Open to all delegates. More information at: http://www.sig.org/working-councils
Do you find yourself in the following scenario? You have won over the stakeholders in the business unit and have begun to think the hard part is done. But as you sit down to collaborate on gathering requirements and writing an effective statement of work (SOW) in addition to the governance terms, you begin to feel pressure. What if the contract fails? You know the stakeholderswill blame you, your CPO will lose faith in you, the contract administrator will have no idea how to properly govern the supplier's performance and you probably won't get a second chance with the business unit again - not to mention the legal ramifications. Don't you wish there were a set of guidelines to help you determine if the requirements are good enough for the supplier to perform well and meet your company's objectives? Well, look no further...in this workshop, Lawrence Kane, a Boeing-designated IT Sourcing expert, will conduct a hands-on, detailed session in writing a statement of work. Attend this session to learn how you can avoid the estimated 17-40% value leakage that can occur as a result of poorly written SOWs and governance terms. Attendees will be encouraged to share their experiences and will be asked to put principles into practice by completing real-world exercises.
You will learn:
- Proven practices that drive first time quality
- How poorly written SOWs and SLAs can lead to unnecessary expenses, risk and change
- How to avoid over- or under-engineered solutions that can degrade your value proposition
- How unresolved disputes harm the buyer-supplier relationship
- How a well-written SOW can be bullet-proof in litigation circumstances
- How to align an SOW to the resulting contract
- How to train others in your organization and your business units to write SOWs
This session is imperative for any sourcing professional involved in high-spend, risky RFPs. Attendees of this session will earn a Certificate of Completion in Statement of Work: Principles and Practices from SIG University. Attendees will also receive a copy of the slide deck, which includes such valuable information as common SLA examples, common pricing models and contract types, SOW elements by contract type and so much more! Attendance is first-come, first-serve, with limited spots available. Preference will be given to sourcing professionals from buy-side companies.
Very few organizations have procurement professionals as part of the decision-making process during the implementation of Digital Transformation. While it is expected that initial experiments run directly under the supervision of senior business executives, as the transformation matures and scales it could certainly benefit from the experience of the procurement professionals. In this session, we will share ideas and strategies to help procurement professionals collaborate with their business counterparts. We will demonstrate, through real world examples, how they can bring value to this critically important transformation process.
- Which deciding factors are driving Digital Transformation sourcing
- What the main characteristics are of a mature digital process
- How Procurement can add value in the decision process
- Ideas to engage your business counterparts
Attendees will come away from the session energized by the passion, vision, and enthusiasm that comes from seeing how a global chemical company benchmarked its Technical Procurement organization against peers and world-class companies and used it to create a strategic advantage. In this session, we will share how Nova Chemicals used a fact-based approach to build its roadmap and, more importantly, execute a series of fast-paced initiatives focused on delivering five core capabilities: category management, contract management, procurement management, procurement operations and procurement development. In doing so, Nova quickly established a global Technical Procurement organization that embodied five critical attributes: (integrated, flexible, scalable, stakeholder-centric, and technology-driven) which allowed them to effectively acquire additional capacity over the course of the year, ultimately adding 50% to their overall manufacturing capacity.
- How to use benchmarks to build a procurement roadmap
- How to use strategic initiatives to build procurement competencies
- How to institutionalize critical organization attributes to enable growth
- How to effectively integrate an acquired Sourcing and Procurement team
We all know how to deliver cost savings; in most cases, getting it requires leveraging our spend or pushing for some process improvement, which often erodes our suppliers' margins. The more mature the relationship, the more such strategies result in diminishing marginal returns. As the business challenges us now to deliver "value beyond cost-savings," many are asking whether that's even a real thing, and if it is, where and how to find it? In this session, Vantage Partners will share a systematic approach to finding or creating that additional value, in a way that is repeatable and sustainable, and some skills and methods to assist in the effort.
- The principal sources and types of "value beyond cost savings"
- Useful techniques for exploring such opportunities
- Stakeholder challenges to realizing added value
- Useful techniques to help overcome those challenges
Today the CMO rivals IT and Operations in terms of technology and operational spend. In some industries, the marketing spend can be 25% of revenue or more. Even with such a high cost profile, marketing has largely escaped the Source-to-Pay (S2P) efforts. That is changing. Partnering with marketing to help control marketing spend can lead to significant cost avoidance or reduction. However, engaging with marketing, analyzing the marketing spend, and getting your arms around it requires understanding the marketing function. This session will be presented by a marketer who has embraced and rejected sourcing assistance. This workshop will discuss what marketing does, how it works, the spend categories where sourcing help is welcomed or not and the assistance marketing needs from sourcing.
