Tag Archives: webinar

Is It Time For Procurement Pros To Go To Market?

Going to Market (Place) : The Future of Procurement goes live on 13th November. Sign up now.  

Could a  B2B e-marketplace transform the lives of your procurement team? What are the key benefits of using a marketplace and why are some procurement leaders reluctant to take the leap?

We hear from Molly Dobson, Head of Enterprise Customer Success – Amazon Business and Mary Hetherington, Director of UK Group Procurement – AXA to get the low down on the future of marketplaces, how they can benefit procurement professionals and what reservations are still held by the profession.

Whist digital marketplaces have evolved over time, and come and gone with varying success, the core functionality remains in that they are a central place where people gather to buy and sell goods and services.

“The digital marketplace isn’t a revolutionary concept.” explains Molly. “But it definitely has been more prevalent in our personal lives than our professional lives – e.g. Uber, Airbnb and Amazon.”

Having said that, “early innovators really did introduce a concept in procurement that still underpins the business marketplaces of today. These are capabilities like electronic procurement, reverse auctions and buyer discovery.”

Molly outlines the three core components of any procurement marketplace:

  1. Breadth of choice

The  first core characteristic of a marketplace is having that “wide range of choice within a single interface, which is why we all like to use marketplaces within our personal lives. Within a marketplace like Amazon Business you can access 250 million products from toilet paper to precision test and measurement instruments, to professional medical supplies.”

2. Competition 

“Users of a marketplace get access to multiple sellers for the same offer. Each of these sellers is competing against one another to get your business and with this competition you can have reduced commitments to some of those long, inflexible contracts. We like to talk about a marketplace being dynamic in that sense.”

3. Transparency 

“In a marketplace you can have transparency of product and seller reviews and pricing and delivery options. You really get the capability to compare all of your options and make informed buying decisions.”

“In the procurement space, in particular, you have additional requirements with things like the ability to integrate with other procurement applications.”

Marketplaces and maverick spend

Mary recently began piloting a marketplace at AXA.

“In the short space of time that we’ve been [trialling a marketplace] it has really surprised me the depth of information that we can attain about who’s buying what, the types of goods and services we’re buying,  at a very low level which hasn’t always been that transparent in the past.

“This is really useful for a large organisation like mine where we’re supporting several different business units with very diverse sets of requirements and lots and lots of small purchases. It gives us the opportunity to consolidate information and identify rogue spend very quickly.”

Measuring marketplace success

AXA has been measuring the success of its marketplace with three metrics; customer satisfaction, billing and fulfilment and  management of information.

  1. Customer satisfaction

Customer satisfaction on the solutions and the process around Amazon Marketplace is one metric AXA have been using to measure success.

“We all know that Amazon is the go to place for purchases. We use it in our private lives and people like that experience so we want to try and give our business customers some of that experience and flexibility when dealing with business purchases.”

2. Billing and fulfilment

Making sure that billing and fulfilment of the goods is effective, [that it] interfaces neatly with our purchase to pay solutions  [and] that we get the granularity we want on our invoicing.”

3.  Great management of information

It’s important to ensure procurement leaders can make well informed decisions about their future spend and future requirements.

“It can take some work to get [a marketplace] off the ground, [fitting into] your strategy [to a point where  multifunctional leaders can buy into it.”

Marketplace adoption

So what’s holding procurement teams back when it comes to adopting marketplaces. Mary Hetherington, Director of UK Group Procurement – AXA believes part of the challenge is procurement’s need to achieve a healthy balance between enabling the business and applying controls.

“We need to show flexibility but also proportionality when we’re looking at different sizes of purchasing,” she argues.

“The challenge with a marketplace is ensuring we determine the appropriate level of control that gives that flexibility to the business but doesn’t compromise any of our existing  preferred supplier  arrangement or bypass certain checkpoints of governance as a finical services organisation that we need to carry out.

“The key here is pitching it at the right level to ensure both the procurement team and the business get the solution they want.”

Are marketplaces the future of procurement? What are the pros and cons? We discuss in new Procurious webinar. which goes live on 13th November.  Sign up now (it’s free!)

Going To Market(place): The Future of Procurement

Are marketplaces the future of procurement? What are the pros and cons? We discuss in new Procurious webinar. 

In the late 1990s and early 2000s, B2B e-marketplaces were hyped up as the next big thing. For a while it seemed these were going to transform the lives of supply chain and procurement professionals forever. But they never quite took off perhaps because they were too far ahead of the technology and change-management requirements of the time. Indeed, most of the public and consortia marketplaces failed and of the 1,300 that were launched, fewer than 50 exist today.

Fast forward 20 years and, as consumers, we’re all enjoying, and heavily relying upon, the benefits of consumer companies with marketplace models such as Uber, Airbnb and Amazon.com. And whilst the B2B marketplace model might not be expanding with such speed, it is being applied to more diverse industries and with more success than previous models.

