Tag Archives: procurement discussions

5 Hot Topics on Social Media for Procurement Professionals

Social media makes it even easier to keep you finger on the pulse. But what topics are global procurement professionals discussing right now?

Procurement colleagues around the world are increasingly embracing social media to share their views, concerns, and (most importantly) their success stories. This sharing has the positive effect of broadcasting the value our function brings to any organisation.

As you know, social media runs rings around traditional media in terms of early access to news. We have access to unadulterated commentary from diverse sources, as well as an interactive forum for discussing, rather than just reading about, the biggest issues facing our profession.

From enduring topics such as risk management to disruptive events such as Brexit, this list will give you an idea of what’s keeping CPOs and their teams chatting on Procurious and other social media platforms.

1. Brexit and what it means for procurement

It takes a truly momentous event to catch the attention of procurement professionals all over the world. Brexit was one such event. It generated so many comments, articles and questions posted on social media, that it deserves top spot on this list.

ISM CEO Tom Derry told Procurious that his organisation received hundreds of queries about Brexit’s impact in the US. This prompted them to survey their members to cut through the speculation with hard facts.

Their supplemental “Brexit Report” found that despite the hype, Brexit will have a “negligible” impact on US business decisions in the short-term, with the main concern being currency fluctuations.

We’re still seeing a high level of chatter about Brexit and its potential impacts, but thanks to ISM’s leadership in this area, resulting business decisions in the US are more likely to be based on facts, not fear.

Other political events are also taking major prominence in conversations. However, we anticipate that Brexit will continue to hold everyone’s attention for many months to come.

2. Risk – Managing the unmanageable

Risk is one of those enduring topics in procurement that will never go away – and nor should it. Questions abound on the Procurious discussion board about measuring, managing and mitigating risk, all tapping into collective knowledge and experience.

The discussion board is simply buzzing with questions and answers about risk in procurement. We’ve had members getting their questions answered across a variety of topics, including:

  • Balancing supply chain efficiency versus risk;
  • Segmenting suppliers by risk profiles;
  • Governance and risk management;
  • Travel risk management;
  • Risk and resilience;
  • Avoiding “unknown” risks; and
  • Risk-mitigation KPIs.

The disturbing frequency of disruptive events such as natural disasters, labour strikes, cyber crime and brand-damaging scandals in the supply chain keeps risk firmly in the spotlight for procurement professionals in the US and elsewhere.

3. The e-procurement debate

Choosing the right e-procurement system to support your business’ objectives and targets is a big decision. It’s for this reason that a lot of procurement professionals reach out to their colleagues online for advice on this very topic.

Discussion boards regularly feature recommendations, warnings and also (we’re sorry to say) complaints about the various options available.

Recommendations have focused on the importance of going with a cloud-based system. We’ve also seen debate on whether having multiple “best-of-breed” systems is preferable to the convenience of a single, unified solution.

Procurious members regularly share their challenges around implementation, struggling with overly-complex functionality and looking for advice on winning stakeholder buy-in.

The big systems developers are becoming increasingly aware of the discussion going on online, and are jostling for social media users’ attention to win their business.

4. Capability and training

Hard skills, soft skills, core skills, essential skills…the list goes on. Capability is another of those enduring topics that will always feature in social media discussion in our profession.

Again, the burgeoning choices around what kind of training is required, and how it will be delivered, leads many people to ask for recommendations on social media. There’s plenty of discussion around which certification provider to go with, and also a steadily rising level of interest in eLearning options for procurement.

One question that frequently crops up on Procurious is “What are the most important skills needed in Procurement?”.

This demonstrates that we’re still debating this question as a professional community, despite the training providers out there who claim they have the definitive skill-set. There’s no ‘right’ answer, of course, as capabilities will always need to be tailored to circumstance and industry. But the frequency of this discussion really highlights that the skills needed to be successful in Procurement are in a constant state of evolution.

5. Social procurement

Corporate social responsibility, and the role procurement can play in building a sustainable future, has well and truly entered the mainstream and is now a significant part of every procurement professional’s role.

Social media users are sharing articles and discussions on the many aspects of social procurement, including:

  • Environmental sustainability;
  • Slavery;
  • Diversity; and
  • The role innovation can play in creating change in this area.

Social procurement is one of those topics that tend to be driven by champions such as Alis Sindbjerg-Hemmingsen. They quickly gain a following of like-minded people on social media, and come to be known as experts in their fields.

Hemmingsen is adamant that sustainable procurement is worth fighting for. She has argued passionately that it can be achieved through greater transparency to drive change, having regulators and first-movers showing the way with best-practice collaboration, and integrating sustainable supplier innovation.

Keep your finger on the pulse

Procurement leaders are using social media to stay ahead of the game when it comes to the latest thinking and development in the profession.

Perhaps the most exciting aspects of social media – which you can’t get from reading an article in a traditional industry publication – is the ability to ask a question and receive a solution from someone halfway across the country (or the world) who has experienced and overcome the same challenge as you.

Going Dancing? Deal With This Supply Chain Crisis First!

Planning on going dancing with the nine ladies at the Christmas party? First, there’s a crisis to solve.

9 ladies dancing

The traditional 12 days of Christmas might not start until the 26th of December. But this festive season, we’ll be bringing you the 12 days of procurement Christmas in the run up to the big day. Catch up with the first eight days on the Procurious Blog.

On the 9th day of Christmas my true love sent to me – a work Christmas party! But before you can go dancing, a major supplier calls you with some bad news. Let us regale you with the story of how Procurious saved Christmas!

