Philip Ideson, the Host of the Art of Procurement, interviews Kelly Barner (Buyers Meeting Point) on the topics of procurement trends, Robotics Process Automation (RPA) and Supply Market Intelligence (SMI). Philip writes about the SMI portion of the interview:
“Our second area of discussion was Supply Market Intelligence (SMI), and it was Kelly’s expertise here that originally prompted our interview. From my personal experience, access to SMI is a key differentiator between tactical and strategic procurement organizations. If you don’t lever a library of market and costing intelligence – or if you have the raw data but you do not turn that into actionable intelligence – then you are asking the market places within which you buy to set the commercial terms of any product or service that you buy. Yet despite this, I find a lot of organizations are loath to invest the time – or the money – in developing this source of competitive advantage. In my conversation with Kelly, I wanted to explore what procurement leaders and professionals can do to access the SMI that they need without the cost of doing so becoming prohibitive.”
Also concerning SMI, Philip writes that you will learn:
- An overview of what Supply Market Intelligence really is.
- Why the acquisition of Supply Market Intelligence need not be an expensive pursuit (hint: the data you need is already out there somewhere).
- Why access to Supply Market Intelligence is critical to building stakeholder and supplier relationships.
- Considerations when building a framework to operationalize the gathering of relevant Supply Market Intelligence.
Click here to listen to the interview.
