Part 4 of the 5 part series (Part 1, Part 2 & Part 3 can be accessed by clicking on them respectively) on ‘Leveraging technology to drive business performance’ focused on the importance of supplier management in today’s volatile business…
Archive | January, 2012
Embracing Social Media
The last decade has seen a rapid increase in the number of people using social media platforms. Latest reports place the number at more than 1.5 billion. I firmly believe the time has come for procurement to embrace social media and, in so doing, can benefit in three areas: information management, risk mitigation & supplier management and collaboration. Let us look into each:
Information management: With…
Leveraging technology to drive business performance – Part 4
Part 3 of the 5 part series on ‘Leveraging technology to drive business performance’ focused on contract management which forms an important part of strategic sourcing. Part 4 of the series will focus on the importance of maintaining healthy supplier relationship in today’s volatile business environment
In order to increase the competency and add new competitive advantages, organizations today are relying on collaborative relationships. Having a healthy relationship with the…
Leveraging technology to drive business performance – Part 3
In the second part of the 5 part series on ‘Leveraging technology to drive business performance’ we provided an overview on ‘Strategic decision making on future sourcing projects’. (Part 1, Part 2). Part 3 of the series will focus on contract management which also forms an important part of strategic sourcing.
Leveraging technology to drive business performance – Part 2
In part 1 of our 5 part series we covered one of the strategic imperatives of procurement viz. ‘visibility into existing spend portfolio’ The second part of the series will provide an overview on ‘Strategic decision making on future sourcing projects’.
Strategic sourcing is the process of identifying, evaluating, negotiating, and implementing the optimal mix of…
3 Steps to Reducing Spend Through Procurement – BFSI perspective
Although the economic environment is more benign than at this time last year and there are signs of recovery, banks and financial services firms are still facing uncertainty. Slow economic growth coupled with new banking regulations on the horizon — such as Basel III, which will require banks and financial services firms to hold more capital and low-yielding liquidity — could translate into unprofitable business lines and higher…
Leveraging technology to drive business performance – Part 1
Procurement over the years has evolved from merely being transactional (being cost focused) to being strategic in its approach. Technology has played a major force in the transformation and rise of the procurement function. Procurement professionals have leveraged technology in numerous areas of procurement to ensure it delivers value to the bottom line and at the same time add value to organizational processes.
This post is…
Supplier Performance Management – A catalyst for developing a globally aligned supply base
Until recently an overwhelming number of organizations relied heavily on a localized supplier base, where suppliers were in close proximity to the purchasing organizations. The major disadvantage with such a setting is the inability to leverage on the opportunities that a more geographically dispersed supplier base can offer. Today, with ever changing technology & the advent of e-commerce, information about suppliers has never been so abundant for organizations…
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- 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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