If you’re struggling to get a hold on your organisation’s maverick spending, concerned about disruption and risk mitigation within your supply chain or in serious need of a larger supplier pool, a marketplace might just be the answer to your prayers!

In our latest webinar, sponsored by Amazon Business, we explore the evolution of procurement marketplaces and their prevelance in organisations today, the pros and cons of using a marketplace and what the future holds for procurement if this trend continues.

Who is speaking on the webinar?

Molly Dobson, Head of Amazon Business Accounts – Amazon Business 

Molly Dobson is the Head of Enterprise Customer Success for Amazon Business UK. Prior to her role with Amazon Business, she was Head of Buying for European Business, Industrial, and Scientific Supplies and Category Leader for Amazon’s Luggage and Travel business. Molly has her MBA from London Business School and has also worked for Marks & Spencer, Coca-Cola, and Gap Inc.

Mary Hetherington, Director of UK Group Procurement – AXA

Mary Hetherington is the Group Procurement Director for AXA UK.  Mary has worked in the Insurance Industry for over 30 years managing a combination of Finance and Procurement functions. She has led several large multi-company third party programmes focusing on outsourcing, divestment and acquisition activity and GDPR. As part of a broader initiative to bring more agility to Procurement processes, Mary is currently focused on the Implementation of Coupa and an effective purchase to pay strategy.

What will be discussed in the webinar?

  • How can marketplaces help CPOs and their teams control maverick spend?
  • Are B2B marketplaces the future of procurement?
  • How can procurement teams incorporate marketplaces into their business strategy?
  • Why are some procurement professionals reluctant to adopt marketplaces?
  • The evolution of marketplaces and their prevalence in society today

How do I register for the webinar?

Registering for Going to Market (place): The Future of Procurement couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a email with a link to the webinar platform in the run up to the event.

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still enroll to access the webinar. We’ll send you a email with a link to the webinar platform in the run up to the event.

When is it taking place?

The webinar takes place on 13th November at 11am GMT. Sign up or log in here and we’ll be in touch ahead of the event to provide details on how to join the webinar live.

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question during the webinar?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Going to Market (Place) : The Future of Procurement goes live on 13th November. Sign up now. 

Procurement’s Missing Puzzle Piece

How can the missing puzzle piece make it easier for procurement teams to operate sustainably, improve supply chain transparency and eliminate corruption?

As procurement professionals we’re always talking about how leveraging innovative technology can add value to our organisations.

But less frequently addressed is how technology can make it easier for procurement teams to operate sustainably, improve supply chain transparency and eliminate corruption. 

In our latest Procure with Purpose webinar we’ll be exploring how the latest and greatest in technology innovations can not only help procurement pros deliver business value but also drive and enable purpose-led practice.

Join us on October 10th when we’ll discuss the tech that’s helping procurement  teams to collaborate with their suppliers and  improve transparency; how to communicate the importance of using tech to improve purpose-led procurement and why businesses must integrate tech-led purpose-driven practice into all of their decision making.

How do I register for the webinar?

Registering for The Missing Puzzle Piece: How Technology Can Empower You To Procure With Purpose couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a email with a link to the webinar platform in the run up to the event.

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still enroll to access the webinar. We’ll send you a email with a link to the webinar platform in the run up to the event.

When is it taking place?

The webinar takes place on 10th October at 10am EDT/ 3pm BST. Sign up or log in via the form above and we’ll be in touch ahead of the event to provide details on how to join the webinar live.

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

What is the Procure with Purpose community?

Procure with Purpose is a community for procurement pros who want to deliver value beyond cost savings and efficiencies – shining a light on the biggest issues from Modern Slavery to Environmental Sustainability – and on you, our members, who are already driving exponential change.

Webinar Speakers

Oliver Campbell, Director Procurement & Packaging Engineering

Oliver is a Director of Procurement & Packaging Engineering at Dell Technologies.  He has become one of the most influential thought leaders in the packaging industry by combining innovation and supply chain best practices.  Under his leadership, Dell introduced industry changing materials such as bamboo, mushroom, and molded paper pulp for more environmentally healthier packaging.

Most recently, Dell launched Ocean Plastic packaging with the aim of creating an industry response to tackle the task of the ocean plastic crisis.  Through founding NextWave, a cross-industry consortium of like-minded companies, Dell is creating a commercially viable, and scalable, supply chain that is focused on keeping plastics out of the ocean and in the circular economy.

Oliver’s accomplishments have been highlighted for their business and social influence by Fortune in their 2017 Change the World Companies, and by LinkedIn in their 2017 Top Companies to Work For.  Additionally, the 2018 Consumer Electronics Show recognized his pioneering work in Ocean Plastic with a Best of Innovation Award.  Mr. Campbell holds Bachelor and Master Engineering degrees from Cornell University and an MBA from The University of Texas.  In his free time, you can find him training for his next triathlon.

