The Procurement Category

Professional Development in Procurement: Rationale and Strategies

One reader who wrote in to Ask Spend Matters last year posed an interesting question that fell outside of our editorial team’s wheelhouse: “What are the most pressing professional development needs for sourcing and procurement professionals today and for the next five years?” While we’ve fielded many of the procurement strategy and technology-focused questions we received, we thought our friends at MRA Global Sourcing would be perfectly suited to provide a compelling answer to the above. Read their response below!

With shifting market conditions, technological advancement and other factors, the procurement function is changing rapidly. If supply management professionals and their companies don’t keep pace, they’ll be at a serious disadvantage. As procurement evolves, so do attitudes toward professional development, and the way workers build their knowledge base. Let’s examine the state of professional development, and what’s on the horizon.

Preparedness for Data-Driven Procurement Lags Among Manufacturers, New Study Finds

The term “digital transformation” — whether applied to procurement or another field — is bandied around frequently, but as far as the average company is concerned, that transformation is still not in the near future. In a survey of more than 100 senior executives, LevaData found that although nearly all of them agree that data-driven procurement is critical to value creation, cost reduction and efficiency, only half think that their own procurement teams are ready to make use of predictive tools.

Commodities Roundup: Platinum and Palladium, Market Volatility Takes its Toll and China Shoots to Beat Steel Capacity Cut Timeline

procurement solutions stocks

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, our MetalMiner editors scour the landscape for what matters.

Healthcare Matters Merges with the Mothership

healthcare

Healthcare Matters is merging with Spend Matters to allow healthcare procurement and supply chain professionals to find industry news, updates, relevant insights and knowledge in a central location on a single site. Healthcare Matters content will now be found on spendmatters.com under the header Healthcare Supply Chain Management.

Creating a Legacy at SAP and Beyond: Where Barry Padgett Plans to Lead Ariba

The new year has brought procurement professionals an increasingly complex technology landscape to keep track of, and several new names to remember, too. One of those names to know is Barry Padgett, who took over as president of SAP Ariba in January.

Succeeding Alex Atzberger, now president of SAP Hybris, Padgett stands at the helm of a business network that connects more than 3 million buyers and suppliers transacting $1.6 trillion annually. As he begins to leave his mark on the cloud software giant, Padgett sat down for a wide-ranging interview with Jason Busch, managing director, SolutionMap and strategic advisory at Spend Matters, on where he hopes to lead SAP Ariba in 2018, what customer areas he’s targeting and the biggest lessons he has learned about creating a platform business.

Commodities Roundup: Chinese Steel Prices Drop, Copper Price Rises, USGS Releases Annual Mining Survey

copper

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, our team at MetalMiner scours the landscape for what matters. Here's what happened this week.

Top 3 Procurement Mergers and Acquisitions of 2017 (and 2018, So Far)

No matter the year, activity in procurement mergers and acquisitions (M&A) always tops the list of highly read Spend Matters coverage. It should be no surprise, as the short-, medium- and long-term results affect procurement providers and, ultimately, practitioners alike. Over the last year (and in the first month of 2018), we’ve seen several key link-ups whose ramifications have already begun to ripple throughout the sector. Here are the top events — in no particular ranked order — of the past 12 months or so, and what they mean to the industry, according to the Spend Matters analysts and extended team.

Taming the Tapeworm: Even Amazon Needs a Little Help

healthcare

As reported earlier this week, Amazon, Berkshire Hathaway and JPMorgan have announced a partnership to cut health costs. Apparently, the partnership won’t be Amazon-led but rather an independent company that will operate “free from profit-making incentives.” What does that mean? My best guess is that the new entity will deliberately bear no resemblance to the current group purchasing organization (GPO) supplier-paid fee model.

Procurement’s Innovation Deficit: The Wisdom of ‘Why Not?’

Procurement doesn’t have customers, it has prisoners. Although the statement is paraphrased (borrowed from sentiment long associated with enterprise software companies), does our profession deserve such criticism. Is it fair? Let’s face it, when it comes to driving innovation, procurement’s less than stellar reputation is well earned. Its inability to act as an intelligent and informed customer of the would-be innovator is generally so bad that companies have established separate offices dedicated to the practice. And here’s the rub. What do these innovation offices typically cite as their single biggest obstacle to success? You guessed it: internal procurement. We’ve got to fix this.

E-Procurement 2018 Trends and Forecast (Part 3: Provider Analysis and Market Sizing) [PRO]

AnyData Solutions

So far in this Spend Matters PRO series exploring 2018 e-procurement trends, we have covered both procurement organization (demand) and technology provider (supply) trends we are seeing in the market. Today we kick off the third and final installment of this series by examining three additional provider trends: the new, resurgent role of B2B e-marketplaces such as Amazon Business; new and varying approaches to chasing tail spend, including e-marketplace models; and the early rise of embedded artificial intelligence (AI) in an e-procurement context. Finally, we conclude this three-part brief with our 2018 market sizing for e-procurement and a list of trends we see driving demand in the market. Don’t forget to read Part 1 (2018 customer e-procurement trends) and Part 2 (2018 provider trends — M&A and B2B/P2P intersections), as well.

Commodities Roundup: Base Metals Trend Sideways (For Now), Section 232 Aluminum and World Steel Output in 2017

direct materials procurement

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets. From price movements to policy decisions, we scour the landscape for what matters. Here's what happened this week.

Q&A: How Coupa Views the Competitive Landscape Stretching Before It in 2018 and Beyond

Art of Procurement Podcast

We spoke recently with Leslie Campbell, a member of Coupa’s board of directors and a seasoned procurement practitioner, on the topic of fairness and gender equality in the workplace. “Leveraging each individual’s unique background and skill set to benefit the team, compensating them fairly and equally for their work, and providing the individual opportunities to grow and expand...isn’t unique to procurement,” she said, “it’s just good talent management.” The discussion of talent management continued with Coupa’s Executive Vice President of People Ray Martinelli, and then turned to Donna Wilczek, the firm’s vice president of product strategy and innovation, on how Coupa is setting itself up to compete with industry incumbents — not to mention newcomers.