- The marketing process and its cost categories
- The CMO agenda, challenges and trends
- How the rise of digital marketing is changing the marketing cost structure and categories
- Strategies for partnering with marketing to align sourcing with marketing efforts
- The marketing methods, and techniques you can use to market your S2P services and achieve your strategic sourcing objectives
Digitization is impacting the supply chain in extraordinary ways. Are you ready? Baker McKenzie will present the results of its' survey on the global impact that Digitization has had on the supply chain contracting process, from requirements gathering through vendor qualification, selection, negotiation and enforcement. Based on your answers to questions regarding the impact that emerging technologies such as cloud, machine learning, internet of things and data analytics have had on supply chain contracting, we will explore how enterprises are using these technologies for innovation and will consider the legal issues they raise. How does your organization measure up against the competition? What are companies like yours actually doing with these technologies and what is still on the horizon? Join this session to find out.
- How digitization is impacting contracting processes
- How comparable enterprises are using emerging technologies
- The key legal issues to consider with respect to such technologies
- The differences to consider from a global perspective
Third party oversight has been elevated to a board-level issue in many companies, requiring them to review sourcing strategy. This begins with a board-approved Outsourcing Strategy Framework, since the business strategy of any successful company must drive the sourcing strategy. As industries and nuances differ, one size does not fit all; therefore divisions must develop their sourcing and risk appetites alongside the board-approved framework. An optimal governance framework is one that aligns with business objectives, is top-down and clearly defines regulatory and audit requirements, while also having bottom-up adherence, exception, escalation and remediation reporting included. In order to help you develop the best framework for your company, this session will outline best practices in developing a C-level framework. It will also provide guidance on developing, implementing and integrating risk and control assessments into the sourcing lifecycle.
- How to develop the risk framework and divisional programs
- How to implement first-line and second-line risk controls
- How to leverage data and analytics to derive objective and actionable insights
In a 2016 Oliver Wyman/SIG benchmarking study about data quality, 60% of the organizations surveyed self-reported that they were bad at managing small data. Contributing factors to this issue included mergers and acquisitions or decentralized structures, which inhibit data transparency and prevent companies from using levers like data bundling to improve purchasing output. Using case studies, we will demonstrate a reliable way to produce clear, accurate and dependable data as a basis for making strategic decisions, and will specifically explain the algorithms and rules-based approach (with no fuzzy logic) to clean more than 99% of data.
- Why most organizations struggle in small data quality
- About potential solutions for producing reliable and clean data
- Why it is more important to clean "Small Data" before tackling the issue of "Big Data"
In today's competitive talent market many organizations are looking for a solution to safely and cost-effectively engage their extended contingent workforce beyond the traditional staffing agency supply chain. This case study and panel discussion will be focused on how to deploy an enterprise-wide direct sourcing strategy centered around a talent community that includes both public and private talent clouds. The resulting talent community includes known contractors, alumni, retirees and "silver medalists." It also includes an extended network of talent suppliers such as public/private/subscribed talent clouds and small service providers wrapped in a compliant management and engagement layer, and operating within the existing contingent workforce managed program.
- Why the independent workforce is a vital component of the overall workforce, and an important component of your contingent workforce supply chain
- How direct sourcing is a fundamental enabling strategy for companies that want to win the war for talent
- How building your own talent community, which includes small service providers and talent cloud suppliers, is vital to success
- How to mitigate extended workforce supply chain risk and complexity by wrapping your program with a consistent compliance and engagement solution
You heard about Sourcing Business Model theory. You may have even take a SIG University course. But what are you DOING to implement it? This session provides the perfect blend of theory and practice by starting explaining the why and what of Sourcing Business Model theory. GuideWell will then share how they operationalized the theory into practice through simple changes in their processes and technology solution. The session ends with lessons learned and tips you can use to help you get started applying Sourcing Business Model theory.
