As the skill sets that CPO’s require from their procurement professionals continues to evolve, the market for the most qualified talent is becoming more competitive than ever.
Previously, the lure of a brand, or a small step up in responsibilities and salary was enough to attract the best and brightest. As a candidate, you were told to be happy that someone – anyone – was willing to give you a pay check.
How things change.
In today’s show, Andrew Daley, co-founder of procurement recruitment firm Edbury Daley provides his insight on what the most effective firms are doing to attract the best procurement talent in the market.
For more information, visit: http://artofprocurement.com/rulesofattraction
Kelly Barner and I feel strongly that we have a lot of opportunity in front of us as a procurement function, but we need to challenge the status quo. By focusing on the same things that we have always done is more likely to lead to us becoming irrelevant than a strategic business partner. Enter, The Procurement Revolution.
Kelly and I have started to finalize the themes within the Procurement Revolution, and there is one that we wanted to enlist your help with today. Listen in to today's Art of Procurement show to find out how you can help shape the Revolution!
Think of the handful of supplier agreements that you have that are fundamental to your business operations and strategy. How many of your most material supplier relationships are based on leverage, power dynamics and a zero sum game?
Today's guest is Kate Vitasek, Founder of the Vested business methodology. Kate provides real world examples as I ask how we, as procurement professionals, can put these rules in to practice and create relationships based on the notion of shared value. The result: a supply based that enables our stakeholders to “win” at what it is that they do to contribute to the competitive advantage of our organizations.
For more information, visit: http://artofprocurement.com/vested
At some point in time, we all come to a crossroads. A decision has to be made between two paths that has long term implications on the direction of our careers.
I have encountered a number of these crossroads throughout my career to date. In today's show, I share three such examples, the decisions I took (and why), and then I reflect on the lessons that I learned so that you don't have to make the same mistakes as I did!
For more information, go to http://artofprocurement.com/careercrossroads
With procurement talent at a premium, and the skills required to be successful rapidly evolving, professional development has arguably never been so important within our field. But, are old world methods of learning such as classroom training dead?
Mark Pollack, Vice President of SIG University is an expert in adult education. In today's episode, Mark shares why ongoing development is so important, along with the keys to delivering training programs that inspire and motivate professionals to engage in the developmental opportunities provided to them.
For more information, visit http://artofprocurement.com/education
In today’s Art of Procurement, I share how the concept of demand management came to the front of my mind while out shopping for birthday presents for my son last weekend.
I then discuss five different ways in which procurement can help our organizations reduce their overall expenditure by managing demand rather than reducing supplier profit margins.
For more information, visit http://artofprocurement.com/demandmanagement
Where do you go for supplier information if you are asked to lead a sourcing project for a product or service you are unfamiliar with?
Stephany Lapierre, my guest on today’s Art of Procurement show, is the expert in Supplier Discovery. First Stephany founded Matchbook, a consulting firm helping biotech firms identify and source hard to find suppliers to meet very specific needs. Following customer demand, she then built and launched tealbook, an online supplier knowledge management platform.
In today's show, Stephany shares the 10 most effective ways in which to identify qualified suppliers for your next sourcing event or category strategy.
For more information, go to: http://artofprocurement.com/supplierdiscovery
David Hearn is on a mission to help forward thinking procurement leaders transform their procurement organizations from being tactical to strategic. As a practitioner, he has led three different organizations - Juniper, Kaiser Permanente and Sun Microsystems, through this transformation journey.
In today's Art of Procurement, David shares what he has learned from his experiences to date - what works, and what does not - and he discusses the importance that technology plays in driving the changes that are necessary for a transformation program to be successful.
For more information, visit http://artofprocurement.com/transformation
A week has passed since the UK electorate shocked the world by voting to leave the EU. In this episode, I share my personal feelings on the vote, and also explore both the short term impact and what I believe is the most likely long term outcome.
