Thursday, 13 October 2016

5 ways leading CPO’s are looking to embrace procurement technology

Deloitte recently published their Global CPO Survey 2016, where over 300 leading procurement professionals from 33 countries were questioned on key issues. The full report can be found here. 

This year there was a particular focus on emerging technologies in the procurement space and the value that they can provide to procurement functions.

We have identified 5 of their key findings.

  1. 45% of CPO’s are looking to embrace cloud technology
  2. 70% of CPO’s are focussing on self-service solutions with user engagement and experience high priorities.
  3. 40% have identified a clear digital strategy
  4. Cost reduction was a top 4 priority amongst 74% of respondents (did someone say eAuctions!)
  5. 30% are looking to implement an eSourcing solution and 11% a Supplier Information Management tool
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We are very encouraged that CPO’s have identified the importance of technology in achieving their procurement goals. The thoughts captured above echo the very principles upon which Market Dojo was created; an intuitive cloud-based eSourcing solution with a strong focus on self-service leading to wide adoption and utilisation. Hopefully, this makes us well placed as CPO’s look to implement their vision for digital solutions.

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Tuesday, 11 October 2016

[Case Study] Efekto Pro use Market Dojo to make tremendous savings with their partners

Vlado Prosenik is the founder of Efekto ProEfekto Pro are a procurement consultancy that specialises in purchasing and cost optimisation.

How did you first get into eSourcing?

My involvement with eSourcing originally started when I was searching for procurement software that would allow me to centralise and produce savings on the procurement of IT hardware. At the time I was the Chief Procurement Officer for the biggest bank in Slovenia, the NLB Group.

We were looking for solutions that passed specific requirements such as cloud-based, easily usable, inexpensive and would take little to implement across a large organisation. It was also at this time that I was founding my own procurement consultancy and specifically searching for a solution that matched.

I first heard of Market Dojo through a Gartner report an IT vendors, which identified Market Dojo as one of the upcoming newcomers to the eSourcing sector and I remember thinking at the time that they would be a great potential fit.

When did you first consider using Market Dojo?

Market Dojo was the obvious option because of their weighted auction functionality, Software-As-A-Service design, their ability to change language preference and their support team. While we were trialling the software, we noticed that unlike some of the others, Market Dojo was always willing to help and immediately investigate any problems that I faced. 

How have you been using Market Dojo?

Since then, I have been using Market Dojo to identify and run eSourcing events or opportunities on behalf of clients. I have ran events in industries such as oil and energy retail, telecommunication, FMCG, insurance, steel industry,  construction and the automotive industry, etc.

What do you expect from the eAuction?

Typically I would expect a 12% savings on average from an event. However, I have found in the past that savings from an event can range from 3% on direct materials sourcing to 75% savings on when sourcing indirect materials.

It’s not unusual for me to discover that previously clients have been buying from a vendor at a rate which is much higher than the market price. Especially if it's maverick spending (purchases made outside of agreed contracts) and with an incumbent supplier that they have been working with for a number of years. In these cases, there is typically the potential to generate a very high level of savings.

Lastly, what are your favourite aspects of Market Dojo?

One of my favourite things about Market Dojo is the improvements that they are constantly making to their software. One of the challenges I faced with a client early on was using Market Dojo with a Slovenian business. My client knew very little English, however, with the german language setting that was available at the time, it allowed them to use the software on their own to a passable level. Shortly after raising the issue and some collaboration on my part, Market Dojo promptly made the addition of Slovenian as a language to their user interface. 

Having used Market Dojo for a number of years, I have always found them to be highly responsive with their support. Any issues or bugs that have been raised are quickly eliminated and they are always willing to propose solutions to any problems that I have faced. It's their weighted auction and scoring functionality, in combination with the software being hosted online, that has allowed me to work with numerous clients across Slovenia and achieve successful savings.

You can read more about our work with 
Efekto Pro here.

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Thursday, 29 September 2016

eWorld Sept 2016 - A Brave New World

This years eWorld Procurement and Supply Summit was a first time for three members of our team. All of us armed with the prior experience of tradeshows but were surprised by the range of procurement innovations and technologies on show.

Having travelled down to the QEII Centre from our office in the south-west, we were able to enjoy a few of the sights of Central London in the very early hours of the morning as we walked across Westminster Bridge and past the likes of Big Ben and the Houses of Parliament.


As we arrived it was a hive of activity with our business development managers getting ready for the day and early delegates arriving eager for the opportunity to discuss the very latest progress in procurement technology.


