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Five Insider Tips From For Procurement Sourcing Professionals

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Five Insider Tips From For Procurement Sourcing Professionals

  1. 1. Five Insider Tips From and ForProcurement Professionals Dr. Augustine Fou Hollis Thomases November 8, 2012.
  2. 2. 1. Triple Bid Everything “While this may seem obvious, getting multiple bids and proposals for every project gets you more than just better prices; it can give you new ideas, additional questions you didn’t think to ask, better ways of measuring performance, etc.” - Procurement Manager 1November 8, 2012 2
  3. 3. 2. “Prove It” to Me “If they say they do great SEO (search engine optimization), make them prove it by showing you the keywords that they actually rank for or that they have helped clients rank for.” - Sourcing Executive, CPGNovember 8, 2012 3
  4. 4. 3. You Get What You Pay For “Paying the lowest price may not always be the best idea, especially when it comes to strategy. I would say, pay more upfront to get the strategy and plan correct, then get the best price for the production work that comes after.” - Procurement Manager 1November 8, 2012 4
  5. 5. 4. Measure What Matters “Our CFO is not going to be happy when you tell him about how people felt about your brand; you need to show what actions the customers took and if those actions translated into sales. Everything else is frivolous.” - Strategic SourcingNovember 8, 2012 5
  6. 6. 5. Test-and-Learn Before Y/E “Sometimes we have funds left over. Instead of wasting it on buying more impressions or giving it back, we can set up a few small pilot programs for test-and- learn. Based on actual metrics, we can hit the ground running in Q1 by simply scaling up the one that worked best. - CMONovember 8, 2012 6
  7. 7. Digitally Mature CompaniesSignificantly Outperform Everyone Else “A new report released by Capgemeni Consulting based on years of joint research with the MIT Center for Digital Business found that digitally mature companies are, on average, 26 percent more profitable, have a 12 percent higher market capitalization, and get 9 percent more revenue from current assets . The advantage is there in every industry.” BusinessInsider, Nov 5, 2012 Report Source: Capgemeni Consulting, Nov 2012-7- Augustine Fou
  8. 8. Digital Maturity by Industry High technology Banking Insurance Travel/Hospitality Telecom Retail Consumer Goods Utilities Manufacturing Pharmaceuticals Source: Capgemeni Consulting, Nov 2012-8- Augustine Fou
  9. 9. Smart advertisers havealready shifted dollars digital-9- Augustine Fou
  10. 10. Dr. Augustine Fou – Chief Digital Strategist “I help clients leverage digital tools and techniques to create sustainable competitive advantage.” FORMER CHIEF DIGITAL OFFICER, HCG (OMNICOM) MCKINSEY CONSULTANT CLIENT SIDE / AGENCY SIDE EXPERIENCE PROFESSOR AND COLUMNIST ENTREPRENEUR / SMALL BUSINESS OWNER PHD MATERIALS SCIENCE (MIT 95) AT AGE 23 ClickZ Articles: Slideshares: LinkedIn: 8, 2012 10
  11. 11. Hollis Thomases – Digital Advocate In 1998, Hollis Thomases founded Maryland-based Web Ad.vantage, providing strategic digital marketing and advertising solutions. An award-winning entrepreneur, Hollis authored the book, “Twitter Marketing: An Hour a Day,” published in January 2010 by John Wiley & Sons, and is a columnist with, Social Media Marketing Magazine, and ClickZ. Hollis also frequently speaks at industry conferences and association events. Hollis has delivered cost-effective actions and insights for an extensive list of clients including Endo Pharmaceuticals, SANYO Biomedical, DAP Products, Inc., UNICEF Canada, and Visit Baltimore. Hollis Thomases graduated from Cornell University with a BA in Social Relations. You can find her in the Twittersphere @hollisthomases, on LinkedIn, by email or by old-fashioned phone: +011-410-942-0488.November 8, 2012 11