Tag Archives: THOMASNET

The Hunt Is On For 30 Under 30 Millennial Role-Models

Do you know a young gun who’s already making their mark on the supply management profession? Perhaps you’re one yourself? Nominations are now open for ISM and THOMASNET.com’s “30 Under 30” Supply Chain Stars program. 

It’s already happening. In companies large and small all over the globe, Millennials are being asked to step up into very senior roles to fill the vacuum created as an entire generation of Baby Boomers retires.

The generations in the middle, X and Y, are also moving into executive roles, but the problem is that there simply aren’t enough of them to do so. That’s why Millennials are leap-frogging through the ranks in nearly every profession – include procurement and supply management.

The talent pipeline in procurement

Back in 2014, ISM and THOMASNET.com recognised that there was a concerning gap in the talent pipeline. The 30 Under 30 award was subsequently launched to celebrate and broadcast the achievements of young professionals in an effort to bring more Millennials into the profession. The program is making headway. ISM reports that only 17% of the 2014 cohort had planned for a career in supply management, with most “falling into” the profession instead. By 2016, this figure had risen to 40% as an increasing number of school leavers began to seek out tertiary-level supply management courses.

“It’s really important to have role models in the profession”, says ISM’s Chief Content & Engagement Officer, M.L. Peck. “When young people see others their age who are receiving recognition for their contribution, it helps demonstrate that supply management is a viable and exciting career choice.”

ISM’s CEO Tom Derry encourages managers to nominate deserving superstars for the 2017 30 Under 30 award. “Our goal is to build awareness and enthusiasm for this exciting profession by showcasing the talent and accomplishments of these dedicated young professionals.”

Who can apply and what are the judges looking for?

Nominees must be 30 years of age or younger as of December 31, 2017.  Peck says that the judges will be looking for young people who are already making their mark on the profession and have demonstrated qualities such as leadership, innovation, collaboration, creativity and a contribution to supply management in their organisation or to the larger industry.

International nominations welcome

Originally for U.S. professionals only, the program was opened last year to international applicants to reflect the increasingly global nature of supply chain management. While only 3 of last year’s group of 30 were based overseas, many of the American winners had significant overseas experience.

What’s the prize? 

  • All 30 winners will receive a one-year membership to ISM, complimentary admittance to ISM2018 in Nashville (valued at $2,295), and a THOMASNET.com Team Training Package.
  • One individual will be designated as the Megawatt Winner and will also win an all-expense-paid trip (up to $5,000) to ISM2018 for themselves and their nominator.
  • For the first time, THOMASNET.com and ISM are offering a special Early Nomination incentive this year. Those who submit a nomination by Friday, October 13, 2017 at 30under30.thomasnet.com will receive a free month of ISM Just in Time Learning along with a mug and free coffee gift card from THOMASNET.com.
  • Most importantly, the winners will gain widespread recognition as their achievements are celebrated and broadcast through industry journals, blogs, magazines and newspapers locally and globally.

Do you have a Millennial supply chain star in mind for the 30 Under 30 awards? Nominations are now open – visit THOMASNET.com for more information. Nominations close Sunday December 3rd. 

Who to follow on Twitter at #ISM2017

Heading to ISM2017? Digital-savvy delegates know that alongside the audible buzz of conversation heard at the event, there’s another rich dialogue taking place – on social media.

With an estimated 2,500 supply chain and procurement professionals en-route to ISM2017, there’s a lot to look forward to. From 21st to 24th May, delegates will share knowledge, learn and network with peers and industry leaders at the stunning  Disney Coronado Springs Resort in Orlando, Florida.

A stellar line up of speakers includes keynotes from former UK Prime Minster, David Cameron, Former Chairman of the Joint Chiefs of Staff, General Colin L. Powell and owner of Difference Makers Consulting, Annette Gregg.

But, before you print your tickets and hop on that plane, take a few moments to ensure you’re social-media ready. If you’re not keeping up with what’s happening online, you could be missing out on key information or opportunities!

First up, Procurious has an ISM group, which will keep you updated on all things ISM, including related articles and updates from the event itself.

Twitter has already seen a buzz of activity around the official event hashtag, #ISM2017. If you’d like to keep up to date with all of the online chatter but are struggling to know where to begin, this handy guide will get you off to a flying start.

And remember, even if you’re unable to attend the event in person, these social media channels are a fantastically convenient way for you to engage with and learn from some of the event’s key discussions.

Here are our top recommendations of people to follow on Twitter for ISM2017:

  1. Institute of Supply Management

    Let’s start with the obvious. There’s a number of key ISM Twitter accounts to follow via:

ISM’s official account: @ISM 

ISM’S official magazine account: @ISM_Magazine  (And a small heads up – The May issue of the magazine will be in your conference tote bag) 

ISM’s Chief Content and Engagement Officer, M.L. Peck: @MaryLuePeck She’s the brains behind a lot of the ISM initiatives you’ll see launched during the conference. She’s also a very strong advocate for women in procurement. 

2. Procurious

You can bet that our representatives from team Procurious will be out in full force throughout the conference.

