Getting Your Procurement Organization Ready for Digital
LinkedIn
July 31, 2019
Digital is transforming procurement at an unprecedented pace. Robotics are taking over operational tasks, artificial intelligence is driving decisions, and big data is becoming the must-have backbone of every well-oiled purchasing function. CPOs need to ask themselves how to set up their organizations to best leverage these new solutions and tools and they need to think holistically. Every role will change, from strategic buyers to purchasing controllers. Some, like robotic maintenance engineers, will emerge and others, such as operational and transactional buyers, will largely disappear. Leading companies that actively transform their procurement organizations gain a substantial strategic advantage over their peers due to the much broader value they generate.
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Tags: Digital Transformation, Procurement
Game Theory Based Award In Real Life - Delivering up to 20% on Top
LinkedIn
May 02, 2019
Game theory based awards based pre-defined rules deliver savings up to 20% on top of typical negotiation results. Negotiation training curricula have not changed over the last 20 years. The Harvard concept with BATNA, MDO and LAA is still the gold standard for negotiations. Digitalization and new, innovative negotiation approaches e.g. collaborative optimization/expressive bidding, parametric pricing, game theory based awarding – appear on the horizon, but are not yet known widely and used extensively.
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Tags: Procurement
Pushing the Value Envelope in Procurement in a Project Business Company
LinkedIn
December 22, 2018
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Tags: Digital Transformation, Innovation, Procurement
Digital Answers for a New Procurement Task - Innovation
LinkedIn
November 13, 2018
The importance of innovation has gone up on the CPO agenda. Shorter development cycles, lower value generation, and growing dependency drive it. Not surprisingly, when BCG asked CPOs about their top objectives, innovation was ranked second, right after cost reductions. According to the ISM, companies that leverage the supplier’s innovative power outperform their peers in top- and bottom-line performance, achieving twice the EBIT, a 5–10% COGS reduction, and a 7–10% revenue boost driven by lower product cost, faster time to market, and higher prices.
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Tags: Procurement, Innovation
Game Theory – The New Art of Negotiations
LinkedIn
September 29, 2017
Game theory-based awards are often seen as a new procurement method that have the potential to squeeze the last penny from suppliers. But smartly applied, it is much more than that. It can be a game changer for the role of procurement in the organization, while delivering savings of up to 20% on top of typical negotiation results.
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Tags: Procurement
Collaborative Supplier Innovation - Securing growth with supplier
Linkedin
December 02, 2016
Innovation has been and will continue to be one of the key drivers for profitable growth. But having the right innovation strategy and resulting portfolio of ideas in place to create new products and services and thus generate new business is not enough. Innovation leaders team up with selected suppliers in order to leverage the innovation power of the supply base in a systematic way to ensure the successful realization of new products, processes, services or a fundamental improvement to a business model faster, more cost efficient or with a higher level of differentiation in the market. But leveraging supplier innovation is not easy and maybe company fail doing so.
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Tags: Innovation, Open Innovation, Procurement
Big Data in Procurement “So – what do we do now with all the data we have in procurement?”
LinkedIn
November 11, 2016
Everybody is proud to have so much data as never before. Tons of information is available within the company and accessible outside the company. More or less, we have raw data for everything. Companies as BBC, Market Source, Bloomberg, Reuters provide them. The dream of having all data is coming true, we are very close to it. But what do companies now do with the data?
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Tags: Analytics, Big Data, Procurement
How to make the Procurement organization ready for the digital age?
Boston Consulting Group
October 07, 2019
The topic of this years Boston Consulting Group (BCG)
#PRT2019 in Middle East was winning the 20s with procurement. I am very impressed to see how procurement has advanced in the Middle East. We heared great presentations about the digital transformation journeys of STC by Hani AlSaigh and Alghanim Industries by Rohit Gandotra. Christian Schuh spoke about creating value with suppliers. Alexander Warmulla from scoutbee and Hari Nair from GEP presented their solutions. Thanks to Arun Bruce and his team for this great procurement Event.
