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Today Buyers Meeting Point welcomes Michael Hinkley, an intern at Source One Management Services, as our guest. The Source One Management Services team plays an active part in the guest blogging scene on Buyers Meeting Point. Every month, they send me a submission and we work together to tweak it until it is ready to run.
In September, they sent me a very interesting post on the role of forecasting and planning in procurement. You can read it on Buyers Meeting Point if you’re interested. The only thing is, there was no author listed. When I asked who had written the post, they told me it was from one of their interns and given all of the discussion on the rise of Millennials in the workplace, and the anticipated changes in procurement in general, I thought to myself, this is someone I have to meet.
Michael Hinkley is a student at the University of Chicago majoring in Economics. In his role at Source One, Hinkley is a valued extension of the consulting team, working closely with analysts and project leads to support strategy execution. He is adept at conducting thorough cross-category research of commodities, suppliers, and markets. He also assists in the facilitation of the sourcing process through data analytics and RFP execution. Prior to his role at Source One, Hinkley was a Finance Intern at Green Flash Brewing Co. where he supported accounting processes for the company including analyzing the progress of various supply chain functions and monitoring the profitability of different brands, package sizes, and distributors.
You can read Michael's post on Buyers Meeting Point: Techniques for Accurately and Efficiently Forecasting Demand
In this episode, Buyers Meeting Point welcomes Alun Rafique and Anya McKenna, both from Market Dojo, to share how their unique approaching to branding also applies to how procurement should handle today's challenges and opportunities.
For anyone not already familiar with Market Dojo, they are a procurement solution provider, but also a decidedly 'personality-first' company – as evidenced by their creative YouTube videos and branding approach.
You'll want to watch some of their (very) creative YouTube videos after listening to this interview.
Today Buyers Meeting Point welcomes two guests from Wake Forest University: Dr. Jim Narus and Dr. Michelle Steward. They have been conducting research into the role of social media in procurement since this summer and have some results to share with us.
In this conversation, they share some of the results and conclusions from their research, including:
Some of the trends being seen in the B2C 'customer journey' are relevant to B2B customers as well.
Procurement is spending more time using technology at the beginning and end of the process - supplier evaluation and management - than during the middle of the process.
Leading procurement adopters of digital technology are most likely to be new or in tech-savvy industries.
Dr. Jim Narus serves as a Research Fellow at the Institute for the Study of Business Markets at Pennsylvania State University. Professor Narus is involved in a variety of international marketing research projects and also regularly teaches abroad. He has worked as a marketing professor at Wake Forest University since January 1988.
Dr. Michelle Steward is an Associate Professor at the School of Business at Wake Forest University. Her research interests center on issues involving role management and the coordination of internal working relationships, and how each drive superior performance in business-to-business markets.
Procurement and social media . . . is it a pairing made in heaven or the other place?
In this month's Point - Counterpoint discussion, Kelly Barner and Jon Hansen talk about the impact that social media has (and ultimately will) have on our profession.
Today Buyers Meeting Point welcomes Phillip Ideson as our guest. Phil is the Founder and Principal Consultant at ProcureChange, a boutique advisory firm that helps companies turn procurement into a competitive advantage through the use of as-a-service delivery models.
Philip has 15 years of experience driving procurement transformation for leading brands such as Pfizer, Ford, GM and Chiquita. He has worked across the entire procurement value chain, both as a subject matter expert and a leader. Philip has worked on both sides of the outsourcing table, as a buyer and a delivery leader.
Jonathan O’Brien, CEO at Positive Purchasing, has written a number of weighty books for procurement and supply chain professionals: Category Management in Purchasing, Negotiating for Purchasing Professionals, and Supplier Relationship make up the ‘big three.’
When I interviewed O’Brien, I asked him about the role that his books play in the creative process and he told me, “It is a constant writing process… I just kept writing and kept adding to it and gradually it kind of formed. The lovely thing now is that I have this body of work and it’s about making sure it continues to be relevant.”
I took full advantage of the opportunity to pick O’Brien’s brain on all things procurement, and in addition to discussing the recently released 3rd Edition of Category Management in Purchasing (read my review here), I asked him:
Why ‘purchasing’ rather than ‘procurement’ in the titles of your books?
