Back in 2016, I interviewed Jimmy Ankleseria over the course of two podcasts, on the topic of strategic cost management. They were very popular at the time, and contain a number of timeless insights into how we can be more strategic about understanding and managing the input costs of the products and services we buy.
With today being a holiday week here in the US, I have combined the original two shows - which clocked in at over 2 hours - into a single 40-minute episode.
Listen in to hear Jimmy share ideas of how to build cost models for both products and services, and then his approach for partnering with your supplier to manage total cost once the contract is signed.
This week on the show, the tables are turned! AOP alumni and Negotiations Ninja host Mark Raffan just interviewed me for an episode of his podcast on the topic of procurement cost savings. I enjoyed the conversation with Mark, and so we decided to simultaneously publish both on Art of Procurement and Negotiations Ninja.
In our conversation, Mark dug into that omnipresent procurement metric of cost savings. I share details of how I have seen most organizations calculate savings, and what is typically off limits. Mark also asks if there are any ways to easily save money – the low hanging fruit – that any procurement function just starting on their maturity journey should focus on.
I really enjoyed our conversation – and the challenge that comes with being on the other side of the microphone!
Hitting publish on the show is a culmination of a lot of thinking and reflection as I look to continue the evolution of Art of Procurement.
I reflect on where we have come from, but more importantly look to the future and the building blocks of what my team and I have termed Art of Procurement 3.0.
In today's episode, I start by sharing the importance of finding your Why, and the process that I went through to articulate my own.
I then explore why I believe Art of Procurement must continue to evolve to be in service of my Why.
And then I deep dive into that evolution, and how my thinking has evolved over the course of 175 interviews, and putting those learnings into practice for my clients.
Finally, I share the six content pillars for Art of Procurement in 2018, and how they connect with our core philosophies of Making Choices, Leaving a Mark and Generating Fulfillment.
For more information, visit http://artofprocurement.com/episode169
I was inspired to cover today’s topic based on a question from a listener who has resolved to make a career move in 2018…
I know from personal experience that at this time of year, we are often making decisions on our career strategies for the year ahead. When I made the decision to pursue setting up my own business, I made the decision over the holiday period, and I’m sure many listeners may have done the same this year – whether it is to pursue a new role internally, or externally.
So what I thought I would do today is share a number of tips to consider if you are considering a new role in 2018 – based on both my own experiences, but also gleaned from interviews and conversations with a number of recruiters.
These tips are focused on what you can do TODAY to be prepared.
Software has always been one of those categories where on the surface, cost savings appear hard to find. Often the vast majority of spend is with software industry giants over whom the majority of procurement teams have little negotiating leverage.
In today’s show, I focus on how to identify savings opportunities across your entire portfolio of software suppliers. And when I say cost savings, I don’t mean relying on getting a better rate, but partnering with IT to look more holistically across your entire software category spend.
My guest to take us on this journey is Mohammed Faridy, the CEO of OneView, a contract management tool. I met Mohammed through a mutual acquaintance, and Mohammed is also an experienced technology sourcing consultant and practitioner.
After a week hiatus for Labor Day here in the US, we are back with another great interview (and I mean great!) Joining me today is my good friend Naseem Malik, Managing Partner of MRA Global Sourcing.
If you are attempting to retain or hire procurement talent, and you are in a location where the market is tight, then this show is for you!
Our conversation is split broadly up in to three parts. First, I hit Naseem with a number of questions related to the procurement job market today – what is the current state, what signals would suggest the market is changing, and what are the most in demand skill sets.
Naseem then shares his perspective on what a procurement leader can do to not only retain the A-level talent that they have in their team today, but also how to attract the professionals needed to take their organizations to the next level.
Today I am joined on the Art of Procurement by Peter de Heer, a partner at Expense Reduction Analysts.
Before joining Expense Reduction Analysts, Peter enjoyed a successful career with the leading consumer goods company Henkel. Peter started outside of procurement leading marketing teams, and as a COO of their Mexico operations, before moving over into procurement executive roles.
I invited Peter to join me having read a white paper that he authored discussing the CFO and CPO relationship – and particularly the areas where Finance and Procurement should align, but often do not!
I explore how we can build better relationships with our peers in Finance, and begin by asking: what keeps a CPO up at night.