Procurious Founder and CEO Tania Seary will be delivering her top tips on how to Network Your Way To The Top on Tuesday May 23rd, 3.45pm. And Hugo Britt, Procurious’ Content Director will be blogging and tweeting from some of the top sessions so both those in attendance and the wider procurement community can stay  informed.

When we’re not blogging, you’ll be able to find us in the exhibit hall at booth 439; we’d love for you to come and meet us!

Follow us on Twitter via: 

Procurious’ official account: @Procurious_

Tania Seary: @TaniaSeary

Hugo Britt: @HugoBritt81

3. Spend Matters

Spend Matters will be releasing the ‘50 Providers to Watch’ and ‘50 Providers to Know’ lists for 2017 at ISM2017. Besides highlighting some of the best in class procurement providers, they will also place a spotlight on relative (and promising) newcomers in the space.

Follow Spend Matters via @spendmatters 

4.  MFG Talk Radio

Instantly recognisable in their bright yellow jackets, the team at Manufacturing Talk Radio are the voice of manufacturing globally. Their live radio show broadcasts online to listeners all over the world in all manufacturing industries.

They’ll be conducting interviews with some of the best and brightest minds in procurement and supply chain to hear their thoughts on the current state of affairs and where the industry is going to go from here.

Follow MFG Talk Radio via @MFGTalkRadio

5. Lara Nichols,  SVP Head of Procurement NFP

Lara is Chair of the ISM2017 Conference Leadership Committee and co-leads the Bottom Line Learning Track.

Lara will be presenting a session at ISM2017 entitled Are Your Contracts Doing Their Job? where she  will be joined by Tim Robb, EVP General Counsel, NFP.

Last week Procurious caught up with Lara who gave some excellent advice on how to get the most out of ISM2017, revealed what she’s most looking forward to and explained how to not Bore the Board!

Follow her via: @LaraNichols 

6. Brendan O’Connell, Director Design, SEO & Social, ThomasNet

Brendan will be at Booth 526 with the ThomasNet team supplying Supplier Risk and Evaluation Reports. He’s very active on Twitter and sure to keep you up to date on everything that’s happening in the exhibit hall!

Follow Brendan via: @BrendanOConnel

 7. Daniel Perry, Senior Account Executive, EcoVadis

Daniel will be representing Ecovadis in a panel discussion on Sunday 21st May, titled Do you Have a 360 Degree View of your Suppliers?  In his own words, Daniel wants to “save the world by improving the sustainability of global supply-chains”.

Follow Daniel via @DanielRossPerry

Are You Considering Chasing A Procurement Career…?

…according to most of the ThomasNet and ISM 30 Under 30 Rising Stars, going after a  procurement career is a cracking idea!

Last month, THOMASNET and ISM announced the 2016-2017 winners of the 30 Under 30 Rising Supply Chain Stars award, presenting the profession with an inspirational batch of role models who are sure to attract more Millennials to the supply management profession.

Procurious has been lucky enough to sit down with many of the winners to find out what the award means to them,  how they got into procurement in the first place and the key skills needed for a procurement and supply chain career.

We were interested to find out what advice the winners had for any students contemplating a career in supply management. Answers varied wildly, covering everything from “make sure you have fun” to “ask loads of questions” and  “do the things that scare you the most!”

There was one recurrent theme, however:  The 30 Under 30 Stars are all adamant that a career in procurement and supply chain is the way to go!

Opportunities Aplenty Await You In Your Procurement Career

Jon Futryk, Senior Sourcing Specialist Crown Equipment Corporation, advises young professionals to “get involved with a supply-chain organisation in order to gain exposure to the industry”.

Andrew Bagni, Procurement Manager at General Dynamics Mission Systems, concedes, asserting “it’s a great career path for anyone, because there are so many opportunities for growth. In the US, manufacturing companies are bringing their facilities back home, a move that needs to be supplemented with a strong supply-chain team.  This is a great opportunity for young people to be involved”.

Dan Kaskinen, Strategic Sourcing Manager, Sonic Automotive, Inc., is another strong advocate for the profession: “My advice to any young person getting ready to join the workforce is that supply-management could be a great fit – I would fully recommend it.”

Benefiting From Diverse Experiences

Several of the 30 Under 30 winners make mention of the varied experiences on offer within a supply management career and advise any young professionals to make the most of these opportunities.

Barbara Noseda, Global Sourcing Associate at Johnson & Johnson explains why this is a brilliant way to diversify your skills: “At JNJ people transition between finance, operations, marketing and supply-chain. Movement between functions helps you build your knowledge and helps you to better understand your counterparts.”

Andrew Bagni agrees, explaining that “working in supply-chain offers a plethora of  opportunities. Over a lifetime of work you’ll switch between a variety of positions. Supply chain gives you the flexibility to learn about a lot of different things, very quickly, which builds a great foundation. There are so many different projects to work on and it’s possible, particularly for millennials, to move up the ladder but also to move laterally to widen your learning prospects.”