You will learn:
- Why sourcing professional needs to challenge conventional approaches for buying goods and services
- The theory behind sourcing business model
- How GuideWell applied sourcing business model theory in practice
- A practical example of technology solution to support a sourcing business model approach
- Lessons learned
While it is clear that there is a shift toward automation and digital business solutions, the truth of the matter is that many organizations are still dealing with legacy operating systems and contracts. If your perception of relationship management with your suppliers involves getting together periodically for dinner or coffee, you are not realizing the full value of your sourcing contracts. By transforming the way you look at governance with your suppliers, governance can enable greater value realization and transformation than many realize. By optimizing the efficiency of day-to-day operations, business leaders free themselves to get on to the greater, transformative conversations. This session will address governance services trends, strategies and examples of what is being done by leading organizations.
- How to understand the latest trends in governance
- How to maximize sourcing value realization, optimize services governance, reduce total cost of vendor governance, and leverage the vendor governance function as a strategic partner to the business through Managed Governance Services
- From examples/success stores from organizations who have implemented these strategies
Robotic Process Automation (RPA) is rapidly becoming the rage in sourcing circles and beyond. With touted benefits such as cost savings and operational efficiencies, it is easy to get excited about the potential of such transformative technology. Without careful planning, however, you could fall victim to a few common RPA pitfalls, which could mean the difference between RPA success and RPA failure. This session will help cut through the hype surrounding RPA and get to essential best practices anyone considering implementation should know to drive successful outcomes throughout all stages of the digital transformation journey. They will also discuss the critical component of considering a Center of Excellence. Honda North America will share a practitioner perspective on how to assess tools and partners, including their own experience and benefits relative to applying RPA to a procurement buying process.
- What RPA is and what it is not
- The benefits you can expect
- Guidance for each phase in the process
- How to assess tools and partners
- When to consider a Center of Excellence
Starting with the user in mind, Microsoft is automating and improving the procurement experience - delighting internal customers and providing greater agility to the business. In this session, the presenters will discuss how they are leveraging new tools and technologies, including robotic process automation, machine learning and machine intelligence to predictively and proactively support procurement customers. The goal: to know what procurement customers need to do before they need to do it - and use that knowledge to engage early and achieve the best possible procurement outcome for the business.
- About Microsoft Procurement and our simplification journey
- How Microsoft thinks about digital transformation
Artificial Intelligence is becoming a ubiquitous term in the business world. Almost everywhere you turn, you read about new developments and how they impact the sourcing world. In this session, our thought leaders will present the latest thinking on how to empower your teams with previously untapped data by leveraging innovative natural language processing and machine learning capabilities.
- A modern approach to mitigate risk through Business Intelligence (BI) for Services Procurement spend
- Insights into how to deliver transformational data intelligence for Services Procurement across the globe for your business
- Best practices in how to use data and analytics to optimize your external workforce across all talent sources to get work done
Traditional outsourcing approaches replace employee labor with supplier labor, often offshore. Increasingly, however, suppliers are able to automate work using robotic process automation (RPA) and artificial intelligence (AI). These technologies result in dramatic changes to the cost model, and require all suppliers to produce and control new and highly valuable streams of big data. Traditional outsourcing contracts lack the protections that customers need with these new technologies, creating new risks even in existing contracts. However, customers have tremendous opportunities to use supplier tools to reduce cost, optimize performance and provide a wealth of new and valuable big data insights. This presentation will describe how to reduce those risks and capture those benefits.
- Why AI, RPA and big data are game changers for outsourcing
- What to ask for from outsourcing suppliers now
- How to identify and negotiate the new legal and contracting issues
- How to restructure, retrofit, re-price and renegotiate existing outsourcing arrangements for RPA, AI and big data
For most companies the traditional procurement model is no longer sufficient, and operating with those tenets will not bring optimal results. The non-employee labor industry is changing, dramatically impacted by technology and the evolving labor pool where younger workers with a different outlook are replacing baby boomers. Market insights based on statistics and demographics bolster the need for businesses to adopt new approaches like SOW management and talent clouds. In this session, sourcing and procurement professionals will learn about the newest advancements in solutions technology that can enable your company to create a high-quality, stable, non-employee workforce.
- How the non-employee industry is changing
- How companies are losing out if they remain status quo
- Why top talent is more difficult to find and retain
- What solutions are available to help your company propel itself to success
"The process of contract approval is my favorite part of the job," said no one...ever. This session will trace a contract through the past, present and future of contract processing, focusing on current-state opportunities and pitfalls with an eye toward technologies on the horizon that will continue to transform the industry. After this session, attendees should have a detailed understand of the opportunities to use technology to automate and improve business processes, making their people far more effective.