 

‘Twas the day before Christmas, and I sat in my chair,

Before my computer, pulling my hair.

My colleagues had left for the work Christmas party,

Their voices were merry, their laughs loud and hearty.

 

The plan was to join them once emails were read,

While visions of Christmas treats danced in my head.

“I’ll be just a minute!” I’d shouted with glee.

How little I knew of the fate before me.

 

That’s when my phone gave a shout (what a clatter!)

I gulped – what was wrong? What was the matter?

An earthquake? A flood? My supply chain on fire?

Whatever it was, it was bound to be dire.

 

I picked up the phone with a trembling hand

It was a supplier! “They’ve taken a stand!”

“Who have?” I groaned, completely unmanned:

“Our workers! They’re striking! It’s bad for the brand!”

 

“But it’s Christmas!” I yelled. “The timing is shocking!”

“I think that’s the point?” he replied, knees-a-knocking.

I flew to my laptop and the project I checked

Without those supplies the whole thing was wrecked.

 

I leaped back to the phone: “Forget it!” I said.

“I’ll have to find a different vendor instead!”

Did I have a plan B? A second supplier?

No I did not, and now things were haywire.

 

I scrolled through my contacts, I Googled and Bing’d

Yahooed and LinkedIn ’till my eyes were red-rimmed

As I mentioned before, I was pulling my hair

“This isn’t Christmas-y! This isn’t fair!”

 

I slumped at my desk, my heart pounding sickly,

I knew a supply must be procured quickly.

And that’s when a lightbulb blinked on in my head

“I know where I should be looking instead!”

 

Back to the screen I leapt with a flurry

And typed in “Procurious.com” in a hurry.

This was my chance to stop repercussions

I logged into the site and clicked on “Discussions”.

 

“Please help me!” I typed. “I need a supplier!”

“It’s Christmas! I’m desperate! We’re down to the wire!”

I listed my needs and sat back, all a-quiver

In hope that Procurious would quickly deliver.

 

A minute passed – or two, maybe three

Would this trick work? There’s no guarantee..

But then Procurious.com gave a “ding!”

Someone’s answered my question! I felt like a king!

 

A colleague I’d met on the site was quite happy

To suggest a supplier, a reputable chappy

who could sort out my problems, no matter how vast

And what’s more, will do it surprisingly fast.

 

That’s when I realised my problems were solved

The supply chain was saved, all worries dissolved.

I put on my coat and left with aplomb.

Merry Christmas, and thank you Procurious.com!

From dancing the night away, to leaping barriers to the evolution of procurement. But what skills do procurement professionals need to cultivate in the future? Learn more tomorrow.

ISM & Procurious: Leveraging Social Media in Procurement

Ahead of his keynote address at the Procurious Big Ideas Summit 2016, ISM CEO Tom Derry discusses ISM’s new partnership with Procurious, as well as the power of leveraging social media in procurement.

Leveraging Social Media

ISM and Procurious recently announced a new partnership, as ISM became a Procurious Foundation Partner. This will increase Procurious members’ access to ISM’s highly regarded research, events and educational offerings, from certification programs to the newly launched ISM Mastery Model™. ISM members will also benefit from the rich educational resources and networking opportunities on Procurious.

Leveraging Social Media

Over the last several years, social media has become crucial for connection professionals in all fields — especially procurement and supply chain. I honestly don’t see how anyone can expect to be successful in this day and age without leveraging social media.

Social media gives you access to a broader network than could ever be obtained face-to-face. You have the opportunity to tap into the global repository of procurement knowledge. Why would anyone choose to miss out on this competitive advantage?

Not only that, social media can serve as a news channel providing real-time updates and alerts. How powerful is it that you can be updated on market trends, natural disasters, geopolitical events and much more — all with a tool you keep in your pocket. It’s the agile organisation that survives and thrives in today’s environment, and you can’t be agile if you’re not plugged in to real-time events.

Procurious and ISM

When I first learned of Procurious, I felt it was a no-brainer. Procurious enables the supply management professional to leverage the immediacy of a social network in a in a professionally appropriate medium.

With the focus solely on supply chain, this platform connects professionals working on similar projects and initiatives globally. This adds value in two distinct ways: your building your own knowledge base, but also your personal professional brand.

When I tell colleagues about Procurious, I often hear, “How is it different from LinkedIn?” While there are many similar features, Procurious provides additional advantage for procurement and supply chain professionals. In addition to connecting you globally with those in the field, it gives you the upper hand through education, blogs, event calendars and my favourite — the Discussion board.

Discussions and Communication

I think we have all experienced our work being halted by a roadblock we have not faced before. As procurement professionals, we are often the experts in our organisation, making it feel like this is our mountain to climb alone. Instead of banging our head against the wall, we have somewhere to turn.

Whether you are looking for the right SRM system or a need career advice, the discussion board immediately connects you with others who may have the answer you need. There is strong, practical value in the communication on the discussion boards. One recent post was looking for advice on how to manage stakeholder expectations on procurement lead times.

Professionals from around the globe weighed in with advice on how to communicate the value procurement adds beyond simple considerations of speed and price. It’s just one example of how practitioners can leverage the experience of their peers to facilitate real results.

Looking to the Future

ISM is becoming more engaged with Procurious. We will be launching an ISM group this month. This group will add another place for those connected with ISM to go for networking and and for those new to ISM to discover and connect with us.

I am looking forward to watching the ISM community grow and develop on this platform. I see this being a great place for our members and nonmembers to connect. With more than 50,000 ISM members globally, there is a great opportunity to be had from potential collaboration.