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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: Category: procurement
Jun 10, 2024

“A contract lifecycle management platform drives processes for you. That drives your price down, your risk down, and you get the best of all worlds like procurement wants." - Paul Bagley, Director of Commercial Contracting at Acosta

Historically, procurement viewed contracts as a legal formality, something only to be referred to when things go wrong with a supplier. 

This outdated approach leaves a goldmine of untapped value and insight on the table, and it’s time for procurement to have a mindset shift when it comes to the way they use, store, value, and leverage digital contracts.

In this episode, Philip Ideson and Kelly Barner talk with Paul Bagley, Director of Commercial Contracting at Acosta, and Toby Laforest, Director of Product Marketing at Ironclad, about how procurement can leverage the full potential of digital contracts and the technology required to make it happen.

They’ll explain: 

  • Why digital contacts are strategic assets that can provide bottom-line value to the business
  • Why most procurement teams are currently not taking advantage of AI and contract lifecycle management platforms to extract value from their contracts (and what that mistake is costing them)
  • The myriad benefits procurement - and the business - will see when they normalize contract discussions and regularly refer to contract-based insights with suppliers and stakeholders

Links:

Jun 7, 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.

Jun 3, 2024

“You have to make investments in your supplier network if you want to be successful. The old days of ‘I have to win, and you have to lose’ are gone. We are so transparent. We are using technology. Relationships are key.” - Frank McKay, Chief Supply Chain & Procurement Officer, Jabil

In 2023, Jabil conducted a 2023 Supply Chain Survey in collaboration with SIS International Research. In this episode, Philip Ideson sits down with Frank McKay, Chief Supply Chain & Procurement Officer at Jabil to discuss the results, which pinpointed things like cost reduction, customer satisfaction, communication, and visibility as some of procurement’s top-of-mind challenges. 

In addition to sharing his own experiences as a practitioner for over 25 years, Frank also discusses his perspective on the evolving role of procurement and how they can better reduce supply chain operational costs, as well as how Chief Supply Chain Officers should be adjusting their strategies in response to rapidly shifting global supply chain dynamics and volatility. 

In the episode, they also explore:

  • How procurement should be integrating AI and machine learning technologies into their processes to elevate their function and drive greater impact
  • The complex nature of managing global supply chains and how to meet these challenges
  • How procurement can help build more resilient supply chains that can adapt to geopolitical tensions, market volatility, and rapid technological advancements 

Links:

May 31, 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.

May 27, 2024

“At the end of the day, we exist to try and help the procurement profession be more impactful. That’s the lens through which we look at everything.” - Philip Ideson, Founder and Managing Director of Art of Procurement

In this milestone 700th episode, Art of Procurement Founder and Managing Director Philip Ideson has the tables turned on him as he’s interviewed by longtime friend and colleague Mark Holyoake, Owner and Managing Director of Holyoake Search. 

In this special conversation, recorded face-to-face, Philip gets personal about his journey from an early career in automotive procurement to the motivations behind his decision to launch the Art of Procurement and how AOP’s evolution into a successful media and advisory company has challenged and strengthened Philip’s own leadership skills along the way. 

Philip shares his insights with Mark on what it takes to succeed as an entrepreneur and how resilience, continuous learning, and embracing change are essential to that success. 

Highlights from the episode include: 

  • How a rocky entry into the procurement profession was buoyed by his passion for travel and learning about new cultures
  • Recounting the evolution of Art of Procurement from its early days of content creation to the most successful, longest-running podcast in the industry, along with a growing advisory and consulting arm that connects practitioners with subject matter experts
  • The essential skills that have helped Art of Procurement achieve success, including forward-thinking, relationship building, understanding ROI versus just cost, and resilience in the face of challenges. 

Links:

May 24, 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.

May 20, 2024

“In some weird sense, as we see the power of technology, the more apprehensive we get about how much information it should have.” - Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP

Procurement leaders face a number of challenges in optimizing their source-to-pay processes, and they are increasingly relying on AI tools to address those challenges. 

In this episode, Philip speaks talks with Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP, about the positive and negative trends he is seeing across source-to-pay, including in spend analytics, data management and governance, category management, risk management, scenario planning, and AI integration.  

Baber shares his insights on evolving trends in source-to-pay, including:

  • How spend analytics has emerged as the number one technology imperative where AI can enable cost savings and risk management insights
  • Why scenario planning is gaining importance in category management for better risk management amid increased volatility
  • The skills and talent procurement will need to keep up with a shrinking labor force and growing digital demands

Links:

May 17, 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.

May 13, 2024

“There is one thing you can do that really creates a positive ROI for an RFP respondent even if they lose. One thing that will increase the chances that you receive the best RFP responses possible… That one thing is feedback.” - Philip Ideson, Founder and Managing Director at Art of Procurement

In this special solo episode, Art of Procurement Founder and Managing Director Philip Ideson explains why it’s so important for procurement to give meaningful feedback to unsuccessful bidders. 

