Webinar: Secret Behind Sourcing Productivity by Arkestro

Savings Forecasts in Real Time: The Business Impact of Procurement Operations

July 7, 2021 at 8:00 AM PT

 

Until now, procurement operations and savings forecasting has been mostly guesswork and inference, based on a combination of historical spend and market trends. However, there is one simple and often overlooked method of forecasting savings by department, buyer and category: Quotes.

Quotes at most companies live in email-and-spreadsheets and in data silos, remaining inaccessible until Purchase Orders are issued. Sourcing & Procurement Operations teams now have the power to generate real-time savings forecasts, set targets and catch costly exceptions before they impact your Profit & Loss (P&L).

This webinar will explore how top procurement teams are able to use real-time data in Quotes and Purchase Requests to forecast savings on Purchase Orders, to proactively identify costly exceptions and to consolidate spend with preferred suppliers, before a Purchase Order is issued. Using leaderboards and micro-bonuses, procurement teams can now track savings target attainment in real time.  Procurement teams are now able to motivate buyers to exceed targets for operational excellence, including supplier consolidation, on-contract spend attainment, compliant payment terms and lead times.  

In this webinar, the panelists will share insights into the future of procurement forecasting, including:

·        How to accurately forecast savings in real-time using current quote data 

·        How to leverage quote data to set targets for procurement operations excellence

·        Best practices for motivating your procurement team to exceed savings targets

Please join us for a one-hour webinar where we will demonstrate how quote data can help you scale up your high-performing procurement team by highlighting the emerging role of procurement operations and Centers of Excellence.

Our Speakers:

Edmund Zagorin, CEO & Founder at Arkestro
Frank Battino, Director of Strategic Relationships at Holman Enterprises
Paul Branch, Chief Technology Officer, World Commerce & Contracting


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Webinar: Secret Behind Sourcing Productivity by Arkestro

  Roundtable 

Growing High-Performing Procurement Teams

October 12 | 8 AM PT | 11 AM ET | 5 PM CET

Using Forecasts, Leaderboards and Ops Targets To Empower and Motivate Top Talent

The top challenge in procurement’s digital transformation is hiring and enabling talented professionals with sharp analytical skills who are passionate about digital procurement excellence. What’s the solution? Research consistently shows that high performing procurement teams and successful digital transformations all use the same best practices: 

  • Start small with achievable goals and celebrate “quick wins” (Gartner)
  • Foster individual employee ownership of objectives to enable growth (Gartner)
  • Clearly document and evangelize procurement’s value proposition within the company’s executive team to highlight your team’s progress towards the future vision (HBR)

In this roundtable, we shine a spotlight on the role of Procurement Operations in driving performance excellence, with a deep discussion from experienced CPOs and Center of Excellence leaders. Specifically, our discussion will focus on the use of forecasts to set quarterly targets, leaderboards to motivate excellence through internal competition and ops targets to recognize high performers. As HBR notes: “Information and insights help category management teams develop smart strategies, identify a portfolio of value-creation projects, and mature their categories over time. Such an approach creates sustainable value. Saving becomes a natural outcome, but not the objective—building sustainable procurement models is the primary goal.”

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