- Pitfalls and solutions for contract processing automation
- Recipes for optimization you can execute quickly
- Breakthroughs that allow non-technical users to automate workflow
- Perspective on emerging technologies including Artificial Intelligence, Blockchain and Predictive Analytics
Designed for those seeking new ways to further reduce the costs and risks of their continent workforce program, this session will cover how organizations can better leverage their own brand to attract the right talent at a lower cost. An approach already popular in Europe and Asia, attendees will learn how Contingent Recruitment Program Outsourcing (cRPO) will enable them to:
1. Attract and engage the best talent, quicker
2. Reduce the total cost of engaging contingent workers
3. Avoid potential costly collateral damage by controlling your brand
In this session, we will cover the pros, cons and how to get started.
- What Contingent Recruitment Program Outsourcing (cRPO) and direct sourcing are
- The cost savings to be realized
- How to implement direct sourcing into your program
Procurement leaders have for too long struggled to get heard within the business, too often viewed as roadblocks or bureaucratic. While delivering savings and standardization to the business is an important part, there is much more that procurement can offer to generate strategic value. We believe procurement is a new platform for change and innovation.
The speed of change is quickly distinguishing the leaders from the followers, whether it is a process, a new technology or a new product the ability to change fast is critical and procurement plays an important role. Additionally, there is no single company with as much innovation capacity as all its suppliers combined and procurement is the gatekeeper to this invaluable resource.
Join entrepreneur Christian Lanng as he shares his vision for procurement.
Sustainable procurement is no longer a nice-to-have, it is a vital business function for protecting the company's reputation, mitigating risks and selecting the supply base that will endure for the future of the business. But monitoring environmental, ethical and social/labor practices (the practice commonly known as "Corporate Social Responsibility" or CSR) of suppliers spread across the globe poses a big challenge. Unfortunately, auditing processes usually are not very scalable. This session will showcase a best practice example of how procurement executives can get a supply program off the ground to ensure that their company's supply network is secure, sustainable and competitive.
- Key drivers and challenges of sustainable procurement
- How to drive adoption and implement change - for buyers and suppliers
- How to select tools for CSR monitoring
- How to engage suppliers to drive lasting changes
According to most estimates, Statement of Work-based services are the largest part of many companies extended workforce, yet these services often fall outside their Contingent Workforce (CWM) program. Now all that is changing. Companies that move Services Procurement (also referred to as SOW) spend into their CWM program are seeing a variety of benefits, including better control, regulatory compliance, workforce optimization and more. In this session, two leading companies will show how they successfully incorporated Services Procurement into their Contingent Workforce programs and the value they have received for doing so.
- Why SOW-based projects belong in a CWM program
- Which aspects of Services Procurement management are most vital
- How a VMS can simplify Services Procurement management
- How to get started with project management now, and add SOW negotiation and competitive bidding later
- How to build the best business case for Services Procurement management
Supplier Relationship Management (SRM) has been a hot topic for some years now, but technology is changing supplier management just as it is other areas of the procurement lifecycle. Even world class Supply Management organizations have to do something more to maintain their year-over-year contributions to the bottom line with the perfect Procurement storm of high demand, low supply and high market volatility brewing off of the coast. In this session, we will look at the latest thinking in the area of supplier management - not just the SRM around the most critical suppliers, but the wider picture. When we think about how we can achieve competitive advantage in our organizations, it is clear that suppliers must be at the heart of the matter.
- How an average Supply Management organization begins
- Why procurement organizations need real-time visibility into every interaction across their entire company
- How to confidently mitigate risk and improve compliance throughout the complete strategic procurement process
- What a "360 degree view" looks like for proactively monitoring every supplier relationship
As Baby Boomers resume their workforce exodus and Millennials continue to grow as the nation's largest generation, workforce trends and the shifting talent pool have significant implications for Procurement. In this session, ProcureAbility will share insights from their latest thought-provoking benchmarking study. They will look at trends, forecasts and best practices that leading procurement organizations are using to thrive in this new era of talent.
