Spotlight Content
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ChatGPT: What Procurement Leaders Need to Know and Do Right Now It’s too soon to say how generative AI tools like ChatGPT will play out. But one can say with confidence that procurement leaders must explore the possibilities of generative AI and take advantage of it where possible, with caution of course. In this bulletin, ChatGPT: What Procurement Leaders Need to Know and Do Right Now, Wayne Clark, vice president of consulting at GEP, explains the need for procurement software to offer this AI functionality. He also presents practical use cases that procurement teams can pilot to test generative AI and talks about the importance of protocols for responsible use of such tools. What’s Inside: •The importance of pilot tests and SWOT analysis •Managing risk with usage protocols and safeguards •Incorporating generative AI into commercial applications This bulletin is essential reading for CPOs who want to use generative AI without potentially expensive missteps.
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The 5 Differentiators Supplier Diversity Leaders Should Focus on to Innovate and Succeed In answering a call for research into why some programs succeed more, the SIG Research team decided to study top performers of supplier diversity programs. Using benchmarking and market data from partners like Supplier.io, we identified the top 20% of programs by industry. We then invited the leaders of those programs to a series of interviews in which we discussed how and why they think their programs reflect best-in-class. Those looking to take their programs to the next level - increasing their diverse spend, expanding their team, or achieving greater awareness - would benefit from reviewing this resource. From our interviews with companies like CDW, Ford Motor Company, Global Payments Inc., Honeywell Aerospace, Motorola Solutions, Inc., Unilever, Wilmington Trust and M&T Bank, and others, we confirmed that best-in-class leaders are much the same as most organizations. However, we also discovered what they were doing to differentiate themselves from most programs and identified five unique (and common) areas where each company excelled in:
In this paper, SIG reveals unique insights and specific, practical steps these leaders have and are continuing to take to achieve remarkable results. |
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The 2023 Coupa Business Spend Management (BSM) Benchmark Report As procurement and sourcing leaders, you currently face a barrage of global economic disruptions while under mounting pressure to keep your seat at the table, and deliver sustained savings to support cost-reduction initiatives. To withstand these challenges, you must prioritize platform investments that maximize business value and help you track progress against accurate industry benchmarks. The 2023 Coupa Benchmark Report can help you—featuring 20 powerful metrics based on actual spend transactions on a platform with US$4T+ of cumulative global business spend under management. You will gain: • Insights into critical KPIs for successful business spend management (BSM) digital transformation initiatives • Data-driven perspectives on where procurement and sourcing leaders stand within the global community and how to optimize your processes as needed • Views of how organizations run best-in-class BSM to deliver profitability, performance, and purpose
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Coming Soon! What Is Your Path to Data Understanding? SIG's Community of practitioners, solution providers, advisors and consultants have been sharing their goals, challenges, and successes in digital transformations for years. SIG has hosted hundreds of case studies in our Resource Center and at our events, discussing proven practices and innovative approaches. We decided to formally benchmark with our Community and document strategies for delivering on the promised success of those digital transformations. We are now introducing the results of these discussions and Community benchmarking with the white paper "What Is Your Path to Data Understanding?". Interested in reading or sponsoring? Click here.
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