SIG

Supply Chain Mobility: Sourcing Tomorrow’s Business

Supply chain sourcing

There’s a lot of talk regarding all the ways technology is going to revolutionize procurement. Blockchain can increase supply chain visibility. The Internet of Things (IoT) can change the way our business devices communicate with each other. But what type of innovations are available at the sourcing level?

From paper RFPs to conferences, it seems the way we source business has largely remained the same. Procurement teams are limited to siloed, outdated supplier databases and incomplete business information when attempting to make business decisions. It’s expensive and time-consuming to get a holistic picture of a supplier’s business health and mitigate third-party risk.

How can we adapt today’s technology for tomorrow’s sourcing needs? Here are a few innovative ways that your organization can source business.

Mobilize Your Supply Chain

I believe the key to sourcing success lies in mobilizing supply chains. Right now, supplier data is locked down in many different places that don’t communicate with each other. A large organization may have supplier data separately located throughout their ERP and CRM systems, accounting and legal departments, and Excel files floating around from supplier diversity programs, in addition to their procurement arm.

Teams are often tasked with managing legacy Electronic Data Interchange (EDI) systems with high overhead costs and systems that are unable to effectively manage the dynamic nature and sheer abundance of today’s business data. Traditionally, supplier information has been limited to line items such as name, tax ID, quantity and price of a sourced product, and remit-to-pay.

Daryl Hammett, CSMP, CSP, C3PRMP, Global Head of Lead Management and Operations Amazon Web Services (AWS)

Trending in the SIG Resource Center – February 2021

In early December 2020, Google published its trends for 2020, listing the top searched terms, people, news stories and more. It is no great surprise that "Coronavirus" was the top searched term and news story. Nor that Tom Hanks, Kobe Bryant or Kamala Harris were high on the list. What I found remarkable is that these trends were not reflected in the top searched terms for SIG's website in 2020. In fact, it was business as usual on our website. Sure "COVID" and "resiliency" and "remote work policies" made the list. Website traffic and searches increased in volume, but our visitors were searching for the same topics and downloading some of our best case studies for help.

Here's just a short snapshot of some of the trending searches in 2020:

Category Management

Most sourcing professionals know what category management is and a critical mass of our members practice category management at varying levels of maturity. This SIG blog summarizes our resources in one location and is one of our most visited pages. Members frequently download our Template for Building a Business Case for Category Management.

Mary Zampino, Vice President – Content, Research & Analytics

7 Reasons to Respond to that Survey

SIG is hosting a survey to find out what matters most to SIG members.

Every day, my inbox is bombarded with requests for feedback. Most requests I honor because I am a data nerd and I know there's some fellow data nerd behind the scenes who really needs the insight for their business case. Also because my husband is a PhD and we spent several years of our marriage dedicated to quantitative assessments - I have seen tears spilled over empty questionnaires.

Many survey requests I archive for later because I want to see how our partners and competitors collect data and use it to shape their programs. But mostly, I just think it is incredibly important to share your opinion when asked. (I could write a whole different blog on when NOT express your opinion, mostly from first-hand experience.)

This is a list of the top 7 reasons why I think people should respond to SIG surveys in particular and surveys in general.

SIG Member Input Drives Content Creation

As sourcing professionals, you are really good at understanding the value of your partnerships and ensuring you realize that value -- that is why we have strategic sourcing, negotiations, performance measurement and things like vested sourcing. Providing your input to SIG about what you need from our partnership is critical to us delivering the content, the speakers, the tools, the connections and the awareness you expect from us. You are paying for it, so let us know how we can serve you!

Expressing Your Opinion Is Good for Mental Health

Get it off your chest, share your concerns and join a community of people who are facing the same problems as you. We know your leadership, your customers and your team are all leaning on you to make 2021 successful. Telling someone about this can be extremely helpful, because it means someone is in your corner listening.

Mary Zampino, Vice President – Content, Research & Analytics

This Month at SIG – February 2021

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

This month we begin to build back stronger with leadership insight, industry research and webinars to keep you up to date.