Justin Sadler Smith, Head of United Kingdom & Ireland, Ariba Cloud Procurement at SAP Ariba

Justin Sadler-Smith is head of SAP Ariba UK and Ireland, procurement and supply chain thought leader, and cognitive procurement ambassador. He is one of a growing number of procurement leaders around the world who helps procurement and supply-chain teams ensure that fair labor practices are in play across their global supply chains by harnessing innovative technology and increasing competitive advantage

Padmini Ranganathan, Global Vice President – SAP Ariba

Padmini Ranganathan is Vice President, Products and Innovation for Supplier Risk, Compliance and Sustainability solutions for SAP Ariba.  In this role, she is responsible for product strategy and engineering and leads a team of experts focused on delivering solutions that enable risk-aware, sustainable and ethical supply chains.

Prior to SAP Ariba, Padmini led the Analytics for Industries solutions marketing team at SAP which brought to market the first analytical applications and content for “art of the possible”  industry and line of business application scenarios. Before joining SAP, Padmini worked at Oracle, where she was part of the procurement product management team that delivered the first web-based, self-service applications for procurement and a technical consultant in the areas of order management, inventory & distribution, procurement and manufacturing.

Padmini is a passionate advocate for bringing technology to business users that simplifies and enriches their daily work and decision making. And as the Products & Innovation lead for SAP Ariba’s Procurement with Purpose initiatives, she is dedicated to helping businesses balance their costs with conscience and make an impact on the larger world.

Padmini has a post-graduate diploma in computer science from UC Berkeley, California, and a bachelor’s degree in commerce with a major in Cost & Management Accounting from Bangalore University, India.

Sign up for The Missing Puzzle Piece: How Technology Can Empower You To Procure With Purpose ahead of 10th October. 

Blockchain: The Technology, the Myth, the… Legend?

We’re told Blockchain is a huge game changer, that it’s the biggest innovation since the internet. But we’re also told it’s overhyped, it’s no big deal and that it has some serious limitations. So…what’s the truth? “Depending on who you ask, blockchains are either the most important technological innovation since the internet or a solution looking for a problem.” These are the opening words to a recent Wired article, entitled: The Guide to Blockchain.

And they certainly resonate with procurement professionals across the globe.

We’re told Blockchain is a huge game changer, that it’s the biggest innovation since the internet; it’s unhackable, it’s pervasive, it’s unparalleled and ultimately…it’s coming to the mainstream imminently.

But on the other hand, we’re told that Blockchain is overhyped, it’s no big deal, it has some serious limitations and, whilst it might be a pretty cool piece of technology, it’s certainly not the procurement disruptor that it’s hailed to be…

It’s no surprise that when it comes to Blockchain procurement pros don’t know who to believe when to expect its takeover or how to prepare.

So we’ve enlisted the help of some blockchain experts to give you the truth, the whole truth and nothing but the truth.

On 7th August,  Procurious presents: Blockchain: The Technology, the Myth, the… Legend?

Blockchain: The Technology, the Myth, the… Legend?

We’ll be discussing: 

  • How will Blockchain impact procurement?
  • What are some of the most common misconceptions about Blockchain?
  • How is Blockchain commonly being used in businesses today?
  • How can blockchain help procurement pros to manage their organisation’s contingent labour force?
  • What are the flaws at the heart of blockchain? Is it over-hyped?

Webinar Speakers

Vishnu P Tadepalli, Global Program Manager – Procurement Blockchain Lead – IBM Procurement Services
Vishnu is a highly motivated design thinker and is a digital procurement / supply chain enthusiast. In his current role Vishnu Tadepalli is the Global Program Manager / Lead for procurement blockchain solutions at IBM Procurement Services (IPS) , program managing the blockchain procurement transformation for both IBM global procurement and its procurement services clients. In his earlier role at IBM , Vishnu product managed Procurement Cognitive solutions and earlier worked as a sourcing consultant for multiple Fortune 200 companies. In addition to IBM, Vishnu worked with Unilever , AGCO and Suzuki Motor corporation in supply chain transformation and category manager roles.  His experience spans end to end global supply chain, including both direct and indirect procurement.
Vishnu has an MBA in Strategy & Supply chain from Uni of Wisconsin, Madison and is currently pursuing second Master’s in  Artificial Intelligence. He is a member of Government Blockchain Association(GBA) and Council of Supply Chain Management Professionals (CSCMP).  An active Linkedlner, Vishnu likes to spend his free time social volunteering and mentoring.
Linkedln : linkedin.com/in/vishnutadepalli
Twitter Handle : @vishnu65886588 

Paul Sidhu, Blockchain Practice Lead – IBM

Paul is a senior leader with over 25 years experience delivering business transformation in large and complex business environments. A natural strategy and innovation practitioner, Paul works with business leaders to articulate the benefits of process optimisation, digital transformation and new operating models that impact upon their business and to present them with options and strategic recommendations in a way they both understand and feel passionately about.

