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- Monthly Top 5 - February 2024
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🎣 The Catch Up
Hi Readers,
Before we get into the top 5 procurement articles published in February 2024, I wanted to remind you that I am hosting the first Pure Procurement Fireside Chat on Autonomous with Erin Mcfarlane of Fairmarkit next Friday, March 15th at 10am Eastern Time for free!
Let me know in the poll below if this is of interest to you.
(if you’ve already voted in a previous poll, no need to vote again. You’ll hear from me soon 😉)
Do you want to attend the first Pure Procurement Fireside Chat with Fairmarkit's Erin Mcfarlane on Autonomous Sourcing?First come, first served. However, premium subscribers will get priority. |
Otherwise, enjoy this month’s Top 5!
Best,
Joël
Top 5 Source-to-Pay Articles
February 2024
#1 - Is It Safe to Go Back to ‘Just-In-Time’?
In this great article, Kelly goes down memory lane to remind us of the history behind “Just-in-Time” inventory management strategies. She then poses a critical eye on recent trends indicating that large retailers are heading back in that direction.
A great article if you’re mauling over how to adapt your inventory management strategies post-COVID.
Time to Return to Just-in-Time?
by Kelly Barner at Art of Procurement
#2 - Is India Turning into the New China?
In 2023, India boasted an 8% GDP growth rate, putting it in the top spot when looking at sizeable global economies. India continues to silently and unapologetically progress on the path to becoming a global economic powerhouse (Japan and Germany are in its sights!).
This is starting to show in manufacturing choices as well. As this article highlights:
“U.S. C-Suite executives are over three times more likely to choose India over China for their future supply chain needs”
After Japan and Germany, only China and the U.S. remain 😅
The India Advantage: 6 Reasons Why Supply Chains Are Leaving China
by Amy Wunderlin at Supply Chain Management Review
#3 - Is Supplier Relationship Management Enough?
Great primer article on Supplier Performance Management (SPM) as a subset of Supplier Relationship Management (SRM), or “holistic SRM”, by Ivalua this month.
This article will have you rethinking whether your SRM program is complete enough to durably maximize the value with your key suppliers over the length of your relationships or, if not, where you currently have value leakage.
#4 - New Spend Matters Solution Map Release
If you’re in a large enterprise and wanting to get a good overview of the ProcureTech market as it stands today, this press release of Spend Matter’s 2024 SolutionMap update will give you that picture.
You can see 79 top software vendors in the space mapped to their solution categories in a simple, easy to understand table. Great place to start.
Spend Matters releases the Spring 2024 SolutionMap
by SpendMatters
#5 - Pointers for Your Business Case
You can find the best solution in the world for your procurement team but if you’re not able to communicate the business case correctly to ‘purse holders’ outside procurement, you’ll never get off the ground…
In this article, Focal Point provides a few great tips/reminders to consider when building (and most importantly — communicating) your business case for procurement transformation and digitalization/tooling.
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