Today, we are doing something a little bit different, and today’s show is for independent procurement consultants or for those considering making the switch to self-employment.
It is a topic that I am asked about frequently by listeners, either through email or in person at industry events – and is one that I believe we will become increasingly relevant as the nature of work continues to shift.
I’m joined by Anthony English, a business coach focusing on helping consultants and small businesses win new business. Anthony and I focus on some of the mindset shifts necessary to increase your chances, as an independent procurement consultant or small business owner, of maximizing the value of your time.
My guest today is Nick Seiersen, a Director with the International Association for Contract and Commercial Management, or IACCM for short.
Nick is an contracting expert, and it is a topic that I haven't covered on the show in as much detail as I think it deserves!
In our conversation, I wanted to explore a couple of topics – firstly, what are some of the contracting pitfalls that Nick sees Buyer’s make time and time again that we should be aware of, and then secondly is there such a think as innovation in contracting.
Nick shares innovations taking place both in terms of commercial models, but also contract design and shares one particular example in which a fully illustrated contract was used in lieu of a standard employment contract.
I'm not sure that lawyers will soon be replaced by artists, but it was really interesting to hear what is possible if we think outside of our traditional assumptions of how a contract must be written.
I am joined on the virtual couch this week by two returning guests and friends of the pod, Greg Tennyson, the CPO of VSP, and Stephany Lapierre, CEO and founder of supplier intelligence platform, tealbook.
You may recall earlier in the summer, I mentioned that I had facilitated a number of roundtables around the US on the topic of supplier intelligence. The roundtables were titled “Exploring the Upside of Accessible Intelligence”
Steph accompanied me at all roundtables, and Greg chaired our session in San Francisco, so I thought I would invite them both on to the show to share some of the key insights that they walked away with - and actions that procurement executives can take - based on the collective input of over 60 procurement leaders.
Joining me today on the show is Pierre Lapree. Pierre founded Per Angusta, a procurement project pipeline and performance tracking tool, over four years ago following a career within IT, and then procurement, at staffing firm Adecco.
For regular listeners, you may recall that Pierre was previously one of our revolutionaries at The Procurement Revolution event that I co-founded with Kelly Barner last September.
Today, we talk all about the savings process. Specifically, what are the actions that we can take to bring trust, transparency and consistency to the savings tracking process. It is widely reported that CFO’s neither trust our reported numbers, nor see the majority of our claimed savings dropping to the bottom line. So, what can we do to bridge the gap.
Listen in as Pierre and I discuss the best practices that we have observed and implemented throughout our careers – both as practitioners and service providers.
Today I am joined by Michael Shaw. Michael is well known through the Sourcing industry, particularly here in the US, he is currently chairperson of the American Council of Sourcing and Procurement Executives.
The heart of today’s conversation revolves around a concept called 3SI – Supplier Specific Sourcing Intelligence. The premise is that a number of companies struggle to access the supplier market intelligence that they need to really enable them to build win-win relationships with key suppliers. We tend to focus on win-lose, or leverage when it comes to using market intelligence. Following the principles of 3SI provides the ability to craft deals with key partners – and Michael provides an example of a Microsoft licensing deal – that provide better results than a typical negotiation would achieve.
Today I have a really insightful interview to share with Jonathan Grant and Ben Szostek, two senior leaders within the procurement group at Newell Brands.
Jonathan and Ben have been on a journey to bring advanced analytics capabilities to Newell Brands, delivered through a center of excellence model.
In today’s discussion, we talk about some of the tactics they use, from clean sheet costing and cost modelling to negotiation fact packs which is a concept I really like.
You will also hear examples of different sources of data used, the skill sets necessary to build out a team like this, and how advanced analytics are being applied to both Direct and Indirect areas of spend.
If you have an interest in understanding how you can build an advanced analytics capability, this is a must listen!
It is Independence Day week here in the US, and so what I thought I would do today is to go back into the achieves and replay one of my solo shows that I recorded almost 18 months ago now.
It is a topic that I remain passionate about – why I think we in procurement should care less about being “best-in-class”, and more about what our internal organization really needs from a procurement function.
We have all read the blog posts and listened to the talking heads who inform us that Generation X believes this, and Millennials believe that. But are these generational labels actually true, or do we use them as a lazy or misinformed way to try and understand and connect with peers who are not within our own age group. That is the topic of today’s Art of Procurement.
