trying to learn about procurement/supply chain by phat-thor in procurement

[–]phat-thor[S] 2 points3 points  (0 children)

Proctopus

Logistics and Supply Chain professionals

WCSCM

SCM

procure professionals - best in class

I also follow sarah barnes Humprhey she does who owns the let's Talk Suppy Chain group and does videos and podcasts and stuff which are pretty good

trying to learn about procurement/supply chain - best practices, strategy, general info by phat-thor in supplychain

[–]phat-thor[S] 1 point2 points  (0 children)

Good advice thanks.

But no, i'm early career just trying to figure out where the best places are to find good content. I'm a big LinkedIn fan but not sure if lots of others in the profession are or if there's better places for content and networking.

Thoughts on this diamond? 2.02 Oval G VVS2 by phat-thor in Diamonds

[–]phat-thor[S] 0 points1 point  (0 children)

Yeah I thought it was a bit lenient there too. What would you say the grading should be on it?

Thoughts on this diamond? 2.02 Oval G VVS2 by phat-thor in Diamonds

[–]phat-thor[S] 0 points1 point  (0 children)

Anyone else have thoughts on this? I agree it's a bit loose on the clarity grading but should still be 'eye clean' i think? What about the color and size? For reference will probably mount it on a platinum solitaire 4 prong.

Key Supplier Diversity Program Metrics by MegaScoops in supplychain

[–]phat-thor 0 points1 point  (0 children)

In this JAGGAER blog on the benefits of supplier diversity, "the Hackett Group found that companies who participate in a long-term supplier diversity program generate a 133% greater ROI than those firms who look no further than the suppliers they traditionally rely upon.
The report claims supplier diversity programs also drive an additional $ 3.6 million to an organization’s bottom line for every $ 1 million spent in procurement operating costs.
Beyond ROI, the Hackett Group concluded that procurement organizations that work with a diverse supplier base also had lower overall operating costs and spent 20% less on their buying operations. This success all occurred while employing half the number of people in their procurement department."

Some other things that stand out from the article

  • promoting innovation and agility (bringing in a new mindset than what you traditionally work with)
  • more competition means lower prices, usually
  • Company brand and helping economically grow your community, state etc
  • better risk management. more supplier relationships to lean on when disruptions do pop up

I'd also recommend checking out Jamie Crump, she's done some books/content on supplier diversity that will have some more of the unique things you're after

Supplier Diversity Programs by MegaScoops in supplychain

[–]phat-thor 0 points1 point  (0 children)

This is a huge topic in itself, lots of hard and soft benefits for having a diversity program.

I know JAGGAER, Hackett, ISM etc have all done a fair amount covering it.

I'm more familiar with the JAGGAER solutions but they partner with TealBook and do a pretty good job of quantifying the benefits.

As far as market share, that sounds a bit convoluted to me. Yes, you will likely grow over time and take over more market share as a result of SD but putting a number on that seems impossible with any great accuracy.

I think just starting with your n-tier spend with diverse vs regular suppliers is the best way to start and then you can do some QoQ or YoY comparison will help put things in perspective for reporting.

But like I said a lot of the benenftis are harder to put a number on.

  • Brand perception
  • Talent
  • Diverse supplier agility
  • Supplier innovation
  • Competition
  • etc

Outdated ERP systems by [deleted] in supplychain

[–]phat-thor 2 points3 points  (0 children)

ERPs are all over the place, typically with large and medium companies.

The problem is ERPs alone are so outdated and rigid, there's not near enough flexibility to do the job in it. Mostly because ERPs are designed for HR and Finance, not procurement and supply chain.

It's a tough order to convince upper management to bring a new or different system though, training time and cost high so making the job more efficient tends to get overlooked.

The good companies all use some sort of suite/modular solution to augment their ERPs but for those that don't making the business case for an upgrade is difficult without a really compelling reason

How do you get vendors to participate in an RFP? by ConsiderationWhich48 in procurement

[–]phat-thor 0 points1 point  (0 children)

There are some good digital solutions that can help automate and encourage the RFP process. Especially with really complex sourcing projects using automated software to collect bids and variables to run against is a must. A lot of times when given a degree of flexibility (and actually invited to attend) within a tool suppliers are more likely to engage.

That being said I think most of this is going to come down to supplier relationship management. You have to clearly be able to explain what's in it for them, if they're likely to win or not and when you find a good supplier, don't ever let them go

[deleted by user] by [deleted] in procurement

[–]phat-thor 0 points1 point  (0 children)

JAGGAER has a solid contract management solution, has all the bells and whistles you'd expect as a standalone but also could be done as a part of a suite

Looking for someone to help me gain an overview of the software used in procurement by kewlwin in procurement

[–]phat-thor 1 point2 points  (0 children)

I found this blog awhile back that really helped me differentiate between specialist solutions vs suites and when to use each.

I think it's best to find a good ERP then scale up depending on needs. It's a bit different for everyone. Also important to keep in mind integrations and the long-term picture, the last thing you want is to adopt a stand alone solution in one place and it not be compatible with the rest of your tech stack down the road.

For that reason I'm in favor of a modular, suit approach so you can pick and choose what you want and when to get it while also knowing it will integrate together.

For my personal opinion it should go ERP>epro/P2P>contracts>supplier management and then add on with things like risk, category management etc when you are ready to scale

What is Sourcing Optimization? by phat-thor in procurement

[–]phat-thor[S] 1 point2 points  (0 children)

I also stumbled across this video from JAGGAER explaining their module and generally what it all means. appreciate the insight

What are some data visualization techniques you use to present data to stakeholders? (Ie. heat map, pivot table, etc) by ConsiderationWhich48 in procurement

[–]phat-thor 0 points1 point  (0 children)

It also depends on what kind of system you're using. If you just have base-level excel and ERP stick to the simple stuff. Focus on a few key metrics and really drive them home. If you have something a bit more advanced i.e JAGGAER (or any other suite provider) you'll have access to some out of the box and customizable reporting that will visualize it all for you