Articles

  • Client Satisfaction in Purchasing: A Must or Just “Nice to Have”?

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    In Sales and Marketing, companies use Customer Satisfaction Surveys to provide indicators of consumer purchase intentions and loyalty. According to Wikipedia, “Customer satisfaction data are among the most frequently collected indicators of market perceptions.” It emphasizes that “[a]lthough sales or market share can indicate how …

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  • Is SRM Worth the Investment?

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    I was recently interviewed by Dustin Mattison, Publisher at TheFutureofSupplyChains.com, where you can also hear the recording of the interview.   We talked about Supplier Relationship Management (SRM) and the preliminary results of a recent SRM benchmark study.  Below is a transcript of the interview. …

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  • Procurement Evolution: Purchasing, Strategic Sourcing and SRM

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    Over time, most companies have made changes in the procurement function. Each starts with just Purchasing, evolves to Strategic Sourcing, and eventually adds Supplier Relationship Management (SRM). Because professionals in the field may have slightly different understandings of these terms, let me clarify what is …

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  • Price Forecasting: Who Needs That?

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    Common wisdom says that any price forecast is already wrong the moment it is published. I can only smile and agree with this. If people were able to predict the price of anything, they would be billionaires and very well known by now. I’d like …

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  • Are You Engaging All Your Clients?

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    The market typically uses “client” or “customer” to designate recipients of goods or services in return for compensation. Today I’d like you to start to see your invisible clients, those recipients of Purchasing services inside your company. The Purchasing function provides services to internal businesses and functions …

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  • How to Inform Price Changes to Business

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    Do raw materials have a major impact on your company costs?  If so, any of your business colleagues worth their salt will want to know ASAP when their raw materials undergo a price increase. Of course, for raw materials with big spend dollars and high …

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  • Spend Management: A Necessary Evil?

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    Several articles and white papers have been written about spend management and spend analytics. Let’s use Wikipedia to define each one: Spend analysis is the process of collecting, cleansing, classifying and analyzing expenditure data. Spend management is the way in which companies control and optimize the money …

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  • Purchasing Strategic Planning: CPOs, Have You Done Your Homework?

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    Every single year all companies face the budget planning cycle. At company level, this is defined as the revenue target, the costs and expenses to run the company, and, the profitability for the following year. In a perfect world this process should be two-way street …

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  • Benchmark in Purchasing: Are You Worst-In-Class?

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    Wikipedia explains that the term benchmarking was first used by shoemakers to measure people’s feet. They would place someone’s foot on a “bench” and mark it out to make the pattern for the shoes. Today’s definition of benchmarking: “It is the process of comparing one’s business processes …

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  • Metrics for Purchasing: A Framework that Works

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    A 19th century quotation from Lord Kelvin, who was an Irish-born British engineer, is still valid today: “If you cannot measure it, you cannot improve it”. Metrics are developed in each field in order to help measure performace of a current situation. The metrics are the …

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