“The single source of truth is a myth. It will never exist. CPOs should learn to live without it like sellers & marketers do. Eg different buyers, rating agencies, & communities rate a supplier’s reliability differently. You’re not 100% sure that news item about unethical behaviour refers to your similarly named supplier.” – Duncan Jones (October 25th, 2023)
Duncan Jones always has something worthwhile and insightful to contribute to any discussion stream on LinkedIn. While suggesting that the Single Source of Truth concept is a myth, his reasoning is worth considering.
For me, here are my thoughts regarding supplier data intelligence:
Duncan Jones, Two takeaways from your comment:
1. A supplier’s performance should be based solely on their ability to service your organization’s needs – similar to what I did with the DND learning algorithms. I didn’t care how they serviced their other customers. I only cared about their ability to meet my requirements. One competitive advantage the DND had was that they were the only organization at the time to provide a tangible scorecard that they could use to engage further and develop their suppliers.
2. We now do business in a world where buyer metrics have expanded to include factors that extend our need to engage third parties, e.g., ESG factors, diversity factors, etc. – for example, an EcoVadis or Supplier.io, etc. which means the onboarding and ongoing tracking process takes on a dimension of complexity and importance that did not previously exist.
In this new arena of expanding real-time intelligence-gathering tools such as TealBook Certa (getcerta.com), the emergence of intelligent Apps such as AppXtend from Zycus can make a difference for both buyer and supplier.
Of course, companies must have a solid data culture and collaboration foundation before extending their intelligence-gathering capabilities.
Now it’s your turn; is a single source of supplier truth a possibility in today’s highly complex and extended supply networks?
30
Procurement Insights
Is The Single Source of Truth A Myth? Duncan Jones Adds Important Insights Regarding Supplier Intelligence
Posted on October 25, 2023
0
“The single source of truth is a myth. It will never exist. CPOs should learn to live without it like sellers & marketers do. Eg different buyers, rating agencies, & communities rate a supplier’s reliability differently. You’re not 100% sure that news item about unethical behaviour refers to your similarly named supplier.” – Duncan Jones (October 25th, 2023)
Duncan Jones always has something worthwhile and insightful to contribute to any discussion stream on LinkedIn. While suggesting that the Single Source of Truth concept is a myth, his reasoning is worth considering.
For me, here are my thoughts regarding supplier data intelligence:
Duncan Jones, Two takeaways from your comment:
1. A supplier’s performance should be based solely on their ability to service your organization’s needs – similar to what I did with the DND learning algorithms. I didn’t care how they serviced their other customers. I only cared about their ability to meet my requirements. One competitive advantage the DND had was that they were the only organization at the time to provide a tangible scorecard that they could use to engage further and develop their suppliers.
2. We now do business in a world where buyer metrics have expanded to include factors that extend our need to engage third parties, e.g., ESG factors, diversity factors, etc. – for example, an EcoVadis or Supplier.io, etc. which means the onboarding and ongoing tracking process takes on a dimension of complexity and importance that did not previously exist.
In this new arena of expanding real-time intelligence-gathering tools such as TealBook Certa (getcerta.com), the emergence of intelligent Apps such as AppXtend from Zycus can make a difference for both buyer and supplier.
Of course, companies must have a solid data culture and collaboration foundation before extending their intelligence-gathering capabilities.
Now it’s your turn; is a single source of supplier truth a possibility in today’s highly complex and extended supply networks?
30
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