A few years ago, companies used purpose to differentiate. It was an edge over their competition, something that was applauded by consumers. Today, it’s the expectation. Businesses want to not only do well for their companies, they also want to make a difference in the world, and between modern slavery and extreme poverty, the supply chain is the ticket. We’re living in an age where supply chains are becoming more and more complex and what you can’t see can hurt you.
Between budget cuts and complex contract language, managing IT spend and relationships with software vendors can prove to be quite challenging, especially if you’re not in a position with leverage. With new technology constantly being introduced to the market, best-in-class procurement teams understand the importance of being in a position with leverage – allowing the business to be in control of the vendors’ influence and the ability to evaluate alternatives.
Not many people can say they haven't heard the voice of a young child asking “Why?” No matter what the subject matter we all seem to be programmed to want to know the “why” behind the “what.” The procurement workplace is no different but we tend to find difficulty in connecting these. Understanding the ins and outs of theory and practice become essential to success in the procurement world.
This month’s column features big thinker Ronald Dworkin. I like Dworkin because he tackles and integrates major ideas in ethics, morality, equality, justice and the “unity of value.” One of his most famous of many books is entitled Justice for Hedgehogs.
Don’t let the humorous book title fool you; there’s no question that Dworkin is a heavyweight. Dworkin is a Professor of Philosophy and the Frank Henry Sommer Professor of Law at New York University and Emeritus Professor of Jurisprudence at University College London.
Empowering Organizations to Create Sustainable Value - The Need for a Holistic and Integrated Procurement Environment
Dawn Tiura: One of the things I first wanted to talk to you about is understanding a little bit about your history. How did you get to be where you are at Nitor?
In a recent 4C poll* of 227 UK retail procurement executives, 89% responded that they either had no plan in place or were unaware that their company had a plan in place. What should you consider now so that you’re prepared for the March 2019 Brexit deadline?
Mark Pollack (MP): Jamie, tell our readers about yourself and your role within the organization.
Jamie Ogilvie-Smals (JOS): GEP is the largest provider of unified procurement solutions in the world, combining strategic consulting, managed procurement services and cloud-based procurement software. We have a rapidly-expanding, blue-chip client base of Fortune 500 and Global 2000 companies in Europe, Asia and the Americas.
Education is the great equalizer. Yet when it comes to capturing opportunities to learn, there is a significant divide between the “haves” and “have nots.” Technology is a powerful tool that can change this, and non-profit organizations across the country are beginning to leverage it to bridge the gap.
Fueling Innovation and Choice
The entire source-to-pay spectrum in procurement stares at the eventuality named automation. With automation having the potential to lower procurement costs, generate greater savings and render greater value, its aggressive foray into the source-to-pay spectrum remains only a matter of time.
Innovation in most sectors has its roots in technology. What is curious though is that the outsourcing industry that plays such a big part in transforming other sectors has somehow ignored the need for innovating its own business models.
There is clear evidence of headwinds and industry players need to innovate to stay relevant and play their part in the IT supply chain of the future in a fast changing market place. And the time for them to do so is running out fast.
There are some notable trends that underline the need for change -