This feedback is an often-ignored part of the RFP process, but taking the time to give substantive, detailed feedback can lead to better RFP responses in the future, increased goodwill with suppliers, and stronger long-term relationships that benefit everyone. 

In this episode, Philip shares practical tips on how procurement can efficiently incorporate better feedback and responses to losing bidders as well as the benefits this can lead to.

He will discuss:

  • Why procurement should view giving feedback as creating value, not just another obligatory task
  • How to give insightful, meaningful feedback beyond the usual “you were too expensive” or “your application fell short”
  • How to leverage RFP feedback to help suppliers improve and build stronger long-term relationships that also benefit the business

Links:

May 10, 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.

May 6, 2024

“Only when we stop accepting the fact that procurement is being made to make decisions that are not the best for the future but the best for business today will we really start to take action.” - Alex Jennings, Former CPO DS Smith, Independent Consultant at APSL Consulting Ltd

Alex Jennings is a procurement powerhouse with decades of leadership experience working for well-known brands like GE and Toyota and occupying multiple senior roles before his retirement from corporate life in 2023. But, Alex is still leading procurement into the future, even after retiring as CPO of DS Smith. Most recently, he has launched The Alchemie Network, a new platform for collaborative learning around ESG and sustainability for procurement.

In this episode, Alex talks with host Philip Ideson about how The Alchemie Network can help procurement make better strides towards a more sustainable supply chain and how they can turn their organization’s vision for sustainability into tangible outcomes for the business. 

They’ll discuss:  

  • How procurement can take an active role in impacting sustainability goals
  • Ways procurement can balance short-term cost-savings needs with long-term thinking around sustainability
  • Why education is the key to procurement’s success and how they can feel more empowered to lead the business toward a more sustainable future

Links:

May 3, 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.

Apr 29, 2024

“If you think of it simplistically, orchestration is a whole art form. You have to learn what it all means. But in so many words, it is nothing else than acting as if it is your own company. How cool is that?” - Elisabeth Schlag-Lawrence, SVP, Head of Procurement Governance and Enabling, Bayer

When procurement is decentralized, it is difficult to achieve the visibility they need to proactively manage risk and compliance, identify savings, and create value and opportunity for the business. 

In this episode, Philip Ideson welcomes a heavy-hitting panel of Fortune 500 procurement leaders to discuss how procurement orchestration can help create optimal digital experiences across the organization and level-up procurement’s tech stack. 

He is joined by Elisabeth Schlag-Lawrence, SVP, Head of Procurement Governance and Enabling at Bayer; Chris Vessey, Executive Director, Global Product Strategy & Transformation at Goldman Sachs; Shachi Rai Gupta, Global Head of Strategy, Intelligence and Digital Transformation at Bristol Myers Squibb; and Lance Younger, CEO of ProcureTech. 

They discuss:

  • How global procurement leaders define modern-day procurement orchestration in a highly decentralized and digitized landscape and the difference it can make to an organization
  • Snapshots of what a journey towards successful procurement orchestration looks like for a Fortune 500 company, and the challenges they may need to overcome along the way
  • How procurement leaders can secure buy-in for an orchestration “revolution” in the business and the steps they should take to launch it once they have that support

Links:

 

Apr 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.

Apr 22, 2024

“I think we are headed for human-centered AI where we have the human at the core, and you are going to augment your capabilities with technology to make your work better. That is where it is going.” - Darshan Deshmukh, President at ProcureAbility

Procurement is acutely aware that emerging technologies like AI are already having an impact on the profession and will change the role and function of procurement even more in the years to come. While some in procurement are embracing, or, at the very least, accepting the new AI-powered future of procurement, others are somewhat more resistant or even fearful of the changes ahead. 

To explore how procurement can and should be thinking about and integrating AI into their delivery model of the future, Philip Ideson recently spoke with Darshan Deshmukh, President at ProcureAbility, while they were at ProcureCon Indirect West in Las Vegas, NV. 

As a part of their wider discussion on how AI is impacting procurement, they talk about:

  • Best practices for integrating AI into procurement workflows for increased value creation
  • How procurement’s traditional operating models will change because of AI 
  • Skills development and talent priorities in the age of AI 
  • How procurement’s impact has shifted from cost savings to value delivery 

Links:

 

Apr 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.

Apr 15, 2024

“What we have to do from day one is engage the business, sell the value of procurement, communicate the value of procurement, and make quick wins with the suppliers.” - Salvador Serra de Paz

Procurement transformation can sometimes feel like a daunting undertaking, especially when there are voices within the business that are hesitant (or downright resistant) to change and view any improvements to processes, workflows, ownership, or technology as threats to their own function. 

In this podcast episode, Philip Ideson welcomes Salvador Serra de Paz, who has extensive experience leading successful global transformation projects in a variety of different industries and settings. Salvador reveals the most common challenges he’s faced with each transformation project, the tactics he used to overcome them, and what years of experience in procurement transformation have taught him about the important role that communication, marketing, and perceptions play in getting it right. 

