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Best of the Procurious Blog 2015

At Procurious, we pride ourselves on publishing high quality, original and interesting content on our blog. In 2015, we have produced, hosted and provided over 600 articles for our community to read.

Best of the Blog

We were honoured this year to receive a “Highly Commended Company” award in the UK Blog Awards 2015 for PR, Marketing, Media and Comms (we’re hoping to go one better in 2016 and win!) – this is a great achievement for us in our first full year of the Procurious blog.

As we draw towards the end of the year, we’re going to take a look back at some of articles that made a real impact with the community, and sparked discussions on Procurious and across social media.

Procurement Careers

During 2015, much of the focus in procurement and supply chain was on how to attract, retain and developing the best talent, but also on personal development and career progression.

Our most read article of 2015 was from our founder, Tania Seary, who let us all in on her Sure-Fire Tips for Becoming a CPO

We also featured an article on the new Apple CEO Tim Cook, himself a former Supply Chain Manager, and his rise to the top position at one of the world’s top organisations. It’s always great to see a procurement or supply chain professional take the lead in an organisation, as it helps to showcase the value of our function to the wider audience.

We also had top tips when considering a procurement role in Singapore, as well as the skills Generation Y or Millennials need to get a head start in their procurement careers.

Technology Trends

Another of our key themes in 2015 was on the increasing impact of technology on procurement and supply chain. The idea that both procurement and supply chain will be affected by technology in the coming years was a popular one, as well as how organisations could use these technologies to their advantage.

One subject that kept popping up during the year was 3D Printing and how this technology was changing the supply chain. We examined what the growth of 3D Printing meant for manufacturing and outsourcing, which generated plenty of interest and comments.

Entwined in the theme of future technologies was the concept of digitisation and the increasing use of digital currencies and payment mechanisms, such as bitcoin. We highlighted the use of these digital currencies as part of 5 “Megatrends” in technology, as well as how they can be used to assist with supply chain transparency.

Finally, we looked at how technology is disrupting industries and professions, including procurement, as part of an “Uberized” economy, and which technological ‘Unicorns‘ to watch out for in the coming years.

Social Media

No round up would be complete without a look at social media and it’s fast-growing impact on the world of procurement and supply chain. The benefits of social media aren’t clear to all, as we found out when looking at CPO input to networks and social media.

We also offered some insights into the potential pitfalls of social media when using it as part of your procurement and career activities, and examined the role of social media in breaking news events, both from a positive and negative point of view, in the aftermath of the terrorist attacks in Paris.

Best of the Rest

Our round-up wouldn’t be complete without having a look at some of the other popular topics from this year.

Early in the year we highlighted the disruptive forces keeping CPOs awake at night – it will be interesting to see whether these are the same in 2016.

One of our most popular articles from 2014 was also popular in 2015 – our list of procurement influencers. Stay tuned in 2016 to see our updated list!

And finally, late this year we focused on the role of women in procurement and supply chain. As part of this Tania Seary picked out the 10 women who had influenced her procurement career – check out Part 1 and Part 2 of her list again.

We hope you enjoy reading these articles again (or for the first time!). Have you got a favourite from this year? Why not let us know!

Top Tech Gifts For Christmas

Tech trends are changing…

hurricanehank/Shutterstock.com

A recent uSwitch survey suggests that the must-have tech from yesteryear is quickly falling out of fashion, with only 8 per cent of responders lusting after e-readers, and 9 per cent focused on digital cameras. With that in mind we’ve rounded-up what we deem to be the must-have gadgets for Christmas 2015.

Ten lords a-leaping on their hoverboards…

This wheely-wheely good gadget has been making headlines for all the wrong reasons during the past few months.

Commonly referred to as ‘hoverboards’, ‘balancing boards’ or, in this case, a ‘MonoRover’ – this new form of transport will have you zipping down the streets and rolling into your next appointment in record time.

This innovation in personal transportation relies on pointing your toes down to go forward, and transferring your weight to your heels to move backwards.

