Spend Matters

In a recent interview with Ashish Dhongde, Associate Director of Procurement at Unilever North America, Ashish shares his insights on risk mitigation strategies. He categorizes supply chain risks into three types: ?? Long-/Medium-Term External Risks (e.g., regulatory changes, political shifts): These require proactive planning and in-depth risk assessments. ?? Short-Term External Risks (e.g., strikes, sudden supply disruptions): These need immediate tactical interventions, such as adjusting inventory or sourcing from alternate locations. ?? Controllable Long-Term Risks (e.g., single-source dependencies, new feedstock innovations): These require strategic foresight and decision-making at the early stages of product development. Dive into his full interview here: https://lnkd.in/gZKgp_Tg #procurement #procuretech #supplychain #riskmanagement

?? Digital Procurement Transformation: Your Insights Needed! ?? Adopting digital procurement technology is more than just implementing new tools—it’s about achieving real value and overcoming challenges along the way. How do you ensure your organization is ready for the change? We’re reaching out to procurement leaders to share their experiences with adopting S2P tech and the real-world impact it’s had on their organization’s procurement process. Key questions we’re exploring: ?? What motivated your decision to go digital? ?? How has your S2P tech performed so far? ?? What obstacles did you face, and how did you overcome them? Your feedback will be instrumental in guiding procurement professionals through the transformation process. ?? Complete this 15 minute survey by December 6th: https://lnkd.in/gDzUFhsa Let’s work together to ensure successful procuretech adoption and drive true value! #DigitalProcurement #ProcurementTech #S2P #ProcurementLeaders #ChangeManagement #Survey

ICYMI: ‘Return on Relationships’ – the ROI of building supplier relationships and how to measure it: The annual State of Flux global supplier relationship (SRM) management study made its appearance in London last week at the 2024 Supplier Management Summit in its 16th rendition, this time themed ‘Return on Relationships (RoR). The report once again delivers data-backed findings of the state of SRM across the globe and gives #bestpractice models, […] The post ‘Return on Relationships’ – the ROI of building supplier relationships and how to measure it appeared first on Spend Matters.

ICYMI: GenAI and chatbots — The fallacy of ‘No UI is the new UI’ — Part 1: The phrase "no UI is the new UI" is a popular concept in user experience design. It suggests that the best user interfaces are often invisible or unobtrusive. Instead of relying on traditional visual elements like buttons, menus and text fields, these interfaces anticipate user needs and perform actions automatically or through subtle cues, creating a more seamless and intuitive experience. The concept is closely related to conversational user experience (CUX). Chatbots and voice assistants are often key components in delivering a user experience without traditional, visual user interfaces. Users interact with a system through text or voice natural language when interacting with a chatbot, which makes the interface invisible or less noticeable and aligns with the core idea of "no UI.” Here we explain the CUX experience, past and present. The post GenAI and chatbots — The fallacy of ‘No UI is the new UI’ — Part 1 appeared first on Spend Matters.

ICYMI: GenAI and chatbots — The fallacy of ‘No UI is the new UI’ — Part 2: As we explained in part 1, the "no UI is the new UI" concept is making a comeback because of the rise of generative AI (GenAI). GenAI has opened up new possibilities for providers to enhance their applications with new AI capabilities, one of which is chatbots. Chatbots are a way to move from graphical user interfaces (GUI) to conversational user interfaces (CUX). After looking at the potential benefits and the challenges that chatbots represent in part one, this second installment will cover some of the unintended consequences of CUX, especially related to the promise of reducing or even eliminating the usual learning curve. The post GenAI and chatbots — The fallacy of ‘No UI is the new UI’ — Part 2 appeared first on Spend Matters.

