Enterprise Performance Management - Data is First Priority

 Original Blog post - https://www.linkedin.com/pulse/journey-procurement-transformation-begins-part-ii-prashant-mendki Procurement transformation journey is complex, cross functional, time consuming and even frustrating at times. The very basic but a strategic step to start this journey is “Spend Analysis”. Again – this has to be done in a right way to get the potential benefits. We talked about that in first part of this article https://www.linkedin.com/pulse/journey-procurement-transformation-begins-part-i-prashant-mendki By definition – Spend Analysis is an analysis of your spend (invoice paid), what items you are spending on (product), who you are paying to (supplier). It looks really simple – no? When I worked with one of the large Media Entertainment company few years back, they had thousands of suppliers, millions of transactions, good amount of Maverick spend. It’s a global business with more than $2Bn in Spend, 12 different global systems. Thousands of transacti

As a part of procurement consulting practice, I used to interact with many procurement end users few years back. During dinner conversations I heard stories and jokes about how that so called “transformation project” is going on for years and after change in leadership couple of times – how nobody knows where it will go. During the 1980s, procurement function’s focus was on creating a well-structured strategic sourcing process. It evolved further over years and moved towards developing sophisticated strategies, cross functional and delivering value to the organization. To achieve these goals – leaders planned for larger “procurement transformation” initiatives. The very definition of “transformation” implies a change from one form to another where the outcome is supposed to be much better. So in procurement world, this means rather than just applying “band aid” approach – changing things here & there – overhaul the existing function with focus on processes, people, techn

In my last contribution  we discussed – what is IoT and how this third wave of internet will change the world. Next, what are the scenarios that can be envisioned at this point where IoT will make an impact. On a high level there are 4 that can be listed down. Machine to Dashboard When a device senses something, it will send that data to a dashboard – which in turn will alert certain system to respond. The other system responds depending on a priority and the operation ends there. The most common example of this scenario would be – server monitoring dashboard. Server process fails – a red alert goes to a dashboard – IT person responds to it or server restarts the process. This is not something new. It happens already. In IoT scenario we will see enhanced version of this that will change the speed with which these devices talks to each other. In real life a train collision can be averted in seconds, a plane mishap can be taken care better. The response time and automati

Share 0   Share 4   Tweet 0   +1 0   Share The new buzzword in technology is “Internet of Things” (IoT). The layman’s scenario that anybody will tell you is – A vending machine getting out of coke, will sense the quantity of bottles, transmit a message to warehouse that it needs more supply which may transmit a message to nearby transporting trucks to fill the order and within few minutes it’s refilled. So a person visiting, checking stock, placing an order and after processing getting a supply will be things of past. The entire supply chain scene is automated here in the era of IoT. Internet has probably gone through 2 different phases since inception. If I leave technological advances aside – there was an era of “Internet of Content”. People browsed websites to get information. Loads of webpages, images, and