Another edition of “Source-to-Pay Office Hours” where I answer your questions on everything related to Procurement transformation and Procurement systems. You can ask your own question HERE for a future episode. Show Notes 2:10 – Fundamental Framework: The Procurement Value Chain 5:43 – How can I optimize my supplier due diligence process? I’m doing it […]
With the proliferation of enterprise procurement systems available today, buyers are confronted with an anxiety inducing paradox of choice. There are well over 100 procurement software companies worldwide today, each focusing on different parts of the Procurement value chain. Certain larger providers even argue they can be your “one-stop shop” for the entire Procurement value […]
In nature, cross pollination can yield wonderful new varieties of plants. As bees and other insects buzz between different plant species, magic can happen and a new type of plant is born. I think this is a great analogy for one of the ways you can bring innovation to your field; that is, getting inspired […]
Having now been involved in a dozen system implementations, I believe that defining guiding principles for your IT initiatives is “necessary but not sufficient”. Guiding principles are a set of heuristics that guide organizational decision making in a common direction. However, if defined during a one-off activity at the outset of a project they will […]
I’ve heard “purchasing” and “procurement” used synonymously more times than I can count. Though these terms refer to concepts in the same realm, it’s important to understand the nuance between the two when “nerding out” in functional discussions (Oh… Am I the only one who does that?). All kidding aside, the distinction is important enough […]