Prices and availability vary from country to country (as do transport laws!) so we suggest a light spot of Googling will soon have you on your way.

While shepherds watched their drones by night… DJI Phantom 3

Kids big and small have enjoyed the drone boom this year. But with technology advancing at breakneck pace, as well as decreasing costs, those tiny gnats they lost outdoors last Christmas have been replaced by bigger, tricked-out drones.

For the pilot that must have everything, the forboding DJI Phantom 3 quadcoptor comes with 4K video shooting capabilities and can be controlled via a nifty iOS or Android app. A warning though… it’s not cheap, so crashes could prove costly – $1234.99.

OnePlus 2

OnePlus: The smartphone that’s invite only

If you’re growing tired of Apple and Samsung vying for your custom every twelve months then maybe you’re brave enough to try something a little bit different?

The Chinese smartphone manufacturer OnePlus has built an affordable range of phones that dare to challenge tech’s heavy-hitters.

Three handsets have been spotted in the wild to-date (the OnePlus One, OnePlus Two and OnePlus X) and each has required a special invite to be in with a chance to purchase. If the gamble was to up desirability and exclusivity then technology commentators have all but deemed it a success.

OnePlus has recently waived invites for purchases of the OnePlus 2, and also holds weekly sales for the OnePlus X.

Prices start from £289.

3D print your presents!

As we approach 2016 3D printing no longer needs to be confined to factory floors and workshops. If you’ve always fancied yourself as a bit of a designer and the idea of turning your own 3D designs into solid, touchable objects gets your creative juices flowing then a 3D printer could be a worthwhile investment this Christmas.

Home-friendly units are arriving in their droves, some of the more popular names in the 3D printing world include M3D, MakerBot, LulzBot and CubePro – prices start around the £1000 mark and advance into their thousands for larger, more advanced printers. The only limit is your imagination (and wallet).

gopro_hero_lcd_front

No more bad Christmas TV with GoPro Hero+ 

The ideal accessory for gadget afficados and sports enthusiasts alike. If you’re looking for a camera to accompany you on the slopes the rugged Hero+ will survive all sorts of knocks and bumps, while shooting at a constant 60fps.

If you’re more comfortable taking a backseat the Hero+ can also shoot in HD video and produce 8-megapixel stills, plus you can control it from afar using the dedicated iOS and Android apps. It’s waterproof too.

From £199/$199.

(Walking in the) iPad Air 2

If you’re in the market for upgrading your iPad this Christmas, the Apple iPad Air 2 is the absolutely must have gadget.

The iPad Air 2 has squeezed a few extra mm off its predecessors already-svelte frame, while bolstering it with all the technical innovations expected of an Apple flagship product in 2015 (like the new A8X processor and Touch ID fingerprint sensor). Grab the upgrade from $399.

On the other end of the scale and for those looking to supersize their life, the iPad Pro boasts an enormous 12.9-inch screen (2732 x 2049 pixels) and brings you tantalisingly close to laptop territory. Price from $799.

Don’t run out of juice this Christmas… Portable power

If you’re planning on having a gadget heavy Christmas then you’ll be wanting to eek out as much extra life from your devices as possible.

Clocking in at the smaller end of the spectrum, the Anker PowerCore+ mini could equally be at home with your lipstick as your smartphone. With 3350mAh at full charge and compatible with a myraid of personal devices, it’s nicely affordable ($40), and available in a range of eye-catching colours too.

Apple has made its first foray into the battery case market with a smart case that charges your 6S or 6 device.

The case extends your iPhone with 25 hours-worth of talk time, or 18 hours of 4G web browsing, and will set you back £79/$99/AU$165 respetively.

band2

Work off those mince pies: Microsoft Band 2

There’s a glut of wearable fitness trackers available today but Microsoft’s follow-up to its original Band is the most recent and it looks killer to boot.

At the time of writing you’ll be hard-pressed to find a gadget (that’s not a running watch) that’s capable of incorporating both heart rate monitoring and GPS. For that reason Microsoft’s Band 2 is worth a look-in.

