Get off that dead end road
“Waiting for organization wide C-level decision makers to seek out procurement has been, and will continue to be, a dead end road.” That is refreshingly direct, Jeanette, and it doesn’t just apply to procurement! Jeanette Jones, Founder, Cottrill Research provides thought provoking commentary about how procurement should leverage supply market intelligence as part of the Procurement Revolution. Listen here on the Procurement Revolution’s site to her presentation - “On the Road to Strategic Relevance.” It will take you 10 minutes to hear her message, so there are no excuses for not listening.
“Supply market intelligence is created when external information is collected and analyzed to form actionable conclusions that affect a company’s ability to strategically locate, secure, and manage sources of supply.” Whew - definitely a mouthful. She points out how challenging this can be due to the amount of time it takes and the knowledge on how to gather and cost required to gather. I’m listening along and nodding my head, yes, yes, I understand. But then Jeannette raised a great point and I leaned in a little closer to my laptop. She mentioned how making the necessary changes will require growth for individuals, teams and organizations as whole.
BAM! (and I don’t mean the Bank Account Management module for SAP)
I couldn’t agree more! Many of us need growth and transformation, myself included. I’ve been preparing over the last month to be part of a panel presentation on opportunities in working capital management. Part of my role on this panel is discussing how technology can be leveraged and the challenges and opportunities this brings. One of the great opportunities I see is the growth of people and organizations. We are in a world where technology and big data are receiving a lot of hype. Yet many of us are struggling to understand how to transform our organizations and how technology can play a helpful role instead of being a hindrance. Further complicating matters, it is a competitive labor market - how are you supposed to find someone that actually has these skills? It can feel like Sisyphus trying to roll that boulder up the hill.
As a panel, we will be talking about where you start on this journey based on practical experiences. We will also share observations on how organizations can begin to build analytics skills from within. So, if you will be at the AFP Annual Conference in Orlando later this month, please join us.
Can’t make it to Orlando? Then let me know if this is a topic you want me to continue to cover. Please like, share or comment - it’s how I know you want more on a topic.
Thanks! - Amber