On Demand Webinar
Webinar Details $219
- Webinar Length: 100 Minutes
- Guest Speaker: Jim Bergman
- Topic: Purchasing
- Credit: ATAPU 1.5, QPANJ 2.0, CPE 2.0
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Contract managers, sourcing leaders, contract attorneys, and supplier relationship management practitioners are looking to AI as a solution for many of their commercial challenges. However, there are a few aspects where AI is falling short.
This session will identify six areas where humans are still the preferred option in attaining contracting and supply chain management excellence.
- Integrating Your Sourcing and Category Strategies with the Enterprise’s Larger Objectives
- Attaining Supplier Relationship Management Excellence through Superior Engagement
- Integrating Your Internal Stakeholders to Ensure Agile Alignment to Evolving Requirements
- And three other areas!
Join us for this one-hour session to gain insights and share your thoughts.
Your Benefits For Attending:- Discover six critical areas where human expertise surpasses AI in contracting and supply chain management
- Learn strategies to better align sourcing and category management with enterprise-wide objectives
- Gain techniques for improving supplier relationship management through enhanced engagement
- Understand how to effectively collaborate with internal stakeholders for more agile and adaptive operations
- Introduction
- Welcome 00:01:47
- Commercial Project Yield Rates 00:03:51
- Delivery, Strategy, Negotiate, and Tener 00:10:34
- Is There a New DNA for Commercial Practice? 00:18:12
- Area 1: Integrate Sourcing and Category Strategies with the Enterprise’s Broader Objectives 00:27:09
- Mandate from CEO: We Must Increase Our OROA by 20% for Three Consecutive Years 00:27:31
- How Can My Contracts Help Me Build My Company’s OROA? 00:30:33
- Human Solution 00:32:09
- Area 2. Attain SRM Excellence Through Robust Supplier Engagement 00:39:32
- What Should I Do With A Bottleneck Supplier? 00:41:17
- Identifying A Bottleneck Supplier Moving Away From The Quadrant 00:44:42
- Identifying A Bottleneck Supplier Moving Away From The Quadrant Cont’d 00:49:10
- Area 3. Engage Stakeholders To Ensure Agile Alignment To Evolving Requirements 00:50:26, 01:01:39
- Area 4: Mitigate Risks and Breaches Through Empathy and Intuition 01:06:13
- Announcing Cost Reduction Plans 01:14:51
- Area 5: Build Trust, Collaboration, and Innovation 01:19:17
- McKinsey Quote 01:20:53
- It Starts with Trust 01:22:45
- Trust 01:23:26
- Collaboration 01:23:37
- Innovation 01:24:14
- Customer Collaborative Activities 01:28:03
- AI Robots Trusting Each Other 01:30:53
- Area 6: Deliver Impactful Communications and Change Management 01:32:20
- Per PROSCI: Change Management Experts (5+ Years) Use AI in Their Practice More Than Novices 01:32:42
- Are You a Change Management Expert or Novice? 01:33:42
- Skills Across Supply Chain Management Are Developing 01:35:54
- AI Is Lagging Because Change Management Skills Are Lagging 01:37:22
- Human-Based Communications Are More Effective with PERCS 01:38:08
- Perception: Sensory Stimuli From Environment 01:38:28
- Area’s 1 - 6 Recap 01:40:24
- Any Questions? 01:40:44
- Presentation Closing 01:42:19
- Artificial Intelligence (AI) 00:00:07, 00:02:01, 00:08:58, 00:15:03, 00:30:32, 00:39:09, 00:47:50, 01:06:36, 01:14:48, 01:25:14, 01:29:00, 01:34:37, 01:39:39
- Asset 00:04:19, 00:06:06, 00:31:06, 00:35:07
- ChatGPT 00:30:51
- Contract 00:04:21, 00:20:28, 01:08:01
- Contract Management 00:39:33
- Cost 00:02:49, 01:08:05
- Inventory 00:38:50
- OROA - Operating Return on Assets 00:30:52, 00:36:12, 00:44:15
- Procurement 01:02:43
- Risk Management 00:48:00
- Risk Mitigation 00:40:06, 01:06:18
- Risk Register 01:06:20
- Stakeholders 00:05:46, 00:24:59, 01:00:44
- Supplier 00:04:27, 00:13:00, 00:33:47, 00:39:58, 00:45:04, 01:03:02, 01:07:55, 01:15:55
- Supplier Relationship Management (SRM) 00:39:35
- Supply Chain 00:44:28, 01:36:01
- Supply Chain Management 00:00:10, 00:03:59, 00:21:44, 00:39:57
- Vendor 00:04:28
Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.
Asset: Property owned by a person or company, regarded as having value and available to meet debts, commitments or legacies.
Capitalize: To capitalize is to record a cost/expense on the balance sheet for the purposes of delaying full recognition of the expense. In general, capitalizing expenses is beneficial as companies acquiring new assets with long-term lifespans can amortize the costs. (www.investopedia.com)
ChatGPT: ChatGPT, which stands for Chat Generative Pre-trained Transformer, is a large language model-based chatbot developed by OpenAI and launched on November 30, 2022, notable for enabling users to refine and steer a conversation towards a desired length, format, style, level of detail, and language used.
Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Contract Management: The process of managing contracts that are made as a part of legal documentation of forging work relationships with customers, vendors, or even partners.
Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location
Inventory: A company's inventory typically involves goods in three stages of production: raw goods, in-progress goods, and finished goods that are ready for sale. Inventory or stock refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilization.
OROA - Operating Return on Assets: OROA stands for Operating Return on Assets, which is a financial ratio that measures a company's efficiency and profitability. It is a variation of the traditional Return on Assets (ROA) ratio.
Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.
Risk Management: is the process of identifying, understanding, and grading risks so they can be better managed and mitigated.
Risk Mitigation: Risk mitigation involves taking action to reduce an organization's exposure to potential risks and reduce the likelihood that those risks will happen again.
Risk Register: A risk register is a document used as a risk management tool and to fulfill regulatory compliance acting as a repository for all risks identified and includes additional information about each risk, e.g. nature of the risk, reference and owner, mitigation measures. It can be displayed as a scatterplot or as a table.
Stakeholders: A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
Supplier Relationship Management (SRM) : Supplier relationship management is the discipline of strategically planning for, and managing, all interactions with third-party organizations that supply goods and/or services to an organization The objective of SRM is to maximize the value of those interactions.
Supply Chain: A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. The supply chain also represents the steps it takes to get the product or service from its original state to the customer.
Supply Chain Management: In commerce, supply chain management, the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods as well as end to end order fulfillment from point of origin to point of consumption.
Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.
