Monthly Top 5 - March 2023

Hi there,

I hope you are well.

Lots of articles addressing ESG and sustainability in Procurement in the ecosystem this month so, inevitably, some made it onto my list. It's something I've been trying to consciously learn more about and integrate into my practice this year. Perhaps that's why I've noticed them more? It's like when you buy a new car and see it everywhere I suppose...

Jon Hansen also got me to read an article from 2007 this month so... #Throwback. I really enjoyed it so it made the list. Details below.

I'm also back with a long overdue episode of the Pure Procurement podcast. I had a great, long overdue, conversation with Adar Hay - the manufactured parts magician. See #1.

Hope you enjoy the reading/listening.As always, be well.

Best, 

Joël

Top 5 Source-to-Pay Articles - March 2023

#1 - Optimally Sourcing Manufactured Parts

Do you source and purchase custom manufactured parts? This category often provides sourcing headaches because of the need for iterative collaboration on design with multiple stakeholders within your company and the vendor's company.

I recently sat down with Adar Hay for a long overdue podcast to discuss how Procurement teams can master the complexities of this category. Check it out!

Making Manufactured Parts Sourcing Easy with Aday Hay (Podcast)by Joël Collin-Demers at Pure Procurement

#2 - The ABCs of Sustainable Procurement

Sustainable Procurement is a topic of interest but you don't know exactly where to start? The team at Vizibl has put together a great whitepaper to sink your teeth into. It provides a great overview of the different facets of sustainable procurement and a ton of references and source material to help you craft your strategy.

Sustainable Procurement: 2030 Guide by Vizibl

#3 - The Difference Between ESG & Sustainability

The terms Environmental, Social & Governance (ESG) and sustainability are getting tossed around quite a bit these days, especially as it relates to Procurement. When reading articles, it almost seems as if these terms are synonyms... However, nothing could be further from the truth... Here's a quote from subsequent reading on HBR to pique your curiosity on the topic..."ESG investing isn't designed to save the planet" - HBR (August 2022)

Peter published this article in February but I didn't cross it until March so I'm including it in this month's list. It was one of the most useful articles I read this month.

ESG, Sustainability, Purpose - What is the Difference? by Peter Smith at Procurement with Purpose

#4 - A Second Look at Outsourcing in Procurement

Outsourcing has typically been a cost saving measure in Procurement but in Kearney's latest article on the topic, they propose a framework to look at outsourcing "beyond cost savings" and rather as a source of value creation."[Companies are] shifting away from traditional standardised outsourcing relationships and designing customised models that outsource selected ‘value delivery’ activities while retaining others."Something to ponder if you're already high maturity and are looking for value levers to action.

What to Outsource, What to Keep: A Hybrid Model for Procurement by Kearney

#5 - A Procurement Digital Transformation Success Story from… 2001!

At the beginning of the month, Jon Hansen sent me down a rabbit hole by linking me to articles outlining a successful public sector digital transformation program delivered in 2001. After an innocent exchange on LinkedIn on the critical success factors for digital transformation, I found myself digging through the Commonwealth of Viginia's eProcurement marketplace a few hours later...The good parts is that the critical success factors haven't really changed all that much since 2001. The bad part is that they are still not well known and/or integrated into Procurement digital transformation projects.If you are so inclined, join Jon and I in the rabbit hole that is the eVA initiative.

Yes Virginia! There is More to e-Procurement than Software! (Part 1) by Jon Hansen at Procurement Insights

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