- About hybrid organizational models and building a culture with virtual employees
- How to apply crowdsourcing to the Procurement function
- About automation and AI and their role in the organization of the future
- How to manage knowledge and measure success
The traditional paradigm of a Contingent Labor Managed Service Provider program is that it is a fully outsourced solution. But what if an organization wants to retain management control? How could they engineer and then self-manage a solution that delivers an equivalent level of visibility, control and good process practice? In this session attendees will hear a case study of how Citrix and KellyOCG successfully stood up an internally managed talent acquisition program and fully incorporated all external good practices, from need definition, to supplier engagement, to delivery to optimization.
- The planning considerations that underpin success
- The practical timetable for action
- The best way to ensure internal engagement
- The KPIs that matter most
SIG's Sourcing Resource Center (SRC) Thought Leaders Council is presenting the second in a series of presentations offering groundbreaking insight for members on Robotic Process Automation (RPA) and Artificial Intelligence (AI). In this part of the series, we will explore the sourcing process when these approaches are selected as a strategy. In this program, we will describe how to conduct explorations with the available providers and advisors and what can be learned from piloting the solutions before selection and roll-out. We will also describe how to move from pilot to contract. Delegates are invited to share their experiences in sourcing these technologies or in managing the providers who have implemented RPA or AI.
- Current market intelligence
- How best to approach these categories in the sourcing process
- How to position your company for successful adoption
- Critical and unique terms and conditions
- How to address stakeholder concerns
With geopolitical uncertainty, market and economic volatility, and an increasing focus on environmental and security risks (physical and cyber), a traditional approach to strategy, decision-making and operations is not sufficient. Executives in all leadership areas, especially procurement, must also focus on flexibility, diversification, resilience and finding real-time metrics so they can act and adapt quickly. In this session, Accenture and JLL will share their recent Technology Vision and Future of Work models, an agile and adaptable strategy platform for achieving ambitions in an ever-evolving business environment. The presenters will decode the interconnected dimensions of the respective platforms and related research and how they apply to fundamental strategic long term business planning.
- Five "Future of Work" Dimensions: Digital Drive, Continuous Innovation, Operational Excellence, Financial Performance and Human Experience
- Case study examples of change management on a reactive, active or proactive scale
- Blueprints for connecting these activities into overall corporate strategic planning
While contract compliance audits are an effective tool to mitigate financial losses, there are multiple benefits beyond recoveries of past overcharges, including increased transparency/accountability, enhanced processes, improved communication and stronger contract language. In order to fully maximize these benefits, it is critical to achieve organizational alignment among all the appropriate stakeholders, including those outside of procurement and the business. Attendees will gain insights on the true value of a contract compliance program, actions to take to promote organizational alignment and essential components of successful, sustainable projects.
- The value and benefits of an audit program beyond cost savings
- Why transparency, trust, and teamwork are essential components of a successful, sustainable compliance strategy
- Key takeaways on achieving organizational alignment and the stakeholders required to optimize a contract compliance audit program
More and more, the success of an organization is dependent on their ability to acquire the right worker at the right time and at the right price. But the paths to finding those individuals has changed dramatically in the last few years and organizations often find themselves with unfamiliar and unintegrated applications. Traditional approaches to talent acquisition can overlook available talent pools. Today's talent acquisition and management requires a combination of different sourcing, visualization, management and analytics tools. The question is: What tools do you need to meet the sourcing and workforce management requirements of your organization and how can you ensure that they all work together? This discussion will focus on the various software tools that comprise the talent acquisition and management ecosystem along with the information you need to determine which tool is right for you.
- About Total Talent
- About Talent Pools
- The types of contingent labor
- Different sourcing avenues
- How to build your own Total Talent ecosystem
The European General Data Protection Regulation (GDPR) goes into effect on May 25, 2018 and covers U.S. companies in many instances. There is no ramp-up period and compliance is required on day one. A critical component of GDPR is establishing a meaningful vendor contracting and compliance process. GDPR is a game-changer for vendor compliance and penalties are substantial-up to 4% of a violating company's total global annual turnover or Û20 million, whichever is higher. Sourcing, compliance and legal professionals accountable for vendor management must understand and take action on GDPR. Although it is complex, GDPR compliance is possible with a focus on practical, risk-based, action-driven solutions. This session will outline GDPR requirements and the tools needed to comply.
