In today’s economy, spending your money wisely is extremely important. Obtaining value in the process is not only important, but essential. E-commerce purchasing begins with a buyer’s request for information or a request for quotation or proposal. But finding the lowest total cost and the best overall customer experience from the perfect supplier, for the products and services required, is much more than initiating requests to three prospective sellers.
A “Ten D” structured, acquisition model can help deliver targeted results. Its features include bringing risk into focus and managing it; generating savings and maximizing operating profits; improving sustainability of process, of personnel, of the business and of the environment; and facilitating ongoing initiatives and innovation toward future product or service improvements in function, quality and cost.
- DEVELOP plans for and then execute each of the following model segments.
- Accumulate DATA at the line item detail level consistently, as the transaction unfolds, forever.
- Facilitate DISCOVERY of trends, failures, successes and opportunities within the data religiously.
- Report and analyze the strategic or tactical alternative DIRECTION(S) the data discovery suggests.
- Summarize the DELIVERABLES targeted, qualified and quantified for each direction taken (Quality & Repeating Ability, Commercial Terms & Pricing, Delivery & Lead Time, Service(s) & Efficiency, Sustainability and Future Business Expectations & Impacts).
- Initiate the DEPLOYMENT of selected resources, across a broad spectrum of leadership (executive sponsorship, specific management, cross-functional teaming and internal / external support personnel), to realize the deliverables.
- Ensure structured DISCIPLINE is required of and followed by the deployed resources (across the team, the business, a group, an enterprise).
- Model and support DETERMINATION from the deployed resources to see the process to conclusion (overcoming barriers, leveraging enablers and managing scope).
- Expect DEDICATION (professional and personal) from the deployed resources to ensure that data, discovery, directions, deployment, discipline and determination deliver creativity, innovation and documented, consistent, expected results.
- Prepare and carry out periodic DEBRIEFINGS to all stakeholders, summarizing actions and efforts, reviewing measures and results, identifying and initiating course corrections and/or specific corrective actions, and looking over ongoing routines for improvements or discovering future opportunities and projects from the newest, latest round of data.
So, we see that a few key ingredients permeate the “Ten D” model. First, DATA is crucially important to the success of this model and quite frankly any other “spending money wisely” model. Accumulating data is best captured as each transaction unfolds and best leveraged with ongoing reviews and measures. Second, the quality of the leadership and the personnel selected for DEPLOYMENT are essential. Human resources should be selected carefully and have well-defined, stretched result expectations. They must be strategically and tactically supported and be exposed to exciting, future employment opportunities. Third, an environment of innovation and creativity must be present, fortified with excellent experience and knowledge and sprinkled with enthusiastic, just get-it-done energy and drive to achieve the DELIVERABLES.
A common foundation supporting the use of any “spending money wisely” process is the availability of an inexpensive, paperless, comprehensive, flexible, secure and easy-to-use software application. Whether the business is a start-up, a micro-business, an SMB (small or medium sized business), a larger company, a corporation, a global enterprise, a non-profit, a governmental entity or an everyday consumer, reasonably priced access to a personalized online trading platform is fundamental for success.
The software should facilitate quickly connecting buyers and suppliers or sellers; allowing 360 degree ongoing interaction(s); processing requests, offers, purchase order placements and contracts; capturing and presenting back 100 % of executed transaction content; tracking mutual compliance and performance; and executing timely payment settlements.