What Is the ROI of a Procurement System?
When making any kind of a decision about digital transformation, people like to talk about the Return on Investment (ROI). What is the ROI of a procurement system? How can we think quantitatively and qualitatively about the costs and benefits? Imagine Betty Buyer. Her CFO tasked her with finding a new procurement system to replace […]
How Does Bureaucracy Affect Procurement?
Bureaucracy, for all its intent to protect the buyer, ends up hurting the buyer by limiting competition far more than it protects the buyer from bad actors.
Everything Is Sourcing
Sourcing is matching: finding the best solution to a problem.
How Many Sourcing Systems Should a Buyer Have?
“Nearly half (49%) of agency respondents indicate that they are failing to attract enough interest among vendors and contractors to their competitive solicitations.”
Why Choose a Best-of-Breed Sourcing Vendor?
The defining aspect of the 21st century supply chain will be the need to connect people, data, and processes.
How Do You Educate Your Customers?
Perhaps the most interesting scenario would be if the buyer invited several suppliers to send her their individual Model RFPs. Instead of having a single, common RFP document to which every supplier responded, each vendor could simply send their Model RFP and their related answers. In reading multiple Model RFPs, the buyer would garner a tremendous amount of market intelligence from the questions that different suppliers included.
How Should You Measure Procurement Performance?
Perhaps the best way to measure procurement’s strategic performance is to do so qualitatively.
Make It Easier for Suppliers to Give Buyers What They Want
Buyers have taken so many steps to protect themselves that they have made it significantly more difficult to maximize the benefit from an acquisition. The tradeoff between risk and reward is out of whack.
What Can Dating Apps Teach Us about Procurement?
Procurement poses a similar problem: efficiently matching buyers with the right suppliers for the best combination of value and risk.
Why Use Templates in Procurement?
The best way to improve acquisition performance is to make it easier for suppliers to give buyers what they want.