Where the world of procurement is heading

SammeliSammalkorpi.jpegHaving more data generated in the last two years than in the history of mankind is an opportunity to recognise how analytics is a source of competitive advantage. Sammeli Sammalkorpi, Co-founder of procurement analytics solutions provider Sievo, shares some key points from a lecture presented at the London Business School.

Understanding the shape and cut of procurement organisations

ElainePorteous_100.jpgElaine Porteous clears up some common misconceptions about the ways in which procurement organisations can be structured as well as demystifies some of the associated jargon...

Starting a new job can be both stressful and exhilarating. The people are different, the location is strange and the way they work is peculiar to that enterprise. There may be a seven-level procurement organisation chart or a loose, undocumented reporting structure to be navigated. What is also daunting is the 'in-speak': specific terminology which may be like a foreign language to you. So, what do they mean?

The five rights of procurement

EmanAbouzeid_2_100.jpgThe primary task of procurement is to provide the 'right' inputs for an organisation's processes.

The 'right' inputs are traditionally described as follows:
- Inputs of the 'right quality'
- Delivered in the 'right quantity'
- To the 'right place'
- At the 'right time'
- For the 'right price'

These are often called the 'five rights' of procurement and supply.

Eman Abouzeid (CSCP, CIPS), a procurement and supply chain professional with global experience, unpacks why it is important to achieve the five rights.

How can procurement managers guide corporate travellers towards better travel choices in 2019?

NicoleAdonis_100.jpgDirect feedback from frequent corporate travellers can be a powerful tool in the arsenal of a corporate travel procurement manager in their efforts to achieve better compliance and engagement, and to reduce the human cost of frequent travel.

FCM Travel Solutions South Africa GM Nicole Adonis unpacks the importance of traveller feedback as a performance measure in this month's SmartProcurement, as well as leveraging behavioural economics to encourage travel choices that are policy friendly.

Blockchain will not save the world (at least not this year...)

Bertrand_Malteverne.jpgBlockchain hype has spread like wildfire... "But it's time for a reality check", says Bertrand Maltaverne, Solutions Consultant, who helps organisations to digitally transform their procurement practices.

The management of procurement value

SergiiDovgalenko_100.jpgIt is now apparent that procurement can deliver an extensive value proposition in addition to traditional savings and compliance. Procurement has the potential to be a revenue centre, empower suppliers' product innovation, manage risks, contribute to customer satisfaction and so much more.

Traditional procurement strategy that pragmatically concentrates on return on investment (ROI) and the enablers of ROI does not sufficiently elaborate on the variety of value elements that can be unlocked.

A step towards introducing this new dimension of value elements is to develop a classification of different values.

A group of authors from Bain & Company, in their article The Elements of Value, has undertaken such an approach and built the Value Pyramid, which can be customised for procurement.

Sergii Dovgalenko (FCIPS), Head of Procurement, Etihad Airways, takes us through the process at a high level:

Procurement perspectives: exploring a more efficient procurement process

StephenBauld_100.jpgIf a municipality intends to explore the possibilities around effective and efficient procurement by adopting a more strategic approach, then it must place emphasis on taking proactive measures to improve the purchasing function.

"It is not sufficient to rely on only those measures that would prevent things from going wrong; it would be time well spent to concentrate, initially, on conceptualising an overall proactive approach to the procurement function", says Stephen Bauld, a government procurement expert.

January PMI points to solid start to 2019

PMI_strong_start_200.jpgThe seasonally-adjusted Purchasing Managers' Index (PMI) edged lower to 49.9 index points in January 2019, down from 50.7 in December 2018.

Despite the decline, the index remains 2 points above the average recorded in 2018, which suggests that manufacturing started the year on fairly solid footing.

The performance of the PMI's sub-components was more mixed, with many of the sub-indices declining compared with their December levels.

Creating a framework for developing SCM professionals

IngridDuBuisson_100.jpgSouth Africa currently ranks 61st out of 137 countries within the 2017/2018 Global Competitive Index (World Economic Forum, 2017). One of the Index's main critiques against the country is its inadequately educated workforce, which re-affirms the critical role of education and skills development.

It is imperative that the country ensures efficient and effective skills development and training delivery within industry, informed and driven by industry demands, within a clearly-devised strategy that partners with all role players within the economy.

It is within this context that progress is being made on a framework for the development of supply chain management (SCM) professionals within South Africa, Ingrid du Buisson, Deputy Chairperson of Professionalisation for the Interim SCM Council, told SmartProcurement.

Your procurement resolution: don't settle for best-in-class

AlexSaric_100.jpgWhat better time to set and start tackling key objectives for 2019? Your New Year's resolution should be to be better than best-in-class...

"Achieving best-in-class performance won't result in procurement becoming truly strategic and may actually hinder progress in the long term. So, don't settle for best-in-class", says Alex Saric, from source-to-pay suite provider Ivalua.

Procurement predictions for 2019

LucyPatchett_100.jpgSupply Management's Lucy Patchett takes a look at some of the key trends for 2019...


 

 

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