- How to determine whether GDPR applies to you and your vendors
- What GDPR requires for covered vendors, including vendor contracting, diligence and information security requirements
- How to risk-rate your vendors and use these ratings to prepare a practical approach to compliance
- The key elements of an Internal Action Plan for GDPR vendor compliance
Are you making the most of Artificial Intelligence (AI) and machine learning? AI techniques have become an essential part of technology and efficiency, but many companies are still behind the curve. Recent advancements in AI and machine learning have contributed to the growth of automation and both are changing the landscape of due diligence and the monitoring of third parties. In this session, you will be able to take a peek behind the curtain of automation and leave with some insights to help your organization embrace these technological advancements.
- How AI and machine learning are changing the landscape of due diligence and the monitoring of third parties
- How to maximize the efforts of existing resources
- How to use fuzzy algorithms to uncover blind spots
- How to incorporate machine learning to get to relevant results
- How to automate search criteria and allow technology to monitor entity risk
In today's fast-paced global environment - with automation everywhere and services available on-demand - some professionals are wondering if their futures are secure. With that in mind, WNS-Denali has brought together a panel of leading procurement experts to test and debate the following hot procurement "myths."
1. Robotic Process Automation (RPA) is the future of Procurement - in the future, all of our jobs will be done by robots!
2. Procurement's value can only be measured by the savings it generates and adds to the bottom-line.
3. Category Management is just another fancy name for Strategic Sourcing.
4. Stakeholder and supplier relationship management skills are the most important skill gap facing Procurement today.
5. Companies will invest in Supplier Management to achieve second generation savings and identify opportunities for innovation.
Hear our panelists tackle these myths and ask some of your own questions too.
- How many companies are really using RPA and which processes can truly be automated
- How procurement's value contribution can be measured across industries and if it is only savings-based
- If Category Management is for real or if it just another way to brand Strategic Sourcing
- Ways to grow procurement competences and overcome skill gaps
Learn how big data, cloud, and AI are converging to drive actionable insights and reduce supply chain risk. In an increasingly global world, the days of relying on your own data alone to shape your risk models are over. This session will focus on using your own data, 3rd party data, and peer insights to increase awareness of risk and control the impact. Both qualitative and quantitative data will be discussed in the context of supplier risk management.
Your key supplier relationship are more important than ever to your organization's success. That's why ensuring your suppliers are delivering maximum business value is a must. How can you be certain that your supplier relationships are healthy and hitting on all cylinders? Periodic check-ups. Join this session to hear how the National Bank of Canada performed supplier health checks to identify the strengths and weaknesses in their existing relationships. You'll also be exposed to real-time results from past health checks and understand how the vast amount of data/information obtained can easily be used to assess whether your relationships are good, bad or just plain ugly.
- Why your organization should care about performing a periodic health check on its sourcing relationships
- The key processes and tools available to perform health checks and how you can use them
- The types of data/information available from a health check and the likely impact with your supplier
- The best practices and key learnings available by performing health checks
In this session, attendees will receive an overview of a variety of analytical tools that can be used by a sourcing organization to manage suppliers, sourcing initiatives, teams and categories. We will focus on the output, allowing organizations to adopt these tools easily using their own data sources. The session will provide tools that can be used by Procurement leadership, and tools that can be used by ÒsourcerersÓ (category managers) to manage categories and suppliers.
- How to graphically depict opportunities, categories, supplier performance and more
- About tools category managers can use to manage suppliers and categories
- About tools that can be used by leadership to manage a sourcing team effectively
Catalog enablement, e-invoicing and supplier collaboration are common value levers you pursue in your S2P implementation, but is it really possible to achieve significant supplier adoption? Come hear real-life success stories of companies that have enabled all required catalogs and achieved over 80% e-invoicing in less than six months. This session will inspire you to see what is possible, and provide an authentic dialogue on the effort required to get there. We will hear from customers that have been successful for years, and others who have achieved more recent success.
Sourcing and procurement organizations are no longer tactical and reactive - and proper application of market intelligence can help transform a tactical team to a strategic team, or strengthen the results of your category-managed team. In this session, learn strategies for using market intelligence beyond price benchmarks and cost reductions to optimize supply chains, interpret regional and national nuances to products and services and anticipate changes in the industry. "Market intelligence" is commonly referred to in sourcing, procurement and category management, but is your team leveraging it?
- About cost benchmarks - what else is there?