Nurturing Your Procurement Relationships

Of course, this wouldn’t be a piece about procurement careers without mentioning relationship management. In our previous article we revealed that the majority of the 30 under 30 stars hailed communication as the most important procurement skill. Now, they’re keen to remind aspiring procurement pros to make the most of their workplace relationships, whether it’s networking, managing supplier relations,  finding a mentor or doing the mentoring.

Barbara is particularly passionate about mentoring programs. “I’ve had multiple mentors. One was assigned to me at Johnson & Johnson and I was very lucky because we clicked; it just doesn’t make sense to have a mentor relationship if you don’t. I would strongly advise young professionals to find a mentor that they share the same values with. It’s always great to get an external opinion from an experienced person who went through the same thing 20 years ago”.

Barbara is now a mentee and a mentor for younger employees. “It’s great to be on the other side – I’ve also learned a lot, and got a lot, out of being a mentor.”

Jeff Novak places huge value on networking and the chance benefits it can bring: “Having the ability to meet people is so important because you never know when it’ll be someone who can help you and make a real impact. I completed an internship a while ago, and  one of my recruiters is now on an ISM regional board. I’ve been able to connect with him.”

Matthew Montana, Category Lead at Pacific Gas and Electric Company, warns young professionals to not get too caught up with technology or big data. “Don’t forget your suppliers are real people too! It’s important to develop relationships that are transparent and honest. This is the key to a successful partnership.”

More top tips for budding supply management stars

  • Develop your Cultural Intelligence (CQ)
  • Work hard and keep learning/ gaining new qualifications
  • Ask lots of questions
  • Be curious
  • Be resourceful
  • Have the patience to accept you don’t know everything, yet!

The 30 Under 30 Rising Supply Chain Stars will meet for the first time as a group at ISM2017, where ISM and THOMASNET.com will roll out the red carpet to celebrate the winners’ achievements and broadcast their success stories to other young people considering a career in supply management. 

Transparency: Is Your Supply-Chain Crystal Clear?

Organisations are under increasing pressure to improve on supply-chain transparency but meeting these demands is easier said than done…

Improving supply chain transparency is a high priority for companies, especially in industries such as foodservice where consumers and regulators are pushing for more publicly available information on how products are made and delivered. Increasing product complexity—growing demand for organic and gluten-free foods, for example—as well as food safety and security concerns, continues to drive the demand for more transparency.

How Can Organisations Meet These Demands?

Responding to these demands is no easy task. The fragmented nature of the supply chain can make it difficult to achieve the kind of consensus that is needed to create efficient, end-to-end monitoring systems. However, as the industry responds to the need for more transparency, there is a huge opportunity to take a leadership position. Key to developing the level of transparency that is now expected is changing the behavior of stakeholders and harnessing the power of data visualization technology to present abundant data in easily understood and actionable formats. With these changes in place the industry can open the way to innovations that could take supply chain performance to a new level. Moreover, the journey provides some valuable lessons for other industries that are striving to meet market demand for increased supply chain transparency.

Companies in the foodservice industry sell food that is prepared and served in venues outside the home (the most familiar outlet is restaurants). A complex supply chain that stretches from agricultural growers across the globe to end consumers supports each restaurant. The supply chain also includes manufacturers, freight carriers, forward warehouses, distribution centers (DCs) and third-party logistics providers (3PLs). Many of these players tend to operate in silos that can impede the end-to-end flow of information.

What Challenges Does Data Present?

Data latency represents one of the most difficult hurdles. For example, some trading partners share daily inventory and sales information in single, large batches; by the time the data is uploaded into supply chain visibility tools, it may be too old in “food time.”

The veracity of data is another challenge. There are many reasons why inaccuracies creep into supply chain data streams. An overarching problem is a lack of widely adopted, consistent standards for exchanging data. There are also various operational issues to contend with. An example is the reuse of product numbers and warehouse identifiers without alerting trading partners to such changes.

Untimely or inaccurate data is always an issue, but particularly in today’s highly variable consumer environment. Demand for food products can be unusually volatile because shifting consumer preferences influences it. Some peaks in demand—for example, when a restaurant dish suddenly becomes popular because a celebrity tweets about it—are almost impossible to anticipate.

Industry Fragmentation

The industry fragmentation described above compounds such problems. In a fragmented environment, trading partners tend to optimize locally. For example, a DC might build safety stock of a critical product for a favored restaurant chain that is not visible to other players. Unseen inventories scattered across a supply chain cause significant inefficiencies.

Add the dramatic increase in the volume of data to the mix, and it becomes clear that operational models have opportunities to improve before the industry can deliver the levels of supply chain transparency that are expected in today’s world. These changes are within reach—and many are being implemented.

Changing behaviours to tackle supply chain transparency

One of the first steps to overcoming these problems is to change the behaviors that cause data errors and latency.

For example, Armada, a Pittsburgh-based fourth-party logistics provider (4PL) to the foodservice and retail industries, is working with DCs and other entities to make sure that the inventory and shipment data they provide is as near to real-time as possible. Huge improvements are possible by simply rethinking the way data is managed and shared, and by breaking down operational silos.

