In today’s world vendor fraud schemes are on the rise and criminal elements become ever more sophisticated, resulting in cost inflation and worse. The overall pecuniary loss to the company can be staggering when legal and investigative fees, changes to systems and processes etc are factored in. Then there are the non-monetary factors such as … Read more

I recently ran a Poll on this subject, with most voters voting for good old mk 1 Human Intelligence over AI. Some would state that the obvious reasoning for such voting results is that none of us want to accept the fact that we can be replaced, and possibly will, by in essence a machine. … Read more

I recently ran a Poll on this topic with the results reflecting that most participants voted that Dual or Multi Sourcing (or Supplier Tiering) policies is a necessary Procurement Risk Mitigation strategy. I experienced this for real, many times, but most prolifically during the geologistics aftermath of 911. Beyond the obvious Procurement Gloden Staples of … Read more

To any strategic sourcing initiative there are eight basic “foundation” components (or steps) to building an organised strategic sourcing model. These guide the Procurement function when managing improvement, or effecting change to spend areas or processes, with the overall goal of reduced cost and greater process efficiency and effectiveness. These components can be used collectively … Read more

Ethics in procurement consist of a wide based set of values (or ethics code) that govern the Procurement Process for both the buyer and suppler base, ensuring professionalism and integrity for all concerned parties. These Ethical values would provide for critical considerations such as expectations, vendor and internal stakeholder relationships, social responsibility, environmental, supply and … Read more

Some while back I posted a LinkedIn Poll on what are the current major contributing factors to Procurement Risk. Many thanks to those that participated. The feedback from the Poll was statistically as follows: Rising Logistics costs as a factor: 40% Unspecified Macro Eco-Political reasons: 30% Knock on effect from the Russo-Ukrainian War: 18% Unspecified … Read more

Introduction to topic In this two- part article, a broad overview to frame working Strategic Vendor Management shall be covered. In part One we dealt with what defines SVM, why you need it and do you need it. In the second part of the topic, we shall review the components of the actual SVM Framework. … Read more

Introduction to topic In this two- part article, a broad overview to frame working Strategic Vendor Management shall be covered. In part one I shall deal with how SVM helps the organisation and how to know whether an SVM Programme is needed. Defining Strategic Vendor Management Strategic Vendor Management (SVM) aka Vendor Relations Management is … Read more

Introduction This topic presented as a series of two overview sub- articles pragmatically explores the reasons why an empowered quality-based HC component, is vital to you the Procurement manager. In article one we covered the impact of human capital on management and operational outcomes. In this second part we shall briefly focus on Internal Stakeholder … Read more

ARTICLE ONE Introduction This topic is presented as a series of sub- articles pragmatically exploring the reasoning why an empowered quality-based HC component of your Procurement Management Portfolio, is vital to you the manager. Tech companies naturally tout the benefits of their technological solutions within Procurement, and they do have a genuine sales point. However … Read more