“Purchasing has always been finally responsible for quality, cost, and delivery, but with some of the global challenges we’ve had in the last five years, purchasing has mutated into supply chain, and we have taken over a lot of those responsibilities.” - Stephen Tonks, Chief Supply Chain Officer, Fujikura Automotive Europe
Procurement and supply chain are usually designated as two separate functions within organizations, each with different lines of reporting and operational structures. As procurement’s role has evolved and the value they bring to the business has expanded beyond sourcing or cost and into strategy, purchasing and supply chain are becoming more intertwined than ever before.
To understand the relationship between purchasing and supply chain and what this means for the evolving role of procurement as a key strategic partner and relationship facilitator for the business, Philip Ideson spoke with Stephen Tonks, Chief Supply Chain Officer at Fujikura Automotive Europe.
Stephen emphasizes the importance of purchasing and supply chain being constantly aligned and focused on the overall goals, challenges, and needs of the business as a whole.
In this episode, he discusses:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“The most successful procurement teams have a strong ability to articulate what they’re doing in the context of overall business objectives.” - Aaron Addicoat, Senior Manager at Deloitte
We live and work in a time characterized by global supply chain disruptions, inflationary conditions, the pandemic, and a war for talent. As a result, procurement has come under increasing pressure to “do more with less,” and deliver value in areas where they have not traditionally made direct contributions.
To better understand the evolving nature of procurement and, in particular, what distinguishes the highest performing teams or, “Orchestrators of Value,” from the rest of the pack, Deloitte made this the focus of their 2023 Global Chief Procurement Officer survey.
Philip Ideson recently spoke with Aaron Addicoat, Senior Manager, and Ryan Flynn, Principal, both from Deloitte, about Orchestrators of Value and how procurement teams can adapt their strategies to increase performance and drive more impact.
In the episode, Aaron and Ryan discuss:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“Today, if we’re recruiting fresh talent, the right resource pool is not available. That talent incubation is not happening, which primarily means we need universities recognizing procurement as a discipline and making sure that individuals acquire a certain level of skills and are ready to be injected into the corporate setup.” - Nishish Saxena, Head of Terminals Procurement, India and Middle East, Maersk
For years now, procurement has often been seen as a back-office function responsible for finding and managing suppliers and cutting costs, and not as a strategic superpower that can support the overall goals and growth of the entire business.
In part, procurement’s ‘perception problem’ and reputation as an undervalued and misunderstood function has to do with the way talent is, or isn’t, developed and how a lack of institutional and educational support is doing a collective disservice to procurement leaders and the discipline as a whole.
Philip Ideson recently spoke with Nishish Saxena, Head of Terminals Procurement, India and Middle East, at Maersk, about his personal views on why procurement is so often undervalued as a strategic partner.
In this episode, they discuss:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.
In this fourth and final episode in the series, Philip Ideson speaks with Clive R. Heal, Founder and CEO, and Bill Michels, Chief Commercial Officer, both from LavenirAI, to bring all the concepts discussed in the series together and consider the overall impact AI is and will have in shaping the future of procurement.
Key topics include:
Links:
In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.
In the third episode, Philip Ideson is joined by Bill Michels, Chief Commercial Officer at LavenirAI, to talk about how procurement can leverage automation to be more successful.
Key topics include:
Links:
In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.
In this second episode, Philip Ideson is joined by Bill Michels, Chief Commercial Officer at LavenirAI, to discuss the impact of automation on procurement and how procurement needs to adapt their skills to thrive in an increasingly automated, AI-powered world.
Key topics include:
Links:
In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.
In this first episode, Philip is joined by Clive R. Heal, Founder and CEO at LavenirAI, to explore what the procurement metaverse is, how to leverage it, and the transformational impact it is already having on procurement today.
Key topics include:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“We have the opportunity to do more, to shape the role of the procurement, shape the expectations that the C-suite has of procurement, define what procurement can do, and link that to the other capabilities that procurement has. That’s what a good procurement roadmap should do.” - Len Prokopets, Managing Director, Procurement and Outsourcing Advisory at KPMG
Procurement has experienced unprecedented change and disruption in the past several years. Procurement operating models and priorities continue to evolve as new trends take hold, including economic turmoil, ESG, supply disruptions, shifting workforce dynamics, new regulatory requirements, and technology innovations such as generative AI.
Procurement must navigate these changes to help the broader organization adapt, innovate, and deliver.
To help their clients understand this changing environment and benchmark their strategies and investment priorities, KPMG recently conducted a survey of 400 global procurement leaders. The study captured insights on procurement’s current challenges, goals, and priorities as well as the path forward.
In this episode, based on an AOP Live session, Dipan Karumsi, Principal and Leader of Procurement and Outsourcing Advisory at KPMG, and Len Prokopets, Managing Director, Procurement and Outsourcing Advisory, discuss key market insights from the survey with Philip Ideson and Kelly Barner.
