Earlier this year IBM announced that it was to retire its Emptoris contract and sourcing supply management tool, but does that mean the death knell has sounded for contract management? After all, if IBM with all of its experience and resources can’t make it work, can anyone? Continue reading “IBM Emptoris: Contract Management – dead or very much alive?”
Dive Insight: As one who works with a range of technology-driven early stage and small businesses, I can confirm, albeit with a smaller sample, that SMEs are indeed looking at procurement as an important element of their businesses. While surveys may look at companies incorporating procurement using transactional benchmarks such as a number of suppliers and invoices, it goes deeper than that. SMEs are focusing … Continue reading Report: SMEs are adopting procurement earlier, but still as reactionary measure
In Deloitte’s 2016 Global CPO Survey 2016 report, 74% of respondents stated cost reduction as their top priority in 2017. Also, 70% of the surveyed procurement executives cited indirect spend as a top focus for controlling and reducing costs.
Recent studies have found that indirect spend can account for up to 50% of a company’s purchases, and manufacturers specifically can spend 20% or more of their total revenue on indirect expenditures. It is clear the next profound impact area for procurement professionals is in accessing hidden and unexploited areas of indirect spend. Continue reading “New Ways to Achieve Unprecedented Savings on Indirect Spend”
Minimizing the expertise and language gap between program and IT staff on campus can create a more flexible and growth-oriented institution where resources are used to their fullest and technology and business goals are given equal weight and priority. Continue reading The Expertise and Language Gap in Technology Procurement: Reducing Bloat and Improving Collaboration
The rise of AI and smart technologies also serves as the precursor to a paradigm-shifting approach to procurement, “cognitive procurement,” a concept operationalized by IBM Watson Commerce with the development of its data-driven analytics engine, Watson Analytics. But, cognitive procurement is much more than data and AI. It is the sum of many parts of a business ecosystem that integrate to produce synergies, like data fusion, … Continue reading The Cognitive Procurement “Ecosystem”