Digital Procurement – Pack your bag, you are going on a journey

ivalua

The Hackett Group and Ivalua have been working together for some months to assess the status of Digital Procurement transformation and lessons learned from early adopters. Digital Procurement – a place we are planning to visit soon (and hopefully stay).

Siemens BT: Every analytical transformation requires a “Jonah Hill”

NC State SCRC

One of our newest SCRC partners, Siemens Building Technologies, recently shared their insights on creating an analytics strategy. This effort was led by the Chief Procurement Officer for Siemens BT, Carl Oberland, but has recently been rolled out across the global organization.

10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.

Cerasis

However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. Many suppliers and manufacturers may have existing, internal analytics tools, but using these tools for benchmarking processes may be ill-fated. Take Advantage of Cloud-Based Analytics for Better Warehouse Management and Forecasting. Cloud-based systems offer many benefits throughout the procurement supply chain, reports Procurious HQ.

SIG Webinar on Procurement Analytics and Innovative Data Leveraging

Supply Chain View from the Field

The webinar will also include Howard Richman, a colleague I have known for many years, first at Merck, and now working at Citrix as their Chief Procurement Officer. Also joining us will be Michael O’Leary, Director of Procurement Solutions at IBM. I emphasied to Alex that I had seen a similar trend – that purchasing executives seek to drive procurement value transformation, many find themselves struggling to make progress in these three areas of change.

The 4 Stages of Supply Chain Analytics

and advanced analytics. Supply Chain Analytics Maturity Model 2 The Stages Supply chain leaders are wanting their organizations to be data-driven. stage 1) to prescriptive and forward-looking analytics to drive meaningful. 3 Stage 1 Descriptive Analytics (What happened?)

Procurement Analytics Conferences Feature Emerging of Cognitive Procurement Technologies

NC State SCRC

I had the opportunity to attend a number of exciting events on procurement analytics in the last month. First, I attended a CAPS Research event in RTP on Procurement Analytics, held right down the road at IBM headquarters. Finally, I attended an event held by IBM, called Empower2016 , in Orlando, which featured a number of speakers and analysts discussing the emerging technologies being developed around Watson Cognitive Analytics.

Procurement Transformation Delays – The Role of Personality!

Supply Chain Game Changer

Article provided to Supply Chain Game Changer by Katalin Brennan at Eyvo E-Procurement. We’ve all heard of the need for Procurement to embrace the Digital Transformation for many years. There are few procurement-specific personality surveys available. Subscribe Here!

[INFOGRAPHIC] Procurement Trends: Carving a Bigger Role in Supply Chain & Manufacturing

Cerasis

As time passed, procurement gradually gained a larger role in the scope of manufacturing and order fulfillment. By the mid-1950s , procurement had become a commonplace aspect of minor business, and procurement was almost comparable to secretarial work.

These 7 Industrial Procurement Trends will Impact Supply Chain & Logistics in 2018

Cerasis

Procurement must never be an afterthought in any enterprise. The answers to these questions lie in understanding a few of the top industrial procurement trends to expect in 2018. Companies Will Seek New Ways to Use Technology in Procurement. As with many other topics affecting industry trends in the transportation, trucking and manufacturing industries, companies are looking for ways to increase the use of technology in procurement, explains Melissa Deleen of LinkedIn.

New YouTube on Procurement Analytics from IBM Empower Conference

NC State SCRC

I was interviewed at the IBM Emptoris conference back in November on some of the emerging trends in terms of the value added that procurement can add through analytics, the importance of data governance as the foundation for analytics, sources of data for creating cognitive analytics, and the rise of Big Data and the possibilities in terms of applications. Data: The critical foundation for procurement analytics : https://youtu.be/VrvHi6d0vEE.

Supply Chain Matters Guest Contribution: Can Data Science Help Procurement Zero-In on the Right Supplier?

Supply Chain Matters

Supply Chain Matters features a guest contribution from Mike Russo- Can Data Science Help Procurement Zero-In on the Right Supplier? Prescriptive or Predictive Analytics Procurement and Sourcing Supplier Management Supply chain Matters blog

Needed: An Analytics Platform to Support the New Face of Procurement Transformation

Supply Chain View from the Field

As organizations continue to discuss the notion of procurement value transformation, there is a noticeable gap between the stated intentions of organizations to pursue value, and their actions as they pertain to on-going adversarial approaches to supplier relationships. As Gerard Chick and I noted in our recent book “The Procurement Value Proposition” (2015), many organizations see their supply function as a key driver of competitive advantage.