Rockin’ around the Christmas tree

And finally… an inexpensive stocking filler. Give the gift of music and curate your own festive playlist for family gettogethers and New Year’s celebrations.

For a limited time Spotify is offering 3 months Premium membership for just £0.99/$0.99. Sign-up using this link and enjoy unlimited, ad-free music for a full 3 months, a saving of £9.99/$9.99 per month. Couple this with the Acoustic Research Pasadena outdoor speaker and you’ll be able to entertain on the terrace or even down on the beach thanks to its 8 hour charge. It’s yours for $99.

Adding Value to Procurement Through Change Management

Rio Tinto’s procurement function is globally known for its high standards and principles. When it comes down to building a world class global procurement department, change management plays a key role.

Photon photo/Shutterstock.com

Ahead of Women in Procurement 2016, Renae Rutherford, Director – Optimisation Delivery, Global Business Services from Rio Tinto, has shared some key insights with us, which will be presented as a case study at the conference. Renae has embraced change management as a strategy in all her roles to help Rio Tinto functions, including Procurement, achieve significant improvement on a global scale.

Challenges and Opportunities

We asked Renae to share the biggest challenges and opportunities Rio Tinto is facing in procurement at the moment. She says that Rio Tinto is in a moment of “more opportunity than challenge, with decreasing commodity prices, business units are depending on procurement to deliver significant cost reductions including managing working capital more effectively. The challenge is finding more value, as we have a mature global & regional category management model that has caught most of the quick win opportunities.”

Renae also identified a number of other challenges for Rio Tinto’s procurement team, including “achieving efficiencies through global process standardisation in Procure to Pay and master data management” and “identifying how best to evolve procurement as part of a cross-functional organisation that is moving towards an integrated business services model, where procurement will operate more closely with other global functions including IS&T, people services, finance services and property”.

Value in Change Management

When asked how change management is helping Rio Tinto manage these conditions, Renae responded: “Change management is a very broad category.”

“The very first module in my change management post-graduate course was self-management skills – and this was a revelation!  All leaders are change agents, and the most capable leaders have excellent self-management skills, which they apply to cope with job challenges and organisational change, as well as propel their own professional development (aka personal change!).”

“People change management skills are essential for identifying others’ reactions to change and helping them work through this fully, in the fastest way possible.  Resolving business challenges typically brings change impacts to our people and it’s important we help them manage this effectively.”

“Organisational change management skills are essential for taking a holistic approach to bringing about and sustaining the change, where changes will not achieve full benefits nor be sustained if they are not aligned with formal and informal people, process and organisational systems.”

Speaking at the Women in Procurement 2016 conference in March, hosted by Quest Events, Renae will be presenting a session focused on how to embrace change management to build a world class procurement function, including Rio Tinto’s approach, lessons learned, and being a change leader.

Leadership and Career Advancement

Women in Procurement 2016 is also addressing leadership and career advancement themes, so we asked Renae to share some useful tips of how she has approached her career progression.

Here are Renae’s 5 recommendations for those aspiring a leadership role in procurement:

  1. Take on every opportunity to learn and develop, especially when it’s different or daunting
  2. Put in the hard work early, to build that depth of diverse experience
  3. Recognise you passions as well as situations that bring our your strengths, and find more like these
  4. Big 4 consulting experience was a significant accelerator – taught me how to learn quickly, how to influence, and how to manage risks with engaging people and leading projects
  5. Be ok with not knowing everything or not feeling comfortable in your role (mistakes provide the deepest learning); when you do feel comfortable, it’s time to move on

To read Renae Rutherford’s bio and find out more about Women in Procurement 2016, please visit the website here or download the conference agenda.

