Purchasing

When the economic outlook is good, most executives focus on growing sales. It’s only natural. But when the economy slows and times get tough, the focus inevitably shifts. Most executives turn inward to reassess business operations, as they face hard choices on how to manage the company. As businesses struggle to survive a downturn, leaders generally behave in one of three ways: 

• "the ostrich" - preserve the status quo, and just hope for the best
• "the bull in the china shop" - blindly cut expenses across the board
• "the fox" - use the downturn to make your business more effective so when growth returns you'll be in a stronger competitive position 

We encourage leaders to behave "like a fox" Instead of viewing a recession through fearful eyes, use it as a means to pounce on emerging trends - and to get lean, mean, and in position to crush your competition as economic conditions improve. 

Read this white paper to discover ten strategies smart companies deploy to recession-proof their business.

The benefits of e-procurement software have been well documented. In the 20 years since these solutions first appeared on the market, studies have repeatedly shown that e-procurement systems not only yield a high return on investment, they also reinforce good corporate governance. 

A new generation of solutions has led to a surge in demand for e-procurement software, particularly among small and medium-sized companies that were previously priced out of the market. These solutions, built using Web 2.0 technologies, have eliminated much of the complexity of traditional e-procurement solutions. They are much easier to use and require less training. Some of these new solutions are offered on demand, which has enabled companies to deploy their purchasing systems in a fraction of time, and maintain them at a fraction of the cost of traditional solutions. 

Unfortunately, while e-procurement technologies have improved dramatically in recent years, companies implementation practices have not. According to a 2005 KPMG study, 49% of participants experienced at least one project failure within the most recent 12 months and a recent Gartner Group study suggests that three-quarters of new IT projects will fail due to fundamental flaws in project planning. 

In this whitepaper, we identify the top ten most common mistakes companies make over and over again in selecting and implementing e-procurement software and provide you with best practices on how not to make these same mistakes.

As a procurement professional, you know that centralizing a procurement strategy can be tricky. However, you also know the rewards are well worth the effort. These rewards can be particularly significant when it comes to the energy spend. But, along that road, hurdles abound, and learning how other industry leaders have effectively overcome these challenges is a key step toward centralization. Examine proven methods employed by organizations that have successfully cleared the hurdles to energy management centralization.

The 10+2 rule will stop containers from departing unless CBP gets electronic data about the shipment contents. This is not just a compliance department issue -- supplier and manufacturing data are key provisions, so procurement and sourcing teams must be involved. This perspective paper provides details and how importers need to prepare.

Do you have an accurate view into all of your company spending? If you can't see everything -- what's requested, approved and paid -- you can't effectively manage your company's spending in real time. Download Ventana Research's new report to learn why automating company spending should be a top priority for small and midsized companies.

Procurement transformation is not just about identifying savings opportunities and contracting better prices and terms with suppliers. It is more about enabling internal customers to continue to do their business in a more efficient way - by finding the best products and services they need, at the most competitive prices, and delivering it on time.