The 3 Pillars of Digital Procurement!

Supply Chain Game Changer

Procurement professionals have the same question looming over their head on a daily basis: “How do you plan on dealing with digitalization?”. Regardless of the sheer amount of content one could chose to consume, the theme for the day was apparent and held strong: Digital Procurement.

Transportation Procurement in India

CHAINalytics

By Linsa Godwin Sathiamoses | Consultant, Transportation, Chainalytics | Procuring transportation services is an important activity on the supply chain calendar. It is also one area where every procurement manager thinks he or she is doing a good job, until proven otherwise.

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CAPS Procurement Analytics Study Highlighted in Inside Supply Management

NC State SCRC

This month’s Inside Supply Management published by the Institute for Supply Management features an article announcing the launch of a study being undertaken by the Center for Advanced Purchasing on the evolution of procurement analytics. Examples include mapping product and service genomes, “block chains”, embedded procurement solutions, elimination of purchase orders, buyer assistance, and other solutions). There are an incredible number of procurement platforms.

Understanding Your Sourcing Footprint is the Key to Procurement Analytics

Supply Chain View from the Field

Often this is documented into a supplier scorecards, and over the procure to pay cycle, invoices and payments occur, which are folded into the on-going spend analysis. When this is multiplied over millions of vendors across multiple languages, the challenges of tracking and managing spend analytics becomes evident. Procure to Pay Strategic Sourcing Supply chain analytics

Procurement Analytics Hot Topic at Procurement Leaders West Coast Forum and ISM Carolinas

NC State SCRC

I had the opportunity to attend the Procurement Leaders in San Francisco forum two weeks ago, followed by attending the ISM Carolinas-Virginia meeting in Winston Salem last week. Procurement analytics was discussed at length at both sessions. The large procurement providers, such as Ariba, Zycus, Brave, Coupa, and others are making good strides into the market. Most are still focused on spend analytics. Analytics is still seen as an emerging discipline.

Becoming a Valued Busienss Partner: Procurement Analytics SCRC Meeting Insights

NC State SCRC

After highlighting some of the results from the IBM study I worked on this past fall on procurement analytics, I introduced Rich Hughes, former Chief Procurement Officer from Procter & Gamble. Rick told me that my presentation brought back a lot of early memories from P&G back when it was in its early days of procurement transformation in 2000-2001. The goal was to ensure that procurement was no-touch.

Procurement and Suppliers on the Same Page: How to Craft an Effective Terms & Conditions Sales Document

Cerasis

Editor's Note: Today's blog is the second part of Chuck Intrieri's series on how procurement and suppliers can avoid issues with their contracts. Procurement and suppliers often assume that small print is highly complicated legal jargon that is both boring and largely irrelevant. It Would Benefit Both Procurement and Suppliers To Write in a Clear, Friendly, and Organized Manner. Google Analytics); Serving behavioral ads (e.g. Procurement

Predictions on Predictive Analytics in Procurement

NC State SCRC

I was recently interviewed by Phillip Ideson of the “Art of Procurement” webcast. I met Phillip at the ISM Global Procurement Tech Summit about a month ago, and he invited me to join the show. How the NC State Supply Chain curriculum has evolved to reflect the changing nature of the skills necessary to be successful in procurement. What is predictive analytics? 5 predictions on the impact that predictive analytics will have on the future of procurement.

Time to Look into the Future of Procurement!

Supply Chain Game Changer

Check out What Exactly Is Procurement? There has been transformation in the Procurement function over the past decade. A Paradigm Shift in the Procurement Function. The Evolution of Procurement’s Value Proposition. Procurement professionals need to get savvy.

7 Tips: A Guide to Mastering Procurement

Material Handling & Logistics

With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing.

What Exactly Is Procurement? And What is Purchasing?

Supply Chain Game Changer

For his entire career my Father worked in the field of Procurement. But the job titles that he had during his career alternatively included either the word Procurement or the word Purchasing. But was that Procurement or was it Purchasing? What exactly is Procurement?

The Procurement Economy in 2019: Bracing Yourself for the Future

Jaggaer

As we’ve explored in our last two blog posts, economists are predicting a decline in global economic growth due to policy and trade issues both in the United States and the European Union , bringing an increased risk to supply chains and procurement organizations. Monitoring supply and preparing for alternate suppliers allowed procurement teams to quickly pivot when they lost suppliers to bankruptcy or downsizing. Procurement Resources

Big Data and Analytics for Oil and Gas Transportation

Talking Logistics

Implementing proven procurement processes for oilfield trucking. The post Big Data and Analytics for Oil and Gas Transportation appeared first on Talking Logistics with Adrian Gonzalez. Live Epsiode: Friday, November 14, 2014 at 12:00 ET. There has been a significant resurgence of the U.S. oil and gas industry in recent years, and U.S. is now second leading producer of oil (behind Saudi Arabia). Based on the current trends, North America could rival OPEC in oil and production.

