Monthly Top 5 - February 2023

Author

Joël Collin-Demers
February 28, 2023 • 📖 5 minutes

Hi there,

I'm excited to write you this month because I've just finished and published my first eCourse:

Implementing Procurement Systems That Work (S2P 101) :A Roadmap for Procurement Professionals

Honestly, I didn't want to build it... But, every time I started a new Procurement Digital Transformation mandate, the same questions popped up from CPO, Procurement directors, Procurement analysts, IT project managers and IT functional analysts around how to best select systems and deploy them.

I kept looking for an existing course to refer to clients but after a decade of looking without finding, I have had enough! So, I built it myself based on 18+ system implementations across 8 industries.In this 3-hour self-paced course, you will learn:

  • How to logically divide the end-to-end Procurement process when thinking about implementing systems

  • The 3 different types of Procurement systems, their strengths and weaknesses, and when you should use them

  • How to approach Procurement system selection and implementation to ensure you get a system that works for you, and not the other way around (sequencing, dependencies, etc.)

As a newsletter subscriber, you can use code PPMONTHLY5 at checkout during the next month to get 25% off the course price.

You can sign up for the course HERE if this of interest to you. Don't hesitate to get in touch if you have any questions.Otherwise, please enjoy the regular newsletter content below. I found some great articles this month!

Best,

Joël

Top 5 Source-to-Pay Articles - February 2023

#1 - More on Chat GPT for Procurement

Last month I shared a ChatGPT article and a few of you came back to me asking "What the heck is ChatGPT and why is it important for Procurement?"Well, I'm glad you asked! I was able to find this great article on how you could use Chat GPT for Supply Chain. Kevin does a great job at explaining the tool and it's limitations. Key takeaway: Critical thinking is still at a premium but ChatGPT will give you some great ideas!Here's an example of a question you could ask Chat GPT where you would get a decent answer: What are the main risks to consider when doing business with X company?Chat GPT will give you a 20-30 word answer that will give you some great leads to explore.

#2 - NASA's New Procurement Continuous Improvement Tool

The US National Aeronautics and Space Administration (NASA) released a new tool to help fuel continuous improvement in their Procurement function. In typical NASA fashion, it has a weird name in order to have a cool acronym... It's called the NASA Acquisition Innovation Launchpad (NAIL). Not sure I love it...Nevertheless, it's a great example to look at if you're wondering how you could go about gathering feedback from your employees/suppliers to help improve your Procurement processes.

#3 - OK. We Put a Shared Services in Place. What's Next?

Some interesting concepts to think about in this paper by EY on leveling up your Procurement organization after having implemented and optimized a Procurement shared services model.

#4 - Procurement's Role in Decarbonization

This article wasn't published this month but it's the first time I stumble upon this graphic and it's too good not to share.As our businesses consider our decarbonization plans, Procurement will have to play a key role to reduce certain types of emissions from the supply chain. As tools come out to help you measure your progress, it's important to understand how most tools categorize emissions: Scope 1, 2 & 3. The infographic with this article does a great job of visually explaining this concept so you can grasp it quickly.

#5 - Summary of the Digital Procurement World CPO Round Table

Digitalization of the Procurement function is a long, complex road that requires vision, faith and bringing everyone on the journey with you but one which yields significant benefits.I basically say this every month... But don't take it from me... Check out the summary from a recent DPW round table on the subject with some notable CPOs.

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

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