“Show me the incentive, and I will show you the outcome.” Warren Buffet’s vice chairman Charlie Munger’s succinct and insightful take reminds us of the power of incentives—and provides a backdrop for this project.
In this first episode of the “Buy: The Way…To Purposeful Procurement” podcast, produced collaboratively by the teams at Art of Procurement and Fine Tune, Fine Tune CEO Rich Ham, Philip Ideson, and Kelly Barner lay the groundwork for this year-long series of bi-weekly episodes featuring hand-picked guests that will explore various flaws within commonplace procurement department incentive structures, and how those flaws are holding the profession back from its most purposeful potential.
This first conversation sets the stage for frank discussions with practitioners, procurement leaders, and subject matter experts about how prevailing systems of incentives create harms to the status quo, what a healthier system might look like, and the outcomes such improved systems might produce—both within the company’s walls and beyond them.
Links: