The Monthly Metric: SWOT Analysis

SWOT 5

Welcome to the first installment of The Monthly Metric, where we examine a piece of data that can help supply management professionals do their job more efficiently. In our introductory post last month, we addressed how advanced analytics has taken over Major League Baseball, but is not as prominently used in procurement. This, according to survey results indicating that many supply management … [Read more...]

Seizing Initiative on Legal Spend

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By Robert DiDomenico In 2009, purchasing legal services was a new corporate initiative for corporate procurement departments — one that was quite different from buying hard goods. By addressing legal spend, the thought was, procurement professionals could create value for their organizations. While there is still agreement that money can be saved, the legal arena provides even greater … [Read more...]

What Productive Procurement Looks Like

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In six years of Return on Supply Management Assets (ROSMA) annual evaluation reports of procurement organizations — a collaboration of A.T. Kearney, Institute for Supply Management® (ISM®) and the Chartered Institute of Procurement & Supply (CIPS) — the results have shown remarkable stability. Or disappointing monotony, as ISM CEO Thomas W. Derry remarked in What Good Looks Like, a white … [Read more...]

The Monthly Metric: Introduction

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March seems to be a less-than-ideal month to start a project that involves seriously crunching numbers and exploring the science of supply management. After all, it’s spring break time, so who wants to go back to school, right? However, March is also when Major League Baseball teams are on the field for spring training, as the six weeks in Arizona and Florida prepare them for the 162-game grind … [Read more...]

Stop Calling End-Users ‘Customers’

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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...]

Contract administration success is focus of seminar

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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

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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...]

Chief Spend Officer as the Next Procurement Trend

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The Indirect CPO as The Next Chief Spend Officer ISM2016 session on Wednesday, May 18 Presenter: David Hearn, chief advisory officer, CPO Advisement Services and former indirect CPO at Juniper Networks, Kaiser Permanente and Sun Microsystems. Think of the indirect chief procurement officer in a new way: as an organization's chief spend officer, Hearn says. Such a position enables an … [Read more...]

Global Tech Summit Offers New Ways of Looking at Procurement

Attendees at the Global Procurement Tech Summit on March 15, 2016.

Today’s procurement professionals are faced with continually changing technologies, say speakers at the Global Procurement Technology Summit, presented March 14-16 in Baltimore, by Institute for Supply Management® and Spend Matters. “Technology is really shaping the way we work,” Mary Lue Peck, senior vice president of ISM, told the 200 attendees present during the opening remarks at the … [Read more...]