I am joined in today’s discussion by two experts in the field. Jim Baehr is group lead for Sourcing Strategies Group and through roles both in consulting and as a procurement leader has helped a number of organizations through procurement transformation initiatives. Joining Jim is Mike Urick. Mike is Graduate Director and Assistant Professor at St. Vincent College in Latrobe, Pennsylvania. Both Jim and Mike have joined forces to explore the future of work and the impact of generational labels at they seek to understand how procurement leaders can mitigate the coming talent shortage in our profession.
Today on the pod I am joined by David Bush, formerly of IASTA and Determine, and now Chief Revenue Officer for spend analytics specialist SpendHQ.
It has been a year since I first met David, and so his appearance on the Art of Procurement is long overdue!
I invited David onto the show discuss the topic of spend analytics. Spend analytics have always been a bit of a pain for me - I have spent a lot of time playing with pivot tables and searching Google to try and categorize suppliers which leads to lots of errors and a lot of time invested!
But I know that it doesn’t have to be like that.
I invited David on to the show to hear his advice on the steps that procurement leaders can take to gain greater visibility into supplier spend, which is the foundation of robust procurement strategies.
This Month in Procurement returns, and this week Mark and I welcome a special guest, Sigi Osagie.
Sigi is the charismatic author of the popular procurement book, Procurement Mojo, and a has an extensive background driving performance improvement and change across multiple functions and industries - both as a practitioner and business owner.
Mark and I invited Sigi to join us this month to chat about Procurement Mojo, and to hear Sigi’s perspective on some of the actions we can take to create procurement success.
Today, I'm joined by Tim Meester. Tim is the Senior Director of Procurement and Sustainability for Best Buy, an almost forty billion dollar revenue provider of technology products, services, and solutions.
As I got to know Tim in our pre-interview, I was very impressed by his and his team’s efforts to deliver value beyond savings at Best Buy. We connected to discuss CSR and sustainability, but that is only the start for his team.
In today’s discussion, Tim shares the actions that Best Buy procurement is taking to expand the procurement value proposition and importantly, how Best Buy actually incentivizes their teams to enable them to focus on more than just cost savings alone.
Today, Kelly Barner (Buyers Meeting Point) and I announced that we have founded a new entity to meet the strategic needs of forward-thinking procurement leaders. Palambridge brings procurement experts, technology, and intelligence together and makes them available on demand via a virtual platform.
In this bonus podcast, I go beyond the press releases to share more details on the Palambridge journey, our ecosystem, the reason behind the name, and much more!
After we ran The Procurement Revolution in 2016, we wanted to create a lasting force for change. After much discussion and consideration, Kelly and I realized that nothing held more value than the network of experts and partners we built in preparation for the event - and that became the foundation for Palambridge.
Palambridge is the culmination of a 15-year journey working across the procurement and outsourcing value chain, as a buyer, client and service provider, and the delivery model is one that I first mapped out many years ago.
As a procurement leader, I was always frustrated that my ability to access the subject matter expertise that I needed to solve difficult problems was directly related to my ability - or lack of - to make long term investments in hiring, consultants, contractors or outsourcing firms. Palambridge solves this problem, by taking advantage of the platform economy. Our model is built to seamlessly deliver procurement solutions that bring together the best of the best under an on-demand, subscription based, commercial model.
What does this mean for the Art of Procurement?
I am excited about what today’s announcement means for the Art of Procurement. Log on today and you will see a new site design with upgraded search capabilities. But that is just the start. I launched the Art of Procurement as a way of giving the procurement profession a voice, a way for us to work collectively to increase our impact on the organizations we serve. However, my ability to grow and expand the site has always been limited by my own bandwidth.
In addition to co-founding Palambridge, I am honored that Kelly will be joining me on the Editorial team of Art of Procurement as we seek to build and grow a multi-format procurement insights platform. Stay tuned for more information!
Today’s guest was the first ever interviewee on the Art of Procurement. All the way back in Episode 2, Tania Seary, the Founder of Procurious, as well as procurement consulting firm The Faculty and recruitment company The Source, joined me to talk about all things related to the importance of creating a personal brand through social media.
In today’s discussion, we focus on a couple of topics that both intertwine with each other. First, I ask Tania for an update on how things are going at Procurious, and we both share our own motivations for following the paths that we have – in fact Tania turns the table on me by asking a couple of questions on why I started the Art of Procurement.
