When choosing a purchasing skills ssessment, procurement executives need to think about practicality, reliability, validity, and impact.
Using Purchasing Skills Assessments to drive superior team results
Using Purchasing Skills Assessments to drive superior team results We discuss ways to motivate procurement teams and individual team members using Skills Assessments to drive superior team results. One of the most significant challenges CPOs face is their team’s strategic personal development to ensure their talent’s effective use. To correctly manage this critical resource, they must identify their business challenges … Read More
Measuring Procurements Financial Impact: RONA
It is becoming increasingly important that procurement is able to measure and report its impact on company performance, using metrics the CFO will understand and accept. RONA or Return on Net Assets, is one such metric. RONA, is a financial measure that helps to express the relationship between profit, sales, expenses and total assets. RONA demonstrates how a company … Read More
The Key Principles of Category Management
Implement the Key Principles of Category Management If you are interested in making category management a priority, implementing the key principles of category management will help place category management at the heart of your company’s overall business strategy. Here is a bite-size look at the key principles of category management: Category management is founded on five key principles: Cross- functional team approach … Read More
2013 IBM Study on Procurement Excellence:
‘An illusion of best procurement practice’? Perhaps it was the fact that this reports findings strongly align to the Purchasing Practice lines of practice that it caught my eye among the daily swirl of procurement news. Or is it just an illusion of best procurement practice? Large IBM Study Identifies Key Characteristics of Best Procurement Organizations The report … Read More
Procurements Place in the Value Chain
Procurements Place in the Value Chain Procurements Place in the Value Chain – An interesting commentary from Spend Matters on procurement’s position in the supply chain which supports my own views (maybe that’s why I found it interesting). Namely, that procurement is the upstream part of the supply chain, where initial value is captured, whilst warehousing and distribution are downstream … Read More
‘Theory in Practice’ – an Experiential model for Procurement E-learning: Part 3
A Step change in Procurement E-learning Training: A three part guide for procurement professionals and training mangers to assess how E-learning can be an effective part of their professional development Here in part 3 we discuss how our model produces measurable outcomes and sum up the topic Measuring Learning Outcomes By starting with the end in mind the course design … Read More
Theory in Practice – An Experiential model for Procurement E-learning: Part 1
Theory in Practice – An Experiential model for Procurement E-learning: A three-part guide for procurement professionals and training-mangers to assess how an Experiential model for Procurement E-learning can be a productive part of their professional development. Here in Part 1 we introduce some of the problems associated with e-learning, discuss how corporate professionals learn and propose our solution to E-learning. … Read More
The New CPO's F100D
The New CPO’s F100D The New CPO’s F100D – The CPO’s chair has become a true corporate hot seat with an average tenure of a CPO of four years or less. The first 100 days (F100D) in this hot seat can set the tone for the months ahead, and the F100D of a new role can be stressful; How bad … Read More
Procurement Brand Development
Procurement Brand Development “A brand is a promise. By identifying and authenticating a product or service it delivers a pledge of satisfaction and quality.” Walter Landor. Why does Procurement need a Brand? Procurement’s brand is arguably the CPO’s most valuable asset. Procurement’s brand is the totality of how its stakeholders see’s, talks about, and experiences it. CPO’s must therefore have … Read More