What is ESG? Wikipedia defines the term as follows: Environmental, Social, and Corporate Governance is an evaluation of a firm’s collective conscientiousness for social and environmental factors. It is typically a score that is compiled from data collected surrounding specific metrics related to intangible assets within the enterprise. It could be considered a form of…
Understanding that all sourcing requirements provided to suppliers must be as definitive as possible; the supply management professional should not disregard the importance of the eventual supplier selection being a strong strategic fit and cultural fit with your company by providing a supportive contribution to enhance your company’s strategy. This means that your selected supplier…
The category manager should lead all contract negotiations and provide input to all bid responses and support bid proposal development. If your company utilizes a contract management lifecycle system to manage your supplier contracts, then the category manager should be responsible for maintaining all contract document repositories. As needed, the category will provide guidance on…
BY: Jim Moran, C.P.M., CPSM, CPCM, CCC-AP; Principle at JRM Supplier Consulting LLC What is P2P? According to Wikipedia, Procure-to-pay (also known as Purchase to Pay (P2P)) is a term used in the software industry to designate a specific subdivision of the procurement process. The P2P systems enable the integration of the purchasing department with…
Have you ever experienced a project failure due lack of early involvement? Imagine, you are tasked by the Exec VP of HR to assist the VP of Workforce Development (Project Lead) in reviewing options to outsource a critical function that cost in excess of $95 M over the last 5 years. However, you are not…