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7 Indispensable Tips for Procurement Success we learned from the Experts

Posted by Michelle Fombelle on Sep 23, 2016 8:30:00 AM

Earlier this week we hosted Innovation ’16 Best Practices in Spend Control – our annual conference, where industry experts provided attendees with a lot of great information to take back to their management and procurement teams.

At the event, several top experts in sourcing and procurement came together for a panel discussion. With the panelists varied backgrounds shining through it made for an interesting panel discussion. The group  – David Golub the President of Golub Consulting Solutions, Dawn Tiura the CEO and President of Sourcing Industry Group and Jimmy LeFever a Research Director at PayStream Advisors – talked about what they consider the most valuable tips for sourcing and procurement success.

Here they are in no particular order:

  1. Education, Education, Education

This is education of yourself, your staff and top management. If we are not constantly learning we’re behind. Look to the news, conferences, category experts…maybe even twitter. Just keep learning – things are changing faster than ever before and it is imperative to know what’s new and trending. Education goes beyond industry knowledge however, you need to educate those in your organization on the sourcing process and solutions leadership endorses.  Which leads to number two…

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Topics: Intesource Events, e-Sourcing Best Practices, Innovation Conference

Sourcing Strategies for Sustained Success

Posted by Kelly Deacon on Sep 2, 2016 8:30:00 AM

This post originally appeared in March of 2015 after Innovation '15, our annual user conference and procurement best practices pow wow. 

Now, as we inch closer toward our Innovation '16 gathering, attendees can get a taste of what they have to look forward to. {HINT: It's not too late to register!)

Without further ado!

We just wrapped up Innovation 2015, our annual sourcing best practices conference. There were a ton of terrific business leaders in attendance, including executives from top companies such as Rite Aid, Wegmans, The Container Store and Meijer, along with industry thought leaders from The Nielson Group, Spend Matters, The Ferrari Consulting & Research Group and Lunney Advisory Group

A lot of insights were uncovered and shared at Innovation. For all the details, the conference recap is a must-read! In the meantime, here are some highlights from the conference focused on the right strategies for success.

The global supply chain is being impacted by a variety of factors, and it’s up to procurement leaders to not only ensure their organizations are aware of these forces, but also leverage them to create positive business outcomes.  Which trends should procurement and sourcing executives pay attention to?

  • Today’s consumers are more empowered than ever, demanding quality, responsibly-sourced products and niche options, which is forcing organizations to change how they manufacture, source, market and sell goods and services, since catering to these demands require extensive visibility into the supply network.
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Topics: e-Sourcing Best Practices, e-Sourcing Strategy, Innovation Conference

5 Steps to Procurement Transformation

Posted by Tracie Rohn on Apr 2, 2015 9:30:00 AM

At the beginning of March we hosted Innovation 2015 our annual conference, where Dr. Soheila Lunney, of the Lunney Advisory Group, provided attendees with a lot of great information to take back to their management and procurement teams.

One topic discussed was that Procurement Transformation is a Process. Effective changes within an organization are not going to happen overnight and will take ample support, planning, time and effort.

Procurement’s role is seen as ever-changing and can focus on the goal of saving money in the short term to utilizing strategic sourcing and procurement processes which aim to produce value in the long term.  

Over the past few years procurement teams are gaining recognition and are beginning to play a larger and more strategic role in the overall corporate growth and delivering sustainable business results. The procurement transformation has proven itself to be well worth it as we heard time and time again from customers who attended Innovation.

According to Lunney, successful transformations require five things:

  1. That they are designed holistically

    Plans and strategies should seek to understand relationships within the organization while understanding how everything works together as a whole to provide a successful outcome.
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Topics: Motivational, e-Sourcing Strategy, Innovation Conference

Sourcing Strategies for Sustained Success

Posted by Kelly Deacon on Mar 26, 2015 7:00:00 AM

We just wrapped up Innovation 2015, our annual sourcing best practices conference. There were a ton of terrific business leaders in attendance, including executives from top companies such as Rite Aid, Wegmans, The Container Store and Meijer, along with industry thought leaders from The Nielson Group, Spend Matters, The Ferrari Consulting & Research Group and Lunney Advisory Group

A lot of insight was uncovered and shared at Innovation. For all the details, the conference recap is a must-read! In the meantime, here are some highlights from the conference focused on the right strategies for success.

The global supply chain is being impacted by a variety of factors, and it’s up to procurement leaders to not only ensure their organizations are aware of these forces, but also leverage them to create positive business outcomes.  Which trends should procurement and sourcing executives pay attention to?

  • Today’s consumers are more empowered than ever, demanding quality, responsibly-sourced products and niche options, which is forcing organizations to change how they manufacture, source, market and sell goods and services, since catering to these demands requires extensive visibility into the supply network.
Continue reading →

Topics: e-Sourcing Best Practices, e-Sourcing Strategy, Innovation Conference

The Key to Unlocking Procurement's Value

Posted by Lindsay Bernacchi on Mar 19, 2015 8:00:00 AM

Last week was Innovation ’15, Intesource’s annual sourcing best practices conference. This was the 14th year the conference was held and it continues to grow and include new verticals each year. This year it included some of the top procurement and sourcing professionals from some of the largest and most successful retail, grocery, restaurant and food companies across North America.