What conditions are pre-requisites for a strategic procurement function?
Can procurement change at the rate required for us to stay ahead of the world around us?
For more about my conversation with O'Brien and what it means for procurement as a whole, read Conversation with the Author: Jonathan O'Brien on Why His Revised Editions Add but Don't Remove Information on Buyers Meeting Point.
Today Buyers Meeting Point welcomes Constantine Limberakis as our guest. Constantine is the Director of Product Marketing at Determine – which until earlier this week was known to us as Selectica. Constantine came to Determine via Selectica’s acquisition of IASTA in 2014. Prior to that, Constantine was a Senior Research Analyst in Aberdeen’s Global Supply Management practice.
In this interview, we'll discuss...
How multiple companies (and their executives) were able to come together as one,
How they are entering their next phase as a single solution under one new brand name,
And most importantly, what it all means for procurement practitioners and their companies.
To learn more about Determine and their re-branding, click here.
In September, Procurement Leaders ran an article by Tyler Chamberlain, Coupa’s global head of spend management, on the benefits of getting a solid procurement function established earlier in a company’s growth curve.
As he stated in the article’s title, “If it ain’t broke, don’t wait until it is.” The premise is that making investments in procurement talent and technology before problems arise prevents many problems from ever arising. Supplier records that are managed well from day one never need a massive clean up. Processes that have been in place as long as anyone can remember don’t have to overcome compliance hurdles. Spend that is managed centrally never has the chance to break between direct and indirect.
Perhaps more importantly, procurement has control of their internal image from the outset and can build their brand around positive results rather than problem resolution. When we hear Chamberlain’s message from this perspective, all organizations and procurement teams benefit from his recommendations, not just the start-ups.
Click here to read more about my conversation with Chamberlain.
ED TECH PROCUREMENT
3rd Quote's Edwin Wargo & Alpesh Patel on how one Iowa school district is saving dollars and time with high tech comparison shopping with Howard-Winneshiek Community School District Superintendent John Carver and Network Administrator Harold Jensen.
www.the3rdquote.com @3rdquote @johnccarver @howywin
Today Buyers Meeting Point welcomes two guests from Wake Forest University: Dr. Jim Narus and Dr. Michelle Steward.
Dr. Jim Narus serves as a Research Fellow at the Institute for the Study of Business Markets at Pennsylvania State University and Dr. Michelle Steward is an Associate Professor at the School of Business at Wake Forest University. Back in December, they both joined me to talk about how the customer journey has changed because of the use of digital tools – and what that means for B2B procurement. Click here to listen to The Influence of the Digital Environment on Decision-making in Procurement on BMP Radio.
In this follow up interview we discuss:
How the inclinations of Baby Boomers, Generation Xers, and Millennials differ with regard to evaluating suppliers
How procurement reacts differently to positive and negative reviews and what difference the source of the review makes
Whether the growing reliance on external supplier feedback had led to a greater willigness on the part of procurement professionals to offer up their own review
Purchasing is not yet widely perceived as a premier league profession; certainly not when compared to, say, marketing, law, investment banking or entrepreneurship. But continued efforts by leading companies to exploit the power of effective purchasing have given Procurement a more important role in the corporate theatre.
The above statement was made by Sigi Osagie author of Procurement Mojo: Strengthening the Function and Raising It's Profile
What makes it interesting is the fact that there has been no shortage of discussions on procurement from the standpoint of its emerging strategic importance to the need for procurement professionals to finally get their seat at the executive table.
In yet another unique look into the rapidly changing world of procurement and what it means to not only those in the profession but business, I am pleased to welcome to the show Sigi Osagie.
Jon Hansen and Kelly Barner are the co-authors of ‘Procurement at a Crossroads: Career Impacting Insights into a Rapidly Changing Industry’ (November 2015) takes a close look at the field of procurement during a time of extraordinary transition. In the book, the authors identify nine key questions critical to those in the profession and then present multiple perspectives on each. The topics include changing professional demographics, technology, media coverage, public vs private sector, and finance without shying away from traditionally taboo subjects or points of view.
In this webinar, the authors will review the nine questions and discuss what today’s ambitious procurement professionals need to do to seize the opportunity represented by our current time of change.
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