Your Procurement Christmas Booklist

The Christmas holidays are great – plenty of time to relax, see family and relax in front of the fire with a glass of wine and a good book…

If you’re like the team at Procurious HQ, you can’t get enough of procurement, supply chain and leadership related literature, then we’ve compiled a short list for you to add to your bookshelf/Kindle/eReader for the festive period:

Strat-Sourcing-IKEA

  • Strategic Sourcing and Category Management: Lessons Learned at IKEA – Magnus Carlsson
  • A Quick Guide to Procurement (for non-Procurement people) – John Bowen
  • The Procurement and Supply Manager’s Desk Reference – Fred Sollish and John Semanik

Procurement-Mojo

  • Procurement Mojo – Sigi Osagie (procurement capability)
  • The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change – Stephen Covey (change)

Getting To Yes

  • Getting to Yes – Roger Fisher and William Ury (negotiation)
  • The Brand You 50 – Tom Peters (personal brand)
  • Start with Why: How Great Leaders Inspire Everyone to Take Action (leadership)

Screen Shot 2015-12-15 at 12.03.39

  • The Art of Social Media: Power Tips for Power Users – Guy Kawasaki and Peg Fitzpatrick
  • Music Rights Without Fights – Richard Kirstein (marketing procurement)
  • Who Moved My Cheese – Spencer Johnson (change)
  • Winning! – Clive Woodward (leadership)
  • Extreme Ownership: How Navy SEALs Lead and Win – Jocko Willink and Leif Babin (leadership)

That should be plenty to keep you occupied when you are looking to escape the mayhem or avoid another couple of hours of dodgy Christmas TV.

Let us know if we have missed your favourite and put the title in the comments below!

Happy Reading!

Working Capital: The Role of Procurement

Procurement has a central role to play in the effective management of working capital, enabling investment, growth and supply chain efficiency.

This article has been written by Neil Ross, Regional Manager, EMEA Trade Credit.

Working capital is the fuel behind any successful mid-market organisation, representing the amount of cash available at any one time. If managed effectively, it ensures the business is able to invest in new products and services, optimising its existing operations, while also shoring up against future risks. Failure to maintain control of working capital will inevitably force companies to rely on borrowing, often through expensive bank finance, putting further pressure on the business.

There are three primary factors dictating working capital – Days Sales Outstanding (DSO), Days Payable Outstanding (DPO) and Days Inventory Outstanding (DIO). Essentially, if DSO and DIO are too high and DPO is too low, then companies will encounter cash flow issues. Simple economics mean money will be going out of the business faster than it is coming in, so striking the right balance between these three factors is imperative.

The Role of Procurement

Responsibility for the day-to-day management of working capital ultimately sits with the treasurer, whose role it is to ensure the company has the necessary funds to operate and meet its objectives for the months and years ahead. But the treasurer cannot work alone. He or she must collaborate closely with numerous departments across the business to ensure working capital is maximised. The procurement team forms a crucial part of this network.

As the primary interface between a business and its supply chain, procurement can make or break an organisation’s working capital strategy. Procurement has numerous factors to consider within its remit, not least management of cost vs. value from suppliers. However, a fixation on costs alone can be a mistake, masking other factors which can also seriously impact working capital.

For example, high logistics and warehousing costs can make working with a particular supplier unviable. Similarly, the ease of doing business with suppliers is a prime consideration – if their contractual terms or the process of purchasing are overly complex, this will eat up hours of administration time that could be better used elsewhere.

Favourable Payment Terms?

But perhaps the most important working capital consideration for procurement is the ability to negotiate favourable payment terms with suppliers, ensuring that money isn’t leaving the company bank account until it absolutely has to.

Extending payment terms is a popular method used by large and increasingly by mid-market companies to maximise their working capital and cash flow. Research by YouGov on behalf of PrimeRevenue and AIG[1] found that over three quarters of supplier businesses have been asked to accept longer payment terms, potentially holding up over £29bn.

A smart move by buyers you might think? Well not necessarily, when you consider the impact this could be having on the supply chain. YouGov’s research found that these longer payment terms are affecting suppliers’ cash flow (55 per cent), leading to additional administration (33 per cent) and putting a strain on client relationships (29 per cent).

The knock on effects can be huge, forcing suppliers to borrow money at a high cost, or to cut costs in production and investment. These issues ultimately drive up prices or impact quality, potentially reducing efficiency and sales, while increasing risk all along the chain.

