Tag: millennials

 Procurement decisions are taking significantly more time than ever before. “Sliding to the Right” is a commonly used phrase these days. More are even being cancelled after proposals are submitted. Contractors spend countless hours and thousands of dollars bidding, often working late nights, holidays and weekends. Contractors often spend anywhere from 20-35 percent of a contract’s value on business development, capture, and proposal development compared to the private sector, which typically spends three to eight percent. Make decisions quicker and be respectful; it takes a lot of money and effort to respond to your RFP’s.

http://www.federaltimes.com/story/government/acquisition/blog/2015/02/20/procurement-fix-legislation-rule/23754523/

The growth in member savings is attributable to many factors, including higher-volume purchasing through UHC’s supply contracting company, Novation; greater adoption of UHC’s advanced analytics; and member collaboration with UHC experts to identify savings opportunities linked to physician preference items, supply utilization, and standardization.

http://www.virtual-strategy.com/2015/02/19/uhc-member-hospitals-achieve-more-450-million-supply-chain-savings

Being primarily a military contractor, like my company is, communication is a huge thing we use to build relationships with suppliers. A lot of times, there is little information we can share with the rest of the world but when we can share forecast or plans or anything like that it goes a long way to creating a strategic relationship with our suppliers. They can take that information and plan better on their side, which all of us want to do, and in the long run it makes things better for both of us. Also, when we find a supplier that is high performing, we want to promote them throughout the company and put them where it is a good fit. From our side, we get economies of scale, and the supplier gets more exposure into other lines of business. It’s all a give and take, working on finding ways that we can help each other meet our goals.

http://www.ebnonline.com/author.asp?section_id=3219&doc_id=276651

So what, you may ask? For starters, millennials are very different from any of the previous generations. It starts with their upbringing and constantly being surrounded by mobile technology and social media. Apparently, they are also quite motivated, but not necessarily willing to compromise their personal life (we hear of more and more CPOs rethinking the 9-5 office life). And because millennials are so ambitious, they will also want to progress at a faster pace than the organisation can keep up with.

http://www.procurementleaders.com/blog/my-blog–maggie-slowik/2015/02/17/do-you-know-who-is-on-your-procurement-team-