About one year ago I wrote about a common problem in the legal profession—overbilling—as a prime example of the Activity Trap. It was a frightening example of “billable hours” gone bad and becoming a perverse incentive at a major law firm. So I was really pleased to read an article in the ABA Journal about […]
Getting What You Pay For
Whether you’re at the shopping mall or negotiating a contract, there’s no truer saying than “you get what you pay for.” But even more important are some related questions, like “Do you really know what you are paying for?” and “Do you know why and how you are paying for what you are getting?” That’s […]
Going “All-In” on Innovation
If you are taking a low-risk approach when it comes to innovation, you may not be doing much innovation that’s truly worthwhile. It’s an interesting take on innovation – and one that was shared in this Industry Week article, “Innovation: The High Cost of Low Risk.” The article takes the stance that “not all innovation […]
Driving Change in a Procurement Organization
In my last blog, I noted that change is never easy. Attempting to drive change in a procurement organization is no different. Mickey North Rizza, VP of Strategic Services at BravoSolution, recently outlined the challenges in a Procurement Leaders blog post, “Five Reasons Why Procurement Transformation Fails.” “Procurement processes have stayed the same for years […]
Dealing with Change
Change is never easy and putting together a successful change management strategy can be even more difficult. Come to think of it, the concept itself seems an oxymoron—how do you manage change management? Barbara Munyan Ardell, VP at Paladin Associates, Inc., underscored the sheer difficulty of organizational change efforts in a post for Checkmate Blog: “Research actually shows […]
Dell’s Vested Vision: A “Legacy of Good”
A major corporate sustainability report from Dell contains some highly Vested ideas advocated by the company’s Chairman and CEO, Michael Dell. Dell’s 2020 Legacy of Good Plan—released late last year—is ambitious, realistic and philosophically consistent as it attempts to forge a long-term, multi-dimensional culture of sustainability both within the company and with its suppliers. “We […]
The Riddle of Experience versus Memory
I’ve written about the Nobel laureate Daniel Kahneman and his groundbreaking work on cognitive biases and behavioral economics both here and more recently in my regular column for Outsource Magazine—but I wanted to share a TED video of his in which he talks about how our “experiencing selves” and our “remembering selves” perceive happiness differently. Kahneman, professor emeritus of Psychology at […]
Big Data is a Big Trend
In a recent post I touched upon Big Data as a bona-fide, long-term megatrend in the logistics space. Actually it is megatrend in every industry sector. Michael Lewis popularized the concept of using Big Data to create a competitive advantage in the best-selling book (and subsequent movie) Moneyball. We know how Big Data is used […]
Megatrends in the Future of Logistics
Earlier this year I came across the annual Material Handling & Logistics U.S. Roadmap, which focuses on long-term predictions—out to 2025!—with a focus on the “megatrends” that will transform logistics. The 67-page report compiles what more than 100 industry thought-leaders had to say about the future in this particular sector, and how it will need […]
Seeking a Long-Term Fix? Try a Partnership
Forever is a really long time, so the notion of FIF, or Fix it Forever, seems impossible, but apparently this could be one of those new business terms that’s coming into vogue now. A good case in point came from a procurement professional from a Fortune 500 company who was brought in solve a “broken” outsourcing […]