Their guidance for forward-looking procurement leaders includes:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“It's important for providers to understand it’s not just about providing technology, but a solution that actually drives value. They have a responsibility to ensure that the implementation and adoption go well because it has a long-term effect.” - Chris Sawchuk, Principal and Global Procurement Advisory Practice Leader at The Hackett Group
Evaluating P2P solution providers can be challenging, but it is critical for procurement to tailor how they assess and select their solutions to the specific needs and expectations of their stakeholders. Procurement should look for solution providers that fit into ongoing transformation initiatives and align with their organization’s maturity level while also relying on data-driven benchmarking to evaluate their best options.
Philip Ideson recently spoke with Andy Warzecha, Principal and Chief Market Intelligence Officer, Christopher Sawchuk, Principal and Global Procurement Advisory Practice Leader, and Rick Gardner, Director, from The Hackett Group. They discussed how procurement can implement The Hackett Value Matrix to create new opportunities for innovation and improvement.
In this conversation they address:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“Developing trustworthy and reliable suppliers is critical to your business, and maintaining those relationships is beneficial to the organization as a whole.” - Saurabh Mehta, Chief Revenue Officer and Managing Partner of Ops and Performance at Consus Global
Developing strong supplier relationships can have a profound impact on the overall health of a business and it is one of procurement’s most critical responsibilities.
While a certain subset of suppliers may fulfill a tactical role, others have the potential to be true collaborators alongside procurement in driving value for the business - if procurement can undergo a mindset shift in the way they think about, approach, value, and measure supplier relationships.
In this episode, based on an Art of Procurement webinar, Kelly Barner explores this mindset shift with Saurabh Mehta, Chief Revenue Officer and Managing Partner of Ops and Performance, and Manish Agarwal, Vice President of Supply Chain, both from Consus Global.
In the episode, they discuss:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“You need to know your suppliers, what they can and what they can’t do, and what they’re ready to do on top of the relationship you have every day. In an unstable supply chain, you need to invent new rules.” - Olivier Berrouiguet, President & CEO, Synertrade
The increasing complexity and volatility in the global supply chain is putting more pressure on procurement to level up their approach to risk management. But resource-constrained teams and a varied network of stakeholders with different understandings of “risk” means procurement has to work smarter, not harder, to be successful.
Philip Ideson recently spoke with Olivier Berrouiguet, President and CEO of Synertrade, to get his perspective on how procurement can improve their approach to third party risk management and, perhaps most importantly, how they can adjust their strategy to meet the needs of the moment, which is increasingly defined by instability, risk, and disruption.
In this podcast episode, Philip and Olivier discuss:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“If you want to be successful in what you do personally or professionally, you’ve got to manage relationships because the show goes on. You need strong relationships with contractors and suppliers that you know can deliver.” - Matt Mehler, President of PROcurement Solutions
Have you ever wondered what it is like to manage procurement for a large, high-profile venue? According to Matt Mehler, former VP of Procurement for Madison Square Garden, it’s exciting, but there’s also a tremendous amount of pressure.
Madison Square Garden is a large corporate entity that hosts hundreds of sporting and entertainment events per year, welcoming millions of people to its facilities, which also include entertainment venues off site and even in other cities.
In this podcast episode, the opening session of Categorypalooza 2023, Kelly Barner interviews Matt about the complexities and challenges that come along with managing procurement for a large venue with many different types of services.
They discuss topics like:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“When you can demonstrate short-term success and communicate it – both inside and outside the company – it helps to smooth the pathway to the funding, staffing, and commitment required for longer-term impactful change.” – Lois Eichacker, VP of Customer Success, Supplier.io
Supplier diversity is one of the most meaningful, impactful, and important corporate programs led by procurement, and a growing number of organizations are making supplier diversity a top priority. But creating a scalable supplier diversity program that can grow with the business, withstand changing political and economic landscapes, and sustain itself over time requires a unique set of strategies and tactics.
To better understand how procurement can build a strong supplier diversity program, Philip Ideson and Kelly Barner spoke with Daniel Dorr, VP of Marketing, and Lois Eichacker, VP of Customer Success, both from Supplier.io. As Daniel and Lois shared, a solid supplier diversity program is characterized by transparency, clear communication of expectations, and data-driven decision making.
In this episode, based on an AOP Live session, Daniel and Lois discuss:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.
“Services are relationship-based from a procurement perspective, whether that means the relationship procurement needs to have with the business to be successful or the relationship the company has with the service provider.” - Philip Ideson.
This week’s episode of the podcast provides a behind the scenes look at Art of Procurement’s ongoing research into services procurement - research that everyone in our listening audience and social following is encouraged to participate in.
Management of services categories has changed substantially in recent years, driven by the rise of contract work, freelancing, and contingent labor. With an increasing number of professionals working remotely, the barriers to accessing external talent are undergoing yet another adjustment.
In this conversation, Philip Ideson and Kelly Barner talk through some of the data points that form the core of the survey, sharing their perspective on the business outcomes and procurement processes in question.
Procurement organizations in all industries and geographies will want to benchmark themselves against the following themes covered in the survey, which only takes 5-7 minutes to complete:
Links:
Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.
Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.
Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.