Category Archives: Miscellaneous

Infographics 101

There are a lot of different ideas out there on what makes a good infographic. However, regardless of what philosophy you ascribe too, there are a few key points that should always be kept in mind if the goal of the infographic is to sell something.

1) Focus on the core points you want to make

The goal of an inforgraphic is to distill a significant amount of information into a simple visual that allows the viewer to quickly understand your intent and the key takeaway of your message without having to do a lot of reading.

2) Include distinctive information

If the goal of the infographic is to convince the reader that the idea or solution being sold is better than the alternative, then make sure the infographic calls out whatever is distinctive about your idea or solution. Otherwise, why should a viewer give it a second chance?

3) Make it clear to a reader of average education

If one looks at the 2009 Census Data, 85% of adults in the United States have at least a high school diploma or GED and 28% have at least a bachelor’s degree, 32% have an associates degree and approximately 60% have 1 or more years of college education without a degree. This says that if the goal is the population at large, you at least want it understandable by someone with only some college, and if the target audience is a professional in the workplace, you may not be safe in assuming your audience will have at least an associate’s degree, depending on the type of professional you are seeking. (If you are targeting doctors, lawyers, engineers, scientists, etc., then you can probably safely assume at least an associate’s degree, but if you are targeting sales, marketing, procurement or operations personnel, where a decade in the trenches is often more valuable than a degree at many companies, you may not be able to make such an assumption.)

In addition to these key points, Sourcing Innovation would also argue that, if you are trying to sell something, then an organization should be careful that they

4) Do Not Oversell the Idea or the Solution

Case in point, here in the great white north, Nova Scotia Business Inc. just released an infographic trying to promote our 360-degree defence and military expertise and our unique ability to support research and development for land, air, and sea projects — being home to 40% of all Canada’s military assets, 65 boat building yards and 26 regional ports (including the Port of Halifax which is situated in the second largest natural harbour in the world and capable of expanding to handle more capacity than any East Coast port if the demand is there), and over 80 defence and aerospace firms including 6 of the top industry leaders.

All of this is true, and Halifax offers, in not just Sourcing Innovation’s view*, an average company the greatest logistics potential of any city in North America right now (especially with CN putting in direct lines to a number of North East and Central US distribution hubs with transit times of only 2 to 3 days) as well as the greatest potential for building new commercial and defence products that capitalize on our world leading expertise in sonar, hydrodynamics, and navigation technology. However, instead of focussing on the huge, untapped potential sitting in the Halifax Regional Municipality (HRM) right now, Nova Scotia Business Inc. in their latest infographic decided to focus front-and-center on the fact that our defence sector generates $1.5 Billion a Year in revenue. So what? The GDP of Canada is about 1.8 Trillion. This means our defence sector contributes less than a paltry 0.1% to the economy from a GDP perspective while the GTA (Greater Toronto Area) area across all sectors contributes about 20% of Canada’s GDP which means that, using industry averages**, it’s defence sector contributes at least 1.2% of Canada’s GDP. In other words, not only would the GTA defence sector contribution break into the full percentile range, but it would be more than ten times Halifax’s contribution. In this light, the HRM looks pretty shoddy, even though it likely represents the greatest potential in all of North America for may of your Supply Chain projects. There’s a reason that Horses for Sources just called Nova Scotia the greatest nearshore location of all.

* More in our next post!

** Overall defence sector in Canada accounts for about 6% of GDP as per a recent AIAC study.

All Hail the CPO. Wait, what?

You want to be a CPO. But do you know what are the requirements for the job? Especially when the number of companies with CPO positions is still few and far between? (Recent stats from a CapGemini study found that only 9% of Procurement organizations have a CPO that sits at the C-Suite table. In SI’s view, unless the head of Procurement sits at the C-Suite table, it’s not a real CPO position.)

Chances are you don’t, especially since a search for CPO job descriptions yields few and not all are consistent (since each organization has their own view on what a CPO is and what the CPO needs to do during the first year or so). But more importantly, chances are you don’t know what is required to fulfill both the written, and more importantly, the unwritten requirements of the job.

But you don’t need to be in the dark. the doctor and the maverick, in their latest collaboration, have assembled a typical CPO job description and a multi-part series explaining the written and unwritten requirements, in detail, so that you, an aspiring Procurement professional, know exactly what is required to be a CPO. The first four parts of this series are now online on the new Spend Matters CPO site (in addition to the first parts of the Agenda series and the Lean / Six Sigma series). Check them out! They will be worth your time. (Part I: The Job Description and Part II: Examining the Job Description, Part I, Examining the Job Description, Part II, and Examining the Job Description, Part III.)

What are a CEOs Top Concerns?

Over on e-Sourcing Forum, Blaine Mathieu, CEO of Selectica, penned a post on the CEO’s Top Three Concerns and How CLM Can Help. CLM (contract Lifecycle Management) and SLM (Sourcing Lifecycle Management) can definitely help with these concerns, but are these really the top three concerns of the CEO, or are they the concerns that should be the top three?

The reality is that the top three concerns of any CEO are:

  • Profit
    We all know that at the end of the day all the Board really cares about is lining the pockets of the shareholders that they answer to. That’s it.
  • Economic Collapse
    Profit requires revenue and revenue requires a reasonably strong economy where consumers are willing to spend.
  • Supply Chain Disruption
    While the reality is that the average CEO doesn’t give a rodent’s behind about the supply chain, because that’s the head of Procurement’s problem, the last thing an average CEO wants to hear about is a disruption that is going to result in a stock-out and lost revenue. The Board won’t be happy, and the CEO’s job could be on the line.

Even though the top-three concerns should be:

  • Value Generation
    Continued profit relies on continued revenue which relies on continued customer demand which requires that customers continue to see value in the products and services the companies offer.
  • Global Expansion
    Individual economies wax and wane, and sometimes connected economies surge and fall with them, but, generally speaking, the economies of entire zones or continents don’t collapse at once.
  • Supply Assurance
    No supply, no product. No product, no fulfillment. No fulfillment, no revenue, even if the organization could provide value to the customer.

As part of these concerns, the CEO should be helping the CPO with:

  • Cost Avoidance
    Forget savings. They are ephemeral and temporary. But reducing demand and avoiding unnecessary cost is permanent.
  • Innovation
    Value requires continued delivery of better products and services, which will often only be identified through innovation.
  • Compliance
    A big part of supply assurance is making sure all local and foreign laws, import and export requirements, and industry regulations are met so that the company isn’t faced with unnecessary disruptions, lawsuits, or government interventions.

which, while not the CEO’s top three concerns, are the top three concerns the CEO should share with the CPO.

75 Million . . . for a Wallet!

In our recent damnation post on e-Currency, we noted that if you think trying to manage real currency exchange is bad, just wait until you have to start using non-country based e-Currency, like Bitcoin — which is going to happen sooner than you think if CoinBase, which just raised 75 Million to create a better Bitcoin Wallet, has its way.

What do you think LOLCat?


Please, take my dollars.
 

Is that a compelling endorsement, LOLCat — or are you just trying to hide the fact that you are a cat?