Changing stakeholder behavior lays the foundation for the new technology that drives greater supply chain transparency. At Armada, this emerging technological base has two key elements.

First, an integrated platform allows the company to receive data in multiple formats such as EDI. Second, Armada is working to fundamentally change the way this data is stored and accessed for clients and their network stakeholders. For example, the practice of generating reports from data stored on applications is no longer sufficient. Data warehousing and extraction as well as business intelligence capabilities are being built to support the high-volume information management systems that are now needed.

This is not cutting edge—but harnessing these capabilities to develop tailored visual displays of complex data represents new territory for foodservice supply chain practitioners.

Why traditional methods won’t do

Traditional methods of displaying and analyzing operational data through columns and rows aren’t enough if the goal is to redefine supply chain transparency. In addition, practitioners need faster, more effective ways to consume and use the large volumes of data now available. And it is likely that the flood of data will increase over the next few years.

Importantly, much of this data needs to be configured for mobile technology platforms that are growing in importance. An example of an innovative display format is an “items at risk” dashboard that shows when items in specific DCs are reaching stock-out levels based on lead times.

These are exciting innovations, and the industry is only at the beginning of this journey. For instance, there is huge potential for developing more advanced analytics. The ultimate analytical goal is to develop systems that automatically identify potential problems and trigger remedial action.

Consider, for example, a case where the “items at risk” screen shows that an item is nearing an out-of-stock situation. The system automatically initiates a transfer order from a DC that it identified as a source of additional stock. The DC is notified, and the order approved without having to engage unwieldy manual procedures. Moreover, the system issues alerts and updates to designated managers via their mobile devices.

This article was originally published on Supply Chain MIT  via the ThomasNet Blog

Rising Stars: I Fell Into Procurement (With Style!)

Did the ISM and ThomasNet 30 Under 30 Rising Stars always have a burning desire to embark on a procurement career or were they late converts? Procurious investigates….

Last month, THOMASNET and ISM announced the 2016-2017 winners of the 30 Under 30 Rising Supply Chain Stars award, presenting the profession with an inspirational batch of role models who are sure to attract more Millennials to the supply management profession.

Procurious has been lucky enough to sit down with many of the winners to find out what the award means to them, what it takes to be one of the  30 Under 30 Rising Stars and the key skills needed for a procurement and supply chain career.

But how did these rising stars first embark on their careers? Were they passionate about procurement from the offset or did a chance encounter or inspiring internship inspire them to “fall into” procurement later down the line?

Andrew Bagni, Procurement Manager at General Dynamics Mission Systems recalls that “ten years ago supply chain wasn’t as hot a topic as it is today. Specific supply chain degrees weren’t offered at my college at the time but this is now an option for students.”

Perhaps it’s not surprising, then, that 66 per cent of this year’s 30 Under 30 Stars didn’t plan a career in procurement.

The Slow Burners

Bagni applied for an internship with General Dynamics “in the hope of gaining some of the business experience l was lacking at 18 years old! I  worked the internship for the summer, which went really well and carried on throughout college whilst I was studying business management. It’s not been a lengthy career so far but the whole of my career has been spent working in supply-chain despite having fallen into it completely by chance.”

Nick Imison, Subcontract Administrator at Northrop Grumman Systems Corp, had a similar experience to Bagni: “I fell into it sideways. I was a finance major. I went to job trade fairs, interviews, and just wasn’t passionate about finance. One day I stumbled on a supply-specific career fair, which was put on by the University of San Diego who push undergrads and postgrads to the supply chain field. They were very convincing and introduced me to the many sides of the business, giving me a holistic view. That piqued my interest and, from there, I enrolled in a few supply-chain courses.

Corey Gustafson, Senior Buyer at Deluxe Corporation initially attended school in Wisconsin to train in engineering, ” I went on a programme  that focused on the printing industry including graphics and communication management and eventually  started taking a procurement and supply-chain management course. The instructor happened to be the program director for the supply-chain programme and it was the best course I’ve ever taken. I was interested in the way the function  impacts the business and wanted to continue with to focus on that.

The Die-Hard Procurement Pros

Not all of the 30 Under 30 winners came to procurement by accident, however.  Barbara Noseda, Global Sourcing Associate at Johnson & Johnson, has a particularly notable passion for, you guessed it,  shipping containers! “I know it might sound random” she says, “but I swear it’s the truth! I did my bachelors degree agree around shipping and logistics in Hong Kong and  then went into supply chain.  Even  today, every time I can get on a project about shipping containers I jump on it.”

Matthew Montana, Category Lead at Pacific Gas and Electric Company, was also interested in supply-chain at the offset, “supply-chain really caught my attention. I liked the analytical aspect and qualitative aspect. There’s a good balance between creative thinking and working with numbers. It’s the balance of quantitative and qualitative that really drew me to supply chain.

And Matthew has another reason to be passionate about procurement. His father also works for Pacific Gas and Electric. “He’s been in supply chain for several years now. Growing up and seeing him work there and seeing how good the company has been to him and his good career influenced me. It’s a good company and a good industry. I had inside info and insight from him so he was one of my mentors early on.”