In the short term, I believe that the Brexit vote provides an opportunity for procurement professionals and leaders to position themselves as the go-to contacts for the c-suite in managing the supply side volatility that is a natural consequence of the result. So, for today's show, I immediately reached out to Susan Grelling. Susan is an economist, CPO and Risk Management executive who also has first hand experience of the impact of the Soviet Union breakup. Susan is ideally positioned to provide guidance on how procurement can navigate volatility while minimizing risk to the benefit of our organizations.
For more information, visit http://artofprocurement.com/brexitreaction
In the second part of our Value Based Procurement series, I am joined today by former CPO & Founder of Supply Chain Advisors Joanna Martinez and Jordan Early of Old Street Labs.
Joanna, Jordan and I explore where to look to find opportunities to create value for our organizations. We discuss a wide range of options, from supplier driven innovation to how to make a stakeholders experience with procurement more streamlined and user friendly.
For more information, visit http://artofprocurement.com/procurementvalue
Let's undermine the status quo. Stand Up. Speak Out. Drive Change.
Today on the Art of Procurement, I am excited to launch a new procurement event in conjunction with Buyers Meeting Point and Kelly Barner: The Procurement Revolution.
In today's show, Kelly and I explain the philosophy behind The Procurement Revolution, what it is, and how you can get involved!
For more information, visit http://artofprocurement.com/TPRlaunch
In my experience, e-auctions are often used and abused for the wrong reasons. However, if you use them strategically, they can be a very powerful tool in your sourcing tool kit.
In today's show, I explore the critical success factors that determine the successful of your next e-auction. Alun Rafique and Anya McKenna of Market Dojo explain the necessary steps you must take at all stages of an auction - from pre-event preparation to post-even communication.
For more information, visit http://artofprocurement.com/auctiontips
It has been a couple of months since I opened up the curtains and shared with you some updates about the Art of Procurement. However, I have a couple of announcements to make that I am really excited about, and I cover these in today's Art of Procurement Friday show.
Business acumen is an often cited skill needed to be successful in the "new" procurement. But what exactly is it, and how does it apply to procurement?
This was the topic of conversation in today's interview with Jim Barnes, the Managing Director of ISM Services. Jim highlights 10 different traits that he sees - in his experience helping procurement leaders increase the capabilities of their teams - that collectively make up the concept of business acumen. Jim also shares which he believes are the most important skills, and how leaders can begin to develop these capabilities in their teams.
For more information, visit http://artofprocurement.com/acumen.
Today's Friday Show is in response to a listener question: how can I get early engagement with my business stakeholders?
In this episode, I take a look back at my experiences as a practitioner, and look at the key elements that differentiated the projects where I was able to engage early and those where I was nothing more than a rubber stamp.
For more information, go to: http://artofprocurement.com/61
We hear a lot about the changing procurement skill set, and the difficulty that CPO’s are experiencing in hiring the talent they require. However, what is the reality, and if so, how can procurement leaders adjust? And how can procurement professionals stand out from the crowd?
My guest today on the Art of Procurement is Greg Tennyson, the Chief Procurement Officer of VSP Global. Greg explains why the talent shortage isn’t as black and white as it may seem, and he shares what he looks for when hiring and promoting procurement talent.
For more information, visit http://artofprocurement.com/greg
This week's Friday Show is a little different. A recurring theme in my discussions with procurement thought leaders is the need to expand the value that we bring to being more than cost savings alone. With that in mind, I started working with Joanna Martinez (former CPO and Founder of Supply Chain Advisors) and Jordan Early (Head of Research at Old Street Labs) on a series of shows dedicated to the concept of value based procurement.
Joanna, Jordan and I met earlier this week to start mapping out the series. I loved the points being raised so much that I asked Joanna and Jordan if I could hit the record button. What follows is a short conversation on what value based procurement is, and why it is so important to our future.
For more information, visit http://artofprocurement.com/valueintro
How organizations use third party procurement services like outsourcing is evolving rapidly. While only a short time ago, procurement outsourcing was synonymous with job losses, it is now being used as an enabler for growth.