Paul leads the IBM Global Business Services Blockchain Practice in Australia. His cross-industry background and working with clients in multi-discipline business functions enables a deep understanding for the needs of diverse stakeholders and the ability to solve business challenges by incorporating new solution offerings built with Blockchain.

Jack Shaw,  Co-Founder and Executive Director of the American Blockchain Council

Jack  is a leading expert on the strategic business implications of Blockchain technology who has spoken and consulted on Blockchain around the world.

He is a world renowned Keynote Speaker. He was recently voted one of the World’s Top 25 Professional Speakers by over 27,000 meetings planners, executives and conference attendees – the only Technology speaker to be accorded this recognition.

Jack has been a Technology Futurist for over 30 years – helping others to understand the impact of emerging technologies. In addition to Blockchain, he is widely recognised for his expertise in such breakthrough business technologies as:

  •   Artificial Intelligence,
  •   Internet of Things, and
  •   3D PrintingHe has advised such Fortune 500 Companies GE, Coca Cola, Johnson & Johnson, IBM, Oracle, and SAP as well as hundreds of small to mid-sized businesses.A charismatic speaker, he’s delivered more than 1000 keynote speeches and executive presentations in 23 countries and every U.S. state. Jack graduated from Yale with a degree in Business Administration and has an MBA from Kellogg in Finance and Marketing.

AmericanBlockchainCouncil.org 

How do I register for the webinar?

Registering for our webinar couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a confirmation email with a link to the webinar platform and a handy reminder one hour before we go live!

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still register to access the webinar via this platform. We’ll send you a confirmation email with a link to the webinar platform and a handy reminder one hour before we go live!

When is it taking place?

The webinar will take place at 9am EDT/ 2PM BST on 7th August 2018

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’re listening live, our speakers would love to hear your questions and we’d love for you to pick their brains . Questions can be submitted throughout the live stream via the webinar platform.

If you think of a brilliant question after the event, feel free to submit your question via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Blockchain: The Technology, the Myth, the… Legend? goes live on 7th August at 9am EDT/ 2pm BST. Sign up here.  

Don’t Go Chasing Procurement Unicorns

Trying to build a team of procurement unicorns? You might just want to re-think your strategy…

What makes a procurement unicorn?

They’ve got the grades, the qualifications and years of relevant experience. They tick off every core procurement skill in the book and they’ve worked for some big-name companies.

In short; on paper, they’re perfect.

If you’re self-proclaimed unicorn hunter, you’re probably hoping to fill your entire procurement team with a herd of these mythical creatures. Because you think that’s what’s best for your business…

And that’s where you’d be very wrong. Because in today’s world, Unicorn = Uniform!

With this narrow outlook on your recruitment processes, you run the risk of missing out on extraordinary talents.

It’s impossible to know the unique skills, experience and perspective that a potential hire can bring to your team if you don’t open your mind to their many differences and diversities.

In our upcoming webinar Don’t Go Chasing Unicorns we’ll be celebrating individuality. Join us on 18th July as we explore how organisations can better accommodate people  who are differently abled; whether it’s those with physical disabilities or people who are neuro-diverse.

We’ll be discussing:

  • The importance and benefits of recruiting and retaining differently-abled people to your teams
  • Why it is such terrible idea to set your sights on procurement unicorns!
  • How  procurement pros can help to build truly diverse teams and foster a workplace environment that is inclusive to everyone?
  • How are some of the biggest organisations making the workplace inclusive and accessible for everyone?

Who is speaking on the webinar?

Tania Seary, Founder – Procurious

A true procurement entrepreneur, Tania is the Founding Chairman of Procurious, The Faculty and The Source. Throughout her career, Tania has been wholly committed to raising the profile of the procurement profession and connecting its leaders.

After finishing her MBA at Pennsylvania State University, Tania became one of Alcoa’s first global commodity managers.

In 2016, Tania was recognised by IBM as a #NewWaytoEngage Futurist and named “Influencer of the Year” by Supply Chain Dive. She hosts regular procurement webinars, and presents at high-profile events around the world.

Darren Swift

In 1991 Swifty was injured by a terrorist attack that resulted in him loosing both his legs above the knee. During his extensive rehab he made a decision to not let his injury affect his life or career going forward.

Since then Swifty has gone on to achieve a huge amount including becoming the first ever double above knee amputee solo skydiver and snowboarder. Swifty’s unique and inspiring story demonstrates the need for employers to be open minded when hiring as without this outlook they could miss out on an extraordinary talent!

