As some of you may know, my husband Jason Busch writes the sourcing blog SpendMatters. In his role as Editor of that blog he invariably gets invited to all sorts of conferences, trade shows, analyst meetings and industry association round table discussions. And as a regular commentator on his blog, Jason drags me along to a few of the local events if he thinks I might find them interesting. So when he mentioned that IACCM (International Association for Contract and Commercial Management) and the affable Tim Cummins would discuss The Future of Contracting, I thought well, this ought to be interesting.
Now just to clarify, I don’t care to spend my morning with a bunch of attorneys discussing the pros and cons of indemnity clauses mind you, but this group included a nice mix of contract managers, negotiation consultants, sourcing directors and of course, attorneys. And the conversation covered several interesting topics including the future of global contracts given the current economic environment as well as reference to a study put on by IACCM examining the “most admired companies from a negotiation stand-point. Tim Cummins, the President and CEO of the organization, shared with us a “sneak peak of the Top 10 companies from a sell side perspective as well as a Top 10 list of companies from a buy-side perspective. We promise not to give away the survey results as they have not yet been released publicly. But what we can tell you is that 7/10 companies listed on the buy-side list of “2009 Negotiation Most Admired are also in MetalMiner’s top 100 visitors! By the way, some of the parameters used to judge the companies included: flexibility, degree of preparation for negotiations, rapid response, team player mentality and more controversially “get their way. (Companies who made the list scored low on that last point)
So what you might say? Actually, the results should not come as a surprise to us. Here are my conclusions on what it tells us:
- Good buying organizations, the ones companies want to be selling to do their homework and seek out relevant information frequently (including information on global metals markets)
- One would expect the Most Admired to come from multiple industries and they do (e.g. high tech to aerospace to consulting to oil and gas) however, we would not have expected to see that same type of mix among top MetalMiner readers (particularly the high-tech companies even though they buy metal)
- Last, not only are many of those companies reading MetalMiner, they are also subscribers to the MetalMiner IndX(SM) which we hope will one day serve as a contracting tool for well, negotiations!
IACCM will likely draw many more conclusions once they go public with the survey results. We’ll cover the findings here too.