Supply Chain Finance

Procurement professionals are now waking up to this dichotomy and looking at a more holistic solution to the problem. This means building greater collaboration with suppliers, fostering mutually beneficial relationships, and minimising the risk for the supply chain in the long term.

One key aspect to this more holistic approach is supply chain finance, a financing tool that enables businesses to offer their suppliers early payment, while retaining their own longer payment terms. This is possible through third party financing based on the credit rating of the larger buyer organisation.

Until recently, supply chain finance platforms have been limited to supporting the largest, investment grade businesses. However, innovative online and credit insurance backed solutions mean that it is now an option for thousands of mid-market, non-investment grade companies. This can offer a working capital ‘win-win’, while also helping to streamline processes for all involved.

With the economy on strong footing, many businesses are in growth mode, with ambitious plans for investment and expansion. But these plans won’t be possible without a comprehensive and strategic approach to working capital management. Procurement has a central role in making that happen. The tools and technology now available mean it has never been easier to optimise working capital, across both individual businesses and the broader supply chain.

Supply Chain Finance from PrimeRevenue and AIG frees up significant funding for mid-market (£100m+ turnover), non-investment grade companies and their suppliers, providing low cost access to working capital on both sides of the transaction. More information can be found here.

[1] AIG and PrimeRevenue research carried out by YouGov. Total sample size was 250 adults with responsibility for invoicing and payment terms within businesses which provide goods and services to large organisations (with revenues of £100m or more).

Businesses were asked how much of their revenue is currently tied up in invoices with payment terms longer than the standard. If these results were replicated across all businesses in the UK which provide goods or services to large organisations they suggest that around £29 billion is tied up in this way.

Can Procurement Set an Example on KPIs?

Metrics, Key Performance Indicators (KPIs), Performance Management – whatever your organisation calls them, it’s almost certain that your procurement team are both measuring and being measured on performance. But are organisations measuring the right areas?

Every week in the procurement and supply chain news, we read reports and headlines focusing on savings and supply chain practices, often highlighting the work organisations are doing to measure these performance areas.

Knowing which elements to measure is tricky, as no two sources will agree on what the ‘best’ metrics are to use. A quick Google search for ‘Procurement KPIs’ comes up with over 400,000 results, with a variety of links to organisations, articles and journals with different views on what constitutes ‘best practice’.

What is clear is from what we read, see and encounter in organisations is that there is a huge volume of resources (time, people, money) being devoted to managing these metrics, but frequently the data produced is poor or the metrics themselves are flawed from the outset.

Defining a Purpose

Anyone in procurement will be able to tell you that the purpose of KPIs is to measure internal and supplier performance across a number of areas. Most of these elements stem from the classic concepts of cost, quality and service. Each indicator focuses on a specific aspect of a contract, has defined what success and failure look like, and should service an organisational need or requirement.

The ‘SMART’ acronym (Specific, Measureable, Achievable, Realistic and Timely) is frequently used in conjunction with the creation of KPIs. Following these steps, the theory is that the KPIs will be both useful and successful and, what’s more, encourage behaviours that drive value.

The Reality

Far too often, however, KPIs in organisations fall short of this. Sometimes it’s because they are poorly defined, other times that they are unrealistic, and frequently that they are measuring the wrong thing entirely. From a procurement point of view, this generally means the focus is on savings and little else.

Externally, suppliers can be given huge lists of KPIs that they are expected to report on as part of their contract. This in turn makes meeting and reporting on KPIs onerous, putting the supplier off focusing on them, and potentially driving behaviours that are carried out to ‘tick off’ the KPIs in order to get paid.

Measuring Intangibles

But examples of good practice are out there. When Ben & Jerry sold their ice-cream brand to Unilever, they were eager for their brand to continue to be associated with the environmental and social activities for which they had gained a great reputation for. This involved the creation of “Social Metrics” – aimed at measuring the social and environmental performance of the brand under Unilever’s auspices.

