Art of Procurement1 Marras 2016

102: How to Understand Cost & Enable Fact Based Supplier Relationships w/ Jimmy Anklesaria

Jimmy Anklesaria is one of the most prominent thought leaders in procurement today. Jimmy is considered by many as the go-to expert when it comes to the strategic management of cost. He literally wrote the book (well, two books), and regularly travels the globe helping organizations reduce their third party costs. Importantly, he does this not through the leveraging of power but by using data as the foundation of fact based sourcing and continuous improvement.

Jimmy had so much information to share that we recorded two separate shows! These cover the strategic management of cost from initial sourcing to end of contract.

Today, we focus on the initial sourcing and negotiation process. Jimmy shares a number of insights, including:

Why as a young company Director he did not understand the importance of procurement, and what his light bulb moment was.
The most important part of the negotiation process
Why business deals have to be win-win to be sustainable over the long term
What a procurement professional can do to better understand the cost of a product or service before they begin a negotiation
How you can use publicly available information to develop should-cost models based on understanding key cost drivers
Whether you need to pay for data or not.
Why, while you can acquire data from third parties or a central COE, a procurement professional must not abdicate responsibility for understanding the costs and cost drivers of a product or service.

This conversation was an eye-opener for me, particularly as we consider how to apply cost management techniques that are prevalent in the procurement of Direct materials to Indirect services.

For more information, visit http://artofprocurement.com/costmanagement

Tämä jakso on lisätty Podme-palveluun avoimen RSS-syötteen kautta eikä se ole Podmen omaa tuotantoa. Siksi jakso saattaa sisältää mainontaa.

Jaksot(926)

EP 015: Provider of the Week: Tradeverifyd

"It's more the translation of visibility. It's not so much visibility. Visibility is there, but it's what do you do with that?" - Mike Prorock, CEO, Tradeverifyd Supply chain risk has become both more...

2 Syys 30min

881: Owning Transformation: How to Successfully Lead Procurement Through Change W/ Gretchen Vance

"Don't ask AI to do something that you don't know how to do yourself." - Gretchen Vance, Vice President Procurement at Forest Lawn Parks and Mortuaries Procurement transformation often comes down to a...

31 Elo 35min

EP 014: Provider of the Week: Sievo W/ Sammeli Sammalkorpi

"The expectation level of procurement is rising. Today's stuff that was not possible a year ago, that felt like science fiction three years ago, is something that we can create for our customers today...

26 Elo 24min

880: The State of AI in Procurement: Who's Getting the ROI? W/ Nick Heinzmann

"There's an absolute risk of procurement's role and scope being diminished by AI, unless we embrace new ways of working." - Nick Heinzmann, Head of Research, Zip According to new research from Zip, on...

24 Elo 33min

879: The AI Pilot Phase is Over: How to Move From AI Investment to Genuine Business Impact W/ Joseph Postiglione, Sr.

"If you're not completely sure about what you want to try to achieve, how will you know you ever achieved it?" - Joseph Postiglione, Sr., Author, Protecting Expected Outcomes in the Age of AI AI inves...

17 Elo 28min

EP 13: Making Sense of the Procuretech Landscape: Practical Insights for CPOs W/ Samir Khushalani

"The biggest risk today is not making the wrong AI decision. It is making no decision at all while everyone else is learning." Samir Khushalani, Senior Advisor, Art of Procurement Procurement leaders ...

12 Elo 29min

878: Building Procurement as a Strategic Growth Engine W/ Travis Hodge

"Procurement's future is bright, when we continue to do it the right way for the right reasons." - Travis Hodge, Director of Enterprise Sourcing & Procurement at nVent Procurement is no longer just a ...

10 Elo 36min

877: Building Trust for Digital Supply Chain Success W/ Mohit Ahuja

"Visibility is not the end goal. The end goal is how does that visibility enable me to make a quick decision." - Mohit Ahuja, Strategy & Transformation Leader, Caterpillar Business leaders can no long...

3 Elo 28min