{"id":2561,"date":"2008-10-29T13:58:00","date_gmt":"2008-10-29T13:58:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2008\/10\/29\/whitepaper-wednesday-critical-procurement-information-requirements\/"},"modified":"2023-06-26T06:50:33","modified_gmt":"2023-06-26T10:50:33","slug":"whitepaper-wednesday-critical-procurement-information-requirements","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-critical-procurement-information-requirements\/","title":{"rendered":"Whitepaper Wednesday &#8211; Critical Procurement Information Requirements"},"content":{"rendered":"<p>I recently came across a whitepaper called \u201cGreat Expectations\u201d from Oracle. Well, a procurement whitepaper from Oracle didn\u2019t exactly have my expectations high for the value of the content.<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>Sometimes, when I\u2019m reading these whitepapers, my eyes start to glaze over because the authors try to tell CPO such basic, basic stuff about the procurement process and priorities. If the reader is already a CPO, chances are that they know about bundling demand across functions and consolidating suppliers. This whitepaper began with that familiar formula, although I must say that Oracle did a good job of describing core procurement activities in perhaps the most concise manner I\u2019ve ever seen.<\/p>\n<p>But the nugget of true value that I saw in this whitepaper was the section entitled \u201cCritical Info Requirements Explode.\u201d This section listed out many of the key types of information that CPO\u2019s need to make sure are available to their people, such as:<\/p>\n<ul>\n<li>Total spend<\/li>\n<li>Contract compliance<\/li>\n<li>Business process compliance<\/li>\n<li>Procurement effectiveness<\/li>\n<li>Procurement efficiency<\/li>\n<li>Supplier performance<\/li>\n<li>Sourcing compliance<\/li>\n<li>Competitive intelligence<\/li>\n<li>Supply base intelligence<\/li>\n<li>Supply chain intelligence<\/li>\n<\/ul>\n<p>The whitepaper elaborates on what is included in each information type. I didn\u2019t want to steal the whitepaper\u2019s thunder by including that here, but you can download the whitepaper to read it for yourself.<\/p>\n<p>Now, based on my working with procurement groups, a listing like this is welcome. Information \u2013 good information \u2013 is the key to effective strategy setting and execution. But with so many types of information available, it can be difficult to know everything you need and to plan for how you will get it. Oracle does a good job of putting most of the key information requirements in one place so a CPO can develop a more comprehensive plan on getting the information s\/he needs to deliver results.<\/p>\n<p><strong>Recommended Reading<\/strong><\/p>\n<p><a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/thomasnets-purchasing-tools\/\" aria-label=\"\u201cThomasNet\u2019s Purchasing Tools\u201d (Edit)\">ThomasNet\u2019s Purchasing Tools<\/a><\/p>\n<p><a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-mro-procurement\/\" aria-label=\"\u201cWhitepaper Wednesday \u2013 MRO Procurement\u201d (Edit)\">Whitepaper Wednesday \u2013 MRO Procurement<\/a><\/p>\n<p><a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/how-will-the-next-us-president-improve-government-purchasing\/\" aria-label=\"\u201cHow Will The Next US President Improve Government Purchasing?\u201d (Edit)\">How Will The Next US President Improve Government Purchasing?<\/a><\/p>\n<p><a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-procurement-outsourcing\/\" aria-label=\"\u201cWhitepaper Wednesday \u2013 Procurement Outsourcing\u201d (Edit)\">Whitepaper Wednesday \u2013 Procurement Outsourcing<\/a><\/p>\n<p><a class=\"row-title\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/calculating-inventory-carrying-costs\/\" aria-label=\"\u201cCalculating Inventory Carrying Costs\u201d (Edit)\">Calculating Inventory Carrying Costs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I recently came across a whitepaper called \u201cGreat Expectations\u201d from [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":3993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Whitepaper Wednesday - Critical Procurement Information Requirements - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-critical-procurement-information-requirements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whitepaper Wednesday - Critical Procurement Information Requirements\" \/>\n<meta property=\"og:description\" content=\"I recently came across a whitepaper called \u201cGreat Expectations\u201d from [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-critical-procurement-information-requirements\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2008-10-29T13:58:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-26T10:50:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-003.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-critical-procurement-information-requirements\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-critical-procurement-information-requirements\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Whitepaper Wednesday &#8211; 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