Monthly Archives: February 2006

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  The Five Keys To Building A High-Performance Organization

  Posted on February 27, 2006 by hudgeon in VendorManagement

  A Gartner review of the practices of successful companies in a variety of industries reveals five characteristics that are key to success “What we found is that HPOs share five characteristics. They set ambitious targets and consistently and continuously achieve those objectives. They display a strong sense of purpose through shared values both inside (among [...]

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• Procurement ROI

  Posted on February 24, 2006 by hudgeon in VendorManagement

  The Hackett group reports that “Overall, world-class procurement organizations now see procurement operations costs that are 20% less than typical companies (0.68% of procurement spending versus 0.85%), and operate with nearly half the staff (44.9 staff/billion of spend versus 89.2). They also see 133% greater return on the cost of procurement operations than typical companies, [...]

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• Connecting with others (Pt. 1)

  Posted on February 24, 2006 by hudgeon in VendorManagement

  The most important skill a vendor manager has is the ability to connect with others. A VM spends their day coordinating people with opposing interests. Those that succeed are able to find common ground and entice the parties to inhabit that ground. Those that fail are not able to do so. Those that fail miserably [...]

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  Accenture survey on supplier relationship management

  Posted on February 23, 2006 by hudgeon in VendorManagement

  A recent Accenture survey on supplier relationship management contains some interesting nuggets of information. “Researchers sought the views of some 229 senior global procurement executives in 14 countries through both Web-based and paper-based questionnaires. … The “survey noted that companies have an opportunity to achieve an additional 2 percent savings by increasing their focus on [...]

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• Litigation Invoice Review: List of what to look for

  Posted on February 23, 2006 by hudgeon in VendorManagement

  The ICalm Group has produced an excellent list of what to look for when reviewing a solicitor’s invoice: Does each entry identify the date service was rendered, the individual who rendered the service, the individual’s hourly rate and position (partner, associate, paralegal, etc.) an understandable description of the particular service rendered, the amount of time [...]

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• Aberdeen article on contract management

  Posted on February 21, 2006 by hudgeon in VendorManagement

  In late 2004, Aberdeen reported on the Best Practices in Contract Management (Registration required) – Another Tim Manahan gem. Here are their ten tips for establishing a good contract management system: Audit internal contract management processes, systems, and controls before investing in a contract management solution. Create a compelling business case with both benefit and [...]

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