As per a recent post over on Spend Matters UK, today is the last day that a set of recent Spend Matters white-papers, made available by sponsors, that is currently free to practitioners goes back behind the pay-wall and this set in particular contains three pieces authored or co-authored by Pierre Mitchell and two authored or co-authored by Thomas Kase. Pierre, most recently of Hackett Group fame, is well know for his thought leadership around Supply Management best practices and Thomas, who has worked for a number of providers, is known for his deep expertise in SPM/SRM solutions. When you can get your hands on their work for free, it’s not something you should pass up.
The papers in particular that are about to become “pro” access only are:
- How to Justify Spend Analysis to Finance/IT When There’s No Clear ROI
by Pierre Mitchell
- Write Better RFPs — How to Get What You Want (and Need) From Suppliers
by Thomas Kase
- Metadata Explained: What it Means for Spend Analytics, Supply Risk, Supplier Performance, and More
by Thomas Kase, Pierre Mitchell, and Jason Busch
- Procurement Analytics: How to Plan (and Optimize) Your Process
by Pierre Mitchell
Regular readers of SI know the utter importance of Spend Analysis, a subject which has garnered hundreds of posts on SI over the years. As one of the only two technologies that have been repeatedly to provide an organization year-over-year double digit ROI returns when properly used, your organization cannot afford to be without it! As such, the last thing you want is to be roadblocked by finance when there is no readily apparent savings opportunity (as you need the solution to clean your data to find the savings opportunity). In his piece, Pierre gives us you ten hints to getting your project approved, which can happen quickly if the project is presented appropriately. Always remember, the faster you get the system, the faster you can centralize and cleanse your data and find opportunities, and the faster you can start saving.
Just this week SI was continuing it’s RFX rants, which started back in 2007, about how the vast majority of provider RFPs suck and how you won’t get good results unless you write your own (using the provider RFP as a checklist of some key elements that need to be included, but in a way that makes sense to your organization). In Thomas’ paper he discusses some key elements of the RFP creation process that can make the difference between success and failure in your efforts.
Everyone talks about Meta Data, but not a lot of people really understand what they are talking about. In the collaborative piece between Thomas, Pierre, and Jason, the authors provide a discussion of meta data and how meta data aggregation can paint a picture not readily available from the elements. They then go on to demonstrate how the proper analysis of meta data can yield risk analysis and opportunity assessments that cannot other wise be performed and that can be very beneficial to the business day one. It’s another example of why your organization needs good data and tools to process and mine that data if it wants a true twenty-first century supply chain.
In the last piece on Procurement Analytics by Pierre, he notes that for an analytics project to be successful, you need the right scope. The scope is all of supply management, not just the tactical procurement function. All data collected from the first RFX during the sourcing process through the last on-contract procurement to the final warranty return needs to be collected and stored in one central or federated database so that an analysis can look at all relevant data, not just purchase data. It’s not just how much you paid, but how much you were supposed to pay, what you paid for, and if a different categorization would be more beneficial to your organization. And until you make an effort to centralize, or at least centralize on a common schema even if the data is scattered, you won’t even know what transformations and cleansings need to be done.
If you haven’t downloaded these yet, don’t miss your very last opportunity to do so. These are some great pieces with content that you should know, so read up!