Amanda DeCook, Sourcing Associate A.T. Kearney, knew exactly where her career was headed, “I knew which University I was going to and I knew I wanted to pursue a Business Major. Michigan State University’s Eli Broad College of Business has the best supply chain program in the USA, and I loved the tangible,  practical skills involved in the course.”

Indeed, several of the 30 Under 30 stars credit their colleges for propelling their careers. Jeff Novak believes his “college had a lot to do with [his career choices]. I went to Penn State Uni,  which is one of the top supply-chain schools in the states, if not the world. It seems that however your procurement or supply-chain journey starts out, you could have a vibrant and successful career ahead of you- take it from the 30 Under 30’s!

The 30 Under 30 Rising Supply Chain Stars will meet for the first time as a group at ISM2017, where ISM and THOMASNET.com will roll out the red carpet to celebrate the winners’ achievements and broadcast their success stories to other young people considering a career in supply management. 

Talk About A Revolution: The Smart Factories of The Future

You say you want a revolution? Well, you know, all procurement pros want to change the world… Perhaps that starts with the smart factories of the future, which will need to embody innovation. 

Revolution is in the air. Smart factories of the future will need to be innovative, nimble and smart; constantly changing and improving on the back of intelligent use of data. Professor Robert Harrison explains the challenges and opportunities for forward-thinking manufacturers.

If you haven’t heard of smart factories yet, you’ve probably heard of Industry 4.0 or the fourth industrial revolution. Smart factories are the next big predicted change to affect manufacturing, causing a new revolution in industry.

By integrating technology and information in real time, traditional factories will turn from cost centres into profitable innovation centres. Cyber-physical systems (CPS) will monitor the physical  processes within modular structured factories, and a virtual copy of the physical world will be mined for data in real time, enabling decentralised decisions.

What’s all the smart factory fuss about?

These new systems could, for example, identify run-time optimisation by feeding back information related to product, process and production resources, or identify best engineering re-use. We will be able to be ‘smart’ in our manufacturing choices, from product design and evaluation, right through to manufacturing, the supply chain and service provision.

The increasing availability and use of distributed industrial CPS devices and systems, if aligned with the Internet of Things (IoT) and Internet of Services (IoS), could radically change the nature of manufacturing and provide new opportunities to develop more-effective, finer-grained, and self-configuring automation systems.

To achieve this, manufacturers will need to make changes. To realise effective CPS for industrial automation implies the need for engineering tools capable of supporting distributed systems. This is coupled with a major shift in emphasis from traditional monolithic, specialism-based, isolated engineering tools and methods, towards integrated, cloud-based infrastructure based around an IoS and associated data.

So what’s the problem…?

Current automation systems engineering methods are frequently criticised for their poor performance in supporting re-use, and are often unable to effectively validate automation solutions across supply chains. Integration between real and virtual systems is often less than ideal, which makes it difficult to plot an efficient automation system lifecycle from specification and design, through to commissioning, validation, operation and reuse of systems.
Simply put, the engineering process we have at the moment is disjointed and it could be so much smarter.

Another oft-cited problem is that the majority of the automation tools currently at our disposal are vendor-specific and support largely closed control environments. While they may offer good point-solution functionality, are well supported, and can deliver robust operational systems, they often have limited agility.

These factors lead to delays and ultimately to poor lifecycle uses of information, with lessons learned not being fed back into subsequent iterations of the system.

… and the solution?

Cyber-physical systems are distributed, heterogeneous systems connected via networks, and usually associated with the concept of the IoT. The vision for the new CPS lifecycle is one of seamless integration between engineering build and operational phases.

The digital model continuously updates to and from the physical system, and lessons learned are fed back into subsequent refinements of the system, making them ever smarter.

At WMG, we focus on the design and implementation of automation, systems engineering tools and methods adapted to the specific nature of CPS. Part of a new engineering software environment – vueOne – is currently being used to support Ford’s virtual engineering activity in powertrain assembly in the UK. vueOne is also being used to support engineering of battery and electric motor make-like-production systems in partnership with a range of automotive companies.

Properly supporting the full manufacturing lifecycle is important if we are to maximise the business benefits for the smart factory. At a simple level, once a digital model of a production station has been created, this information can be utilised via apps on mobile devices to enable support for production systems on the shop floor. This may be in the form of viewing digital data for monitoring and maintenance purposes.
However, in more sophisticated scenarios, augmented reality can be provided, overlaying key system information visually over physical views of the production system, and to support this we’re currently developing a suite of mobiles tools.

A key aspect of smart factories that will ensure they are truly successful is having a pipeline to progressively develop and then maximise the impact of innovative automation systems. For example, developing proof-of-concept systems from bench-top demonstrators, through full-scale pilot implementations, make-like production lines, and ultimately to factory installation, working closely with industry partners at all phases of this activity.