How VR, 3D Printing & Predictive Analytics in the IOT are Currently Powering the Manufacturing Industry

Cerasis

So, let’s take a look at how our predictions for the first four manufacturing technology trends (Predictive analytics, 3D Printing, and VR) to watch for in 2016 stacked up. Predictive Analytics Became Commonplace to Manufacturing. The use of predictive analytics has the potential to dramatically reduce expenses in the manufacturing sector, particularly with respect to proactive machine maintenance.

Spend Analytics vs Contract Management Systems: Both Please!

Supply Chain View from the Field

I have been interviewing a number of CPO’s on the subject of procurement analytics and predictive analytics. In this discussion, an issue that frequently comes up is the debate over spend analytics and contract management systems. For organizations in the early stages of procurement transformation, which ones are more critical. “I think obviously you need to figure out what your roadmap is for spend analytics and contract management.

Do You Know How Much Your Company is Spending? A Spend Analytics Checklist

Supply Chain View from the Field

Analytics Category Management Forecasting Procure to Pay Strategic Cost Management Strategic Sourcing Supply chain analytics Supply Chain Management Supply Chain Systems The leading IT magazine, CIO Review, today published a special issue on supply chain transformation, and included an article I wrote on spend management as a core capability.

Procurement Analytics: Hanging Out and Thinking About Value

NC State SCRC

We recorded the hangout discussion, and it gave me an opportunity to share some of my thoughts on how procurement needs to really step up and change. Value-based procurement can take many forms. In other cases, gaining benefit may involve procuring a system with higher initial costs but lower lifecycle expenses and easier updating capabilities. I had an opportunity to go on a “Google Hangout” with Alex Zhong from IBM yesterday.

New Student Projects Suggest Greater Focus on Analytics

Supply Chain View from the Field

This year was no exception, and we have a cadre of bright MBA, industrial engineering, and manufacturing system engineering students lined up to work on the following projects: American Red Cross – Procurement Card Analysis – Reviewing spend analytics through p-card buying channels, and identifying key trends and consolidation opportunities. You guessed it – ANALYTICS!

The State of Supply Chain Trends Part II: AI, Procurement, & the New Lean

Cerasis

From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. Consequently, all processes, including inventory management, logistics, data analytics and ongoing performance management, as reiterated by the staff of Supply Chain 24/7, improvement, can be optimized, creating a more efficient, direct and intelligent supply chain network. Procurement’s Role Did Become More Important.

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Handfield’s Supply Chain Analytics Predictions for 2014

Supply Chain View from the Field

I’ve had the good fortune to be presented with opportunities for compelling discussions with a significant group of leading thinkers, senior executives in procurement, logistics, and technology management over this past year. I visited the BVL Kongress in Berlin, and also attended the International Institute for Analytics ”Chief Analytics Officer” meeting last summer. Not surprisingly, analytics is at the top of the list.

Procurement, Industry 4.0, Cybersecurity, Robotics and Automation: The Image of Manufacturing is Evolving.

Cerasis

Let’s take another look at how procurement, computing power, industry 4.0, cyber security, advanced robotics and automation became top priorities for research, development, and implementation throughout the past year’s operations in the manufacturing industry. . Procurement Operations Became Decentralized and Adaptable. Procurement is also becoming more interesting and involved. Twitter Facebook Google+ LinkedIn The post Procurement, Industry 4.0,

Procurement Perspectives In Year 2017

CormSquare

Procurement too is not untouched from these changes, but the question is how? Where will Procurement be in 2017? Procurement’s job will always be to reduce costs. As we move into 2017, it is the ideal time for procurement to examine and explore new ideas.

Contingent Workforce is a Major Focus for Procurement

NC State SCRC

Brian Hoffmeyer from IQ Navigator, a procure to pay solution, spoke today at IBM’s Empower event on this trend, and the implications for procurement. It helps to manage the procure to pay process for contingent labor – and helps to manage workflows. This creates a consolidated invoice based on their assignment – and the off-boarding system occurs so they can no longer badge into building – and reporting and analytics are used to monitor and manage workers.