Join Docusign for a webinar on how CLM can help transform procurement contracting into a strategic advantage! Featuring insights from Nikhil Gaur, CLM Research Analyst at Spend Matters, and a CLM success story from Melanie Fuller, AVP of Procurement at Lendmark Financial Services. We’ll explore the latest #CLM trends, including #AI, #riskmanagement, and tips for measuring ROI. Register here: https://lnkd.in/g9_DcN2h #ProcurementInnovation #ProcurementTech #AI #ContractManagement #CLM #ProcurementTransformation #SupplierManagement

Don't miss Unilever's Ashish Dhongde's guide on managing #risk events and #riskmitigation strategies - https://lnkd.in/gZKgp_Tg Ashish finds it is helpful to think of risks in three groups based on where they arise and how a company can manage them. He provides this?succinct guide to types of risk and how to address them - Read the article: #procurementleaders #procurement #riskmanagement #compliance #SCRM #TPRM #Suppliermanagement #supplyrisk #SRM Bertrand Maltaverne Pierre Mitchell Carina Kuhl Jason Busch Jason Schenker Jo?l Collin-Demers Peter Smith Victoria Folbigg Dawn Tiura Geoff Talbot Jon W. Hansen Mathew Schulz S. Michael Cadieux Phil Fersht Tom Derry Matthias Gutzmann Sheena Smith Jenny Draper

??? Calling all #procurementleaders How do you know when it’s time to adopt digital procurement? How do you build support for this transformation across your organization? What challenges will you need to tackle along the way? Please take a few minutes (less than 15) to complete our survey by 6 December: https://lnkd.in/gDzUFhsa Your input will help Spend Matters shape research on the digital procurement transformation roadmap. Thank you for your valuable insights!

@SpendMatters released a new article! Resilience in times of uncertainty and ‘permacrisis’: making the case for SCRM Dive in here: https://ow.ly/pGNv105Poza

ICYMI: Key takeaways from SolutionMap: Supplier risk, TPRM and SCRM: In today’s fast-evolving business landscape, procurement and supply chain professionals are confronted with a staggering complexity of risk management (link to complexity piece) that requires a nuanced understanding of various dimensions of risk. The prevailing VUCA environment underscores this challenge — marked by volatility, uncertainty, complexity and ambiguity — which has become a defining characteristic of global markets. Recent events have illustrated how interconnected and fragile supply chains can be. Many organizations struggle to turn risk awareness into actionable strategies amid these challenges. The understanding of procurement-related risks has surged, yet a fragmented approach to risk management often leaves many companies vulnerable. As procurement leaders look to champion comprehensive risk management strategies they must embrace a holistic perspective that accounts for upstream risks and their cascading effects throughout the supply chain. It is true that ‘risk management’ in the context of procurement and supply chain management encompasses various ‘flavors,’ supplier risk management, supply risk management, third-party risk management (TPRM) and #supplychainriskmanagement (SCRM) (link to definition piece). However, despite the complexity and the efforts it may require, doing it well is a massive value to organizations(link to ROI piece). Technology can be a game-changer in capturing and unlocking value. However, the procurement technology landscape has become increasingly complex, with a variety of solutions catering to different aspects of risk management. In this multifaceted environment, the integration of different technological capabilities is crucial for effective risk management. Therefore, procurement professionals must pay attention to the nuances of these offerings to optimize their risk mitigation strategies. An important factor contributing to this complexity is the convergence and overlap of various technology segments (link to landscape piece, including Enterprise Risk Management (ERM), Governance, Risk and Compliance (GRC), Supplier Risk Management, TPRM solutions, SCRM solutions and a plethora of point solutions dedicated to a specific domain (human rights, environmental compliance, etc.). Each area offers distinct functionalities yet frequently intersects, creating a layered landscape of features and tools designed to enhance organizational resilience. The need for comprehensive risk governance further complicates matters. Organizations must establish clear frameworks that dictate how risks are identified, assessed, communicated and mitigated. This governance requires a proactive stance toward emerging threats and the agility to react swiftly to new incidents. Risk identification and sensing become paramount in this context, as firms must leverage historical and real-time data to…