On today's Art of Procurement, I welcome Coupa President and CEO Rob Bernshteyn to the show. In our discussion, Rob and I focus on the concept of value as a service, and the benefits of focusing on delivering outcomes rather than tasks.
I then question Rob on what procurement leaders can apply from the concept of value of a service as they look to build a more stakeholder orientated procurement delivery model and the capabilities that underpin it.
For more information, visit http://artofprocurement.com/valueasaservice
As a Buyer, a key factor in my sourcing decisions was the size of the supplier. While it is arguably the greatest piece of marketing of all time, the fact that “nobody ever got fired for buying IBM” was often at the forefront of my mind.
I had a number of reasons for taking this approach – some real, some perceived. In today’s Art of Procurement, I explore the reality of working with small and medium sized businesses with Tom Greco and Ed Edwards of THOMASNET.com.
First, Tom and Ed explain which of my fears were based on fact, and which were in my mind only. They then provide guidance on how I could have mitigated the risks that are present to take advantage of the benefits that working with small and medium sized businesses provides.
We then move to the other side of the table. How do small and medium sized businesses feel about working with larger procurement functions.
The answers surprised me. In essence, smaller companies fear working with larger organizations as much as I did with them.
So how can we break the cycle? In the final part of the discussion, Tom and Ed provide their insights into how we as procurement professionals can more effectively facilitate the use of smaller companies to benefit from the innovations – and often lower costs – that they can often provide.
For more information, visit: http://artofprocurement.com/smb
On Wednesday of this week, I joined host Jamie Liddell (Editor in Chief at Outsource Magazine) and fellow panelists Kate Vitasek (Vested) and Don Ryan (KPMG) on this month’s Outsource Talks Q&A webinar.
During the webinar, I answered questions from Jamie related to the current challenges that CPO’s are facing, and the evolution (and future) of procurement outsourcing. My favorite was a question on how I would structure the sourcing organization if a Fortune 50 company with a huge budget came knocking at my door!
When Jamie approached me to be a panelist on Outsourcing Talks, I thought it would be fun if we continued the discussion on the Art of Procurement. So in today’s show, I turn the tables on Jamie and put him in the hot seat!
In the webinar, it was suggested that technological change will lead to a revolution in the way organizations access business services. I ask Jamie if this is hype, or reality. We also discuss the ongoing implications of Brexit, and I ask Jamie if his perspective has changed since he wrote passionately against Brexit the morning after the vote.
For more information, visit: http://artofprocurement.com/outsourcetalks
As the Co-Founder, Chairman and CEO of Tradeshift, Christian Lanng is on the front lines of the technology evolution, and he gets to see first-hand the impact that innovative technology is having – and will have - on the enterprise.
In today’s Art of Procurement podcast, I sit down with Christian to understand what this will mean for procurement. If Christian’s vision materializes, it will mean a seismic shift is in store for our profession over the next 10 years.
In this episode, you will learn:
For more information, visit: http://artofprocurement.com/tradeshift
Procurement plays a pivotal role in the delivery and execution of the Olympic Games. However, it was not always like that. The organizing committee of the 2012 London Olympic games took the decision to invest in strategic procurement like never before. The result: the success of team created a legacy whereby the IOC has recognized that procurement must play a pivotal role in the delivery of all subsequent Games.
I am joined today by Gerry Walsh, the CPO of the London 2012 games. We discuss his and his team's Olympic journey, including the key challenges his team faced, how they overcame them, and the extraordinary lengths that they went to, to ensure that the Organizing Committee fulfilled their CSR commitments.
For more information, visit http://artofprocurement.com/olympics
As procurement professionals, we often see our peers across the negotiating table as adversaries. However, there is a lot that we can learn and apply from the art of Sales, particularly when it comes to influencing others.
This week’s guest on the Art of Procurement is Stan Garber, President of Scout RFP. Stan is a proven sales and business development leader, and I wanted to tap into that experience to focus on two specific use cases where procurement can lever Sales techniques to increase their sphere of influence. First, we explore ways of selling the procurement value proposition internally, and then shift focus and consider how you can convince larger suppliers to provide “customer-of-choice” status when your level of spend alone may not merit such treatment.
For more information, visit: http://artofprocurement.com/scout
In my experience, there are few stakeholder relationships that are as important, or as fractious, as those between procurement and IT - particularly when it comes to supporting strategic purchases. How can we turn this relationship on its head, and become friends and not foes?
This was the topic of today's conversation with Kendra Von Esh, ex-CIO of Veolia and current Executive Strategic Advisor for Coupa. Kendra and I explore how the CIO is measured, why a CIO may bypass procurement, and what we can do about it.
For more information, visit: http://artofprocurement.com/cio
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!
http://artofprocurement.com/75
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