By Kate Vitasek If your company is like most, it promotes ‘boilerplate’ contracts or, at a minimum, pushes for standardised terms, such as contract length, warranties, a 30-day termination of convenience clause or 90-day payment terms. While this may make your lawyer and Chief Financial Officer (CFO) happy, Russell Korobkin suggests that using standard contract […]
14 November 2019
Speed to value can be elusive but it is of vital importance for any organisation. Many procurement organisations realise the increasing pressure to maximise savings and accelerate delivery timelines. But they also want to mitigate supplier risks. Altogether, legacy manual processes and age-old frameworks compel procurement leaders to rethink their strategy. Subhro Sen, from procure-to-pay
With Halloween just past, it is time to consider whether your boss is scarier than your average ghoul or if your career is in the grip of a scary, old-world Chief Procurement Officer (CPO) and thus doomed to wither… Tania Seary, Founding Chairman of three companies specialising in the development of the procurement profession –
By Sammeli Sammalkorpi, VP: Customers and Co-founder of procurement analytics solutions provider Sievo In late 2017, MIT’s Sloan Management Review (in collaboration with the Boston Consulting Group) seemed to confirm what most in procurement had long inferred. Our expectations for artificial intelligence (AI) are well out of proportion with our preparedness. In short, we are
Over the last half-decade or so, technology has become increasingly more disruptive within the procurement industry. Across various offerings, you are promised the next big thing in procurement management that will help you save time and money and, ultimately, improve the way your organisation approaches the end-to-end procurement process. However, an effective procurement solution is
Irrespective of what you think about the way in which private- and public-sector procurement is conducted, the ultimate objective is the same. Creating ‘value for money’ is the most commonly used term among purchasing individuals. Government procurement expert, Stephen Bauld, has spent half his career working with private-sector organisations and the other half working with
By David Loseby Behavioural procurement (BP) is a sub-field of behavioural economics and concerns itself with the application of behavioural science, social science, decision science and applied cognitive psychology to commercial activities. For years the profession has talked about soft skills (I prefer to call them people skills) without a clear definition of what exactly
By James Marland, Global Vice President, SAP Centre of Excellence for Spend Management Welcome to the world of autonomous procurement, where procurement professionals are augmented by machines and can focus on strategic relationships which require human creativity and empathy.
The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) rose to 48.1 index points in October 2019, up from 45.1 index points in September 2019. The October level was slightly higher than the average of 47.3 recorded during Quarter 3 and in line with the average of 48.3 points recorded during the first nine months of 2019.