supply chain

Recap of CPO & Executive Virtual Series with Aarete

Supply Chain Diversity and Sustainability

Recently, SIG had the pleasure of hosting AArete experts Tyler Higgins, Gaurav Joshi and John Marchisin and Duane Elmore, Chief Procurement Officer at The Pennsylvania State University for the July CPO & Executive Virtual Series. It was a very engaging discussion that lasted nearly two hours with tons of excellent takeaways. Let’s get into it!

Adapting Your Supply Chain for Diversity and Sustainability

The team kicked off the day discussing what has driven the rise of corporate ESG priorities. There are seven areas that they highlighted to explain this increase:

  • Company Culture
  • Employee Engagement
  • Investor Activism
  • Policy & Regulation
  • Access to Capital
  • Financial Benefits
  • Consumer Demand 

These competing priorities oftentimes lead to many different approaches to accomplishing ESG initiatives. The Aarete team then walked through different approaches and experiences of ESG initiatives. They also shared successful diversity & sustainability programs. From Starbucks to The University of Penn, there are numerous ways to have success.

How to Transform the Buying Process 

Companies across all industries are setting ESG goals, and procurement leaders are at the forefront of executing those goals. Procurement leaders must balance these goals along with supply chain continuity during an inflationary environment. Having a ESG framework and a supplier diversity strategy is fundamental to transforming the buying process. Most organizations are challenged to find the right suppliers that can meet sustainability and supplier diversity goals. By incorporating KPIs for procurement, suppliers and adoption, you set the ESG goals up for long-term success.

Desmond Williams, Digital Marketing Manager

This Month at SIG – August 2022

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

As procurement leaders continue to navigate varying crises of 2022, we have a host of events and resources on deck to keep your team at the forefront of best practices!


August Microlearning Event

SIG's On May 18, TD Bank experts, Associate Vice President Michele Wesseling and Head of Cyber Controls Testing Neha Mudalgikar, as they explore cyber risk in today's constantly evolving landscape. 

Join your sourcing, procurement, and risk management colleagues in this two-hour interactive virtual environment to be challenged with topics related to our industries!

 
 

Global Executive Summit

Prepare yourself and your team for the future of sourcing at the SIG PGlobal Executive Summit October 17-19, 2022! 

Get ready for amazing keynote sessions, a chance to engage and learn from the brightest industry experts, speed networking, and experience live solution deep-dives from best-in-class providers. Registration is open now!

 

Western Regional SIGnature Event

SIG's Western Regional SIGnature event is almost here! The event will take place in Bellevue, WA and includes a fantastic agenda with some of the best thought leaders in the industry. The day will include an Executive Roundtable, General Session Speakers (offering training and practical, implementable tools), CPO Presentations, Analyst Overviews, SIG Talks and close with a networking happy hour.

Desmond Williams, Digital Marketing Manager

Reengineering Resilience: Why Supply Chain Resilience And Sustainability Is Finally More Than A Discussion

Supply Chain Resilience And Sustainability

Have you ever heard the old saying, "when everything is said and done, there is more said than done?"

How about “everyone talks about the weather, but no one does anything about it?”

The common theme through the above examples of observational wisdom is the suggestion that talking about something is not the same as doing something about it.

Based on experience, I would not be off base in suggesting that this same theme applies to the subject of supply chain resiliency. In other words, in the world of procurement and strategic sourcing, the importance of resilient supply chains has been a point of discussion for some time.

However, what the COVID-19 pandemic and today’s increasing geopolitical instability have taught us is that our fruitful discussions in the past did not necessarily translate into meaningful actions and outcomes today.

Didn’t See It Coming?

When considering the significant disruptions in our global supply chains over the past two years – the most recent involving baby formula, we must ask ourselves how we got here. Didn’t we see it coming?

Let's face it, before COVID-19, how many of us would have predicted that our supply chains would, in some cases, snap like a rubber band stretched beyond its level of tolerance. Sure, we knew there were potential vulnerabilities in our supply and demand networks, but who expected such far-reaching, universal failures? By the state of things today, very few saw what was coming, and even fewer believed that we weren't ready for it.

Why were we so confident?

The problem wasn’t a lack of awareness regarding the importance of having resiliency and agility in our supply chains. We knew it was important. The issue was in our approach, or better yet, our interpretation.

Mary Zampino, Vice President – Content, Research & Analytics

This Month at SIG – July 2022

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

The second half of 2022 is continuing to force procurement leaders to navigate varying crises. Strategies now weigh less on cost and more in favor of supply assurance. We have a host of resources, insights and events to get you prepared!


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 20, Richard Elmore, CPO from The Penn State University, will be joined by AArete experts Tyler Higgins, Gaurav Joshi and John Marchisin. They will explore how to adapt your supply chain for diversity and sustainability. We will close the day with a topic-based roundtable discussion. 

Join us for this collaborative and very personal conversation!

 
 

Power Hour Webinars

Emerging Strategies to Level Up Your CW Program

During this webinar, learn how contingent workforce owners are using technology to bridge the gap and communicate with all parties successfully.

Desmond Williams, Digital Marketing Manager

Building a Supplier Management Program

Supplier Management

SIG University Certified Supplier Management Professional (CSMP) program graduate James Hamlin breaks down the knowledge he's gained while building a supplier management program.

James Hamlin, Sourcing Analyst, American Tire Distributors

This Month at SIG – June 2022

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

The second half of 2022 is here but constant supply chain problems are diverting procurement’s attention from other business-critical areas. We have a host of resources, insights and events to get you prepared!