The day also gave us a fantastic opportunity to meet some of the other exhibitors at the event such as our partners Per Angusta and Odesma.


We also had the time to ‘get involved’ with some others that we saw at the event, such as the team from Procurious who were running their social media clinic and some of the presentations that we going on throughout the day.


However the highlight of the day was the presentation from Nick Drewe of Market Dojo and Nick Ford of Odesma discussing the ‘Transforming Aggreko to Procurement Leaders’ (which will shortly be released on our resources page).


Once we got back, it was time to choose the winner of our eWorld competition and Adam Creme from Innovators International was the lucky individual to win a free month's license of Market Dojo’s software.

A big thank you to Claire Boffey and all of her team at Revolution for the amazing event as well as everyone who took the time to attend and participate in the day.

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Monday, 26 September 2016

10 Contract Management Questions That You Need To Be Asking

Market Dojo is pleased to welcome a guest post from Noel Green.
Noel is the Founder of ContractsWise, the innovative cloud-based contract management and administrative software provider that supports contract improvement and risk mitigation. 

Having worked in the contract management sector for the last decade, here are my 10 Contract Management questions that not only need to be asked but are critical in ensuring that contract managers are optimising their performance of contracted services. 

For full disclosure, this list is by no means a comprehensive list, but just questions that I believe are integral to the success of anyone attempting to manage their key contracts.

1. Do you have clarity on the objectives of the contract? - All too often there is a lack of understanding on what the contract is meant to be delivering. Do key stakeholders understand the aim and expectation of the contract and has this been effectively communicated with the supplier?

2. Are you giving the supplier an excuse for not performing? - Does the supplier need additional information or support from your organisation to deliver on the contract?

3. Are you making full use of the supplier's expertise? - Suppliers are typically chosen not only for their ability to deliver goods in an effective manner but also due to their experience and knowledge in a particular field. Are you giving your supplier the opportunity to offer their ideas and thought on how you can work more effectively together?

4. Is it both you and your supplier’s ambition to build a strong, respective working relationship? - If your idea of a relationship with your supplier is one of cooperation and collaboration, but your supplier is characterised by confrontation and animosity. Can the relationship be mended or should the supplier be re-evaluated in consideration with their view of the relationship as non-strategic?

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5. Do you understand the risks associated with the contract and is action being taken to mitigate or avoid these risks? - Do you regularly review the risks of the contract with stakeholders? They may be in a position to identify new risks at an early stage and implement risk mitigation actions.

6. Do you know what the stakeholders think of the contracts performance? - Often stakeholders within different departments may have differing views on how a contract is performing. Try to understand all of the stakeholder’s views, whether they are pulling their hair out or delighted by its performance.

7. Is the performance of the supplier being monitored? - Performance reports from all of the stakeholders and maintaining a record of the contract can be used to provide information on the overall contract performance.

8. Are the most important contracts being managed? - Typically contract management resources are scarce therefore it is integral to put the most effort into contracts that are critical to your organisation as a whole.

9. Do senior managers acknowledge and review contract performance? - The most important contracts will have a significant impact on your organisation, therefore if they are successful is this being recognised? If they are performing badly are the senior management reviewing and aware of the associated risks?

10. Is contract information being efficiently organised and retrievable whilst being safely stored? - Contract administration and management can become much more efficient if everyone is aware of where the contract documentation is being stored and retrievable by those who have the authority to do so.

Noel Green
Founder of ContractsWise
Twitter: @ContractsWise
LinkedIn: Noel Green
Google Plus: Noel Green

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Thursday, 22 September 2016

[New Release] Answering for your participants and quick identifiers

We have added some new features to Market Dojo, based on feedback from our users. We believe these will make our products more useful and our customers more productive.

Answer questionnaires on behalf of your participants

Hosts can now answer questionnaires for their participants. This is something our customers have requested, because, from time to time, they want to involve participants who are unable to complete the questionnaire themselves. This complements our existing proxy bid feature and means that you could potentially run an entire weighted event without any of your participants logging on to Market Dojo. To make sure everything remains fair and above board, participants will be alerted when an answer is submitted on their behalf. Questionnaires in both Market Dojo and SIM Dojo benefit from this feature.