Timo Worrall, Senior Category Manager, Facilities Management – Johnson & Johnson

Timo is responsible for the procurement of Facility Services across J&J’s global portfolio, including leading recent initiatives in EMEA and APAC. He is a key part of the team that has implemented the ‘Social Impact through Procurement’ initiative through the J&J business in the UK, including driving the introduction of Social Enterprises into the facilities supply base. It is this work with social enterprises that will help J&J reach its target of a £15 million of social value spend by 2020.

Timo’s work includes contracting a 3 per cent social value target into two regional FM contracts, that will deliver £3 Million of social value across Europe and Asia. Timo believes passionately about the impact that big business can have on impacting the lives of those disadvantaged in our society. He lives in Woking, Surrey, with his wife and two children.

Julie Gerdeman, General Manager, SAP Ariba

Julie Gerdeman is GM Payments & Financing at SAP Ariba. In this role, she is responsible for all aspects of the company’s strategy and execution to transform global B2B payments.Prior to this role, Ms. Gerdeman led the SAP Ariba Digital Transformation Organisation. This team of 100+ advisors lead SAP Ariba’s delivery of customer value: from identification, to enablement through realisation.

Before joining SAP Ariba, she held various leadership positions in sales, customer success and marketing at J.P. Morgan Chase and American Express.Ms. Gerdeman holds a B.A. from Dartmouth College and lives with her family in the Lehigh Valley, Pennsylvania. She is a member of the board of directors for Apparent Financing, an SAP.io funded start-up that leverages data from the Ariba Network to facilitate financing to small business suppliers. Ms. Gerdeman is also the global executive sponsor for Diversity & Inclusion at SAP Ariba and speaks and blogs frequently on this topic.

How do I register for the webinar?

Registering for Don’t Go Chasing Unicorns couldn’t be easier (and, of course, it’s FREE!)

Click here to enter your details and confirm your attendance. We’ll send you a email with a link to the webinar platform in the run up to the event.

I’m already a member of Procurious, do I still need to register?

Yes! If you are already a member of Procurious you must still enroll to access the webinar. We’ll send you a email with a link to the webinar platform in the run up to the event.

When is it taking place?

The webinar will take place at 10am EDT/ 3pm BST on 18th July 2018

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Our webinar,  Don’t Go Chasing Unicorns, takes place at 10am EDT/ 3pm BST on 18th July 2018. Register your attendance for FREE here. 

How to Prepare Your Organisation for the Cognitive Revolution

Everyone procurement team is talking about AI, cognitive technology and machine learning. But for these technologies to work at their best, your business needs to be prepared… 

Image: Zapp2Photo / Shutterstock

There is a lot of talk these days about Artificial Intelligence, Cognitive Sourcing, Machine Learning, and data-driven procurement.

Almost every major procurement organisation in the world talks about how their organisation uses these tools to make decisions.

The direction of procurement is almost certainly towards data-driven decision-making.  This is a reality we all need to embrace.

I certainly subscribe to the notion that the best procurement decisions come from fact-based data-driven strategies and I firmly believe that over time, cognitive tools and technologies will become better and more effective than they are Today.

The truth is that we are not there yet.

As someone who’s industry is in the cross-hairs of cognitive technologies, I have been exposed to more than a few examples of how this technology works.

The category knowledge that these tools will draw from to generate their insights currently resides with guys and gals like me.  As such, we (the subject matter experts and category leaders) of the procurement space hold a special and specific set of keys that unlock these technologies.  It is with that focus that I would like to proceed.

In order for these technologies to work best there are certain fundamental elements that must be right in order for the tool to generate the best insights.

Good Data

Well organised and structured data is an essential foundation for cognitive technologies.

When it comes to any form of data analytics, the old adage “garbage in, garbage out” still holds .  Unfortunately, the vast majority of organisations simply have poor data.

Before you can point any cognitive tools at your data set, the data needs to be scrubbed and normalised.  This is still done manually by a team of people.  I’m sure one day this will be 100 per cent automated and perhaps technology will find a way to avoid these errors in the first place.  The fact is that whenever we receive data Today, it is highly flawed and requires weeks of work to make it usable.

Here is a good primer on data collections.

Be sure you allow sufficient time for your data to be cleansed before you deploy your cognitive tools.

Define your Benchmarks

The greatest value that AI and cognitive will bring is being able to benchmark your organisation in ways never before possible.

In a recent article I wrote on how to use bench-marking to develop cost estimates, but cost estimating is not the extent of how you can use bench-marking with AI.

Consider the value of bench-marking your organization against a competitor’s current performance.  Cognitive tools allow you to bring in publicly available information in real time.

Imagine that you are an electronics manufacturer and your closest rival releases their financial report.  Cognitive tools can seek out these reports and extract data from them to benchmark against your performance.  You can also combine cognitive tools with web crawlers that seek out competitor’s pricing information.  Without cognitive tools, this kind of information would require weeks or months of manually collecting data.  Cognitive tools allow this kind of analysis to be done instantly.

