The authors of Supply Market Intelligence for Procurement Professionals are committed to continually build on the content presented in ProcureSearch, a resources hub based on the book with listings that identify and update selected resources for key direct and indirect spend categories, along with supplier and geopolitical risk discovery, due diligence, and monitoring sources. Here are the most recent additions:
Supplier Diligence and Risk
Dow Jones Risk and Compliance/Factiva
Use for: supplier due diligence, third party risk management and regulatory compliance
Dow Jones Risk and Compliance provides research tools and services for on-boarding, vetting, and mitigating third party risk. Two key offerings of their suite of compliance solutions are RiskReports, which identify legal, regulatory and reputational issues using open source research, and Dow Jones Factiva to help accurately assess risk levels; and RiskCenter, which centralizes case management. Factiva is a global news database of nearly 33,000 premium sources. Its origins start with Dow Jones News/Retrieval, an early pioneer in providing online access to business news information.
Use for: third party risk management, compliance, and aggregated business information on suppliers
Opus, formed in 2013, is a compliance and risk management provider. Its highly rated third-party risk management solution, Hiperos 3PM, provides a consolidated view of third parties throughout the relationship lifecycle, from planning to onboarding to ongoing monitoring through termination. In 2014, Opus acquired Alacra and added Anti-Money Laundering, Know Your Customer/Vendor and entity data management capabilities to its platform. The Alacra business information online store helps you find rating agency credit research, earnings call transcripts, D&B and Experian reports and market research from dozens of publishers where you pay for only what you what you need.
Use for: supplier integrity due diligence, supplier risk management and monitoring
The Red Flag Group is a business advisory, information services, and software technology firm that helps corporations manage integrity and compliance of third parties. They are known for their high quality due diligence reports and partner with LexisNexis to provide outsourced due-diligence investigations. The company launched in Hong Kong in 2007 and has offices in the US, China, Central America, the Middle East and Europe. It offers solutions to manage integrity and compliance risks in supply chains that include conducting reviews, audit and investigations, identifying potential supplier risks for prospective and existing suppliers, and monitoring active suppliers.
Multi-Inclusive Market
Use for: open access category intelligence and supplier reviews (a recent offering)
In February 2017 Beroe launched its free on-demand procurement/market intelligence platform. The platform covers over 260 direct and indirect categories and each Category Intelligence report covers the following:
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
Beroe LiVE allows you to interact with peer communities and participate in discussions and polls about the intelligence offered. Beroe LiVE now offers supplier reviews where free access to unbiased ratings on over 25,000 suppliers, rated by over 20,000 procurement professionals is provided. Beroe is a provider of procurement intelligence and offers services specializing in sourcing, supply chain visibility, financial risk analysis, and environmental impact.
Use for: supplier identification and research, market trend analytics, track industries, people, companies, and investors
Like CB Insights, Crunchbase is a popular company database used for innovation discovery. It offers free information and Enterprise and Pro versions that allow for advanced searching, market trend analytics, and the ability to track industries, people, companies, and investors. In a move to help accelerate their “vision to become the single source of truth about companies on the internet,” Crunchbase recently announced the launch of Crunchbase Marketplace, an app store that gives users the ability to add additional best-in-class data directly from other data providers.
Use for: category intelligence, commodity price risk, supplier management, supply chain risk monitoring
Started in 2003, The Smart Cube primarily serves the CPG, Energy and Chemicals, Financial Services, Industrials, Life Sciences and Retail sectors. Its Procurement and Supply Chain Solutions offerings include Category Excellence, Commodity Volatility, Supply Chain Analytics, and Supplier Engagement. They are headquartered in the UK with additional offices in the USA, Switzerland, Romania and India. The Smart Cube recently launched Smart Risk, a bespoke, real-time supply chain risk solution that monitors and reports on a broad spectrum of risk categories – including financial, operational, compliance, strategic and country risk.
Procurement Professional Associations
National Association of Educational Procurement (NAEP)
Started in the 1920’s, NAEP is a non-profit professional association primarily dedicated to serving higher education purchasing officers in the U.S. and Canada, with over 1,000 colleges and universities as members. NAEP provides progressive knowledge management in strategic sourcing, supply chain, materials and logistics for procurement professionals. National, regional, and specific interest exchanges provide communication vehicles for members. Publications include Educational Procurement Journal, NAEP Pulse, and the blog Purchasing Link.
Universal Public Procurement Certification Council (UPPCC)
The Universal Public Procurement Certification Council (UPPCC) is an independent entity formed to govern and administer the Certified Public Procurement Officer (CPPO) and Certified Professional Public Buyer (CPPB) certification programs. To date, the UPPCC has certified over 10,000 professionals primarily within the US and Canada, but in other nations around the globe. The UPPCC programs are designed specifically for government procurement professionals and only those individuals who have government specific procurement experience are eligible.
