Nearshoring: the fashion revolution

Rosanna Collins Blog, Procurement, Retail 0 Comments

Mention the phrase ‘fast fashion’ and most people will think of a cheap high street t-shirt with a predictable country listed on the inside label: China.  But increasingly, observant consumers are finding a new collection of countries on the label of their fast fashion clothing – countries that are a lot closer to home, such as Turkey and other Eastern European countries. This phenomenon is called ‘nearshoring’.  Why, in a world of innovation, …

Procurement and big data

Vincent Hauss Artificial Intelligence, Procurement 0 Comments

It comes as no surprise that the procurement function is using big data to drive digital change. According to a recent survey of over 650 leaders in procurement, supply chain and finance from Europe and North America, 72 percent of respondents stated big data and predictive analytics as one of the top five priorities for their organisations. These organisations are investing heavily in technologies that, beyond cost savings …

Game Theory and how to improve e-Auction value delivery

Sunny Agnihotri Blog, Procurement

Much has been written about the decline in savings from the long-term use of e-auctions. The law of diminishing returns is often quoted as applying to e-auctions in just the same way as any other sourcing strategy. So what can you do about it? After all e-auctions are a very efficient way of sourcing low-to-medium value/risk products, which could otherwise …

Public Sector – Is it right to be wary of The Cloud?

Public Sector – Is it right to be wary of The Cloud?

Daniel Bone and Dominic Rocha Blog, IT, Procurement

In recent years, procurement functions within the private sector have recognised the value of cloud technology and solutions, to the extent that procurement can play an integral role in the organisations move to digitalisation. This involves utilising cloud Procure to Pay (P2P) and Source to Pay (S2P) solutions to drive value for money. Despite the benefits reaped within the private …

Negotiation Strategies

What makes a good negotiation? Reflection on key characteristics

Adam Strauchold Blog, Procurement, Strategy

As procurement professionals, we frequently come across a view that negotiation is the core of our job – at times it’s even the only thing we are asked to do! Our stakeholders (managers of finance, operations, engineering, marketing, and other departments for whom we buy) see us as expert negotiators. Just picture a typical situation: a fleet director agrees with …

Procure-to-Pay software: how can virtual assistants help with user adoption?

Procure-to-Pay software: how can virtual assistants help with user adoption?

Joe Temple Blog, IT, Procurement

Take a look around a business that has implemented a new Procure-to-Pay system in the last few years and you will likely come across some user adoption challenges. Perhaps requisitioners have stopped using catalogues because they can’t find the items they are looking for, or don’t trust the pricing. Maybe line managers have overdue approvals in their queue because they …

Stepping out of the shadow to drive business value  

Stepping out of the shadow to drive business value  

Mark Ellis Blog, Procurement

I was fortunate enough to attend the recent Procurement Leaders Dinner, which was an excellent event to showcase procurement at the ‘top of its game’.  It leads me to wonder why our leading lights of the function have been successful in their enterprises, especially as most of the winners were truly focussed on transformation and creating business value. The attendees …

Buying fast and slow

Buying fast and slow

William Tickel Blog, Procurement, Retail

Businesses who aren’t paying attention to how they can learn and exploit the insights generated by behavioural economists, should expect to fall behind to those that do. BE insights focus on decisions we make under uncertainty i.e., most of the time. When we shop for example, there are so many different products available, that it’s impossible to objectively know the …