This article was originally published on The Manufacturer, via the THOMASNET Blog

One Skill To Rule Them All

Want to know what it takes to really make it in the procurement world? Cognitive tech expertise? A firm background in supply management? Nope – 72% of the ISM and ThomasNet 30 Under 30 Stars agree there’s another, essential ingredient to success…

Last month, THOMASNET and ISM announced the 2016-2017 winners of the 30 Under 30 Rising Supply Chain Stars award, presenting the profession with an inspirational batch of role models who are sure to attract more Millennials to the supply management profession.

Procurious has been lucky enough to sit down with many of the winners to find out what the award means to them, what it takes to be a 30 Under 30 Rising Star and how they embarked on a career in supply management in the first place. We’ll be revealing all of our findings throughout this series of articles but first up, what key skills are the winners acing?

You can forget prioritising the development of your tech skills. It turns out that communication is absolutely the crowning glory of all procurement skills.

Communication is king

72 per cent of 30 Under 30 winners named communication as one of the top three skills that have been essential for their success, which is unsurprising given the nature of most procurement and supply roles. Nick Imison, Subcontract Administrator at Northrop Grumman Systems Corp,  reminded us, “You often have an extremely short period of time to capture someone’s attention, explain why you need to go down a given path and  effectively relay what it is you’re trying to accomplish.”

Corey Gutafson, Senior Buyer at Deluxe Corporation, explained that he had to hone his communication skills very quickly at the start of his career. “If I’d had to do a five-minute presentation when I was in high school, I might have passed out from nervousness.  But communication in supply management is HUGE! Whether it’s via email, on the phone, presenting online or in person, we’re always talking with many different stakeholders and suppliers. If you’re not a good communicator, you’re going to have a difficult time.”

Barbara Noseda knows a thing or two about communicating under different circumstances. As a Global Sourcing Associate at Johnson & Johnson, she is very much in a global role which might mean she begins the day focusing on Europe and ends it with Africa. As such, she sees enormous value in being conscious of global differences and managing these, as well as being able to communicate effectively internally. “I’m a big fan of CQ (Cultural Intelligence) and I think it should be given much more importance. But internal communication is also important. As a sourcing associate, I often find myself talking with CEOs, having  to explain what I want and packaging it in a way that means they see the benefits.”

Know your data

“It might be cliché but in today’s world you have more data at your fingertips than ever, which means data analysis skills are crucial” says Matthew Montana, Category Lead at Pacific Gas and Electric Company. “It’s important to be able to manipulate data and use it to your advantage.” Indeed, 45 per cent of the 30 Under 30 Stars rated data analytics as one of the top three skills for procurement professionals.

Imison describes data analysis as the “ability to look at a given situation and provide some sort of useful evaluation, such as selecting the best path to go down from a financial perspective.”

But being great at data analytics isn’t just about … well,  being great at data analytics.  Gustafson has found his data skills have worked wonders for his relationships with senior team members. “It’s helped me develop some strong relationships with some of my older colleagues. I help them with analysing data and they can  help me with things like contract terms or negotiation tactics. If you don’t have tech savviness, it can take four or five hours to do a 20 minute job due to lack of efficiency.”

You can’t go wrong with a generous helping of these key skills either…

Some of the other key skills highlighted by the 30 Under 30 winners include:

  • Team work
  • Adaptability
  • Dependability
  • Perseverance
  • Flexibility
  • Empathy
  • Time management

It’s interesting to see that the majority of skills highlighted are “soft skills” (although we hate calling them that!)

Abhishek Dahiya, Chief of Staff for Global Materials Dell Technologies,  thinks it’s important to stay up to date with the latest developments in the industry. “An openness to learning things that are out of the scope of your job makes you perfect for that job!”

And, of course you can’t go wrong with a persistent attitude, even if it’s in the form of some good old-fashioned relentless pestering as Amanda DeCook, Sourcing Associate A.T. Kearney, points out. “Sometimes you have to have the confidence to just go for it; pick up the phone and cold call a supplier. It can be scary but the worst-case scenario is that they won’t answer. And if they don’t, embrace that can-do attitude and keep calling (whether it’s three or four times) until they do!”

The 30 Under 30 Rising Supply Chain Stars will meet for the first time as a group at ISM2017, where ISM and THOMASNET.com will roll out the red carpet to celebrate the winners’ achievements and broadcast their success stories to other young people considering a career in supply management. 

This Little Procurement Pro Went To Market…

How do you know when you should  go to market? ThomasNet discuss strategies for three common sourcing scenarios. 

Strategic sourcing is all about generating a return on investment for every sourcing initiative. However, different sourcing scenarios require different levels of investment – in terms of time, effort and resources. Therefore, it’s important to approach each situation differently as well in order to produce the best results.

Here are three common sourcing scenarios, along with proven advice you can use to ensure an optimal return.

Scenario 1: Reducing Costs With A Strategic Partner

Your current supplier is deeply involved in the design, engineering, and process improvement of your product. You rely on them for the success of your day-to-day operations, and they have invested heavily in technology to ensure the success of your product. However, you are exploring ways to reduce costs.