A difficult task, but one that the organisations stuck with, ultimately creating the concept of “multicapitalism”, a performance accounting system measuring economic, social, and environmental impacts in an integrated way. So far it has been a success, and is setting the bar high for the use of metrics.

This is a good example of performance metrics being used to measure an area that often has intangible outputs.

Taking the Lead

So how can procurement take the lead on creating metrics and measuring performance? If procurement departments are keen to be measured on more than savings, then the organisations need to get their own house in order and create better KPIs for their suppliers.

A recent discussion on Procurious asked about other KPIs to use beyond tracking savings for high value projects. One key point made was to workshop metrics with internal customers to increase engagement. This holds true for suppliers too, and should help to ensure that the right areas of the contract are being measured.

We are not saying that savings trackers should be dropped, but procurement needs to focus on other value areas with suppliers. Once the profession leads by example and stops putting such a high importance on savings externally, the chances are good that this will also happen internally.

Is your organisation setting a good example on KPIs? Tell us what you think and get involved with our discussions.

We’ve scoured the headlines this week and picked out the main ones for you to digest with your morning coffee.

Nations Sign Historic Climate Agreement

  • The COP 21 event in Paris drew to a close last week, with nearly 200 countries signing a new agreement to reduce global emissions
  • The agreement sets a new goal for all countries to collectively reach net zero emissions in the second half of the century
  • The deal includes provision for rich countries agreed to raise $100bn (£66bn) a year by 2020 to help poor countries transform their economies and reduce emissions
  • The deal has been hailed as a significant step in the right direction by global leaders and environmental campaigners

Read more at The Guardian

Jaguar Land Rover Sees Resurgence

  • Jaguar Land Rover reported its best ever November sales, with volumes up by 27 per cent on the same period last year
  • The UK has taken over from China as JLR’s main market, with sales up 70 per cent, but also partly due to the slowdown in China’s economy
  • The high sales in Europe and North America have helped to offset the slower Chinese market, which had been responsible for a weak start to the 2015/16 financial year
  • The organisation is expanding production facilities into Slovakia, with the new plant expected to open in 2018 in order to help meet increasing demand

Read more at Forbes

Twitter fined in Turkey

  • Turkey’s communications technologies authority, the BTK, has fined Twitter 150,000 lira ($51,000.) for not removing content it says is “terrorist propaganda”
  • Although there were no further details on the content in question, it is not the first time Twitter has fallen foul of the Turkish Government
  • In the past, the site has been temporarily banned after failing to remove content following requests, although this is the first time a fine has been levied

Read more at Reuters

Tokyo Police to Launch “Drone Squad”

  • Police in Tokyo are to launch a specialist squad tasked with locating and, if necessary, capturing drones in the city
  • The squad has been set up following a number of incidents involving drones in the city, including a drone landing on the roof of the Prime Minister’s office carrying radioactive material in April
  • The police will use drones themselves to track down possible threats and nuisances, and will patrol high-profile buildings in Tokyo
  • The police drones will be equipped with nets in order to bring down other drones if required

Read more at the BBC

Catalytics – The Next Generation of Procurement

Catalytics® is a business concept that powers Proxima’s new suite of procurement services, delivering triple bottom line outcomes: people, profit and planet.

45 per cent of consumers have revealed that they would stop spending with a company whose supplier practices are called into question. With so much at stake, Proxima the procurement services provider, today announces the launch of Catalytics®, a refreshing approach to managing a complex network of suppliers. 

Working with leading minds in business and academia Proxima has constructed a framework for Catalytics® built on five pillars – Strategy, Structure, Mastery, Culture and Enablers. The Catalytics® framework changes the conventional approach to managing supplier relationships, moving away from the heavy focus on financial metrics and instead focussing more on long-term value-creation.

Risk in the Supply Chain

Jonathan Cooper-Bagnall, Executive Vice President, Commercial Director at Proxima, comments: “Wider forces such as risk, innovation and sustainability critically influence the success or demise of businesses today. Seemingly indestructible brands have shown themselves extremely vulnerable in recent years.”

