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Art of Procurement

Learn from Procurement Experts. Host Philip Ideson talks with thought leaders who share the trends, strategies and tactics that you can lever to elevate the role of procurement - and your career.
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Art of Procurement
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Now displaying: January, 2024
Jan 29, 2024

“There is this misconception that procurement pros are paper-pushers – that we are not strategic, or we are not business partners – and we are just there to move things from one place to another.” - KR Barron, Principal Product Marketing Manager at Productiv

Sourcing and purchasing software, especially SaaS solutions, is often a source of major friction for procurement. Tight timelines, complex stakeholder networks, difficult collaborations, and entrenched misconceptions can lead to missed opportunities not only for procurement but for the business as a whole. Fortunately, many of the challenges associated with software purchasing are rooted in commonly held myths that, when looked at more closely, are easily busted, paving the way for procurement to elevate their role in the process. 

In this episode, based on an AOP Live Session, Philip Ideson and Kelly Barner engage in some much-needed myth-busting with Aubrey Zimmerman, Procurement Analyst at Lattice, and KR Barron, Principal Product Marketing Manager at Productiv. They also share insights from recent research on software procurement that explores how procurement can simplify software decisioning and better align with the business. 

In this episode, they discuss:

  • Common myths surrounding procurement’s role in software purchasing and how these myths can negatively impact the business as a whole
  • How procurement can build a single source of truth for software decisioning and utilization
  • How procurement can start to change negative perceptions about the role they play in software purchasing and demonstrate their full value

Links:

Jan 26, 2024

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.

Jan 22, 2024

“In procurement, we have a perception of the world we’re in, and we put boundaries around ourselves. But we have to explore beyond those boundaries and think about what we can do that will be different and better.” - Stephen Ashcroft

A seismic shift is underway in procurement. Teams are adapting to a rapidly changing global business landscape and new technological realities. The best procurement leaders will take advantage of this transformational period to develop new strategies, tactics, and tools that will elevate their impact and position procurement as an invaluable partner for the business.

In this episode, Philip Ideson goes one-on-one for a second time with global procurement thought leader, entrepreneur, and influencer Stephen Ashcroft, founder of the innovative new procurement professional development program Map & Territory. Steve, the former Head of Procurement for the African Development Bank, shares the greatest lessons he learned from his procurement experience in over 40 countries.

They discuss: 

  • The 3 most valuable skills every procurement leader needs to succeed today
  • Where procurement is most underrated, and how to turn that around
  • How a different approach to professional development and community building, like Map & Territory, can help procurement rise and adapt to new global realities 

Links:

 

Jan 19, 2024

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.

Jan 15, 2024

“Once you have clean data, it becomes a business asset. You can now answer questions from it. When it’s sitting there in a data swamp – it’s not even a data lake – you cannot leverage any type of insights from it.” - Robert Birch, Director, Data & Analytics, SpendHQ

Without a strong foundation of reliable, clean, and accessible data, it is difficult for procurement to achieve and sustain success, and it may also expose the business to increased risk, waste, and missed opportunities. 

Data underpins every decision procurement makes, and it should never be an afterthought. So how should procurement approach some of their most common data quality problems, and what kind of resources and approaches do they need to create the ideal data environment that will support differentiated decision making? 

To answer these questions and more around procurement’s complicated relationship with data, Philip Ideson recently spoke with Andy Moir, Director of Product Marketing, Mitchell Couper, Vice President Delivery and Business Intelligence, Robert Birch, Director, Data and Analytics, all from SpendHQ.

In this episode, they discuss:

  • The importance of prioritizing, improving, and maintaining data quality
  • Assessing your data maturity and the value of data enrichment
  • Where AI can (and can’t) support data hygiene and management

Links:

 

Jan 12, 2024

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.

Jan 8, 2024

“If procurement wants to have an outsized impact, they need to provide value in a way that alters how decision making happens.” - Philip Ideson, Founder and Managing Director of Art of Procurement

In this episode, Philip Ideson, Founder and CEO of Art of Procurement, welcomes the procurement community into 2024 by continuing an annual tradition of sharing his perspective on the most important issues, challenges, and opportunities procurement is likely to face in the new year.  

Technologies like AI are now changing the face of the profession we love and today’s uncertain macro environment shows no signs of abating. Collaboration between procurement, supply chain, finance, HR, operations, IT, and all other business functions are more important than ever before. 

Amid all of these changes and existential reckonings, Philip encourages procurement to look inward and think deeply about 3 key questions in 2024:

  1. What is the purpose of procurement in your organization?
  2. How can you create a true competitive advantage, and what are you doing to achieve that?
  3. How are you driving differentiated decision making in 2024?

Links:

 

Jan 5, 2024

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.

Jan 1, 2024

“I think it is really important not to assume that just trying to tie everything to revenue is the right answer … I think we should tie everything to the value and the outcomes perceived by our stakeholders. - Dan French, CEO at Consider Solutions

Procurement has long struggled with feeling as though they are an underappreciated or undervalued function that receives less support, advocacy, and budget than other areas of the business – especially revenue-driving areas, like sales or marketing. 

As Dan French, CEO at Consider Solutions, said in the opening session of Mastermind LIVE 2023, not only is this perception a little misguided (and likely not doing procurement any favors either), but it also can lead to an over-reliance on revenue contribution as procurement’s key performance metric. 

Instead, he says, procurement has to understand that their existential angst is not unique. Every business unit is fighting for relevance (and resources) and delivering real value requires procurement to look at more than just cost savings and create a more “balanced scorecard” of what success looks like.

In this episode, Dan talks with Philip Ideson about:

  • How to build a balanced performance measurement framework that reflects procurement’s real value contribution
  • The importance of aligning with the business versus going rogue when it comes to goals and KPIs
  • What procurement keeps getting wrong about their own role in the business

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