We then talk about the notion of Procurement 4.0, which will be the focus of the Big Idea Summit, and the impact it is set to have on the way that procurement organizations of the future will operate.
Areas we cover in today’s conversation include:
For more information, visit: http://artofprocurement.com/BIL2017
I have always sought out the Deloitte CPO Survey as a leading indicator on the health of the procurement function and just a couple of days ago, Deloitte published the results of their 2017 Survey.
Today on the Art of Procurement, I am joined by Lance Younger. Lance is the Head of Procurement and Sourcing Consulting in the UK, a Partner of Deloitte’s Strategy and Operations Practice, and a co-author of the report that accompanies this year’s survey findings.
In today’s conversation, we go beyond the numbers to identify some of the trends, challenges and opportunities that look set to shape the procurement profession in 2017.
Areas we cover in today’s conversation include:
For more information, visit: http://artofprocurement.com/deloitte2017
My guest today is Drew Polin. Drew is the president of OpDecision, a company that helps organizations reduce their wireless spend, specifically without having to go through the upheaval of switching out their service providers.
Our conversation today is split into two parts. First, we talk about gainsharing. It's a commercial model that I have been very skeptical about in the past, as I think it can incent the wrong behaviors, and can become a way for service providers to take advantage of less sophisticated buyers. OpDecision uses a gainsharing model, but with a twist. I think that if you are considering any time of gainsharing engagement, you should listen in to Drew’s lessons learned.
We then move into wireless, where Drew shares some of the tips and strategies that you can use to make an impact on your wireless spend here in 2017.
Topics that we discuss include:
• Tips on how to structure gainsharing engagements so that they incentivize the right outcomes, and result in win-win deals.
• The major areas of wireless spend, and how the category is evolving • How wireless carriers make their money in 2017.
• Top pain points for out of control wireless costs.
• Why international wireless costs are set to plummet.
• Supplier dynamics in the US wireless market and the impact that has on pricing.
• Why you are leaving money on the table is you only review and agree wireless pricing as part of your contract negotiations.
For more information, visit: http://artofprocurement.com/wireless2017
Today’s Art of Procurement interview is a real treat. It is chock full of actionable insights on how we can position our careers, and our organizations, to fully take advantage of digitization and its impact on what, and how, we buy.
My guest is Bill Huber. Bill is an active participant in the procurement community and I have followed his career for some time. Bill has worked as a practitioner – most recently as Chief Procurement Officer of Wachovia - as a service provider as head of IBM’s procurement outsourcing offering - and as a consultant and advisor. Today, Bill is a Partner at Information Services Group (ISG), responsible for Digital Platforms and Solutions.
Areas we cover in today’s conversation include:
For more information, visit: http://artofprocurement.com/billhuber
“We never put our own priorities first. If I save money and diminish my stakeholders ability to succeed, then I am counter productive and they are not going to use me again.” – Greg Antoniono, Anthem
Today on the show, I am joined by Greg Antoniono. Greg is the Sourcing Director for Marketing at Anthem, one of the giants of the US Health Care industry
Over the course of the last eight years, Greg has taken his marketing procurement group on a journey from having very limited influence to being a key partner with a direct line to the Chief Marketing Officer.
In today’s show, Greg and I discuss the key steps and learnings that he, and Anthem, took on that journey.
Areas we cover include:
For more information, visit: http://artofprocurement.com/anthem
January 2017 marks the first month of a new collaboration that I am very excited about. I am co-hosting a new monthly show, imaginatively titled The Month in Procurement, with Mark Perera.
Mark is the CEO and Founder of Old St Labs, the Founder of Procurement Leaders, and as I have got to know him, I see how passionate he is about levering innovation and technology to help businesses really harness the power of their supply networks.
The show is meant to be a conversation. We’ll be bringing in other people to join us every month to just chat about the issues of the day and their impact on procurement, and, frankly, anything that we have on our mind!
I’ll be leaving the edit button at home, so what we say, is what you will hear!
This Month in Procurement will have its own podcast channel that you can subscribe to, and I’ll let you know when that is ready to go.
However, for this month, I’m including our conversation in the Art of Procurement feed.
I hope you like it – let me know what you think.
For more information, visit: http://thismonthinprocurement.com