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How could the $40million NAB Executive fraud been avoided?

Forty million! That is how much an ex-NAB executive was able to defraud from the bank before being detected. What would happen to your business if you lost even a fraction of that kind of money? Trust is important in a business. But so is vigilance against untrustworthy people. People…
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5 reasons to use reverse auctions in 2019

Reverse Auctions

“What is the best deal you can offer me?” that is the heart of negotiations. Reverse auctions are a tried and tested tool to get to the “best deal”. A brief intro on “what is a reverse auction”: In the case of normal auctions, the vendor puts up a good,…
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Cryptocurrencies are endlessly fascinating

They raise some interesting questions about fiat money and how we assign value. They are volatile as investments, not used for transactions as much (as they should be a true currency) and at this juncture they are still mostly an engineering exercise of “well we can do it, so why…
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Supplier Love – 7 tips for Procurement Professionals this Valentines

Supplier Love

While February is the month of love, there is a bit of Valentine’s backlash with people wondering why is it that we need a special day to cherish our partners when we should be showing our love and gratitude for them all year long. Certainly, we should be mindful of…
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Can someone PLEASE stop the mavericks?!

All of us in procurement know that procurement non-compliance happens. The bigger the organisation, the more likely the chance that someone, somewhere is making purchasing decisions without consulting procurement or going through the defined process. Often referred to as maverick buying, this type of behaviour can also be the result of…
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“Let us welcome our newest chatbot to the team!”

Remember the good old days where most manager’s had personal assistants? You may not because it has been many decades since it was viable to have a large pool of secretaries to whom you could delegate tasks. Technological aids have facilitated the self-service model which in-turn has seen the decline…
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Trust me I am in procurement

What does it mean to trust someone? It certainly does not mean that we know everything about them. Indeed, after a certain point, further information is meaningless.  Studies have shown that once an impression is made, new facts don’t necessarily trigger a reassessment. If our trust is formed based on…
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Does data give your day a va-va-va voom?

Data

Is data the most disruptive force for procurement, or if used correctly, can it power us forward? In 2016, EY released a paper exploring the role of analytics in procurement. The paper is well worth the read, and this got me thinking about two of the ways analytics would change…
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If she is blockchain…do you trust?

Blockchain

What is trust? The dictionary defines trust as “a firm belief in the reliability, truth or ability of someone or something.” Although, do we have a “firm belief”? How often do you stop to think about the people or organisations you trust? When was the last time you asked why…
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You are brilliant at procurement today. But will you be tomorrow?

Behind every successful product and service is a brilliant procurement team … a team who finds innovation, and uncovers value. Procurement has contributed to the delivery of outstanding global business achievements … global communications … economically providing essential services for those who need them the most, … making electronics more…
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