{"id":27136,"date":"2016-04-22T10:00:23","date_gmt":"2016-04-22T15:00:23","guid":{"rendered":"https:\/\/simfoni.com\/?p=27136"},"modified":"2025-02-10T08:47:20","modified_gmt":"2025-02-10T13:47:20","slug":"properly-manage-tail-spend","status":"publish","type":"post","link":"https:\/\/simfoni.com\/tail-spend\/properly-manage-tail-spend\/","title":{"rendered":"How to Properly Manage Tail Spend."},"content":{"rendered":"<blockquote><p>We are going to turn our attention to manage <a href=\"https:\/\/simfoni.com\/tail-spend-management-guide\/\" data-internallinksmanager029f6b8e52c=\"11\" title=\"Tail Spend\" target=\"_blank\" rel=\"noopener\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/a> in such a way that &ldquo;hidden&rdquo; value is unlocked and costs are reduced using <strong><a href=\"https:\/\/simfoni.com\/tail-spend-management-guide\/\" target=\"_blank\" rel=\"noopener\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Tail Spend<\/span> Automation<\/a>.<\/strong><\/p><\/blockquote>\n<p>In the first four articles in this series, we looked at the following themes:<\/p>\n<ul>\n<li>How committing to better manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> can lead to <span style=\"text-decoration: underline;\">significant <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">cost savings<\/span><\/span><\/li>\n<li><span style=\"text-decoration: underline;\">Identifying a <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> problem<\/span> in your organization and segmenting the affected suppliers and transactions<\/li>\n<li>The relationship between the <span style=\"text-decoration: underline;\">80\/20 (Pareto) rule<\/span>, the &ldquo;long tail&rdquo; of sales and tail <a href=\"https:\/\/simfoni.com\/spend-management-101\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Spend Management\" target=\"_blank\" rel=\"noopener\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">spend management<\/span><\/a><\/li>\n<li>Why it is important to <span style=\"text-decoration: underline;\">prioritize, analyze, and have a system<\/span> to better manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/li>\n<\/ul>\n<p>In this article, the last in the series, we are going to turn our attention to what it takes to manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> in such a way that &ldquo;hidden&rdquo; value is unlocked and costs are reduced. In a way, we are going full circle and returning to the theme in the first article &ndash; with good reason. Saving the organization significant amounts of money should be both the goal and the result of any activity that is focused on how to manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> more efficiently.<\/p>\n<p>On this topic, a piece titled <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.atkearney.com\/documents\/10192\/4372228\/SCMR.TailSpend.pdf\/ef82fe72-67bf-4a23-b75c-f38751f7e20f\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Unlocking the Value of <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Tail Spend<\/span> &ndash; How to boost benefits and efficiency through Advanced Tail Sourcing<\/a><\/span>, by Hendrik Disteldorf, Tobias Fehre, Guttorm Aase, and Mike Piccarreta, published in the <a href=\"https:\/\/simfoni.com\/supply-chain-management\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Supply Chain Management\" target=\"_blank\" rel=\"noopener\">Supply Chain Management<\/a> Review of March\/April 2014 makes for very interesting reading.<\/p>\n<p><strong>Read More:- <a href=\"https:\/\/simfoni.com\/sourcing\/\" target=\"_blank\" rel=\"noopener\">What is Sourcing<\/a><\/strong><\/p>\n<p>In this article, the authors make a few very valid and interesting points; for example, that a <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">spend management<\/span><\/span> framework set up in the business helps unlock value by focusing attention on:<\/p>\n<ul>\n<li>The alignment of internal capabilities, processes and technology to better manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/li>\n<li>Making the <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> more attractive to increase market competition and make pricing more competitive<\/li>\n<\/ul>\n<p>The authors also mention three key considerations to be borne in mind when planning <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> <a href=\"https:\/\/simfoni.com\/sourcing\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Sourcing\" target=\"_blank\" rel=\"noopener\">sourcing<\/a> activities:<\/p>\n<ul>\n<li>Skills<\/li>\n<li>Scoping<\/li>\n<li><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Change management<\/span><\/li>\n<\/ul>\n<p>The following interesting statement is made in the section dealing with skills:<\/p>\n<blockquote><p><em>&ldquo;The skill set required for a tail sourcing specialist is very different than that required for a traditional market-oriented sourcing specialist.&rdquo; <\/em><\/p><\/blockquote>\n<p>This is a viewpoint that some business managers will probably agree with, and others will disagree, believing the skill-set to be identical.<\/p>\n<p><strong>The report also goes on to say:<\/strong><\/p>\n<blockquote><p><em>&ldquo;The specialist is a challenging role to fill internally, as this person will be more junior with less sourcing experience but will require advanced analytical skills. Organizations seeking fast implementation should consider hiring from outside.&rdquo;<\/em><\/p><\/blockquote>\n<p>With respect, we would like to disagree with the authors on this point. Trying to hire an external person in junior role (at a junior salary), that still has the capability and experience to manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> properly and has &ldquo;advanced analytical skills&rdquo; sounds like a near impossibility. It is far better to partially or fully outsource this role.<\/p>\n<p>Possibly, two years ago when this report was written, this option made sense, as mobile <a href=\"https:\/\/simfoni.com\/procurement\/\" target=\"_blank\" rel=\"noopener\"><strong>procurement Technology<\/strong><\/a> systems and services were not as advanced as they are today, but the situation has changed.<\/p>\n<p>Mobile <a href=\"https:\/\/simfoni.com\/procurement\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Procurement\" target=\"_blank\" rel=\"noopener\">procurement<\/a> apps, like Pocket<span class=\"\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Buyer<\/span>&trade;, coupled with service staffed by a team of experienced specialists that manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> purchases on a daily basis, have changed things and given companies more options. Using a self-funding cost-per-transaction service makes much more sense than having a full-time employee dedicated only to <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span> purchases.<\/p>\n<p><em>If you are looking for a simple, no-fuss way to <strong>better manage <a href=\"https:\/\/simfoni.com\/tail-spend-management-guide\/\" target=\"_blank\" rel=\"noopener\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/a> in your organization using <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Tail Spend<\/span> Automation<\/strong>, the Pocket<span class=\"\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Buyer<\/span>&trade; app from Simfoni is the ideal starting point.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We are going to turn our attention to manage <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">tail spend<\/span><\/span> in such a way that &ldquo;hidden&rdquo; value is unlocked and costs are reduced using <span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\"><span class=\"\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Tail Spend<\/span><\/span> Automation. In the first four articles in this series, we looked at the&hellip;<\/p>\n","protected":false},"author":1,"featured_media":27137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[1,442],"tags":[457,458,461,459,460],"class_list":["post-27136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spend-analysis","category-tail-spend","tag-tail-spend","tag-tail-spend-management","tag-tail-spend-software","tag-tail-spend-solutions","tag-tail-spend-technology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How to Properly Manage Tail Spend : Tail Spend Automation<\/title>\n<meta name=\"description\" content=\"We are going to turn our attention to manage tail spend in such a way that \u201chidden\u201d value is unlocked 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