Specifically, Salvador discusses:

  • How to design and implement successful procurement transformation projects
  • Turning procurement from a cost center to a profit center
  • How to overcome hesitancy and resistance to any transformation project

Links:

Apr 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.

Apr 8, 2024

“2023 was the year of the ‘dabbler.’ We all heard about AI, and we were all playing around with ChatGPT. We were dabbling around, but we were not integrating. I think 2024 is the year that we actually integrate AI and start to create workflows around it.” - Heather Murray, AI Trainer and Advisor at Beesting Digital and Founder of AI for Non-Techies

Since the release of ChatGPT in 2023 brought generative AI technology to the masses and ushered in a wave of new AI-powered solutions, companies have been scrambling to figure out how to harness AI to their advantage and wade through all the new solutions on the market.

At Digital Outcomes, Art of Procurement’s annual technology-focused virtual event, Heather Murray, AI Trainer and Advisor at Beesting Digital and Founder of AI for Non-Techies, joined the opening session for a discussion on the potential for AI in procurement and how procurement leaders, and businesses in general, should be approaching creating and sustaining their AI strategies in a world where the technology is evolving at break-neck speed. 

In this podcast episode, we revisit Heather’s session, “Straight Talk About the Potential of AI,” where she and Kelly Barner discuss:

  • How procurement should think about the different types of AI tools available and keep pace with rapidly changing technology
  • What most people get wrong about AI, and the inherent risk that everyone in procurement should know about
  • Using a specific framework to decide whether AI is a suitable solution to a business problem

Links:

Apr 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.

Apr 1, 2024

“The procurement job market is back. That’s great! But, as it regains momentum, both job seekers and companies are going to have to adapt, and I think the road ahead promises growth and transformation and opportunity for anyone who is willing to embrace this change.” -Mark Holyoake, Managing Director, Procurement Recruitment at Holyoake Search 

After nearly 5 years of what seemed like a rollercoaster of ups and downs in labor trends – from salary inflation to hiring to economic downturn and then back again to recovery (whew!) – the procurement job market seems to be showing signs of stability and steady, reassuring growth that should benefit candidates and employers alike. 

To better understand where the procurement job market has been, where it stands now, and where it is headed, Philip Ideson welcomes Mark Holyoake, Managing Director, Procurement Recruitment at Holyoake Search, back to the podcast. Mark explains why he feels more optimistic about the job market than he has in years, but he also cautions employers against allowing favorable hiring conditions to lull them back into old bad habits. 

In this episode, Mark gives his take on:

  • The biggest job market trends in procurement today and how employers and job seekers can take advantage of the good news he has to share
  • The biggest mistake that most procurement hiring teams are making right now and how it is impacting the business
  • What procurement job seekers should do now to distinguish themselves from a sea of candidates and stand out in a highly competitive job market

Links:

Mar 29, 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.

Mar 25, 2024

“At larger traditional companies, there is a common theme in procurement that ‘I need a seat at the table, and I need to justify to you why I am in this room with you.’ But a startup is actually a breath of fresh air. There are not that many tables, so you are at the table, regardless of whether you like it or not.”- Liem Hua, Head of Procurement at Rippling

Building and scaling a procurement team in a high-growth startup can look very different from traditional corporate environments. Procurement has to adjust their approach to almost everything, from stakeholder management to strategy building and hiring to the very role they play in the business. 

In this Art of Procurement episode, Philip Ideson speaks with Liem Hua, Head of Procurement at Rippling, about the differences between procurement’s role and scope at a startup or high growth company versus a large, traditional enterprise. Liem has held a number of different roles at startups and high-growth companies, but he has also worked for large corporations like Delta Airlines, and he understands the kind of code-switching procurement has to engage in depending on their environment. 

In this episode, Philip and Liem discuss:

  • How startups make it easier for procurement to play a larger, more impactful role in the business, and ways procurement can take advantage of this
  • How procurement should adjust their approach in an environment where growth, scalability, and speed are top priority
  • Best practices for procurement in hiring, processes, goal-setting, and negotiating in a high-growth company

Links:

Mar 22, 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.

Mar 18, 2024

“It’s really nice to have a bigger purpose and actually see the communities that you are changing, the lives that you are altering and impacting through the work that you do.” - Andrew Savage, Global Lead: Procurement Excellence at MTN

No one would expect leading an award-winning procurement center of excellence across Africa and the Middle East to be easy, but when you’re bringing goods or services to hard-to-access geographies or communities, it gives an even deeper meaning to the value you are bringing to the business and entire populations of people.

In this AOP podcast episode, Philip Ideson welcomes Andrew Savage, Global Lead: Procurement Excellence at MTN, to talk about his experiences building and leading a large procurement center of excellence across some of the most challenging geographic regions in the world and how that experience has informed his sense of procurement’s value creation. 

In the episode, they discuss:

  • How geographical and geopolitical considerations add both complexity and opportunity to procurement’s role
  • The key ingredients for building a procurement center of excellence even in challenging global environments
  • How the principles of entrepreneurship, flexibility, and agility help transform procurement into a profit center for the business

Links:

 

 

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