Source-to-Pay Insights from Nitor

Buckle Up! Survive The Twists & Turns of Change Management

Posted by Lynn Barras on Oct 19, 2017 12:00:19 PM

BUCKLE UP! Change rarely goes as planned, but with proper planning and strategies in place, it can be a far smoother ride.

How many times have we approached Change Management white knuckled with fear of the twists and turns that lie ahead? Think about the last time you were in a theme park - Did you ride the biggest roller coaster in the park? If you did, at what point did you wonder about the safety belt?  Change Management is much like that safety belt.

Read More

Topics: procurement consulting, change managment, procurement change management

Sustain - Don't Outsource

Posted by Lynn Barras on Sep 25, 2017 10:06:02 AM

Much like people, organizations can feel like a fish out of water. This typically happens when employees take on tasks they cannot complete successfully or efficiently. Such situations lead to the rise of Business Process Outsourcing (BPO).

BPO initially started in larger organizations where third-party contractors were hired to complete tasks or processes that were not part of the organization's core business. As business evolved, BPO developed into the outsourcing of large-scale operations and at times entire departments. This activity was typically a quick, reactive measure with a single focus of cost cutting.

Read More

Procurement Technology is for Every Organization (yes, even yours!)

Posted by Lynn Barras on Aug 3, 2017 9:54:53 AM

Procurement technology is now for everyone. This has not always been true. The perception has been that procurement technology solutions are too expensive, do too much or are not worth the incremental investment. This is now simply false.

Let’s dig into this:

1- The Tech Industry wants everyone to have access, including mid-market organizations

The evolution of technology in general and procurement technology is as follows:

Read More

Topics: Mid-market procurement, Mid-market source-to-pay

Reverse Auction: Friend or Foe?

Posted by Lynn Barras on Jul 6, 2017 10:19:31 AM

This article was first published by Outsource at http://outsourcemag.com on June 29, 2017.

Procurement organizations have been using reverse auctions in sourcing events for decades as a means to reduce spend, introduce new vendors into the supply base and remain competitive in the market. While reverse auctions have flourished since the mid 1990’s, they have also been heavily scrutinized. Trends like reverse auctions have forced suppliers to adapt to competitive business practices or become inconsequential. As procurement tools become more streamlined, practices like reverse auctions are more commonplace in sourcing events; however, they continue to harbor negative connotations. Amidst this controversy, buyers and suppliers continue to see benefits from reverse auctions, but the myths surrounding this mode of buying power prevail:

Read More

Topics: strategic sourcing, procurement consulting, reverse auctions

May The Force Be With You...force majeure in challenging global markets

Posted by Lynn Barras on May 31, 2017 10:19:49 AM

For Star Wars fans everywhere, although force majeure is French for a “superior or great force,” we are not referring to the famed energy field that gives the Jedi their power and binds the galaxy together. In the world of business and contracts, force majeure is actually defined as an extreme event beyond the control of an obligated party that prevents performance under a contract.

Read More

Topics: strategic sourcing

Blockchain Will Radically Disrupt Your Supply Chain: 4 Steps To Take Now

Posted by Lynn Barras on Apr 28, 2017 12:42:21 PM

This article was first published by ForbesBrandVoice at https://www.forbes.com/ on April 20, 2017.

Blockchain epitomizes network-centric business, and procurement departments must take the lead exploring its possibilities for supply chain disruption. “Blockchain will radically change how we drive transactions and what procurement does as a profession,” said Robert Kain, Principal Consultant at Nitor Partners. “Being able to create and connect the networks that allow things like digital and mobile payments, bitcoin, data analysis, financial platforms and crowdfunding will create a much faster and secure world where who you are and who you’re dealing with are completely visible.”

Read More

Topics: procure to pay, procurement consulting

On Your Mark, Get Set, Go! The Order Matters!

Posted by Lynn Barras on Mar 17, 2017 9:56:22 AM

Races have a starting line and a finish line. Whether running a sprint, in a Formula One race car, on a thoroughbred horse or in a homemade soap box derby car - the same fundamental premise applies: get off to a great start, run an effective race and get to the finish line in the quickest way possible. Races begin with the announcement “ON YOUR MARK; GET SET; GO!” or some variation of this timeless announcement. The key is that racers are provided direction as to when to find their mark (starting point) and get set (a time to prepare). These stages leading up to the “Go!” moment are crucial to an effective start.

Read More

Topics: strategic sourcing, procurement consulting, Supplier Management

Seasonal Staffing: Strategic Sourcing and Contingent Labor

Posted by Lynn Barras on Feb 13, 2017 2:00:14 PM

Many business cycles have a “season.” In retail, the holiday season is a make-or-break occasion. In the world of accounting, tax season provides the heaviest workflow. Some business seasons follow the school calendar (travel and school supplies) and others the seasons of the year (construction or HVAC repair/sales). The best part of seasonality in business is it is predictable.  

Read More

Topics: strategic sourcing

Are You Ready?

Posted by Lynn Barras on Jan 4, 2017 9:51:33 AM

The world of Procurement, including the different technologies, methodologies and strategies will continue to evolve and have a significant organizational impact in the coming year. Staying abreast of the latest trends and offerings will differentiate best in class organizations from those that fall behind.

Read More

Topics: procurement, procure to pay, procurement consulting

Oil & Gas: How 2016 Events will Impact Procurement in 2017

Posted by Lynn Barras on Dec 13, 2016 11:17:29 AM

Throughout 2016 there were many significant events that shaped the current state of the Oil & Gas industry.  As the price of oil continued to plunge, world events hinted at a very slow recovery in the sector. Projects were put on hold, headcounts slashed, but production seemed to continue unabated. Some of the events that have had or will have a major impact in this space are:

 - "Brexit" shook up the EU, continued financial chaos in Italy and Greece, and a general fear of the unknown led to declines in European markets. These events drained demand for oil, putting increased downward pressure on crude prices.

Read More

Topics: procurement, procure to pay, procurement consulting, oil & gas

Subscribe To Our Blog

Recent Posts