Diversity. It’s a word you hear quite often. While this is especially true in the tech industry, companies in every sector are working to promote diversity. It’s an issue that has become increasingly important. The fact that the United States’ demographic landscape is rapidly changing gives this issue even more weight. As a matter of [...]
Let me ask you a few questions… What would it be like if you knew that you could call a supplier knowing that you’re going to get a prompt reply? What if you were able to be confident that you were consistently receiving the best pricing? How much better would things be if you knew [...]
It’s not easy to minimize total cost of ownership, is it? According to a 2016 benchmark report, over 50% of Procurement Executives said that total cost savings was one of the most important metrics by which Procurement’s performance was measured. It’s a common and incredibly important challenge in Procurement. When you adopt strategic sourcing best [...]
It’s probably a question you’ve asked and answered a million times now. And yet, you’re probably still wondering what the right answer is. Should you be leasing or buying your materials? Which items should be leased? Which should be purchased outright? It’s an important question for any Procurement professional. According to the report produced for ProcureCon [...]
The traditional Procurement Organization, as we have come to know it, is changing. It will soon look much different, as the trend suggests. It’s evolving. Like any other business organization, Procurement is adapting to the needs and demands of the business. It is taking on a more vital role in the operations of the overall [...]
Are you concerned about avoiding contract noncompliance? Are you worried about whether or not your contract management program is working? You should be. Here’s the thing: noncompliance can cost your company a lot of money.If your organization isn’t managing its contracts effectively, it could be opening itself up to several risks. These include: Losing money [...]
More and more, our culture values diversity in the workplace, and we’ve made great strides as a society in this regard. Minorities make up a larger proportion of the workforce than ever before, and women now make up roughly half of the work force. Workplace diversity is an issue that continues to be covered in [...]
The way you are managing vendor relationships could be hampering your Procurement team’s ability to contribute to your company. According to the Challenges in Asia-Pacific Procurement Benchmark Report that was commissioned specifically for ProcureCon Asia Summit, 45% of respondents report that they are dealing with too many vendors. Not only that, 58% report that less than [...]
According to a 2016 Benchmark Report on the Challenges in Procurement, 80% of senior Procurement executives (100 were interviewed for the report) identify managed spend (as a percentage of total spend) as a key performance indicator. So what does this mean? It means that the value of your Procurement organization is directly tied into its [...]
In the month of April, there were several prominent stories in the news regarding workplace diversity. In this monthly roundup, you will find out: Why a prominent tech CEO is facing threats from his employees. What a major STEM brand is doing to increase diversity in its workforce. How an activist investment capital firm is [...]
Building relationships is crucial to the success of every professional. In order to progress in your career, you have to have the right relationships. You need to be able to build influence. But it’s not easy, is it? You go about your regular workday. You perform your job function. You don’t have time to build [...]
What is your role in the procurement process? Are the methods used by your Procurement Department earning the most value for the company? Are you confident that there isn’t a more effective way for your organization to purchase the goods and services it needs? With companies focusing more and more on optimizing their spend, it has become [...]
Have you ever wondered why certain people in your organization get their way more often than others? I’m sure you have. These people seem to be able to propose any idea under the sun and gain backing for it. They seem to know exactly how to get everyone else behind their new initiative. Their ideas [...]
Is your procurement organization becoming overwhelmed by the amount of vendors it deals with? Is it becoming harder to manage your vendor relationships? Does your Procurement Department fail to understand the benefits of vendor consolidation? It’s a common problem. It’s something many companies deal with, and it can be quite frustrating. Having to juggle so [...]
Embracing supplier diversity is something you know your organization needs to do, but it’s not easy. Yes, it promoting diversity should never be difficult, but it is. While implementing a supplier diversity program can greatly benefit your organization, there are several obstacles you will have to overcome. But it’s not impossible. Creating and implementing a [...]
How many times have you wished you could avoid conflict? If you’re like most people, we spend a lot of time trying to stay away from disagreements at work. We’ve all been there. Let’s just face it. Conflict makes us feel uncomfortable. It’s unsettling and we don’t like it. Unfortunately, when you’re working in an [...]
Okay, so you’ve seen the light and realized the importance of tail spend management. This area of non-managed spend is costing your organization a lot of money. At first, you may have believed your organization’s unmanaged spend was a minor issue. You probably thought the rogue spending only made up a few smaller purchases. Then, [...]
If you want greater control of your company’s procurement processes, a centralized procurement organization may be the best for your company. How often has your company had issues with keeping track of the purchases being made? If your procurement organization is decentralized, it might be harder for you to keep control of your purchasing operations. How much [...]
It’s a dangerous practice that is threatening your company’s bottom line. Every single day, it could be robbing your organization of more of the capital it needs to be successful. Not only that, it also makes your company vulnerable to several threats both internal and external. And the worst thing about it? It could be happening [...]
What’s going on in the fight for greater diversity in the STEM world? In this post, we will take a look at diversity in the news. In this past month of July, diversity has been very prominent in the news. Diversity in STEM fields has long been a hot-button issue. While the diversity in the [...]