“Following horse meat scandals, uncapped oil-wells and garment factory disasters; even major European car manufacturers can witness their reputation and finances holed by the risks buried in the chain of command or hidden in the supply chain.”

The reliance on external suppliers for goods and services shows no sign of slowing down. Additional research conducted by Proxima found that the average FTSE 350 organisation spent 69.9 per cent of its revenue with outside agencies, and only 12.9 per cent spent on the in-house workforce in salaries and benefits.

Further, 46 per cent of risk managers in global businesses say supply chain failure is their number one risk. A Catalytics® approach will help to mitigate against supply led risks and, conversely, help businesses drive more value out of their supplier relationships.

 Triple Bottom Line

Catalytics® allows businesses to rethink how they manage complex supply chains in line with Triple Bottom Line (TBL) outcomes – looking beyond the transactions of buying goods or services.

With almost 70 per cent of operational activity performed by suppliers, businesses stand to receive significant benefits from taking a more strategic approach to their supplier ecosystems. 

Catalytics® accepts that companies today cannot isolate themselves from financial, operational and reputational risks in their extended supply ecosystem, and that those same suppliers are a valuable source of competitive advantage.

Cooper-Bagnall concludes, “Organisations must look beyond profit to evaluate their performance and direct their operations. Long-term value creation – for shareholders and other stakeholders – requires leaders to deliver on triple bottom line outcomes: people, profit and planet. Failure to align operations with the principles of TBL outcomes can have serious effects on brand reputation and market position. Thinking differently about supplier ecosystems will allow business leaders to reshape their entire business to meet the new realities of modern business.”

For more information about Proxima’s Catalytics® framework, visit www.proximagroup.com/what-is-catalytics  

Procurious Big Ideas Keynote #3 – How Procurement is Elevating its role

Looking to the future in the Big Ideas Summit third keynote was Chris Sawchuk, Principle and Global Procurement Advisory Practice Leader at The Hackett Group.

Chris spoke about organisational agility and the need for organisations to adapt and move quickly in a constantly-changing business environment.

From a procurement standpoint, Chris argued that it means learning from the likes of UBER and being more customer centric and delivering value beyond cost savings, while being more active in promoting itself as a function.

Watch the full keynote here.

See all the keynotes and panel discussions from the Big Ideas Summit, plus Big Ideas from our 40+ Influencers.

Like this? Join Procurious for FREE and meet like-minded procurement professionals from across the world.

Marketing Procurement – The Most Popular Concepts

Darren Woolley, CEO and founder of marketing consultancy TrinityP3, freely admits that 15 years ago he had no idea what marketing procurement was. Now, curator of a renowned blog on the subject, he is here with a great offer for Procurious members.

William Ju/Shutterstock.com

When I started TrinityP3 Marketing Management Consultants in January 2000 I had never heard of marketing procurement and only had the most peripheral understanding of the procurement function. What led me to starting my own marketing procurement consultancy 15 years ago was a Bachelor of Applied Science degree, five years in medical research and then 15 years as a copywriter and then a Creative Director in advertising agencies.

So I guess, as I have since discovered, probably the typical career path into procurement, meaning typically atypical.

Efficiency and Effectiveness

In April 2006 I started a blog as part of our website. Mostly the posts were opinion pieces based on observations about the industry. If you look back to those days, the articles were short, not particularly in-depth or, for that matter, insightful. It was also irregular and inconsistent. But it was nine years ago. If you are interested, check out the early posts on the TrinityP3 blog here.

Around this time was also when we discovered the marketing procurement function within some of our larger multinational clients. It was interesting to meet people whose job it was to identify ways to ‘assist in managing the marketing process for greater efficiency and effectiveness’.

I use that phrase as it is how we describe what we do at TrinityP3 and what we have found the best marketing procurement people do within their own organisations. It is also why we call ourselves Marketing Management Consultants and not Marketing Procurement.

Strength to Strength

In 2011 we noticed a growing interest in the content on the blog and so made a strategic business commitment to make the blog the centrepiece of our content marketing efforts. This included making sure we regularly published, in fact three times every week, all year round. Okay, we take a week or two off for the holidays.

