Listening to Coldplay’s “Viva La Vida” (song and lyrics here) brings together a number of thoughts about how we deal with ourselves and each other, both in our personal and business relationships. Specifically, I’m thinking about the need for cooperation, self-knowledge and the absolute necessity for honesty. It’s a great song with a great beat […]
win-win
A Nobel Laureate Who Says Globalization Needs Fixing
For the most part the economics of outsourcing series has examined the big thinkers in economics who have influenced the development of modern outsourcing. Today I’ll put the focus on Joseph E. Stiglitz, whose work has the power to influence how companies think about globalization. Joseph E. Stiglitz, a professor at Columbia University, received the […]
Psychology of Outsourcing, Part 8: Thomas D. Gilovich, Decisions and Behavioral Economics
Many of the mistakes we make when outsourcing stem from a failure to recognize and account for the psychology that surrounds decision-making. Then businesses compound the problem by using poor judgment when reacting to the results of those decisions. Psychologist Thomas D. Gilovich (born 1954) is a professor of psychology at Cornell University who has researched […]
Tweaking the Kraljic Model
More than 25 years ago Peter Kraljic published his seminal “portfolio purchasing model,” which has been both a widely critiqued and widely accepted method for assessing procurement demand, risk and profit factors for supply chains. The model distinguishes among four product categories: leverage items, strategic items, noncritical items, and bottleneck items. My take on the […]
Does Sheen Give “Winning” a Bad Name?
Yesterday I was working with a client to develop a workshop they have asked me to facilitate in order to help them turn their existing relationship into a high gear, highly collaborative Vested relationship. I came up with a title for the workshop that included the word “winning.” My client asked me to take out […]
Consider the Outsourcing “Not” List
Most people in this industry, me included, tend to write about what outsourcing is, or should be. That’s a natural and normal approach, especially as we develop concepts and systems and the right way to outsource—such as (ahem) the Vested Outsourcing way! But sometimes looking through the other end of the lens can bring a […]
Outsourcing, Trust and Stewardship Delegation
Sometimes it is worthwhile to go back to the future—especially when it comes to pulling Stephen R. Covey’s, The 7 habits of Highly Effective People, off the shelf for a quick review. Covey’s classic bestseller on personal effectiveness, published in 1989, has huge lessons for business and leadership effectiveness; it also has great resonance for […]
Outsourcing T&Cs Can Cost You!
The old adage about being careful what you ask for applies to contract terms and conditions in spades: you may think you are properly protecting an outsourcing arrangement and insulating it from risk, but the flip side is that numerous T&Cs mean more costs that eat away at profits. Copious, onerous and (often) unnecessary T&Cs […]
University of Tennessee/Vested Recognized for Academic Advancement
Recognition for groundbreaking work from the peers in our industry, namely from the Supply Chain Council this week, is both a wonderful honor and also great challenge. SCC announced the winners of the 2011 North American Supply Chain Excellence Awards at the annual Supply Chain World conference in Baltimore. There are three award categories, operational […]
Scrap the Purchase Order Mentality
Don’t mistake a transaction, even a friendly and efficient transaction, as true collaboration. If someone arranges to purchase widgets from a widget-maker that’s the essence of the make-buy decision but it’s not the crowning achievement of a real partnership. Or as Ben Gomes-Casseres puts it, “a partnership is not a purchase order.” Writing this week […]
