Cyber Thieves’ Latest Catch: ‘Whaling’

First, there was phishing, then spear phishing. Now, a new term has taken hold as cyber thieves aim their harpoons at even bigger catches. The result is whaling, where hackers’ bait is the highest positions of authority in a company, masquerading through email as a senior executive to attempt to fool an employee or supplier into releasing money, procurements or sensitive information. In June, … [Read more...]

How to Navigate Thorny Ethical Paths

By Chris Martus In science, the Anna Karenina principle is based on the opening sentence of Leo Tolstoy’s classic novel: “Happy families are all alike; every unhappy family is unhappy in its own way.” Meaning that in any situation with multiple dynamics, an optimal outcome can only be achieved if every factor is positive. In other words, if any factor is missing or inadequate, the entire system … [Read more...]

Compliance Strategy Goes Beyond Following the Rules

By Peter Liston The difference between basic trade compliance and a comprehensive compliance strategy can be measured in millions of dollars. Basic competency in completing import/export paperwork is just the baseline for entering the international marketplace. Success depends on understanding the markets, legal requirements, and tax implications. Only then can you develop market-specific … [Read more...]

Stop Calling End-Users ‘Customers’

By Chris McGraw “We have to serve our customers!” You hear it all around you. It sounds like you’re in the sales department. But you’re not. You’re in procurement. In procurement departments at companies of every size and in every industry, the word “customer” is often used to mean the internal stakeholders and end users of the materials and services being procured. “Customer” seems like a … [Read more...]

Supply Management Attracts Top Talent

By Tisha Danehl, Vice President, Ajilon Consumer expectations for faster delivery have sparked a tremendous change in the way things are operating in both logistics and throughout the supply chain itself — with a greater emphasis being placed on speed and enhanced technology. Amidst this changing business landscape, specialized workers in supply chain and logistics are becoming more valuable … [Read more...]

Supplier Diversity Essential Strategy at Arizona Utility

At Salt River Project (SRP), supplier diversity isn’t just a program, it’s an initiative. The Tempe, Arizona-based utility, which serves more than 1 million electric and water customers, looks at supplier diversity as an essential sourcing practice, says Patti Pyle, SRP’s manager of diversity. Her team raises awareness of the importance of including and using diverse suppliers by educating … [Read more...]

ISM’s Thomas W. Derry Offers Tips during Procurious Career Boot Camp

Procurious has launched a free digital career boot camp for procurement professionals. The 15-day event, which began September 19, features 15 five-minute training podcasts, including one by Thomas W. Derry, CEO at Institute for Supply Management®. During the series, participants will learn networking strategies to elevate their career, incubate big ideas on the job, build a personal scorecard … [Read more...]

Brexit’s Cascading Impact on Global Trade

By Hannah Kain, President and CEO, ALOM We have all gotten used to simply hitting the “buy” button on a shopping cart and then expect our order to arrive shortly thereafter. We hardly pay any attention to the origin of the shipment, and sometimes we may be surprised to see where it comes from. Businesses and governments have been focused on how to facilitate goods crossing borders with minimal … [Read more...]

Contract administration success is focus of seminar

Often, the biggest barometer of a contact’s success are the post-signing actions of the parties involved, not the words on the document itself. Ensuring it’s all about action, not words is the job of the contract administrator. “Administering Contracts: From Award to Completion,” an ISM Seminar next held July 11-13 in Pittsburgh, is designed to teach administrators the best practices that … [Read more...]

Seminar provides purchasing playbook

ISM Seminar spoiler alert: One of the first things instructor Edward F. Cocca does in “Fundamentals of Purchasing: The Building Blocks of World-Class Professionalism” is hold up a blank sheet of paper. “I’ll hold it up and point out that it has boundaries, horizontally and vertically, with a flat plane. It’s defined. That’s theory,” says Cocca, a Scottsdale, Arizona, based consultant and … [Read more...]