Within a year the number of people visiting the blog increased 300 per cent and today there is more than 12,000 people reading the blog every week and they come from every continent, except Antarctica of course.

In the early days I was writing most of the posts, but quickly the TrinityP3 consultants began to offer posts on their core competencies such as media, agency remuneration, roster management, digital and data and production. And such is the reputation of the blog, we also have an increasing number of industry thought leaders offered guest posts.

In 2012, we noticed that some articles were getting a much higher readership, sharing on social media and comments. When we looked at the topics that were the most popular, they reflected the issues that were either high profile news or trend in the industry or offered a significant insights or a fresh perspective to common issues. In amongst these were gems on pitches, pitch practice, agency remuneration, including value based, incentive and performance based, scope of work, billable hours and so much more.

Into Print

We decided to capture these popular posts by publishing it as a book. In paperback and e-book, it provided particularly popular. So the following year we did the same. And this year we have done it again. The Top 50 Marketing Management Posts of the Year captures the best and most popular.

But don’t take my word for it. Here is what some of the industry leaders think of the Top 50 Marketing Management Books of the Year:

“Darren Woolley’s Top 50 Marketing Management Post of the Year is a remarkable mosaic of must-read articles and expert opinions that will open your mind, offer new perspectives and challenge you in the process.” – Bruno Gralpois, Author of “Agency Mania” and Co-Founder and Principal, Agency Mania Solutions

“Trinity P3’s Top 50 Marketing Management Posts is a wonderful collection of well-written, insightful blog posts by Darren, his team, and guest writers. They deal head-on with some of the most timely and on point challenges in the industry. Whether you’re a client leader, an agency leader, or industry consultant, this book is a “must read”. – Debra Giampoli, Director, Global Strategic Agency Relations, Mondelez International

“The posts by Darren Woolley and the TrinityP3 team are critical insight. First of all, they provide a glimpse from a unique place in the world — Asia – and yet are truly universal. The collection of top posts gives professionals in our industry fantastic “food for thought” as we go about our hectic lives. He and the team are truly well respected experts and their intelligence is world class.” Sopan Shah, VP Procurement, InterContinental Hotels Group

Exclusive Offer

If you want to lay your hands on this highly-regarded book, follow this link and a free copy is yours when you use the code: Procurious15 (only open to Procurious members).

Happy reading!

Darren Woolley is a scientist by training and a former creative director of JWT. Woolley is the CEO and founder of marketing consultancy TrinityP3.

TrinityP3 is a marketing management consultancy. We challenge our clients, and ourselves, to continuously evolve in thought and approach.

What are the 7 Challenges Keeping PSCM Managers Up at Night?

As the modern procurement division advances to become a part of the whole organisation innovation process, so does the expectations around supply chain and procurement professionals’ performance.

Having a deep understanding of the challenges facing executives who are ascending the procurement ladder is the first step to find strategies and inspiration to overcome them.

Research completed ahead of the Women in Procurement 2016 conference, with Purchasing and Supply Chain Managers from across a variety of sectors, has identified 7 main challenges the modern supply chain and procurement professional must break through in order to achieve the department expected results. Here is a list:

  1. Aligning procurement’s vision with the organisation’s strategy and communicating its value to the entire company
  2. Understanding how technology and processes support supplier relationships and how to lift enterprise innovation
  3. Identifying how to deliver more value to your organisation through strategic procurement
  4. Developing a winning strategy by creating a value oriented procurement department
  5. Inspiring leadership and building meaningful capabilities and skills for your team
  6. Developing the competencies to do business with international partners in challenging cultures
  7. Retaining your best talents

If some, or all of these challenges are keeping you up at night, then you are not alone.Purchasing and Supply Chain Managers managers across the country are looking for solutions to these issues right now.

The Women in Procurement 2016 conference is bringing together a panel of experts to give all in attendance some insights into how leading organisations are addressing these issues. To find out more, download a brochure here.