As we head into the fall of 2021, we prepare for procurement 3.0 with a host of exciting resources, industry research and webinars to elevate you in your role.
September CPO & Executive Virtual Series
SIG's CPO & Executive Virtual Series is an opportunity for the most senior procurement executives to gather with their peers in an interactive virtual environment to discuss their most pressing issues. On September 15, Nitin Khorana, Vice President from Icertis, will explore maximizing supply chain potential with contract intelligence, followed by topic-based discussions on digitalization within procurement and sourcing.
Join us for this executive-level conversation with actionable takeaways.
How to Align Procurement with Third-Party Risk for Successful Vendor Management
One of the biggest challenges that procurement teams face is aligning risk objectives with the rest of the organization. In fact, most companies struggle with ensuring that their risk management processes aren’t perceived internally as a roadblock, slowing down procurement and innovation.
In this webinar, Bryan Littlefair, CEO of Cambridge Cyber Advisers and past Global CISO of Vodafone Group and Aviva, will share his experience designing third-party risk management programs that align with procurement.
As demand continues to rock supply chains, we prepare for the future of procurement and risk mitigation with a host of exciting resources, industry research and webinars to elevate you in your role.
August Microlearning by SIG University: Contracting and A Holistic Approach to Risk Management
On August 4, University of Tennessee Faculty, Graduate and Executive Professor Kate Vitasek, and CEO of Commercial Officers Group, Jim Bergman, will explore key concepts around contracting in the new economy. That session will be followed by SIG Hall of Famer and Faculty Member, Lawrence Kane who will join negotiation expert and commercial contracting coach, Jeanette Nyden for a deep-dive discussion on a holistic approach to risk management.
Join your sourcing, procurement, and risk management colleagues in this two-hour interactive virtual environment to be challenged with topics related to our industries!
Demystifying eAuctions – How to Source Smarter, Faster and Better
eAuctions are a great method for helping firms maintain speed to market in an economic environment riddled with scarcity, increased sourcing risk and complexity. The problem? Despite the many benefits that eAuctions offer, they are a grossly misunderstood and underutilized strategy.
In this webinar moderated by SIG, GEP’s Director, Marin Aravind and Senior Associate, Lavanya Krishnan, will demystify eAuctions and share best practices that enable procurement to function as a profit center by improving cost visibility, driving incremental savings, enhancing compliance and optimizing efficiency.
As we close out the first half of 2021, we prepare for the future of procurement with a host of exciting industry research and webinars to make your role easier.
July CPO & Executive Virtual Series
SIG's CPO & Executive Virtual Series is an opportunity for the most senior procurement executives to gather with their peers in an interactive virtual environment to discuss their most pressing issues. On July 21, A panel of experts from Everest Group will explore maximizing savings and innovation from IT and BPO Service Providers, followed by topic-based discussions on contracting models and cost savings in 2021.
Join us for this executive-level conversation with actionable takeaways.
As a 40-year Procurement leader, Steve Kesinger knows a thing or two about the daily struggles of procurement departments. The former Nordstrom Chief Procurement Officer and LogicSource Procurement Council member has hands-on experience managing large, complex teams responsible for managing over $2B+ in annual spend, resulting in a unique perspective on what Procurement teams need to succeed.
In this session, Steve will be joined by LogicSource Managing Partner, Sam Vail, and Sourcing Industry Group President and CEO, Dawn Tiura, to share the insights he has harvested from his decades of experience both as a CPO and also in his current advisory role helping early-stage technology companies build business models that will resonate with Fortune 1000 procurement leaders.
What is a simple definition of intelligent automation?
Canda Rozier: I think intelligent automation is a fully holistic approach for business transformation that lets companies start to analyze data, provide analytics on the data and deliver digital solutions to optimize business processes and tasks. I think one of the things that has really struck me as I've learned more about and become engaged with intelligent automation is that it's as important to understand what it's not as to understand what it is.
A lot of intelligent automation projects fail or don’t provide results – why?
Lawrence Kane: It's not a panacea, and it really needs to be implemented systemically because it's a program. It shouldn't be a one-off, because you have to look at your tools and processes and how the enterprise creates value and understand where are the places that you want to go and automate. Where are the places you want to stop doing things, where are the areas that you need to change doing something, right?
It is incredible how many companies are still using a basic RFP platform with minimal scope for optimization. Even the platform Excel has no capacity for optimization or sourcing processes to manage the sourcing of highly complex categories. None of these methods can deliver any substantial savings or ROI.
A simple and easy-to-use sourcing platform is all you would need – even if you are not a sourcing specialist – for a three-bids-and-a-buy sourcing project to source a single item. But if you have hundreds of suppliers and thousands of possible scenarios, a simple platform does not make the grade. As for trying to manage (and more importantly, analyze) complex sourcing events in Excel, that will require a full-time mathematical genius or a team of full-time employees for weeks or months on end trying to figure out the best outcomes.
To manage the sourcing of complex categories and create business value, you absolutely must use a solution that takes full advantage of the power of optimization complemented with artificial intelligence and game theory.
To be “complex” in the sense of the word here, a sourcing category needs to meet some combination of the following criteria:
Amy Fong is a Vice President in Everest Group's Strategic Outsourcing and Vendor Management practice. In this role, she advises enterprises on maximizing value from strategic provider relationships in outsourced services categories. She is a featured presenter at SIG’s upcoming virtual SIGnature Events taking place throughout the fall of 2020. Virtual SIGnature Events are free to all qualified buy-side practitioners and sell-side members.
What is your role and what are your day-to-day responsibilities?
I work with our procurement members to ensure they are getting the research and support they need to maximize value in outsourced services categories. We have 200 analysts focused on the outsourcing, global services and intelligent automation space. My role is to work across those content areas to bring it all together and ensure we’re helping procurement.
For instance, developing category strategy templates with the market intelligence we provide, facilitating briefings and peer discussions, and designing surveys that answer top of mind questions. I’m available to our members to answer their questions or guide them to the right expert analyst to dive deep into their challenges.
In the time of COVID-19, this also means helping procurement teams understand how service providers are reacting and what they can expect. Also, helping them identify cost takeout and risk reduction opportunities for the “next normal.”
SIG University Certified Intelligent Automation Professional (CIAP) Program graduate Mike Morsch has led an RPA and IA journey before. He discusses the steps a company must address to ensure a successful Intelligent Automation journey to produce the best long term and sustainable outcomes.
In the CIAP program, students gain knowledge of automation technologies, learn how to identify the correct opportunities to build, run and sustain a successful automation program, and will understand the true potential of IPA technologies when adopted correctly.
I found the CIAP certification training to be an excellent baseline for anybody looking to embark on an intelligent automation (IA) journey. Senior leaders looking to sponsor a program really need to think through how they can best start the program to ensure both leadership and associates understand the focus of the program. It is easy to get caught up in “cost savings” and getting fast and visible results to justify a program. While quick wins are always a good way to show the value of any initiative, the long term benefits available in taking a broader view will pay the most dividends on investment over time. In thinking about my own experience and the lessons learned in the CIAP program, I would suggest to anyone considering IA the following areas of focus to create the best program.