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.
“What ultimately drove all of us – leadership team, colleagues, and people in procurement – was the excitement about the future. The ability to contribute very differently to the success of the company, ultimately impacting the patient journey, is a great purpose that we have – curing and helping patients.” - Patrick Foelck, Head of Strategy & Transformation and Head of Insights & Enablement Procurement at Roche
How procurement prepares for the future, one that includes accelerating digital innovation, may determine whether they have a future at all.
In this episode, Philip Ideson discusses the importance, if not existential necessity, of procurement transformation with Patrick Foelck, Head of Strategy & Transformation and Head of Insights & Enablement Procurement at Roche. As Patrick said, “There must be more than running this singular, one-dimensional process and chasing the savings as a one-dimensional outcome. I think that is also our future. If we don’t get out of it, or if we don’t build on it, procurement will be dead to an extent, or replaced by technology or by an external party.”
In this episode, Patrick and Philip tackle the ‘big’ questions around the future of the procurement operating model and the role of procurement transformation in securing that future, while also discussing:
Links:
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.
“What’s interesting in financial services is that third-party risk management is very different than supplier risk management. When a financial institution looks at risk, they look at risk at the relationship level, not just at the supplier level.” - Arnaud Malardé, Director of Product Marketing, Ivalua
In the highly-regulated financial services industry, effective third-party risk management is non-negotiable. It can make or break operational success, not to mention client trust. Even though avoiding risk altogether is not realistic, it doesn’t have to feel like an uphill battle.
In this episode, Kelly Barner speaks with Arnaud Malardé, Director of Product Marketing at Ivalua, and Vivek Jayaraj, Managing Director at Deloitte Consulting LLP, about how procurement can turn third-party risk management into a strategic advantage for the business.
As they explain, streamlining business practices and supporting them with well-integrated digital platforms can create the best environment for managing third-party risk and achieving successful outcomes for the business.
They also share their ideas about:
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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.
“You always really need to look at people, process, and technology. If you don’t look at all three and understand where you are and where you need to be in those areas, you are just going to be chasing.” - Sherry Ulsh, Director, Indirect Procurement, The Hershey Company
At the CoreTrust Conference in April 2024, Philip Ideson had the opportunity to sit down with Sherry Ulsh, Director of Indirect Procurement at The Hershey Company, about a wide range of topics, including her own journey from finance to procurement, the evolving role of GPOs, and the changing skill sets required in modern procurement roles.
Sherry shared her views on the importance of supplier relationship management and stakeholder management, both of which are reflected in her belief that procurement’s value and influence in the business are best realized when they achieve a balance of people, process, and technology.
In this episode, Sherry also shares her views on:
Links:
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.
“Sustainability is at the top of the agenda for businesses, because now they have to demonstrate exactly what their carbon footprint is and demonstrate with complete credibility and transparency exactly what they’re doing.” - Melanie Blackmore, Founder & CEO Blackmores (UK) Ltd and Carbonology Ltd
When Melanie Blackmore, Founder & CEO Blackmores (UK) Ltd and Carbonology Ltd, says that she is deeply passionate and “in love with” standards, she readily admits not everyone will be able to relate to her enthusiasm. But, applying ISO (International Organization for Standardization) can give organizations, and specifically procurement teams, the direction they need to ensure quality, safety, efficiency, and even compliance across industries and for both goods and services.
The stakes can be high, but the benefits of implementing ISO standards are often even higher.
In this episode, Philip Ideson explores the ins and outs of an ISO framework and how it can help a business improve their processes by following a set of internationally recognized best practices.
They discuss:
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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.
“I think category management is great fun because you have the freedom to do things. It’s not following a rote process. It’s using structure to be creative. I think that’s the great benefit of it.” - Mark Webb, Managing Director at Future Purchasing
For many in procurement, category management is “old hat.” Some even assume that widespread adoption and integration of category management structures and processes within the business are non-issues in 2024. They see category management as a mountain that has been scaled, and now procurement just needs to sit back and enjoy the view.
When we look more closely, however, there is still significant room for improvement in category management strategy and for expanded scope of implementation throughout the business.
In this episode, Philip Ideson welcomes back Mark Webb, Managing Director at Future Purchasing, for a deep dive into the current state of category management, including where we’ve been and how far we have left to go. Mark also shares the results of the 2024 Global Category Management Report, a large, comprehensive study Future Purchasing conducts in partnership with Henley Business School.
They discuss the importance of stakeholder involvement, the need for more consistency and effective communication, the distinctions between category management and strategic sourcing, and the delicate balance between internal expertise versus external resources in implementation.
Philip and Mark also explore:
Links:
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.
“It’s incumbent upon all of us to be change ready, to be curious, to always be learning because this overestimated technology today will truly be delivering huge results tomorrow.” - Alan Veeck, CEO & Founder at Summit Procurement
There are very few voices in procurement right now – or businesses in general, for that matter – who are raising the flag that all of the fear, enthusiasm, and hand-wringing over AI’s growing influence might be one big, collective overreaction.
Alan Veeck, CEO & Founder at Summit Procurement, is one such voice. In this episode, he shares with Philip Ideson why his contrarian attitude toward AI has little to do with his belief that AI will indeed revolutionize the space.
Alan explains how decades of seeing other technology hype cycles come and go have given him a more measured outlook for innovative or emerging digital breakthroughs (including generative AI) and why he thinks other procurement leaders should dial down the frenzy around AI that likely isn’t doing their teams, or the business, any favors.
In this conversation, Alan also talks about:
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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.
The speed of business is accelerating dramatically. Procurement can change how they address challenges and support stakeholders, or they can remain slow to adapt and miss out on key opportunities.
In this week’s podcast, Eric Dulin, Director of Procurement, Digital & Technology at Yum! Brands, shares how he has shifted his mindset throughout his career to focus more on building relationships and approaching procurement with a service-first attitude. He and Philip also discuss Eric’s book, Win-Win-Win: Collaborative Approach to Procurement in the Era of Digital Metamorphosis, pulling out a few quotes that can help procurement professionals reshape the way they work within their roles.
Throughout the episode, Eric uses first-hand lessons to offer transformative truths, including:
Links:
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.
“Longer term, I think people haven’t fully understood the power of generative AI beyond their own personal use cases. But now, the central theme is really testing out where it can go.” - Nick Heinzmann, Head of Research at Zip
AI has been in the mainstream long enough now that it’s time for procurement to get specific and systematic about where, when, and how to apply it to the tech stack in order to generate the most value for the business.
In this episode, Philip Ideson and Kelly Barner speak with Lance Younger, CEO of ProcureTech, and Nick Heinzmann, Head of Research at Zip, about current best practices for positioning AI in the tech stack and how procurement can navigate the inherent risks that may accompany digital transformation. They also discuss the value and benefits AI can bring to procurement, like optimizing the S2P workflow, data management, compliance, and process efficiency.
Listen in to discover:
Links:
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.
Procurement teams within private equity firms manage hundreds of portfolio teams worldwide. They must prove the value they create with each program at any given moment. With precise, robust data not always available, these teams are left to determine supplemental ways to demonstrate cost savings, capex reductions, and cost avoidance to C-suite stakeholders.
In this episode, Philip sits down with Paul Dhaliwal, Director of the U.S. Capstone Team at KKR, at the 2024 CoreTrust Conference in Tampa to discuss how GPOs play a key role in driving value and change across private equity portfolios. They also dive into how Paul and his team use GPO relationships to tell a clearer story with the data they have.
Paul shares his insight on leveraging GPOs within private equity, including:
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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.
“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:
Links:
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.
“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:
Links:
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.
“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:
Links:
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.