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Tags: Blockchain, Digital Transformation, Procurement
Sustainability in Procurement
Dominik Steffani
February 17, 2022
What a great Kick Off of the Rising Procurement Stars a joint initiative by WHU – Otto Beisheim School of Management & Boston Consulting Group (BCG). Today's topic "#Sustainability in #Procurement" addressed the following themes
- Even competitors join forces to address #CO2 emissions
- Companies struggle to optimize Scope 3 emission due to missing transparency
- For discrete manufacturing industries Scope 3 make up more than 77% of their total emissions
- CEOs should implement initiatives for supply chains: create transparency, optimize products for CO2, engage suppliers and push ecosystems
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Tags: Procurement, Supply Chain, Sustainability
How to make Procurement organization ready for the digital age?
Boston Consulting Group
December 05, 2019
Great discussion with procurement executive at @Boston Consulting Group (BCG)'s
Hashtag
#PRT2019 in
Hashtag
#Zurich about answers to the following questions:
- How to make Procurement organization ready for the digital age?
Please read more: https://lnkd.in/d_97u-q
- How to apply a 360-program on the A-suppliers to get up front commitment to double savings?
- How to use BCG’s AI Negotiation Coach to optimize cost with medium suppliers?
- How to apply AI on the large portion of small suppliers that do not contribute to cost savings?
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Tags: Blockchain, Digital Transformation, Procurement
How to make the Procurement organization ready for the digital age?
Boston Consulting Group
October 07, 2019
The topic of this years Boston Consulting Group (BCG)
#PRT2019 in Middle East was winning the 20s with procurement. I am very impressed to see how procurement has advanced in the Middle East. We heared great presentations about the digital transformation journeys of STC by Hani AlSaigh and Alghanim Industries by Rohit Gandotra. Christian Schuh spoke about creating value with suppliers. Alexander Warmulla from scoutbee and Hari Nair from GEP presented their solutions. Thanks to Arun Bruce and his team for this great procurement Event.
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Tags: Blockchain, Digital Transformation, Procurement
Product Innovation Day
Synertrade
September 21, 2018
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Tags: Digital Transformation, Procurement, Innovation
Digital Procurement Summit - Digital Procurement
Synertrade
June 21, 2018
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Tags: Digital Transformation, Procurement
Achieve Net Zero with automated carbon management
WHU & BCG
October 21, 2022
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Tags: Sustainability, Procurement, Climate Change
Pareto approach
WHU
June 26, 2020
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Tags: Digital Transformation, Procurement, Supply Chain
Successful Procurement Negotiations now and for the future
WHU Otto Beisheim University
May 08, 2020
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Tags: Innovation, Procurement, Supply Chain
Digital Procurement
Universitaet Würzburg
June 25, 2018
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Tags: Digital Transformation, Procurement, Supply Chain
Digital Procurement
Universitaet Nürnberg
May 15, 2018
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Tags: AI, Digital Transformation, Procurement
Advanced Supply Chain
WHU
April 18, 2018
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Tags: Digital Transformation, Supply Chain, Procurement
Rebuilding Trust After the Crisis
Whu
July 21, 2020
Negotiating intelligently and considering the needs of the partner can build a new basis of trust to the benefit of both sides, even beyond the #COVID19 crisis. Here's how by BCG's Dominik A. Steffani, and WHU – Otto Beisheim School of Management Professors Lutz Kaufmann and Felix Reimann.
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Tags: COVID19, Procurement
BCG‘s PEM points out untapped potentials for banks
Bcg
July 21, 2020
Cost pressure on banks has increased lately, intensified most recently by the ongoing economic impact of the COVID-19 situation.
As banks need to unlock additional savings potential, BCG's Banking Procurement Excellence Monitor points towards opportunities in third-party spend optimization. Banks can draw on important lessons learned from other industries and realize significant benefits.
Read on to learn more and discover our three recommendations for how to achieve procurement excellence.
Written jointly with my colleagues Lukas Haider and Dominik A. Steffani. Thanks to them both for the excellent collaboration to bring these insights to light.
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Tags: Procurement, COVID19
Pushing the Value Envelope in Procurement
BCG
February 06, 2018
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Tags: Digital Transformation, Procurement
Collaborative Supplier Innovation
A.T. Kearney
August 01, 2016
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Tags: Innovation, Open Innovation, Procurement
Lecturer
Getting the procurement organisation ready for digital
Delivering on Digital Procurement’s Promise incl. How to manage procurement during Covid19
