Procurement Whitepaper & Media Center
ProcureCon Canada 2017 State of the Industry Report
It's crystal clear: the procurement function has evolved. Today, practitioners have moved on from just traditional sourcing and purchasing to being ultimately responsible for all strategic cost savings.As a result, a strategic approach is no longer an option - it's a must. The question is: what strategies are needed to achieve the ultimate in demonstrable savings and value? Find out in the report and at ProcureCon Canada 2017!
The MSP Playbook: A Practical Guide to Managed Services Programs
MSP buyers look to service providers to address a host of contingent workforce needs such as cost savings and avoidance; a shorter time to fill; enhanced quality of talent; greater spend visibility; compliance; scalability; and efficient management of suppliers. However, mature buyers in established markets have moved beyond these initial motivators to seek out greater value from their solution providers.
CPO Insights: The Rapid Expansion of Supply Chain Risk Management - Are You Prepared?
Former Fannie Mae CPO Joe Yacura draws upon 25 years of supply chain experience in a number of world class organizations to ask whether today's procurement and supply chain teams are fully prepared for new expectations around risk management. In this must-read resource for savvy sourcing and procurement professionals, you'll learn: How to win the war against BIG data in your procurement organizationWhy supply chain risk is rapidly becoming the overarching concern of top executives8 key factors to examine when designing your organizations process for managing supplier performance and riskIf you want to maximize the results from your procurement team, this guide is for you. Download your copy today!
9 Steps to Effective Supplier Due Diligence
Recognizing the seriousness of enhanced enforcement in Canada and globally, LexisNexis developed this guide outlining the 9 Steps to Effective Third-Party Due Diligence. It helps ensure that firms have the insights needed to avoid financial and reputational harm due to third-party relationships.
AI Driven Use Cases for Enterprise Procurement
Seal AI Helps Provide the Insights Needed by Procurement Teams How many contracts do we have?Where are all the contracts? What's contained in the contracts? Which business processes rely on which contract terms? Who is managing your contract obligations? How can I get more visibility into my contract outcomes?
Transforming Indirect Procurement into Profits
Indirect expenses have a direct impact on the bottom line yet are often overlooked by companies focused on more strategic expenditures. When looking to reduce costs, areas such as inventory and headcount seem like the best place to start, since indirect expenditures can mistakenly be viewed more as fixed costs, presenting less flexibility in terms of offerings and rates. While direct procurement plays a strategic function in production and is most likely assigned to a procurement professional, this often results in limited time and resources remaining for indirect expenditures. However, indirect procurement needs to start being seen the same way administrative staff is, as having a key support function that directly impacts the overall success of a company’s daily operations.
Retail: The Direct Impact of Indirect Costs
There is a misconception when referring to retail that brick and mortar stores are falling by the wayside while e-commerce takes over the world. However, in 2017, online and mobile purchases accounted for only 10% of global retail sales. Retailers may be relocating and consolidating their stores, and a few big-box retailers may be struggling, but consumers still crave a tangible experience only physical stores can deliver. Although consumers are comparing features and prices online, brick and mortar stores provide them with a shopping experience that reaches beyond the transactional, solidifying the retailer’s brand and acting as a differentiator. However, the availability of less expensive alternatives manufactured abroad, combined with easily comparable local pricing, means retailers need to look beyond increasing their price points if they want to improve profitability while remaining competitive. The answer lies in reducing costs.
Exploring Your Contingent Workforce Ecosystem
Today, the contingent workforce is made up of many faces and these faces are hiding in plain sight. They function inside your organization, or on the periphery, largely undetected by HR. These workers are your directly sourced temporary workers, interns, consultants, freelancers, SOW and contract workers, as well as independent contractors. You?ll find them in IT, technology, engineering, health care, transportation, retail, and more. According to recent estimates, the contingent workforce can represent as much as 35%of the total workforce in most organizations. Meanwhile, organizations consistently underestimate the size of the contingent workforce among their ranks. The result is a general lack of visibility on contingent workforce headcount and spend. You can?t manage what you can?t measure, so this lack of visibility can lead to organizational inefficiencies, higher workforce costs and poor decision-making based on incorrect assumptions as to the true makeup of the organization?s workforce.
Procurement Winners' Chronicles
A leading global bank invests in savings transformation through Zycus spend analysis.
ProcureCon Canada Director's Report 2019
Beyond simple sourcing and purchasing, the procurement function in many organizations continues to evolve, with the establishment of new roles, and increasing responsibility for broader strategic cost savings. A demonstration of value is now essential to the procurement function - as is the need for those in the profession to perform with a strategic rather than a tactical approach.For many organizations, this imperative presents a dilemma, as procurement teams may be unsure of how to act both effectively and strategically. Furthermore, establishing the best and most cost-effective ways to transform the organization remains an issue of concern.
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