Did you know that 70% of digital transformation initiatives/projects fail annually, despite $1.13 Billion USD being spent worldwide. This is according to the WCC (World Commerce and Contracting) organization. That is $.9 Billion USD being spent worldwide that does not lead to process efficiency and savings for the companies that spent that money. Why did…
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…
Having spent many years developing relationships with the business functional leaders in my company and continuously providing value to them, I was selected as the lead procurement liaison to a sales focused steering committee to discuss new programs. At the first meeting the need, as viewed by the sales team, was outlined as it was…
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…