Procurement professionals find this conference extremely beneficial because each company is very open and willing to share knowledge and information. It seems that everybody comes for a common goal of improving their current practices and learning how others are currently doing things. For this reason, everybody leaves having learned something new or with new ideas on how to tackle procurement projects.

One of the topics on everybody’s mind this year was supplier collaboration. This is not a new discussion but there is a building pressure on sourcing professionals to add to the bottom line and at the same time improve on quality, service and overall value. Having open communication with your suppliers helps to make this a reality.

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Topics: e-Sourcing Best Practices, e-Sourcing Strategy, About e-Sourcing, Innovation Conference

Why not all procurement conferences are created equal

Posted by Kelly Deacon on Jan 22, 2015 9:00:00 AM

Let me guess. You hate conferences.

Honestly, I don’t blame you.

If you're like me, you've attended conferences based on the promise that you’ll leave a better [insert professional title here], when in reality the sessions were thinly veiled excuses to get you in a room, tell you things you already knew (what happened to all that educational content and those motivational speakers?), then sell you on [insert product or service here].

Since our first Innovation conference in 2003 our registrants have dedicated time to attend this conference - to meet likeminded professionals and expand their sourcing and procurement knowledge.

Providing an experience that delivers on this expectation is a responsibility we take seriously.

The goal of the Innovation conference is to allow attendees to establish a strong network of sourcing and procurement professionals and industry experts who can share new perspectives and valuable insights on successfully implementing, managing, and/or expanding an e-sourcing initiative within their organization.

Whatever your individual or corporate e-sourcing maturity level or professional or organizational goals may be – you’ll find them supported here.

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Topics: Innovation Conference

Technology and Business Impacts on Industry Supply Chains and Procurement

Posted by Guest Contributor on Jan 6, 2015 8:00:00 AM

The role and contribution by procurement to the business is changing rather rapidly. The reasons are many and the change has accelerated because of evolving mega-trend convergence that surrounds various industry and services focused supply chains.

Customers are more technology empowered, more demanding, and less tolerant of sub-standard service. Consumers question the integrity, quality and value of food at much higher levels. They further demand transparency to the food supply chain.

The clock speed of business change has accelerated in seven by twenty-four dimensions.  Industry supply chains can no longer sit back and react to business, market and external changes they must be able to anticipate and respond to constant change or unplanned disruptions. As more than one Chief Supply Chain Officer has stated, speed rules, fast wins, and predictability and customer responsiveness is fundamental.

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Topics: Guest Posts, Intesource Events, Analysts & Research, Innovation Conference

3 Reasons the Smartest Procurement Teams Will Be In Las Vegas In March

Posted by Michelle Fombelle on Oct 30, 2014 8:00:00 AM

Each year we host Innovation Best Practices in Sourcing Conference. This year’s event will take place March 8-10, 2015 at the Palazzo in Las Vegas. So practice your poker face and bring your dancing shoes. We have some great speakers and fun networking functions lined up.

This conference is all about you! Who wouldn’t want to attend an event where the focus is on them? Our goal is to provide anyone involved in the procurement process - from executives to e-sourcing program managers to category managers - with a meaningful educational experience while you make new friends (a.k.a. business contacts).

We realize it's a big deal to take time off to attend a conference so here are three reasons you should attend (and they're good!):

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Topics: Intesource Events, Innovation Conference

Three Key Strategies for Driving Sourcing Innovation (Part 2)

Posted by Michelle Fombelle on May 5, 2014 7:30:00 AM

As you may recall last week in part one, I talked about the first strategy to drive the evolution of sourcing in your organization – an enterprise-wide procurement approach.  Sourcing and procurement professionals at our annual educational conference discussed the growing realization within their organizations that procurement can directly impact, and provide value, to nearly every area and member of the organization.

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Topics: e-Sourcing Strategy, Innovation Conference

Three Key Strategies for Driving Sourcing Innovation (Part 1)

Posted by Michelle Fombelle on Apr 29, 2014 7:30:00 AM

This year at Innovation ’14 – Intesource’s annual educational conference - sourcing and procurement professionals discussed the evolution of procurement from simply a cost cutting solution to establishing itself as a way to create financial growth. As we all know, these changes don’t happen overnight and some organizations are still struggling to raise procurement’s influence. If this describes your company, how do you make the argument to increase procurement’s importance?

It might be helpful to first explore why there’s a need. For starters, there is a growing realization that procurement can directly impact, and provide value, to nearly every area and member of the organization - whether through cost savings, improved performance, or gained process efficiencies. This in itself is a basic concept, however, considering that procurement has historically been looked at as merely a tactical function - this is news.

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Topics: e-Sourcing Strategy, Innovation Conference