- How to become a go-to consultant to your business partners
- A real-world example of applications in a sourcing initiative
- How to enhance requirements with market intelligence
Procurement transformation is a popular buzz-phrase these days. More and more organizations are looking to make a big step forward in procurement value delivery by radical reengineering of processes and operations. Software must be considered absolutely central to the transformation process. Technology no longer plays a supporting role in procurement and, thus, procurement transformation is digital transformation. In this session, we will look at the critical role software plays today and how a digital-first approach to procurement transformation is best practice. GEP will provide the theory and University of California will describe their journey to achieving next-generation procurement results by taking advantage of the power of new technology.
- How to examine the critical role that software plays in procurement today
- How the right approach to aligning people, process and software can facilitate transformation in value delivery
- Strategies for promoting procurement transformation through use of technology
- How to begin the transformation of procurement processes in your organization
Indirect spend offers a king-sized untapped opportunity for manufacturing and non-manufacturing companies to dramatically cut costs, reduce maverick spend, rationalize suppliers and streamline procurement processes. Procurement leaders who adopt holistic and innovative approaches to managing indirect spend can deliver up to 50% reduction on indirect spend to their business all while creating a competitive advantage. Further, procurement leaders can deliver value beyond savings by improving control, lowering risk, conserving cash, enabling agility and facilitating innovation.
- Innovative and holistic approaches to reduce indirect spend
- How to deliver value beyond savings for your organization
- How to sustain savings and value delivery over the long term
Direct and indirect procurement can cost an enterprise billions of dollars in annual spend. Poor contractual compliance, ambiguous SOWs, duplicity of resources, poor specifications of services and last minute contract negotiations can often lead to challenges in vendor management and service level enforcements as well. This frequently leads to frustrating negotiation cycles, poor alignment of deliverables with specifications causing delayed milestones, or worse - failed projects. Fortunately, recent advancements in the field of AI and machine learning have now made it possible for automated bots to scan massive amounts of information from documents, contracts, SOWs, PDF files, project plans and more, and extract nuggets of highly valuable content that can be analyzed to address these challenges. During this session, the presenters will share how they partnered to build an AI-based project automation tool (bot) that reads tables from within SOWs to extract rate cards with market rates to identify projects that could have contracted at lower rates with more targeted resources. With these self-learning bots, it is now possible to ensure compliance of SOWs with deliverables, timeliness and consistencies in project roles and titles; improve obligation management; and increase contract compliance leading to significant cost savings and successful project delivery.
- Some of the most attractive areas for AI/cognitive computing use in procurement processes
- How you can improve contract performance and compliance using automated bots
- How to improve project management and delivery timelines through integrated views across statements of work, project plans and resource cost spreadsheets
- How to reduce cost and improve resource effectiveness through improved time and material best rates
Despite rumors that the new U.S. Presidential Administration is relaxing the Dodd-Frank Regulations, some local and state regulators, like the Department of Financial Services (DFS) in the state of New York are lined up to pick up where the Feds leave off. The DFS of NY not only continues their commitment to regulate third party management in financial services, but also is focused on the information security risk of third parties. To manage all third party risk begins with an enterprise-wide third party risk management program. Join Westfield Insurance and Opus as they discuss Westfield's business need and regulatory obligation to consistently assess and manage the risk and performance of vendor relationships.
- Which relationships need to be included in your program
- How to redesign your program to satisfy the regulators
- About the changes Westfield implemented and how they have been received
At nine months into the new Administration, we are checking in with Dentons Principals Darry Sragow and John Russell to discuss important decisions facing companies and to learn their take on pending and proposed policies. One year ago, we watched the final U.S. Presidential election debate between candidates Hillary Clinton and Donald Trump at the Fall Summit.
Now that the election, inauguration and many months have passed, it is time to check in with our experts and ask them to illustrate (debate) how the Republican and Democratic agendas are progressing. Following these insights, Dawn Tiura, SIG CEO and President, will open the debate to domestic and international topics such as the U.S.-Mexican Border Wall, H1B Visas, Health Care, the new budget, tax laws, NAFTA, the Paris Climate Accord, the Russia election meddling investigation and G20 relationships. We will consider how the era of nationalism may impact U.S. and Foreign economies and U.S. offshoring practices. We will discuss if and how robotics impedes manufacturing job creation. Our experts will be asked to weigh in on how the declining rate of U.S. graduates in STEAM programs may impact our ability to compete globally. In addition, we will discuss the impact on the 2018 elections and how the power in the House and Senate may be shifting.
