Tools

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.

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.

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.

Walk the talk: machine learning and big data for procurement analytics

SammeliSammalkorpi.jpegIn procurement analytics, there are two clear trends:
1. Data is the new oil.
2. Big data and advanced analytics, such as machine learning, deep learning and neural networks, definitely create new opportunities.

The way we can automatically extract insights from vast amounts of data will both unearth new opportunities as well as move tasks performed by humans to machines.

As these great opportunities exist with a lot of buzz, the big question remains: how do we walk the talk? Sammeli Sammalkorpi, Co-founder of procurement analytics solutions provider Sievo, tries to answer this question.

Join us at Smart Procurement World in 2019! Our exciting theme this year is Walk the talk: high impact procurement. We will explore topics such as policy vs. impact, governance for results and delivering impact at board level.

How to get to 100% value creation from procurement

GaryNobel_100.jpgAs procurement professionals, what do you think your suppliers think of you - and do you care?

Do they see you as a hard-edged negotiator who wants to strike the best deal, based on price alone? Or do they see you as relationship-driven, keen to create more visibility within the business and developing inter-dependent relationships with your supply base?

Hopefully you want to be seen as the latter, but are the systems and tools you have in place sometimes working against you? Asks Gary Noble, joint managing director of 1st Executive, an international procurement and supply chain recruiter.

Rising to the procurement challenge: a story of talent and technology

KumeshneeWest_100.jpgProcurement has a key role to play in driving business efficiency in the Fourth Industrial Revolution. To maximise its impact, research points to the fact that investing in the skills of people, especially leadership skills, will be just as important as keeping up with advances in technology. Kumeshnee West, Director: Executive Education at the UCT Graduate School of Business, and a panellist at the recent Smart Procurement World Indaba, unpacks this topic in this month's SmartProcurement.

6 steps to optimise your procurement workforce

DougLeeby_100.jpgTo become more agile, organisations are re-evaluating their workforce strategies. Although strategists often talk about 'total workforce management', what their business functions - procurement included - need most is something much simpler: total workforce optimisation (TWO).

For most business functions, human capital is the most important asset and its largest single operating expense. It is also a constant concern for executives who fear they do not have, and cannot acquire, the right mix of top-tier talent to compete and succeed, says Doug Leeby, CEO of Beeline, which provides software solutions for sourcing and managing the extended workforce.

Join us at Smart Procurement World's Gauteng Indaba on 18 & 19 September where our panel will discuss how you attract and retain great people to work in a public sector procurement department.

Blockchain an important tool for procurement to establish trust

Bertrand_Malteverne.jpgBlockchain is almost everywhere and is getting a lot of hype. It is largely because blockchain is the underlying technology behind Bitcoin, a digital currency (a.k.a. a cryptocurrency) that received a lot of coverage in the media. In the wake of the cryptocurrency craze, blockchain has continued to attract more and more attention.

Blockchain can have a significant impact on business because it can be a powerful tool when establishing trust, which is at the heart of business and procurement.

In this month's SmartProcurement, Bertrand Malterverne, a Solutions Consultant who helps organisations digitally transform their procurement practices, highlights how to use Blockchain to make a real difference.

Join us at Smart Procurement World's Gauteng Indaba on 18 & 19 September where Bertrand Malteverne will unpack blockchain technology and how it will change procurement's world.

Helping procurement professionals embrace AI

SamiPeltonen_100.jpgGiven the inevitability of emerging technologies transforming businesses, how can you prepare your company for AI's impact on procurement? Sami Peltonen, Vice President of Purchase-to-Pay Product Management for Basware North America, takes a look at how procurement departments can mitigate employees' fears.

Join us at Smart Procurement World's Gauteng Indaba on 18 & 19 September to discuss Artificial Intelligence (AI) and Blockchain are rapidly redefining the traditional role of procurement professionals.

Using big-data analytics to drive forward business value in procurement - Part 1

WalterCharles_.jpgA conversation with Walter Charles, Chief Procurement Officer, Biogen.

Walter Charles' global procurement teams support billions of dollars in annual purchases. Having spent decades at Kraft Foods, Kellogg's, Johnson & Johnson, and now Biogen, Charles provides keen insight into the state of procurement today as well as how big data analytics is disrupting the landscape to provide CPOs with meaningful answers to more strategic procurement execution.

6 things to consider before you purchase any procurement technology

DanQuinn.jpgThinking of investing in some of the latest procurement technology? If you have not consulted market trends, got a third opinion and done all of your research, you might want to pull on the reins, advises Dan Quinn, Senior Vice President of cloud-based spend management provider Jaggaer (Middle East and North America).

Blockchain: what are the opportunities for Procurement?

Bertrand_Malteverne.jpgBy Bertrand Maltaverne, a Solutions Consultant who helps organisations digitally transform their procurement practices.

To be honest, I haven't totally figured out all of the details of the inner workings of the blockchain technology. And I do not think I will ever try to as some of it is very technical. I also do not believe that Procurement professionals should do it either. However, it is important to understand the implications of the blockchain technology. Because of the way the blockchain works, it has unique characteristics that represent a breakthrough with tremendous value for Procurement.

Digital transformation in procurement: how culture influences the successful implementation of a digital strategy

Jon_Hansen.jpgIn what Gartner has called the Postmodern ERP era, eProcurement technology and technology in general has become more accessible from both an availability and ease-of-use standpoint than it has been historically. However, does increased technological accessibility ensures success if cultural misalignment exists within an organisation?

Jon Hansen, Editor and lead writer for the Procurement Insights Blog, unpacks the digital revolution and corresponding cultural influences from procurement's point of view.

Procurement predictions for 2018

Procurement_Predictions.png

Digital innovation moves procurement risk and transparency forward

RudiKruger_2017.jpgThe act of obtaining or buying goods for business can be extremely complex. Compounded by numerous risks and time-consuming tasks, the additional pressures of procurement (like planning, supplier research, value analysis, price negotiation, contracts administration and inventory control) only add to the overall stress of the job. With so much to consider, the need for safe, efficient and reliable solutions to meet the demands of procurement are highly advantageous.

The changing face of the procurement office - a digital revolution

SarahGeorge.jpgBound by the challenges of reducing costs, managing supplier risks and ensuring financial and regulatory changes in policies, chief procurement officers (CPOs) have a tall order. Sarah George, ERP/EPM Cloud Applications Business Development and Product Strategy Manager at Oracle, unpacks the changing digital face of the procurement office, in this month's SmartProcurement.

 

 

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