Insights by Nitor

The world is literally and figuratively breathing easier today now that the global pandemic is finally on the wane. But, at the same time, increased product and services costs, geopolitical instability, combined with delivery delays and inflation, have created the perfect storm for every company worldwide, both large and small. Most companies are again turning to their Procurement and Supply Chain (PSCM) organizations to come to the rescue. However, in the last three years since the start of the pandemic, most of these organizations have experienced staff shortages, and have found their systems are unable to optimize the gigabytes of data from each incident.

Nitor CONNECT integrates SAP Ariba® and Microsoft Teams to create a hub for team collaboration, communication and document storage. Nitor CONNECT streamlines chats, training materials and files to create efficiency and support compliance in the source-to-settle process.

Just like people, Procurement organizations are at different points on their continuous improvement journey. People rely on friends, classes, self-help books, mentors, and family to help them identify opportunities for growth and improvement. Where would a Procurement organization go to help them identify opportunities and actions required to continue on their journey? 

Some companies use industry benchmarks and roundtables, or work with peers at other companies to see how they compare. But what does that really provide? A couple of data points that tell them they could be better. That probably isn’t breaking news if the questions are already being asked and it certainly doesn’t provide an actionable roadmap to sustainability.

Pack your bags! We’re traveling abroad! A global change initiative is a monumental and transformative undertaking for organizations with cross border trajectories. There may be layovers, several modes of transportation, or even a change in carrier before we arrive at our final destination. Upon arrival, we need to determine where to spend our time to get the best return on investment, which souvenirs to pick up, and which to leave behind to successfully clear customs.

In Western astrology, it is believed the universe is formed by four Elements: earth, air, fire and water. 

 Each of the four contains its own unique and beneficial properties within itself and when they work together they create one perfectly formed universe.

The same is true with the Source-to-Pay environment.  Each Element is individually important and valuable to create and /or deliver value. However, when all the Elements across the Source-to-Pay spectrum work together, a holistic and integrated best-in-class Procurement organization is enabled.