Procurement is a risky business. Procurement managers are responsible for obtaining materials, goods, and services at the lowest reasonable cost—and they are responsible for ensuring that the supplier or vendor reliably provides high-quality goods, in both the present and the future. They must make sure that the organization does not knowingly or unknowingly engage in, support or turn a blind eye to criminal behavior, like bribery. They must negotiate contractual agreements that protect the company against possible disputes, and much more.
Add to those responsibilities and risks the expectation that organizations will commit themselves to corporate social responsibility (CSR), embracing business practices that value and account for more than just short-term financial performance.
But procurement managers are unlikely to have extensive expertise in EHS issues, so EHS professionals have an important role to play in identifying and mitigating the environmental, health, and safety-relat
Every business day, corporate campuses across the country function like small cities requiring highly specialized facilities and logistics management services. This paper will explore effective and efficient Corporate Campus Logistics Services to ensure the efficient flow of materials and people at large multi-building office campuses serving thousands of employees. Corporate facilities, real estate management, logistics and procurement teams as well as commercial real estate management companies are charged with sourcing the services that are the underpinnings of these mega-campuses. It’s an effort that spans a wide range—coordinating the receipt and distribution of supplies, equipment and packages; safely transporting thousands of employees as well as suppliers and contractors to locations within the campus; tracking and warehousing countless materials to support daily planned and unplanned workplace needs. Learn more about lowering costs, streamlining operational efficiency and gaining high employee satisfaction.
Published By: CFO.com
Published Date: Sep 21, 2011
CFO magazine explored trends in the procurement of technology, financial services and other services by U.S. corporations. The study, "The Senior Finance Team and Corporate Purchasing Decisions: Product and Service Investment Plans, Vendor Selection Process, and the Impact of Media on the Decision Making Process" identifies the extent and types of purchases that companies will make, the role of the finance team in corporate purchasing decisions, the criteria used for vendor selection, and the trends and influence of various types of media on vendor choices.
With an industry-wide average 58% of spend going towards services procurement, having a rock-solid strategy and roadmap in place is vital. A lot of practitioners hear the term “services procurement” and immediately think “contingent labor” or “vendor managed services.” The truth is a lot broader and deeper than that.
"Today’s procurement leaders are using technology to achieve greater procedural and financial efficiencies, secure the best products and services, and improve vendor relationships. However with the lack of technology to boost efficiency and strengthen the partnership with vendors and employees, saving costs and speeding up procurement processes can be quite cumbersome.
Industry experts predict that successful businesses will soon become 100% digital for all transactions. The challenge is how to “go digital” in the right ways. Download this best practices paper to learn the eight important ways that procurement teams can make meaningful progress in their digital transformations. "
This paper draws upon recent discussions with dozens of companies that are exploring outsourcing services. Jason Gilroy and colleagues draw upon their years of procurement expertise to provide answers to common questions surrounding the outsourcing of procurement services.
This paper introduces the Procurement Services Provider model and how it can help companies significantly reduce procurement costs for greater bottom line value. The paper published by the Aberdeen Group speaks about the value a PSP can bring to an organization and it showcases ICG Commerce as a pioneer for this new service offering.
Published By: Insight
Published Date: Nov 16, 2017
Enterprises around the world are confronted with new challenges driven by a workforce undergoing massive change on both cultural and technological fronts. Today’s workforce offers the potential to bring together five generations of workers within one company, including “digital natives” — those exceptionally comfortable with the rapid changes occurring across technology. This new, broad workforce is not only powerful in size, but also in its demand for new ways of working.
If the go-go 1990s, with its fast money and flush credit seeking rapid and steep returns, created the demand for "renaissance" Chief Financial Officers ("CFO"), who could manage (and market) both the strategic and financial operations of the enterprise, the more sobering decade that followed led directly to the creation and subsequent rise of the Chief Procurement Officer ("CPO"), who could reduce costs, build internal relationships, and develop strategic suppliers efficiently and effectively.
In today's highly-competitive markets, more and more procurement and sourcing professionals are looking to streamline processes and drive superior performance. In the quest for higher savings, more spend under management and increased compliance, sourcing executives must turn to their own repository of spend data to effectively identify opportunities for savings and gain a deeper understanding of their corporate spend.
The global recession is taking no prisoners. Neither industry, nor region, nor company-size has provided shelter from its impact. Within the enterprise, few business functions have been unaffected. Yet, as this business downturn continues, the Chief Procurement Officer's ("CPO") agenda and the CEO's agenda have started to converge.
The strategic sourcing group has faced myriad challenges over the last two decades, including a fluctuating economy and increased expectations to bolster the enterprise bottom-line. However, the last few years have brought about a new, complex challenge: continue to drive procurement performance while finding fresh cost savings within other areas of corporate spending.
Spend analysis has gradually become the top process in the procurement executive's toolbox, placing itself in the top tier of functionalities alongside e-sourcing, e-procurement and strategic sourcing solutions.
Spend Matters research has long considered Hackett Group metrics to be the gold standard of P2P benchmarking. As part of the collaboration for the research for this report, Hackett agreed to share with Spend Matters some of the findings from its latest P2P benchmarks.
Spend Matters has long argued that spend visibility and contract management have always been two sides of the same coin. Companies can leverage an integrated spend analysis, contract management and P2P solution set to institute real-time controls to validate a number of possible spend variables.