Originally Posted on August 4, 2009
“Progressive business intelligence in key areas such as Spend Management should not only tell you where you have been but also where you are or where you should be going on an adaptive basis . . . think of true business intelligence in terms of a GPS system that can provide updates on current road and weather conditions in real-time. With this level of adaptive intelligence, we are no longer confined to a static understanding of historical events but can respond to the dynamic nature of an increasingly globalized supply chain.”
The above is an excerpt from my 4-part seminar series, The Changing Face of Procurement. It also happens to be the opening comment from my latest white paper titled “Achieving Proactive Spend Management Capabilities Through Adaptive Intelligence In Real Time” (see the Interactive Viewer below to access the paper in its entirety).
What is interesting about the statement or observation is that it was introduced in 2005, when spend data (it wasn’t quite “intelligence” back then), like purchasing itself, was seen as an ERP adjunct. Specifically, information regarding spend was culled from the static realms of a financial ERP. It was usually so daunting of a task that after going through onerous cycles, the information that was eventually provided was outdated and largely irrelevant.
Going back even further in time to 1998, when I first considered the possibility that the timely access to data which could then be applied in real-time to effect meaningful results was indeed a viable pursuit, there were no clear road maps as to how this would be achieved. Let alone the availability of a production environment model (reworking application or solution).
However, like time, insight ultimately moves forward toward tangible innovation. Innovation leads to a practical, real-world solution that meets and even surpasses the expectations of the original vision.
While Discontinuous Innovation is the term most frequently applied to such advancements, it is, in fact, the simple practicality of the breakthrough itself that eventually captures mainstream attention and ultimately gains acceptance.
Based on extensive research, the emerging solutions of today epitomize that original idea and ideal associated with a proactive versus reactive spend management capability.
This white paper explains how they do it from a conceptual perspective and why the practical outcome is essential to your organization. (2023 NOTE – Let me know if you would like a copy of the white paper, and I will find it in my archives.)
As always, your comments and questions are welcome.
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Procurement Insights
Achieving Proactive Spend Management Capabilities Through Adaptive Intelligence (14 Years Later)
Posted on September 23, 2023
0
Originally Posted on August 4, 2009
“Progressive business intelligence in key areas such as Spend Management should not only tell you where you have been but also where you are or where you should be going on an adaptive basis . . . think of true business intelligence in terms of a GPS system that can provide updates on current road and weather conditions in real-time. With this level of adaptive intelligence, we are no longer confined to a static understanding of historical events but can respond to the dynamic nature of an increasingly globalized supply chain.”
The above is an excerpt from my 4-part seminar series, The Changing Face of Procurement. It also happens to be the opening comment from my latest white paper titled “Achieving Proactive Spend Management Capabilities Through Adaptive Intelligence In Real Time” (see the Interactive Viewer below to access the paper in its entirety).
What is interesting about the statement or observation is that it was introduced in 2005, when spend data (it wasn’t quite “intelligence” back then), like purchasing itself, was seen as an ERP adjunct. Specifically, information regarding spend was culled from the static realms of a financial ERP. It was usually so daunting of a task that after going through onerous cycles, the information that was eventually provided was outdated and largely irrelevant.
Going back even further in time to 1998, when I first considered the possibility that the timely access to data which could then be applied in real-time to effect meaningful results was indeed a viable pursuit, there were no clear road maps as to how this would be achieved. Let alone the availability of a production environment model (reworking application or solution).
However, like time, insight ultimately moves forward toward tangible innovation. Innovation leads to a practical, real-world solution that meets and even surpasses the expectations of the original vision.
While Discontinuous Innovation is the term most frequently applied to such advancements, it is, in fact, the simple practicality of the breakthrough itself that eventually captures mainstream attention and ultimately gains acceptance.
Based on extensive research, the emerging solutions of today epitomize that original idea and ideal associated with a proactive versus reactive spend management capability.
This white paper explains how they do it from a conceptual perspective and why the practical outcome is essential to your organization. (2023 NOTE – Let me know if you would like a copy of the white paper, and I will find it in my archives.)
As always, your comments and questions are welcome.
30
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