When your incumbent supplier already acts as a strategic partner, the potential return on investment from pursuing alternate suppliers is significantly reduced. In fact, pursuing alternative suppliers can actually yield greater risk than reward. That’s because the supplier has provided you with capital investments that they have engineered and maintained, and the transition costs are likely to exceed the cost savings opportunities available with an alternate vendor. In addition, your current supplier has a comprehensive understanding of your product design, so they are less threatened by outside competitors who are likely working with imperfect information, and therefore less likely to reduce their pricing.

The Strategy

Rather than pursue alternative suppliers, you should engage the incumbent supplier in direct negotiations. Leverage the value your business brings to their operations; be upfront with your desire improve pricing; and be transparent about your procurement goals. Should negotiations prove unsuccessful, that may be a flag that your supplier is too complacent in the relationship, and alternate options can be explored at that time.

Scenario 2: The Unsolicited Proposal

Before reviewing a purchasing category, you reach out to suppliers within that category to notify them about your initiative. One supplier responds with an unsolicited proposal that reduces costs or otherwise increases value.

As a Supply Chain Project Analyst at Source One, this is a situation I encounter often. After a supplier realizes that their spend is being reviewed or a sourcing initiative is being considered, they attempt to get ahead of the process by offering up a proposal. The proposal typically includes a cost reduction in exchange for a longer contract or additional business.

The Strategy

The supplier is aware that their costs are not market competitive and are adjusting accordingly. However, while it may be tempting to award your existing supplier and reap the savings, it’s better to conduct a full sourcing initiative through an RFP, eAuction, or even an RFQ. At worst, you will have alternative bids to use as leverage with your incumbent supplier. At best, you can save a substantial amount of money. In fact, in my experience, the savings you can realize from alternate suppliers is often greater than the cost reduction proposed by the incumbent.

Scenario 3: Tactical Versus Centralised

Your business has been purchasing tactically in a particular category. The overall market basket is high mix, low volume, with very few recurring purchases to leverage for specialized pricing.

This is a common occurrence in indirect categories such as industrial supplies, industrial hardware, safety supplies, and office supplies. Employee preferences and unique company needs can influence purchasing, and standardization of products is nearly nonexistent.

The Strategy

 In this scenario, the continuation of tactical purchasing may seem like the most appealing option, as prompting a centralized supplier to bid on such an immense market basket would likely result in poor pricing and participation. However, it’s almost always prudent to conduct an RFP. Invite suppliers that can cover all required geographies and product categories. Focus on leveraging the overall value of the market basket to establish discount structures, rather than having suppliers exhaust resources pricing out an extensive product list.

To gauge the potential savings available, examine a random sampling of products and ask suppliers to apply the proposed discounts to those items to compare to your baseline price. If you do eventually move to a centralized account, lean on the supplier to drive product standardization and compliance. This will give you the opportunity to further refine pricing and terms down the line.

Other Strategies


Granted, not all sourcing events will fall into one of these three scenarios. However, there are some principles that can be applied universally:

  • Closely monitor the relationships with current suppliers
  • Don’t be afraid to shake up the status quo if a competitive event can yield cost savings or product improvements
  • Maintain clear and consistent communication between procurement and other departments
  • Above all, remember that the strategic sourcing process does not begin with the identification of an initiative, it thrives on the constant analysis of the current state of purchasing

Jennifer Engel is a Supply Chain Project Analyst at Source One Management Services, responsible for executing strategic sourcing and process improvement initiatives for Fortune 1000 clients.

This article was orginally published on the ThomasNet blog. 

SpaceX, Red Cross Millennials Amongst 30 Under 30 Rising Supply Chain Stars

Procurement and supply leaders as young as 24 are impacting major companies including SpaceX, A.T. Kearney, Cisco Systems and the American Red Cross. 

ISM and THOMASNET.com today announced the 2016-17 winners of the 30 Under 30 Rising Supply Chain Stars award, presenting the profession with an inspirational batch of role-models who are sure to attract more Millennials to supply management.

Tom Derry, CEO of ISM, says the quality of this year’s crop of stars is inspiring. “Younger generations in the workforce are stepping into leadership roles earlier than their predecessors. This year’s winners are leading the charge, and show that our future is in capable hands.”

“Capable” is an understatement when you look at the achievements of some of these professionals. Andrew Paulsen is a Senior Buyer at SpaceX, one of the highest-profile and most sought-after companies to work for in the U.S. There, he has helped transform the castings commodity into a strategic organisation focused on the reduction of risk and the amplification of innovative designs and production processes.

Amanda DeCook of A.T. Kearney spent nearly a month in Tanzania leading a supply chain diagnostic on life-saving commodities (such as antibiotics) for the remote Sengereme District near Lake Victoria. She was able to make recommendations that would help reduce the likelihood of stock outs in the future, resulting in more lives saved.

Subhash Segireddy, Supply Chain Program Manager at Cisco Systems, led a team which developed a strategy for a manufacturing project which enables resiliency in the supply chain, reduces greenhouse gas emissions and drives millions in cost savings with a vertically aligned supply chain.