June 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 June 8, Keith Learn, Vice President of Procurement & Supplier Development at Mary Kay Inc., will deliver a thought leadership presentation that will leave you with many new tools and strategies! Nick Heinzmann, Vice President of Research at Spend Matters will also be presenting his latest learnings. Nick will discuss ESG, regulatory forces, and inflation.

Join us for this collaborative and very personal conversation!

 
 

Power Hour Webinars

ESG Regulation and its Impact on Sourcing

Join John Bree, Chief Evangelist & Chief Risk Officer from Supply Wisdom on June 9th to explore the impact of ESG on supply chains and operations.

Desmond Williams, Digital Marketing Manager

Using A GPO Model To Fight Inflation? Insights From Our Second Interview With A Senior Procurement Executive

How to Use A GPO Model To Fight Inflation

In the last article, we heard from Senior Vice President & Global Chief Procurement Officer at Cigna Express Scripts, Tony Abate, regarding his steps for dealing with inflation.

In this article, we hear takeaways from a recent CPO Roundtable discussion from Michael Koontz, VP, Strategic Sourcing & Business Leader for American Tire Distributors (ATD) Sourcing Solutions. I think you will find his approach to battling inflation innovative and unique.

Before we get to Michael’s fight-inflation strategy, let’s first provide some background information on his company. ATD operates more than 130 distribution centers, including 24 in Canada, serving close to 80,000 customers across North America. Employing 4,000 associates in the U.S. and 600 north of the 49th, ATD offers an “unsurpassed breadth and depth of inventory, frequent delivery and value-added services to tire and automotive service customers.”

Their selection as one of Forbes’ 2021 America's Best Mid-Sized Employers and the reception of a Gold Stevie® Award in the Transportation Company of the Year category of the American Business Awards® provides testimony to their high level of service and success as a company.

An Innovative Model

According to Michael, inflation is “five times more difficult for small businesses.

Dawn Tiura, President and CEO, SIG

This Month at SIG – May 2022

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

As the first half of 2022 comes to a close, procurement faces the reality of inflation and what that means for their supply chains. We have a host of resources, insights and events to get you prepared.


May 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 May 4 Brian Roche, CPO from Westfield Insurance, will deliver an exciting keynote session on the potential for AI in procurement at the May CPO & Executive Virtual Series. He will be followed by Karen Coker, Director of Third Party Risk & Vendor Management at LendingPoint for A Day in the Life presentation.

Join us for this executive-level conversation with actionable takeaways!

 

May Microlearning by SIG University

On May 18, Canda Rozier CIAP, Sourcing Executive & former CPO, will share her digitization journey as a CPO. That session will be followed by Daryl Hammett, Global Head of Demand and Operations at Amazon Web Services (AWS), who will lead an exciting deep-dive discussion on the importance of professional development in sourcing. 

Join your sourcing, procurement, and risk management colleagues in this two-hour interactive virtual environment to be challenged with topics related to our industries!

Desmond Williams, Digital Marketing Manager

Is Your Supply Chain ESG Ready? (A SIG Summit 2022 Keynote Review)

esg in supply chain

In this second article from the 2022 SIG Procurement Technology Summit Keynote Series, we will tap into the expertise of an esteemed panel of industry leaders who will share their experiences with mobilizing their respective organizations' ESG initiatives to achieve progressive outcomes. Make particular note of the words progressive outcomes because implementing and maintaining an ESG strategy is not a destination but an ongoing journey that requires commitment and the agility to respond to ever-changing marketplace realities.

Rather than just a generalized or conceptual discussion on ESG, these individuals delivered personal and detailed accounts regarding the successful transformation of their supply chains to align with social imperatives and financial objectives. In other words, during the discussion, they effectively "blazed" a trail of understanding that can serve as a helpful roadmap for the successful implementation of your organization's ESG strategy.

No Longer An Option

In the recent Oliver Wyman article, Powering Your Sustainability Strategy Through Procurement, it is clear that the proactive implementation of a successful ESG strategy is not an option for organizations – not that it ever was.

The authors specifically talk about how "For many years, calls have been getting louder for business leaders to pay more attention to their organization's environmental, societal, and governance (ESG) strategy."

Fueled by "intensifying pressure" from all directions, including customers, employees, investors, and governments, good intentions must now materialize into tangible outcomes sooner rather than later.

Dawn Tiura, President and CEO, SIG

Two Senior Procurement Executives Weigh In On The Best Way To Deal With Inflation

procurement inflation

One of the significant advantages of the Sourcing Industry Group (SIG) is that members have unparalleled access to industry insights and expertise through our vast and diverse community of practitioners and thought leaders.

Recently we conducted interviews with two senior procurement executives regarding their innovatively practical approach to dealing with inflation and its impact on supply chains.

In the first instance, we talked with Tony Abate - Senior Vice President & Global Chief Procurement Officer at Cigna Express Scripts.

When Cigna closed its $67 billion acquisition of Express Scripts in December 2018 to become what the media called a “$140 billion revenue healthcare colossus,” Tony’s responsibilities expanded considerably.

Responsible for “transforming and integrating two procurement departments into a global, world-class international team, he is accountable for the CIGNA taxonomy research, analysis, and development, including identifying 8000 suppliers with an annual spend of $4.5 billion.

Our second executive is Michael Koontz. Michael is the VP Strategic Sourcing & Business Leader for ATD Sourcing Solutions, whose unique approach to battling inflation we will discuss in a follow-up post.

Creeping Into Supply Chains

Shortly before his interview with SIG, Tony gave a speech to 1500 employees at Cigna on inflation and its impact on supply chains.

Dawn Tiura, President and CEO, SIG

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