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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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Now displaying: August, 2024
Aug 30, 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.

Aug 26, 2024

“One thing is very clear from our research: the skill sets for procurement are changing. Whatever the skill sets are today, they are not going to be the skill sets that are needed tomorrow.” -Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP

SAP recently released the 2024 results of their annual Economist Impact survey. It contains insights into the overall health of procurement and provides a look at C-suite perspectives on procurement’s role and reputation in the business and the most pressing challenges and opportunities facing them today.

This year, they surveyed over 2,300 C-suite executives across procurement and other functional areas and C-suite positions.

To unpack the survey results, Philip Ideson is joined in conversation by Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP.  

In addition to discussing key findings and insights, they talk about:

  • How this year’s responses differ from previous years and what these new trends say about the future of procurement
  • Major factors impacting the procurement operating model, including new reporting structures, compliance demands, and sustainability expectations
  • How digitization is putting pressure on (and opening new opportunities for) traditional procurement organizations

Links:

Aug 23, 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.

Aug 19, 2024

Category management has been around for decades - so why hasn’t it become ubiquitous? 

Many of the objectives procurement needs to satisfy - both qualitative and quantitative - can be addressed by a category management program. Taking a more comprehensive approach to spend and supplier management can deliver improved cost flexibility, more leverage in tightly held markets, and a closer alignment with the priorities of the business. Despite all of these benefits, category management struggles to secure broad adoption.  

In this solo episode, Philip Ideson speaks about his personal experience with category management and the challenges and opportunities he sees.

Listen in to discover:

  • The roadblocks that prevent category management from living up to expectations
  • Advancements in procurement technology that will enable everyone in the company to play a larger role at the category level
  • Why he still believes category management IS the future of procurement

Links:

Aug 16, 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.

Aug 12, 2024

“What ultimately drove all of us – leadership team, colleagues, and people in procurement – was the excitement about the future. The ability to contribute very differently to the success of the company, ultimately impacting the patient journey, is a great purpose that we have – curing and helping patients.” - Patrick Foelck, Head of Strategy & Transformation and Head of Insights & Enablement Procurement at Roche

How procurement prepares for the future, one that includes accelerating digital innovation, may determine whether they have a future at all. 

In this episode, Philip Ideson discusses the importance, if not existential necessity, of procurement transformation with Patrick Foelck, Head of Strategy & Transformation and Head of Insights & Enablement Procurement at Roche. As Patrick said, “There must be more than running this singular, one-dimensional process and chasing the savings as a one-dimensional outcome. I think that is also our future. If we don’t get out of it, or if we don’t build on it, procurement will be dead to an extent, or replaced by technology or by an external party.”

In this episode, Patrick and Philip tackle the ‘big’ questions around the future of the procurement operating model and the role of procurement transformation in securing that future, while also discussing: 

  • How to build the procurement operating model of the future, pulling together insights and enablement, delivery, business partnering, capabilities, and digitization
  • Roche’s own transformation journey and what success looks like post-transformation
  • Defining, measuring, and achieving transformation success with KPIs beyond savings

Links:

Aug 9, 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.

Aug 5, 2024

“What’s interesting in financial services is that third-party risk management is very different than supplier risk management. When a financial institution looks at risk, they look at risk at the relationship level, not just at the supplier level.” - Arnaud Malardé, Director of Product Marketing, Ivalua

In the highly-regulated financial services industry, effective third-party risk management is non-negotiable. It can make or break operational success, not to mention client trust. Even though avoiding risk altogether is not realistic, it doesn’t have to feel like an uphill battle. 

In this episode, Kelly Barner speaks with Arnaud Malardé, Director of Product Marketing at Ivalua, and Vivek Jayaraj, Managing Director at Deloitte Consulting LLP, about how procurement can turn third-party risk management into a strategic advantage for the business. 

As they explain, streamlining business practices and supporting them with well-integrated digital platforms can create the best environment for managing third-party risk and achieving successful outcomes for the business. 

They also share their ideas about:

  • What a ‘single source of truth’ for third party risk looks like in practice
  • How to align risk management with supplier management 
  • Best practices for leveraging AI in third-party risk management platforms

Links:

Aug 2, 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.

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