Executive Leadership Education

Executives are invited to attend SIG’s next CPO & Executive Roundtable on February 24 for open-mic discussions on executive leadership and education, continuity of leadership and what skills the leaders of the future must develop.

GEP Outlook 2021 Report

For procurement leaders, there’s a lot more to do. And more questions than answers.

Get a big leg up with the GEP Outlook 2021 Report — featuring eight critical leadership themes that will help you navigate uncertainty and thrive in the new normal. Published annually, the GEP Outlook Report is a trusted strategic guide for thousands of procurement leaders across the world. Get your complimentary copy today.

Your Digital Procurement Expertise Checklist

The average working day in procurement will change more in the next five years than it has in the last 50. Are you prepared for digital procurement?

This checklist will help you identify your strengths and weaknesses and find the right way to start a digital transformation of procurement. 

Desmond Williams, Digital Marketing Coordinator

This Month at SIG – January 2021

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

Happy New Year! We kick 2021 off with sustainable procurement for executives and training resources that will elevate your team to excellence for the New Year.


Sustainable Procurement Strategies for 2021

Executives are invited to attend SIG’s next CPO & Executive Virtual Series on January 13 for open-mic discussions on sustainable procurement, enabling growth through partnership and innovation, and how to nurture talent and culture.

Jumpstart Your 2021 Strategy

Sourcing and procurement professionals learned a lot in 2020: The importance of making supply chains and operations nimbler, how to digitize your processes and mitigating unforeseen risk were all key lessons. Get a jumpstart to your 2021 with a SIG University certification.

Delivered entirely online, a certification can be completed in five, six, 10 or 12 weeks depending on the area of study. Programs start in January and February. Prefer to go at your own pace? Inquire about the new self-paced option.

New Contributors Wanted

Future of Sourcing, SIG’s flagship digital publication, is looking for new contributors. Once you've reviewed the editorial calendar and the contributor guidelines, reach out to pitch us an article. You have the choice to submit articles on a regular cadence or you can submit whenever you feel inspired. Contributors are encouraged to subscribe to Future of Sourcing's email newsletter, which is delivered to readers twice a month.

Desmond Williams, Digital Marketing Coordinator

For Better or Worse, It’s Been a Year to Remember

To be able to see where you’re headed, you’ve got to look back at where you’ve been.

To be able to see where you’re headed, you’ve got to look back at where you’ve been. 


I just looked back at my December 2019 blog post and I was spot on, but for all the wrong reasons. I predicted that we would continue to elevate the role of strategic sourcing, broader adoption of technology, and a focus on upskilling sourcing and procurement teams.

I did not predict that a global pandemic would make the world talk about “supply chains,” albeit with a focus on toilet paper, Clorox wipes and a shortage of personal protective equipment. People came to realize that strategic sourcing professionals were the heroes who protected their sources of supply or quickly adapted to secure new sources.

While the pandemic continues to rule our lives in one way or another, we still see shortages on components for home gym equipment, bicycles and even casters for home office chairs. So, while some supply chains still have issues, many industries are experiencing a boom year and outpacing sales over any year in the past.

Looking back at the news of this year, many of us vaguely remember the Australian bushfires, and I distinctly remember racing go karts when news broke that Kobe Bryant died. I know some people were distracted by Prince Harry and Meghan Markle walking away from the royal life and Parasite swept the Oscars. This was all immediately non-news and forgotten quickly when the pandemic became a reality. (Personally, I am glad of one “trend” that did not last through the pandemic, which was padded shoulders and puffy sleeves.)

Dawn Tiura, President and CEO, SIG

The Top Webinars of 2020

a round-up of the top webinars of the year

2020 was a great year for thought leadership sharing as everyone suddenly experienced the same issues all at once. Many of the innovations and trends we saw emerge will continue to be essential as we move to 2021. To keep you informed, we bring you a round-up of the top webinars of the year!


5 Procure-to-Pay Trends to Watch in 2020

With the new year upon us, it’s the perfect time to take a look at look at the future of procure-to-pay (P2P).

 

The State of Procurement’s Value Measurement: Evolution and Best Practices

Today, successful value measurement in procurement requires understanding the mindset of stakeholders and leveraging the trove of procurement data that's available.