To take advantage of AI, take time to consider all the different ways you can measure your performance and see if you can come up with a few you never thought possible before.

Market Indices

All goods and services are affected by market forces. Staying on top of market indices is important for making strategy decisions.

An effective cognitive data strategy uses data from market indices.  Market Indices will enrich your own data and allow you to forecast into the future.  Adding this level of depth to your cognitive platform will reveal the actionable insights that cognitive data promises.

The Bureau of Labor Statistics is great resource for all kinds of indices.  If you are in construction, there are a number of private organizations that publish various indices to help forecast the future.  Look at the AIA, Dodge, and AGCjust to name a few.

Add market indices to your data set to enrich your analytics and strategise with forecasting.

Category Expertise

Cognitive technologies offer beautiful data outputs rich in data and content, on their own these outputs are just eye-candy.  The interpretation of that data and content must be made by skilled experienced subject matter experts.

Eventually we may get to the point where computers can read the data and a clear strategy will be automatically spit-out for anyone to act on.  Even then, how you act on the data will require some expertise.  Until such time, you must have your cognitive data interpreted by a human with category expertise.

It’s too easy for data to be misinterpreted and for an organisation to run-off in the wrong direction.  Even the most advanced Artificial Intelligence we have Today is unable to interpret the various human factors that go into strategy making and for that reason, Subject Matter Experts (SME’s) are still required.

Be sure you know that the person who will receive and interpret your data has the skills needed to execute a sound strategy.  After all the time and energy you invest in cognitive tools, you need to be sure your direction is sound.

Closing

The future of AI and cognitive is bright.  We are heading in a great new direction where information will rule.  Today there are a few trail-blazers paving the way for us all.  Those using these new technologies Today are sure to be better prepared Tomorrow as they find new and creative ways of using data to guide their business decisions.


This article was originally published on Luis Gile’s website. Check out more of his content here. 

Sign up for next week’s webinar: Clean Up Your Act! Category Management AI-Style. 

Can Category Management Clean Up Its Act, AI- Style?!

In a post-AI world, the cards are up in the air and everything is up for grabs. Can category management help the procurement profession to scrub-up and embrace these changes?

Our webinar,  Clean Up Your Act! Category Management AI-Style is available on Procurious now. Listen here

How are large corporations managing and recruiting their workforce in the age of the gig economy?

Can cognitive tech help marketers connect the dots and better understand their customers?

Will we require architects in the future to design our buildings, or can we ask bots do that for us instead?

AI and cognitive technology will impact all corners of the business whether it’s construction, labour or marketing. For procurement’s category managers, technological advancement provides the chance to reinvigorate the profession and develop innovative ways of working.

But there is also a legitimate fear of the major disruption AI brings. Which services and industries will we lose entirely? How many roles will be made redundant?

The cards are up in the air and procurement prosperity is there for the taking. Can category managers help the profession to scrub up and seize this opportunity?

This month, we’ve enlisted the help of three category management experts to advise you on how to clean up your act and get the most out of AI!

Last month we hosted a webinar – Clean Up Your Act! Category Management AI-Style – in partnership with IBM.

With a focus on construction, labour and marketing, we discussed:

  • What common problems have category managers faced in old-world procurement, pre-AI?
  • How is AI impacting these categories; what sort of disruption can procurement professionals expect?
  • How can AI help procurement professionals in construction design, build and maintain their projects?
  • How can AI assist procurement professionals working in labour to attract, recruit and retain talent?
  • How can AI help procurement professionals working in marketing to strategise, create and manage optimal marketing campaigns?

Who is speaking on the webinar?

  • Tania Seary, Founder – Procurious
  • Luis Dario Gile, Global Category Leader (Design Construction and Real Estate) – IBM

Help! I can’t make it to the live-stream

No problem! If you can’t make the live-stream you can catch up whenever it suits you. We’ll be making it available on Procurious soon after the event (and will be sure to send you a link) so you can listen at your leisure!

Can I ask a question?

If you’d like to ask one of our speakers a question please submit it via the Discussion Board on Procurious and we’ll do our very best to ensure it gets answered for you.

Our webinar,  Clean Up Your Act! Category Management AI-Style is available on Procurious now. Listen here

Let’s Get Internet of Things (IoT) Ready for Procurement!

What can the the Internet of Things (IoT) do for you and your procurement team? 

IoT is a big buzzword these days. From industry experts to academia to specialised thought leaders, everyone is talking about how IoT as a technology has the potential to disrupt not only the day-to-day workings of our companies, but also the lives of the individual.

Panchenko Vladimir/Shutterstock.com

The Internet of Things: A History

Let’s go back a bit and see how it all began. In 1999, Kevin Ashton, a British technology pioneer and cofounder of the Auto-ID Center at MIT, proposed the Internet of Things (IoT). It refers to gadgets and applications with built-in wireless connectivity that can harness great amounts of data from their surroundings and help monitor, control and organise things better. From home appliances to fitness gadgets to technology helping industries automate their processes, IoT can do it all!

And two decades later, IoT is the live wire. Smart homes, smart gadgets and smart cars- IoT has already given us a glimpse how is future going to be. But what does it hold for procurement?

Procurement and the Internet of Things

For Procurement particularly, IoT works as an enabler, empowering companies to gain visibility into their spend analysis and keep a vigilant eye on their consumers consumption pattern. The supply chain data generated is monitored continuously and analysed for behavioral sets to make better-informed decisions. Having a proactive overview helps companies to estimate the demand and supply statistics, as they are aware of the needs and usage pattern of their consumers. This empowers them to negotiate with supplier side in a more streamlined manner as they know in advance what material and what quality and quantity is required. All these factors combined contributes to cost savings and brings value for the procurement function.

Another area where Procurement can benefit significantly is in the tracking and monitoring of the movement of goods within supply chains. Deploying the right set of sensors, which are tracked remotely with an IoT-enabled device can identify equipment faults, stoppages and leakages in real time allowing service and maintenance teams to respond to issues more promptly and accurately. This also ensures diagnostic data is obtained in order to d

eploy the right set of technicians.

These factors directly impact the maintenance costs incurred by a company, contributing positively to the overall cost savings.

There is more that IoT can bring to the table for Procurement function. But to realise the utmost advantages, companies must ensure that they are investing in the right kind of technology, processes and people. They need to invest in setting up the infrastructure that will unleash the possibilities IoT has to offer. In short they need to be ‘IoT ready’.

If you are curious to learn more about how IoT will impact procurement, do join our upcoming webinar where our expert group of panelists will examine the practical impact of IoT on how our supply chains will work and what you will need to do to become IoT ready.

Webinar Speakers

  • Jon Hansen – Editor and Lead writer at Procurement Insights
  • Robert Handfield – Executive Director of the Supply Chain Resource Cooperative
  • Mark Hubbard – Managing Director at Smart Brown Dog Ltd

Webinar on ‘Getting Internet of Things (IoT) Ready for Procurement’ is on January 18, 2018 | Thursday. Register here for free to reserve your seat.

Could You Do A TED Talk On Your Category?

Great category management is like a killer TED Talk – it’s strategic, it’s well researched and it’s delivered with true passion.  Have you got what it takes?

Our webinar, Breaking the Groundhog Day Mentality: Enabling A True Category Management Mindset takes, takes place at 1pm GMT on 29th November 2017. Register your attendance for FREE here.   

There are over 2,500  TED talks available online, each dubbed with the organisation’s tagline “ideas worth spreading” or “talks to stir your curiosity”.

But, what makes these bitesize videos so universally appealing? What common traits do the talks share that piques the curiosity of the general public and guarantees thousands upon thousands of views?

We’ve delved in to the intricacies of a winning TED talk and, it turns out, some of the key qualities of a killer TED talk can also be applied to category management.

Christopher Eyerman, Senior Director, Denali – A WNS Company explains, “Category management is not just a process, it’s not just a set of tools. It takes on-going focus and the development of key skill-sets, just like any function or discipline within an organisation, in order to be the best that you can be.”

So, what are the things category managers need to do well as per the TED talk rulebook?

Keep It Snappy And Strategic

TED talks never, ever exceed 18 minutes of content, no matter what the subject matter, level of complexity, importance or fame of the person delivering the talk. By insisting speakers cut content from a talk they might normally deliver, TED guarantees audiences a level of discipline, focus and a clear thought process behind the key point delivered. The process encourages presenters to take a strategic approach.

Christophe Ysebaert, Partner, Transitive Management, explains, “Procurement organisations need to switch from being 20 per cent strategic to 80 per cent strategic. A key skill set for your team of category managers is to have a strategic mindset.”

Much like producing a TED talk on a complex subject, “To build strategy, you have to work from a huge amount of data,” Christophe continues. “You’re going to gather data from the market, your internal stakeholders, spend data etc. At some point, you need to analyse that data and come up with something that makes sense in terms of strategy.”

Tell Your Story

It goes without saying that communication and story-telling are key elements of any TED talk. Presenting key messages, an argument or a lecture in an accessible and insightful way to a diverse audience widens the appeal of topics that might have previously been alienating.

Christophe explains,  “When you do category management, you talk to internal customers, business people etc. and you have to be able to sell your case and your strategy.

“At my company, we’ve put together a package of information about how to tell a good story because that’s something you need to do all the time in this profession. ”

Category managers must be able to present their case to a wide range of stakeholders.

Find Your Passion

It’s rare to watch a TED talk and not get a sense of the speaker’s passion for their subject. They are the experts in their chosen topic, its greatest advocates and their extensive knowledge on the subject reflects this.