In this episode of the Art of Procurement, Mike Jacobs, Chief Procurement Officer of Staples, explains how Staples uses procurement BPO to enable his internal team to focus on providing value to their stakeholders and elevating the role of procurement.
For more information, go to http://artofprocurement.com/mikejacobs
This week, rather than publish my normal Friday solo show, I am going to share another great interview. Procurement consulting firm Advanced Purchasing Dynamics (APD) recently surveyed a cross section of President's, CEO's and CFO's across the manufacturing industry to understand how they perceived the role of procurement. To any procurement professional, regardless of industry, the results were both eye opening and alarming!
Today's guest on the show is Jeoff Burris, the Founder of APD. Jeoff shares the key findings from APD's research, and how he believes that procurement leaders and professionals should react to build build stronger relationships and relevancy with the c-suite.
For show notes, visit http://artofprocurement.com/ceo
Today's guest on the Art of Procurement is Tom Derry, CEO is ISM (Institute for Supply Management). Tom and I sat down at last week's ISM 2016 Conference to discuss his key takeaways from the event, and how ISM is evolving to meet the changing needs of its members.
Tom then answered a number of quick fire questions, including a question asking if we are facing a talent deficit in procurement. Listen in to hear Tom's answer!
For show notes, visit http://artofprocurement.com/ism2016
My guest on the Art of Procurement today is John P. (Jack) Miles. There are few, if any, leaders in the procurement profession with the depth and breadth of experience as Jack. Jack has enjoyed multiple CPO roles at some of North America's largest companies and has served as Secretary of the Florida Department of Managed Services. He is currently at advisory board member at Coupa.
In today's show, Jack shares seven of the key lessons that he has learned from his career in both the private and public sectors. If you have any interest in growing your procurement career, this episode is a must listen!
For more information, visit http://artofprocurement.com/tao
I was fortunate to the be in the audience recently to listen to today’s guest, Dr Robert Handfield, give a talk on the future of procurement analytics, and the impact that access to real-time and predictive analytics will have on the procurement function. I was delighted when Rob agreed to share his thoughts with me on the Art of Procurement.
Rob talks passionately about how procurement is at in inflection point – where our ability to deliver value by using old tools such as leveraging spend is coming to an end. Rob believes that analytics will be the fuel that propels both the relevancy and maturity of procurement to the next level.
For more information, visit: http://artofprocurement.com/predictiveanalytics
Time has flown by - we have now passed a half century of shows! I have learned a TON from the thought leaders who have graciously shared their time with us to help us all collectively elevate the role of procurement.
In today's show, I take a look back at five key themes that I have taken away from the first fifty episodes. Listen to the show and you will also hear how to get my 20 page report where I share a key lesson that I learned from each episode!
For more, go to http://artofprocurement.com/5from50
The legal category of spend is often the final frontier in terms of procurement engagement. It is too complex, too nuanced and isn’t understood by anyone from outside the legal space. When we do get involved, it is often to help manage low value and commoditized services. So how do we crack the code and become a trusted partner to the legal team.
There is arguably no-one in the world more qualified to answer that question than today’s guest, Silvia Hodges Silverstein. Silvia is the Executive Director of Buying Legal Services, a Lecturer in Law at Columbia Law School, and is a widely published author, having co-written two case studies on the business of law for Harvard Business Review. Hear Silvia share the tips and tricks to becoming a trusted partner of the legal team.
Ugh, governance I hear you say! When we think of procurement governance, we think of it as a way to control our end users - as something to measure compliance against. However, it doesn't have to be like that!
I was invited to speak at a conference recently on the topic of procurement governance. My experience is that governance - if used strategically - can be the cornerstone of a strategy that enables procurement to take on a greater role within our organizations. In this Art of Procurement Friday Show, I explain why, and what your first step should be.
For show notes, including a screencast of the full length presentation, go to http://artofprocurement.com/governance.