Mr. Sragow and Mr. Russell are current advisors to lawmakers and politicians. This is a unique opportunity for you to hear their timely and informed insights. Prior to the Summit, we recommend you subscribe to their ÒWashington on One PageÓ bi-weekly update on all things DC so you too can get your questions inserted into the session.
No network has perfect security. What often makes the difference between a minor low-cost incident and an expensive crisis is how prepared an organization is to deal with the aftermath of a breach. In this session, the presenter will cover why having contracts in place before an incident occurs reduces the impact of a breach. You will learn what to look for when trying to choose a vendor that can support your organization in its time of need. We will also share common types of incidents and how response teams handle them to help you understand how to react to the risks organizations face.
- The importance of having a contract in place before a cyber incident occurs
- What to look for in a cyber incident response company
- Different types of cyber attacks and how to respond
- The importance of threat intelligence in dealing with incidents
According to John Naisbitt, author of Megatrends: Ten New Directions Transforming Our Lives, "We have for the first time an economy based on a key resource (Information) that is not only renewable, but self-generating. Running out of it is not a problem, but drowning in it is." Every business is looking to gain insights from their data as a source of competitive advantage, but turning Big Data into actionable insights requires a new approach - one that condenses data from multiple sources while reducing uncertainty through context. Join this session to learn how a cognitive system can address these challenges.
- That the challenge of understanding Big Data resides in its inherent uncertainty
- That unlike programmable systems, cognitive systems mimic how human beings think
- How a cognitive system can provide unprecedented levels of insight into vast bodies of information
- How understanding Big Data requires a holistic approach which includes people and processes
The future of procurement will look very different than what we see today. In a world where the majority of tasks we do are semi or fully automated, CPO's must shift their value proposition to remain relevant. But that new value proposition requires new job roles and skill sets, most of which will be heavily in demand in an already constrained labor market. In this session, we will explore what "talent" really is, how we can differentiate between hiring for a job vs. accessing expertise, and ways in which CPO's can access the expertise they need, when they need it.
- What does the expanded procurement value proposition look like?
- How may this change the procurement job roles of the future and their associated skill sets?
- What impact could this have on procurement organizational design?
- Where can you find the talent that you need to execute and deliver on an expanded value proposition?
The University of Vermont Health Network engaged with a technology and negotiation company to develop a mobile device application for physicians to view comparable cardiac rhythm management (CRM) device costs and features. Physicians also reviewed weekly scorecards tracking their device utilization, and selected their products to be used in advance of the case, minimizing pressure from the vendor to bias selection at the time of implant. The tool drove utilization savings because physicians further informed their device selection by seeing and better understanding the pricing deltas among suppliers, product features and technology.
- How to implement a successful cost reduction and strategic supplier management strategy by using a mobile device application tool to drive utilization savings
- How to associate business unit end users with supply chain administrators so that users make value-based product selections
Have you ever wondered what grade you might receive on a solicitation document, or how good they really are? If you have ever struggled in creating more effective RFP solicitations you will want to attend this session. The Los Angeles Department of Water and Power (DWP) has undergone efforts to streamline, simplify and maximize their solicitation documents. Live the journey, from past, present and future, and learn how they used a solicitation 'report card' to measure the effectiveness of their documents. Understand the critical elements that they have incorporated to improve the effectiveness and efficiency of the procurement process. If you are involved with issuing solicitations or seeking innovative ideas to continuously improve your solicitation structure, this session is for you!
- The art of developing a great RFP
- How to assess your solicitation with an "RFP Report Card"
- How to identify low hanging fruit for any solicitation
- The importance and role of current conditions in the RFP
TBAYou may not want to dedicate the time to reviewing and revising your disaster recovery plan to cover every contingency. Most people don't. However, survival could be the reward for proper planning and training in the rare event a catastrophic situation overtakes your company.
The common element in a hurricane or earthquake could be loss of power. Communication and IT services are most at risk. However there are other threats to these systems.
Disruptions to business are quite often of the cyber type. Today we all depend on electronic-based services to conduct daily business. A recent study found that 43% of cyber-attacks are aimed at small businesses. That study showed that 60% of those businesses ceased to exist within 6 months of that attack. How much does your business depend on other companies?
In this session, you will hear real-life experience that will aide you in preparing for good outcomes in difficult situations.