downturn economy, it’s hard for some to understand the importance of a strong procurement and sourcing organization. But we are so much more than just a cost-savings industry. While we are seen as an overhead, we really are the engine that keeps the company on course.
Rather than looking back at all the gains our industry has achieved this year, here are my thoughts on some of the exciting trends that I believe will pick up momentum in the next year.
1. Elevating the Role of Strategic Sourcing
Without strategic sourcing, we would not be able to improve cost, quality and service levels while guarding against third-party risk. Without the strength of our negotiations, contract development, business insights and supplier relationship management, we would fail on safeguarding our supply chains against human trafficking, conflict minerals and child labor.
I’m seeing more interest in third-party risk management from boards and company executives, and in my conversations with them, it’s clear that more resources will be devoted to supporting sustainability initiatives and the ability to act on business insights.