Chris explains why passion and curiosity are at the heart of category management, “Getting very deep with your category, getting deep with the data, deeply understanding the external market place, and having that sense of true curiosity [is important]. The best category managers never seem satisfied, they never think they know everything they need to know, they’re always pushing and trying to find additional information and additional ways to better understand their categories.”

Ask yourself, Chris says,  “Could you as a category manager give the TED talk on your category?”

Know Your Audience

When dealing with internal or external stakeholders in category management, you need to know what makes them tick or how to engage them, what you want to achieve from talking to them and what are you selling them!

“This doesn’t mean – ‘I know Joe we play basketball together!’ ” says Chris. “It’s about really understanding them. From their business, their needs, co-aligning with them in terms of their objectives and yours, developing a strategy, and sharing your vision with them.”

Just like in a TED talk, category managers need to leverage their sales skills.

Chris concludes “Selling your vision, building a strong business case and being able to influence stakeholders and align stakeholders to a strategy” are crucial to make it as a great category manager.

Want to hear more on this topic from Christopher Eyerman and Christophe Ysebaert? Tune in to today’s webinar, Breaking the Groundhog Day Mentality: Enabling A True Category Management Mindset at 1pm GMT. Register your attendance for FREE here. 

Three Imperatives Of Every Successful Category Manager

Every leadership role in every business comes with its own set of imperatives, a set of tasks that must be focussed on to guarantee success. But what imperative should a great category manager follow?

This article was written by  Lynn Rideout – Director Procurement Services, Denali – A WNS Company.

Entrepreneur and venture capitalist Fred Wilson once described the three tasks that every CEO should focus on, whilst all other tasks should be delegated to their team.

These three things, the CEO imperatives, must include:

  • Setting the overall vision and strategy of the company and communicating it to all stakeholders
  • Recruiting, hiring and retaining the very best talent for the company
  • Ensuring there is always enough cash in the bank

If your CEO can’t excel at all three, the chances are you’ve got some fairly big problems within your organisation.

What if we were to take the concept of the three imperatives, and apply it to category management?

What should you do well to be successful?

What are your imperatives?

And, furthermore, how do you take the basic understanding of category management and enable it across your organisation?

At Denali, we believe the greatest category managers follow these three imperatives.

1. Know Your Stakeholders

First and foremost, successful category managers understand the importance of stakeholder alignment and building positive relationships. Follow these tips to enhance your stakeholder relationships through your category plan:

  • Be with your stakeholders – Spend time (both real and mental) with them every day
  • Intimately know their business objectives – use a consistent framework to correctly identify true requirements, the key enablers, and barriers to those objectives; where value is created?
  • Establish true alignment – establish shared goals and earn trusted advisor relationship
  • Sell YOUR vision – “if not now, then when?”, be aligned and integrated with stakeholders
  • Bring new opportunities to the table vs. react to requests or issues
  • Plant seeds with stakeholders – start one project at a time; build reputation and trust

Remember, to effectively persuade and engage your stakeholders, you must tailor the content for each discussion. Tell your story and help build the business case. Building successful relationships is an evolution. Your stakeholder relationships will grow with time – and so will your credibility with stakeholders!

2. Understand Your Categories

Understanding the internal and external dynamics of your categories drives idea generation and stakeholder engagement. Follow these tips to better understand your categories:

  • Get dirty with the data – become intimate with your category details, but get to true insights – the “so what’s”
  • Be curious – ask why, seek innovation, and develop new strategies
  • Be intentional regardless of the depth and category maturity
  • Be “in the market” – study market drivers/trends, talk to suppliers, participate in market events, read broadly
  • Network with category peers in other industries/organisations
  • Understand your suppliers – capabilities, performance, why you use them, and leverage them

Establish a plan to refresh and maintain category knowledge as part of building your story. Knowledge will grow with time, but it should not delay execution.

3. Deliver Results

Now that you know your stakeholders and understand your categories – it’s time to execute. Use this newfound alignment and knowledge to drive deliberate consideration of a prioritised portfolio rather than executing on strategic sourcing project at a time. After all, category management is MUCH more than simply executing sourcing projects.

  • Take a portfolio approach – Know your targets and have a plan to get there, get many projects teed up, and leverage available resources
  • Eliminate extraneous work – Get comfortable with not doing it all
  •  Press sourcing strategies for greater value (go to auction, demand management, standardisation, supplier innovation, etc.)
  • But don’t let the perfect be the enemy of the good – you must start somewhere
  • Leverage all available resources to reach your objectives
  • Sustain the value by managing supplier relationships and performance

The best way to deliver results is to have a sense of urgency with a bias toward execution.

To learn more about how to a successful category manager and enable a true category management plan, register for our upcoming webinar.

Our webinar, Breaking the Groundhog Day Mentality: Enabling a TRUE Category Management Mind, takes place at 1pm GMT / 8 am EST on 29th November 2017. Register your attendance for FREE here.