A quick search on Google for the word ‘innovation’ led me to the Wikipedia page which cites the origin of the word. The word innovation derives from the Latin word innovatus, which is the noun form of innovare “to renew or change,” stemming from in-”into” + novus-”new”. Couldn’t agree with this more after I read a recent article in HBR – ‘Don’t Let Your Supply Chain Control Your…
Archive | November, 2011
6 tips for getting started with cost savings in higher-education setting
The last several years have seen increasing numbers of universities and colleges adopting the disciplines and processes, of corporate enterprise procurement technology. But it is one thing to decide that enterprise procurement technology is a good thing for colleges and universities, quite another to transport the disciplines from the corporate private sector into the realm of academia. This post provides 6 tips for universities to quick start cost…
Felix Felicis for commodity managers – Would it be of any help?
“Luck is what happens when preparation meets opportunity.”- Roman philosopher, mid-1st century AD
As a buyer in the procurement department, did you get a feeling about your luck being bad when you recently made an important purchase of a commodity and it backfired? Are you looking for things to correct your luck before the next purchase?
If your answer is yes, then we are…
Driving successful procurement technology initiatives
A recent study of 600 procurement and supply management professionals representing an estimated $370 billion or more worth of collective spending power found there are specific, and proven, tactics and strategies that are most effective for persuading people in corporate enterprises to adopt and use preferred procurement processes and technologies. According to the study, there are three benchmark indicators for achieving both corporate and cultural adoption of procurement…
Expert Access: Supply Risk – Could Supplier Management be a Remedy?
In order to increase competency and add new competitive advantages, organizations today are relying on collaborative relationships. When implementing supplier partnerships, firms commonly take either a strategic or reactive approach. In the current business environment, firms are trying to migrate from a reactive approach to more of a strategic approach to establishing supplier partnerships. The latter looks at the entire supply base with a focus on improving specific…
Expert Talk: Strategic Imperatives of Procurement – People, Process & Technology
For procurement to accelerate its movement up the corporate ladder and act strategically, streamlining procurement processes needs to be the key focus area for procurement professionals. Organizations today are expecting procurement to drive competitive performance in strategic areas. For procurement to deliver on the strategic areas like profitability, value creation, risk mitigation etc., it needs to equip itself with the right skill sets and technology which will enable…
Working Capital Management: How can procurement help?
A recent article in McKinsey, ‘Five steps to a more effective global treasury’, talks about changing demands on corporate treasurer and the struggle faced by them to keep up with the new demands. I was wondering what the possible impacts of this global change are for procurement professionals around the globe.
Treasury within organizations are involved in managing cash effectively. Procurement until a decade…
The 6 myths that condemn Procurement – Part 2 (2 part series)
In Part 1 (click here to see part 1) of the 2 part series we had discussed 3 myths that condemn procurement to organizational hell. In this section we will discuss the remaining three.
4. The only teams that the procurement team needs to establish collaborations with are the quality management…
- Driving successful procurement technology initiatives November 23, 2011
- Maverick Spending October 24, 2011
- Working Capital Management: How can procurement help? November 15, 2011
- End user – Key to Procurement Technology Adoption October 24, 2011
- The 6 myths that condemn Procurement – Part 1 (2 part series) October 31, 2011
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