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Unique IDs

Some of our customers run a large number of very similar events. This leads to a challenge when identifying which event is being discussed after the auction has completed. A common solution is to assign each event a unique ID. Then, when referring to the event, everyone can use the ID rather than a combination of product names, codes and dates. The unique ID will be displayed prominently to Host and Participants across Market Dojo. Because some people have their own ID conventions, it is necessary to turn this feature on in ‘Display Settings’.
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Questionnaire Progress Bars

One of the major additions is the inclusion of questionnaire progress bars. Some questionnaires that we have seen include over 100 hundred questions. Such as document uploads, text as well as numerical values. To assist suppliers, we have included a progress bar that informers participants of how many answers they have completed.
Other changes

We have made many smaller tweaks and fixes to make the product work more smoothly for all our customers.

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Tuesday, 20 September 2016

[Guest Blog] Bruno Alvarez - Some thoughts on Direct Materials Sourcing

Bruno Alvarez is regarded in Latin America and the Americas as one of the Leading Contracting and Procurement Experts in the region. Bruno’s background comes from the Energy and Gas industry and working at global “Fortune 500” companies such as Royal Dutch Shell, Duke Energy, ICI and Zeneca.

Indirect materials sourcing is simple in comparison to direct materials sourcing, or at the very least it's simpler. 

When considering direct materials sourcing, you need to remember just how different it is to the everyday sourcing of non-essential items. Direct materials sourcing can have had a major impact on the production process especially in terms of strategy.


This is because you will typically find that direct material sourcing falls into two groups, those items that are Bottlenecks and those that are Critical. 

- Critical also known as Strategic includes items that have a high-profit impact in addition to a high supply risk. These types of products are typically purchased from a single supplier and if the supplier ceases to deliver, then it may halt the entire supply chain.

- Bottlenecks include items that have a low-profit impact and a high supply risk. Typically these types of products are essential for the production process, but can be difficult to obtain. 

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Simply put, direct materials tend to have a very high impact to a business. Often I find that they are the core of the business and fall into either being;

The main ingredient - The core material of a product
The differentiator - The Major Selling Point (MSP) 
The market edge - The Unique Selling Point (USP)

Therefore when considering direct materials sourcing you need to consider how it may affect your production as a whole especially in the case of the long-term strategy and risks involved.

But what can you do?

In these situations you can aim to work closely with the vendors to improve relationships and develop partnerships, create a buffer stock or lower the complexity of the product. By doing this you can work to make the material more competitive to source and potentially broaden your supplier market. This may soften any issues that your sole vendor presents and bringing in a healthy competition to your incumbent supplier.

There are many other strategies that can also be used. However, the start for all of them is to identify what is a ‘Direct Material’ and understand that they should be treated or strategized as such. Awareness of your needs is the first step.

Bruno Alvarez
Procurement Professional - SS&PK
LinkedIn: Bruno Alvarez

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!

Thursday, 15 September 2016

Supply Management Awards 2016 - congrats to Odesma!

It is with a fuzzy head that I am writing this blog to commemorate the fantastic evening that we enjoyed at the Supply Management Awards courtesy of our consultancy partner Odesma  

Odesma were rightly shortlisted for "Best Procurement Consultancy Project of the Year" for the fantastic work their team did with Aggreko over the past 12 or so months. Considering how early Odesma is on their own journey, it's an amazing achievement, particularly as they faced tough competition with Efficio and Jaguar Land Rover.


...they won!!! Nick Ford, one of the Directors of Odesma pictured holding the award above, made the comparison between them winning the award and Leicester City Football Club winning the Premier League last season - if only I had taken a bet! 

A huge proportion of the success was of course down to the incredible team of experts that were rapidly assembled to deliver the project, a few of which were able to make it on the night to join comedian Ed Byrne on the stage.  

Ed Byrne was pretty good actually, making some oft-heard jibes at us Procurement folk for cost cutting such as not turning the Air Con on for the enormous room that held over 1000 of us.  He also called out the Heathrow Airport table for wanting to expand into the neighbouring tables! 

Anyhow, back to the celebration:

(the plastic object in the middle is the award, not a bottle of Vodka!)

We also felt special to be a part of this as we got a call-out in this winning project for the "use of a cutting-edge eSourcing tool". More of that to follow at our seminar at eWorld later this month.   

There was also a band with a cracking singer, provoking plenty of Dad dancing - I won't name names!  

I'll leave you with one more photo from the evening, most likely snapped once most of the champagne had been consumed!

A huge thank you to Ed, Nick & Steve of Odesma for inviting us to join in their revelry, and to all the guests on the table that helped make it such an enjoyable evening.

Congratulations once more and look forward to what may transpire in the next 12 months! 

Market Dojo helps procurement professionals negotiate better with our on-demand eSourcing tools. If you’d like to find out more, get in touch or register for free and play around with our software for yourself!