Procurement Transformation Experts Offer Reflections and Insights
Supply Chain Management Leaders Discuss Procurement Transformation. Source One’s Newest Whitepaper Series Collects Procurement Transformation Insights and Observations from Industry Thought Leaders.
Willow Grove, PA, May 8, 2018 – The Procurement Transformation specialists at Source One preseånt insights and observations from across the industry in their new series of whitepapers. Throughout Procurement Transformation: Industry Perspectives, the leading firm will publish reflections from their own consultants as well as other supply management thought leaders.
Since 1992, Source One has worked to refine its own Procurement Transformation offering. Enabling clients to align Procurement’s people, processes, and technologies, they continually promote the department’s strategic evolution. Their Procurement optimization team regularly publishes its insights across various publications and presents thought leadership at industry conferences.
“Procurement Transformation means something different to every organization,” says Associate Director and Procurement Transformation Practice Lead Jennifer Ulrich. “Our goal with this new series of whitepapers is to reflect that fact. Capturing a diverse range of expert perspectives, we hope to offer something that Procurement groups at any maturity level can engage with.”
Published over the next two months, Procurement Transformation: Industry Perspectives will include Ulrich’s thoughts on Procurement Transformation as well as reflections from the following supply management figures: Jim Baehr (Group Lead, Sourcing Strategies Group), Kelly Barner (Managing Editor, Buyer’s Meeting Point), Diego De la Garza (Director, Source One) Phil Ideson (Managing Director, Palambridge), Michael Lamoureux (Editor-in-Chief, Sourcing Innovation), Naseem Malik (Managing Partner, MRA Global Sourcing), Kristian O’Meara (SVP of Value Engineering, JAGGAER) , Joseph Payne (VP of Professional Services, Source One), and Tom Rogers (CEO, Vendor Centric).
Visit this page in the coming weeks as Source One releases new installments:
- Part 1 – “Procurement Transformation: Then & Now” – Sourcing Strategies Group’s Jim Baehr looks back on the history of supply management in the first installment of Procurement Transformation: Session Insights. Starting in the early-1980s, Baehr charts the development of the term ‘Procurement Transformation.’ It’s a term, he suggests, that’s changed nearly as much as Procurement itself. In just a few decades, it’s matured from an academic notion to a daily concern for sourcing teams across nearly every industry. Today, organizations at every maturity level consider it a primary objective.
- Part 2 – “The Right Mindset” – The Art of Procurement’s Phil Ideson and Source One’s own Joe Payne take a closer look at Procurement’s state of mind. So many transformations fail, they suggest, because the department’s mission, motivations, and mindset are flawed. Ideson advises Procurement to rethink its definition of the term transformation and work to emphasize the enterprise-wide impact of these initiatives. Payne reminds readers that the ‘how’ and ‘what’ of Procurement Transformation aren’t nearly as important as the ‘why.’
- Part 3 – “People, Processes, and Technologies” – Procurement Transformations – from the incremental to the sweeping – treat Procurement’s people, processes, and technologies as interdependent. Not all transformations are massive undertakings, but successful initiatives always address these three components. Buyer’s Meeting Point’s Kelly Barner, MRA Global Sourcing’s Naseem Malik, and JAGGAER’s Kristian O’Meara provide their thoughts on these pillars of Procurement Transformation.
- Part 4 – “The Road Ahead” – Even the most comprehensive and effective initiative can’t transform Procurement for good. The department must take pains to ensure the spirit of innovation and evolution don’t disappear with the end of an initiative. Vendor Centric’s Tom Rogers suggests post-Transformation Procurement teams serve as risk managers, Sourcing Innovation’s Michael Lamoureux champions emerging Advanced Sourcing tools, and Source One’s Diego De la Garza calls for Procurement to take a more active role in shaping its internal perception in this installment.
- Part 5 – “The Last Word (For Now)” – Jennifer Ulrich, Source One’s Procurement Transformation Practice Lead, brings the series to a close with this insightful installment. Taking a closer look at metrics and reporting, Ulrich describes the importance of tracking Procurement’s performance, communicating its success, and making its evolution part of an ongoing, company-wide conversation. Closing the paper, she reminds readers that Procurement Transformation continues to evolve alongside the function. It’s up to the next generation of Supply Management professionals to synthesize today’s best practices with tomorrow’s wisdom.
Waiting for the next installment? Check out Source One’s blog and podcast to learn more about the innovative firm’s approach to Procurement Transformation initiatives.
Corcentric is a leading global provider of payments, procurement, accounts payable, and accounts receivable solutions to enterprise and middle-market companies. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.