 

The Future of Procurement Technology

Industry-leading procurement technology has one job: providing a robust yet easy-to-use system for transforming needed goods and services into value for a company so that it can excel at its own business.

 

Coronavirus Town Hall - Leveraging the Power of Procurement to Address COVID-19

Leaders in the business and nonprofit space share how organizations can -- and should -- bridge the gap between businesses and beneficiaries for the wellbeing of the world.

 

Desmond Williams, Digital Marketing Coordinator

Top 10 SIG Speaks Blogs of 2020

To wrap up 2020, we highlight the top 10 blogs of the year.

To wrap up 2020, we highlight the top 10  SIG Speaks blogs of the year. From sustainable sourcing to mastering the art of negotiation, this year has been filled with thought leadership to help weather the COVID-19 pandemic.


The Guide to Understanding Category Management

By drilling down on spend categories, procurement can become established as a trusted advisor to the business. Check out our guide for a category management template to build your business case.

20 Questions About Life Post-COVID-19

SIG CEO & President Dawn Tiura discusses the future that lies ahead post-COVID-19.

Sustainable Sourcing 101

This guide provides a basic overview on sustainable sourcing, including links to resources.

7 Sourcing Business Models to Improve Sourcing Effectiveness

This article outlines seven sourcing business models that organizations should consider to improve their sourcing effectiveness and get the best results from supplier relationships.

Measurable Success: 7 New KPIs to Optimize Your Procurement Pipeline

This article outlines seven sourcing business models that organizations should consider to improve their sourcing effectiveness and get the best results from supplier relationships.

Desmond Williams, Digital Marketing Coordinator

This Month at SIG – December 2020

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

To close out 2020, we bring you the resources to elevate to excellence for the new year.


Elevating to Excellence - People and the Business

There’s still time to register for our upcoming digital SIGnature Event on December 9. The theme for the event is People and the Business. Senior-level and above delegates will participate in an executive roundtable hosted by SAP Fieldglass to discuss managing labor spending.

Meanwhile, teams will take part in a deep-dive training session with Western Michigan University Professor Sime Curkovic and William Crane, CEO of IndustryStar, on sourcing’s critical role in accelerating innovation.

 

CPO & Executive Virtual Series

Two buy-side executive peers will open the day sharing experiences of lessons learned or stories of success. This will be followed by an interactive discussion on VUCA, an acronym that originated at the U.S. Army War College to describe the perceived state of the world at the end of the Cold War — Volatile, Uncertain, Complex and Ambiguous. Let’s come together to talk about the best technology strategies for procurement and supply chain leaders to bring to bear against VUCA as we look to 2021.

This interactive digital event will be in an open-mic, collaborative format for a personal and targeted discussion. The entire meeting will last for two hours, beginning at 2:00 pm ET.

Desmond Williams, Digital Marketing Coordinator

This Month at SIG – November 2020

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

After wrapping up the 59th Global Executive Summit, we are excited to bring you even more resources and connect you with a network of people to help you be your best.  


Summit Resources On-Demand

Following each Summit, we publish an anthology that provides a snapshot of every Summit presentation and also includes speakers’ contact information if you’d like to follow up with them. The 2020 Global Executive Summit hosted over 40 keynote and breakout sessions.

This is a great resource for an overview of the content to share with your team members who were not able to attend and to demonstrate key takeaways and ROI to your executive team. This is a benefit of membership, so if you’re not a member inquire today!

Finish the Year Strong

As we near the end of 2020, one lesson is clear: Sourcing and procurement teams equipped with advanced skills, technologies and best practices not only weathered supply chain disruptions but were able to pivot and innovate.

As we enter 2021, the rehiring wave will focus on procurement professionals with modern and diverse skillsets based on today’s best practices. Understanding the current business landscape will be essential to secure your future.

SIG University is enrolling for programs that start in January and February. The free curriculum guide will provide you with detailed information on all four programs, including strategic sourcing, supplier management, third-party risk management and intelligent process automation. Prefer to go at your own pace? Inquire about the new self-paced option.

Stacy Mendoza, Senior Marketing Manager

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