sourcing in the age of distraction -...
TRANSCRIPT
SOURCING INTHE AGE OF
DISTRACTION
SIREN CALLS OF DISTRACTIONThe digital age has ushered in multitudes of information channels and
means of consuming information, resulting in what is known as the ‘Age of Distraction’.
Information overload is caused by:
Plethora of internet enabled devices
Multitude of information sources
Digitalization
of time is wastage due to culture of excessive emails and meetings(Source- Survey of British workers)
MORE THAN 60%
The new challenge facing Procurement Organizations is to select the right supplier, execute the right contract, pay the right price and optimally manage the cost base, while
simultaneously managing distraction.
WHY IS IT IMPORTANT FOR PROCUREMENTTO MANAGE “DISTRACTION”
For certain offerings—such as e-procurement, spend analytics, etc.—Procurement Organizations are the direct customer
However, for a large number of categories, sourcing teams are emerging as an important internal influencer
As their profile rises, procurement managers will find it difficult to manage the surge of incoming marketing and sales
reach-outs through various
Growing Sphere of Influence:A survey with more than 300 sales and
marketing leaders across the globe shows procurement’s growing influence in
purchase decisions
90% of marketers/sales professionals recognize the growing importance of procurement in purchase decisions
(Source: Beroe Survey)
Increasing Spend under Management:Positive trends reinforces that companies
are recognizing the value that procurement can provide to their
internal business partners
More than 60% of total spend is now managed by procurement(Source: Capgemini Research)
ABOUT BEROEBeroe is unique in its exclusive focus on procurement. We enable procurement decision making in Fortune 500/G2000 companies by providing access to category specific market intelligence, risk management and green procurement services across the globe.
USA | UK | CHINA | INDIA | ARGENTINA | AFRICAVisit: www.beroeinc.com | E-mail: [email protected]
PERILS OF GETTING CAUGHT IN AN INFORMATION WHIRLPOOL
WHAT SHOULD PROCUREMENT DO?
While it is essential for procurement teams to use real-time flow of insights for decision-making, they may often encounter multiple challenges:
Identifying how, where and when to source high-quality data
Using available data to predict and understand the effects of global trends and political turmoil
Developing in-house procurement knowledge
Choose the right market intelligence ecosystem to filter signal from noise.
Constituents of Market Intelligence ecosystem
Market Information
Peer validation Thought Leadership
Supplier Information Supply Chain Risk