Monthly Top 5 - February 2021

Author

Joël Collin-Demers
February 28, 2021 • 📖 5 minutes

Hi there,

I hope you're doing well with February 2021 now behind us.

At the beginning of the month, I was lucky enough to become a dad for the second time! So, suffice to say it was not 'business as usual' for me this month... My hands were full but the rocking chair was a pretty cozy place to keep reading articles...

There's no particular theme this month. Just 5 pieces of content that really spoke to me and which have actionable information or advice.

As always, don’t hesitate to reach out if there's anything I can do for you or just to say hello! Enjoy this month's newsletter. 

Joël

P.S. Shoutout to Matthias Gutzmann and the team over at Digital Procurement World. They just launched their new website dpw.ai. Check it out for lots of great unique content about Procurement digitalization. I love the way they think about innovation in Procurement.

Top 5 Source-to-Pay Articles - February 2021

#1 - Gathering Market Intelligence with A Single Click (Podcast)

I recently sat down with Embry Davis from ProcurementIQ to discuss how organizations can optimize the 'oh so time consuming' process of gathering market and supplier data when tendering a given commodity/category.It's not so bad when you've dealt with the commodity/category in question before but can be a real time sink when you haven't. It's hard to proactively manage the sourcing process and your stakeholders for the best outcomes in this context.Embry and I discuss how technology can help.

Gathering Market Intelligence with A Single Click (41 mins)
by Joël Collin-Demers at Pure Procurement

#2 - Deloitte's 2020 CPO Flash Survey

Every year since 2011, Deloitte releases an annual global Chief Procurement Officer survey, highlighting key trends in the procurement industry. With no surprise, COVID-19 pandemic was the dominant issue on CPOs minds this year. However, this report gives great insight into how CPOs plan to respond to related issues in 2021. Does your organization have a blind spot? This is a great way to find out.

2020 CPO Flash Survey Reveals Shifting Procurement Strategy Amid Pandemic
by Ryan Flynn, Jennifer Brown & Aaron Addicoat at Deloitte

Bonus: I also stumbled upon this neat "10-year lookback" document detailing the big themes of the past 10 years of CPO surveys (4-slide presentation)

#3 - Challenging the Standard Consulting Model for S2P Implementations

Implementing a Source-to-Pay (S2P) system is very different than implementing an ERP system. So why are organizations still approaching both the same way? Fluxym makes a compelling case for why you should ensure your partners approach your S2P implementation with a Procurement-centric approach (vs. system/IT-centric). If not, you may be in for some surprises...

#4 - New Incoterms® 2020

I'm about a year late on this... But, I figured that it might be the case for others as well since Incoterms have not been updated since 2010. It's not a "hot" space that we tend to track... There's very little movement.However, the International Chamber of Commerce (ICC) have published the new Incoterms® 2020 that have come into effect from the 1st of January 2020. There aren't a ton of changes but there are a few important ones to know about if you use the DAT, CIF, CIP, FCA or FOB Incoterms in your purchasing processes.This article also has a great downloadable Incoterm cheat sheet if you just want to grab that and run...

#5 - Removing Category Management Pain Points

Barring unique contexts, Category Management is the gold standard approach for sourcing in large organizations today (Notably, IKEA has a fantastic Category Management program).However, that doesn't it mean it is free of complexity and challenges. Certain categories are easier to define/analyze/optimize than others. Even if you are running a good Category Management program, you need to be able to show its ROI. So, how can existing technology help us in these endeavors?

Part 2: Making Category Management Possible with Enabling Technology
by Jaggaer & Kelly Barner on the Jaggaer blog

Note: This is a Jaggaer branded article but the points made are valid agnostically.

You wrote or read a great article? Send it my way, I'd love to read it.

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