SIG Speaks Blog

What is Important For Me In a Supplier Relationship

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SIG University Certified Supplier Management Professional (CSMP) program graduate Andy Peksa shares what he finds as the most important aspects of a supplier relationship and how they may be able to help you in your role.

Andy Peksa, Senior Buyer-Procurement Ops, T. Rowe Price

A Focus on the Category Management Plan

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SIG University Certified Sourcing Professional (CSP) program graduate Devendra Pathak shares how the focus on Category Management can help your organization grow with his very own with a step by step model.


Category management is one of the areas in which I should focus on my organization. 

After the category management session, I understood the importance of category management. A category plan has two main aspects, category analysis, and category planning. However, before starting to work on any category plan, I would like to understand the category maturity. It will give me a real picture of the category and areas where we should be more focused. Once I study the category maturity in terms of spending and contracts, I will then work on the category plan.

Category analysis where I will study the following,

  • Global industry trends,
  • Spend analysis
  • Demand & supply dynamics
  • Porter’s five forces

Global Industry Trend- This is all about the latest trend in the category across all regions. What is the new commodity which has the highest demand globally and where we have less demand due to technological change or updates?

Spend Analysis- I can say that spend analysis is the heart of category management. It has a major role in developing a sourcing strategy. I will analyze category spending to understand the top 10 sub-categories then the top 10 suppliers and top 10 commodities where we have the highest spending in the category.

Devendra Pathak, Senior Procurement Analyst, CDK Global LLC

Opportunity Assessment and Sourcing Project Flow

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SIG University Certified Sourcing Professional (CSP) program graduate Shridhar Kundaram shares his perspective on a four-step sourcing process that can help take your sourcing team to the next level.


Sourcing is a process that involves finding, selecting, evaluating, and managing suppliers for day-to-day and long-term purposes for goods and services needed in the organization/company. Sourcing will succeed if it has executive leadership support, collaboration with stakeholders, robust control of spending and policies, automation, and an approach clearly defined for categories. Sourcing involves four significant steps AssessAnalyzeExecute and Evaluate.

 

Shridhar Kundaram, Senior Analyst, CDK Global India Pvt Ltd.

Expanding Your Own Third-Party Risk Team

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SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Kyle Smith discusses the benefits of a strong third-party risk management team and what it can do for your organization.

Kyle Smith, Sourcing Specialist, Florida Blue

Implementing Automation in Your Own Business

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SIG University Certified Intelligent Automation Professional (CIAP) program graduate Josh Millman discusses how automation processes have helped his organization and what they can do for yours.

Josh Millman, a Jr. Salesforce Administrator, Sourcing Industry Group

Crucial Aspects for Building your Third-Party Risk Team

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SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Jonathan Purdon discusses the vital aspects to add to your risk management framework and the best practices for creating a risk culture.

Jonathan Purdon, Sr. Business Analyst, ATB Financial

Sourcing Change Management

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SIG University Certified Sourcing Professional (CSP) program graduate Larry Trawick shares how excellent communication is vital in ensuring success and how important it is to incorporate effective change into your sourcing practices.

Larry Trawick, Senior Sourcing Analyst, Polaris Industries

This Month at SIG – January 2023

Here's your monthly update on the latest thought leadership, networking events and training with SIG.

Preparing for the challenges on the horizon with a host of resources to get a jump start on 2023!


A Flexible (and Fast!) Way to Get Certified Now

Did you miss our 2022 open cohort start dates? We have fast-track and self-paced options for all programs if open cohort semester timings do not work for your schedule! Have a large group from your organization interested in taking the program together? We also offer closed cohorts for groups of 20 or more that can start when it is best suitable for your team, and volume discounts are available!

 
 

Power Hour Webinars

Sourcing in 2023: The Year of Autonomous Sourcing

Join Dylan Alperin, Head of Professional Services, Keelvar and Magnus Bergfors, Director of Product Marketing, Keelvar as they discuss the rise of the automation revolution and CPO insights and 2023 priorities Keelvar’s 2023 Voices of Sourcing Survey.

 
 
 

Featured Content from Industry Experts

2022 State of Supplier Diversity Report

Supplier.io’s 5th State of Supplier Diversity Report revealed big changes in the primary drivers of supplier diversity. More and more companies see programs as a core component of their company culture, and executive and board support is at an all-time high. 

Desmond Williams, Digital Marketing Manager

The Meaning of a High-Quality Database in a Team Sport called Third Party Risk Management

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SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Mona Josten discusses the importance of having a high-quality third-party risk management program 


"Without data, you're just another person with an opinion."

  • Edwards Deming, Statistician

Linda Tuck Chapman, instructor and course designer at SIG University, states that Third-Party Risk Management is a team sport. A team consists of lots of different people with lots of different opinions. These opinions might be based on the various roles and result in other goals they have. They all strive for the same overall target, a managed and their company acceptable risk, but might have a different focus. The risk analyst might be especially eager to analyze the risk deeply, and the buyer might want to focus on a fast decision to close a deal.  

So, what can help turn their opinions into a decision? Or help, whoever has the right and the responsibility, help them make a decision? Of course, the answer is a high-quality database that turns opinions into facts. It is essential to ensure a high-quality database, especially in a worldwide program with different risk areas, teams, and global regulatory requirements. High quality, in that case, means (at least) that the data is accurate, that it contains all required data fields, that it has a clear structure, and that it is accessible to all relevant people while still restricting the possibility of editing the database itself (meaning strict controls).

Mona Josten, Senior Consultant, Deloitte Deutschland

The Benefits of Intelligent Process Automation

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SIG University Certified Intelligent Automation Professional (CIAP) program graduate Bob Lutz shares how implementing intelligent process automatation can be beneficial to your business

Bob Lutz, Account Executive, Medius

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