In a rapidly changing supply and demand environment, Jaime Todd has created innovative projects for the Red Cross, including a first-ever toolkit for category managers, along with supplier risk frameworks, policies and procedures.

There’s a common thread in the careers of these four Rising Stars, in that they’re all contributing to a wider cause beyond immediate business goals. Whether it’s reducing greenhouse gases, ensuring the supply of life-saving blood, assisting a remote African community or even helping humanity reach Mars, each role taps into the social aspect that has been identified as a major draw-card for Millennial talent.

Three winning characteristics of 30 Under 30 Stars:

According to THOMASNET.com’s Donna Cicale, the judges looked for three main characteristics in this year’s batch of Rising Supply Chain Stars. The 30 winners are:

  • Multi-talented: “We look for people who demonstrate and excel at a wide range of skills beyond business acumen. We’re searching for fast learners, effective communicators, quick thinkers and natural leaders.”
  • Influencers: “Supply chain stars must be ‘movers and shakers’ in their organisations. They need to be skilled in getting others engaged, bringing colleagues on-board, and working towards common goals.”
  • Trailblazers: “We look for individuals with ‘firsts’, or accomplishments not previously realised by their organisation. A ‘first’ can relate to timing, budget, initialisation, integration or adoption.”

Each winner will receive a one-year membership to ISM; complimentary admittance to ISM2017 annual conference in Orlando, Florida (May 21-24); and a THOMASNET.com Team Training Lunch and Learn session for them and their colleagues.

Visit www.thomasnet.com/30under30 for the full list of 30 Under 30 winners.

3 Reasons Why Supply Chain Professionals Are Excited About Industry 4.0

The Industry 4.0 revolution is firmly under way. And it’s something for supply chain professionals to be excited about.

industry 4.0

Over 200 years ago, the first industrial revolution was ushered in by the roar of the steam engine. Now, thanks to advances in automation and computerisation, a new revolution is underway – Industry 4.0.

Also known as the fourth manufacturing revolution, Industry 4.0 marks the convergence of physical and digital manufacturing capabilities to create “smart factories.”

These factories empower supply chain professionals and manufacturers to digitally plan and project the entire production lifecycle. This can help to increase efficiency, minimise risks and, ultimately, drive revenues.

In fact, 35 per cent of companies adopting Industry 4.0 technologies expect to generate revenue gains of more than 20 per cent over the next five years

Picking Up Steam

The revolution is already well underway in countries with large manufacturing footprints, such as the United States, Germany and Japan.

However, now it’s starting to pick up steam around the globe. That’s because more companies want to take advantage of the tremendous business opportunity presented by Industry 4.0 adoption.

So what specific Industry 4.0 technologies have the supply chain so excited? Here are the top three:

Predictive Maintenance

Big data is playing a big role in the revolution. Predictive maintenance is one example of how it is being used.

Within smart factories, sensors are installed on every machine. These sensors produce data that can be used to accurately monitor key performance parameters. This knowledge is used to assess the probability of machine failure while allowing stakeholders to prepare accordingly.

The manufacturing personnel in the factory, as well as the supply chain professionals who are relying on them, receive continuous, up-to-date status alerts.

Armed with this information, MRO employees can make more precise repair calculations in order to prevent non-scheduled outages. At the same time, procurement and supply chain professionals can identify potential risks well in advance, allowing them to be more responsive and agile.

Additive Manufacturing

Additive manufacturing is not a new phenomena. For decades, the process was used to prototype new products before they were put in production on factory floors.

Today, however, thanks to the improved capabilities and reduced costs associated with 3D printing, additive manufacturing is being conducted on the factory floor itself.

As a result, manufacturers in smart factories need little to no lead time to fulfil spare part requirements, and design improvements and upgrades can be made on the fly. Supplies that were previously too heavy or too cost prohibitive to ship can be created on-site, reducing costs and logistic headaches for supply chain professionals.

This expansion of additive manufacturing has reduced required inventory levels and provided procurement teams with greater flexibility than ever before.

RFID Tags

Intelligent radio frequency identification (RFID) tag technology helps supply chain professionals track the status and location of each piece of inventory throughout the entire supply chain.

This technology provides procurement teams with the peace of mind that no piece of inventory will go unaccounted for. It also improves efficiency by making it easier to find specific items, no matter where they are located within a warehouse.

Lastly, RFID can prevent products from being counterfeited by verifying the authenticity of goods and products as they move through the supply chain. This helps to combat a growing concern in the industry.

Just as it has in the United States, Germany and Japan, Industry 4.0 will revolutionise the supply chain around the globe. As it does, procurement professionals will be able to understand their operations better than ever before and be empowered to make more strategic, agile decisions.

Ed Edwards is Audience Outreach Manager at THOMASNET.com. He leverages his extensive experiences in engineering, manufacturing and procurement, to educate procurement and engineering professionals on how to streamline and improve their work.

Ed provides customised training to organisations’ engineering and sourcing teams and helps buyers with their challenges and finds them new opportunities.