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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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Art of Procurement
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Now displaying: Page 24
Nov 18, 2016

Today's episode is in response to a listener question.  I was recently asked for guidance on how to maintain supplier relationships following a tough incumbent negotiation - particularly one that occurs mid-contract. 

Listen in to hear my share five considerations that I have used both as a practitioner and service provider to maintain relationships with my suppliers and clients following difficult negotiations.

For more information, visit: http://artofprocurement.com/toughnegotiation 

Nov 15, 2016

Jimmy Anklesaria is one of the most prominent thought leaders in procurement today.  Jimmy is considered by many as the go-to expert when it comes to the strategic management of cost. He literally wrote the book (well, two books), and regularly travels the globe helping organizations reduce their third party costs.  Importantly, he does this not through the leveraging of power but by using data as the foundation of fact based sourcing and continuous improvement.

Today’s episode of the Art of Procurement is the second in a two-part series with Jimmy focusing on the strategic management of cost.  

Back in episode 102, Jimmy shared his tips for understanding cost and cost drivers to enable fact based sourcing negotiations.  Today, we shift focus, and discuss eight key steps that procurement professionals can take to manage and optimize costs once the contract has been signed.

Areas we cover include:

  • Should we have clauses in contracts that enable flexible pricing as major cost drivers change? If so, how should those be structured?
  • Why a consumer price index (CPI) is the worst possible mechanism by which to adjust prices.
  • The eight steps that procurement professionals can use to manage cost post contracting including
    • Building a cost-management culture with your supplier
    • Identifying the factors which have the biggest impact on the cost of a product or service
    • How to reduce, change or eliminate activities that create costs.
  • The importance of inherent capabilities in building a cost management culture across your procurement organization.

For more information, visit: http://artofprocurement.com/postawardcost

 

Nov 11, 2016

I sat down to record today's episode just a couple of hours after Donald Trump emerged victorious in the US presidential election.  And today, I am going to replay a discussion with CPO and former Chief Risk Officer Susan Grelling that I first published in the aftermath of the UK Brexit vote early in the year.

In our conversation, Susan shared the steps that procurement can take to help our organizations turn the management of market uncertainty and volatility into a competitive advantage.

For more information, visit: http://artofprocurement.com/trumpelected

 

 

Nov 8, 2016

In today’s Art of Procurement we take a look inside the career journey of Alex Brown, long time Chief Procurement Officer for Advanced Micro Devices (AMD) and GLOBALFOUNDRIES, and winner of the 2013 Zycus High Performing Procurement Leader award.

In this wide ranging discussion focused on developing a long term career in procurement, Alex shares a number of key decision points that he had to make on his journey to becoming a CPO.  

Listen in to the conversation to hear Alex’s perspective on a number of issues facing today’s procurement professional, including: 

  • The value of having sales experience as a differentiator within procurement.
  • Is there value in pursuing a professional procurement certification?
  • The importance of “destabilizing” from your comfort zone.
  • How you can lead transformation programs as a legacy employee.
  • The keys for a Manager to put themselves in the best possible position to become a Director, and for a Director to become a Head of Procurement / CPO.
  • The importance of dedicating enough time as a leader to the forward looking and strategic aspects of a job in face of the demands to solve today’s problems.
  • The two things that Alex knows now that he wished he would have known earlier in his career.

For more information, visit: http://artofprocurement.com/careerdecisions

Nov 4, 2016

Today is the Art of Procurement's first birthday!

What a crazy, and rewarding, 12 months it has been.  

Today I go behind the scenes at the Art of Procurement.  I look back at the first 12 months and reflect how the show has evolved over the past 12 months - and importantly what are some of the lessons that I have learned.  Not procurement lessons, but lessons from my journey as a podcast host.

I then look forward to 2017.  What are some of the things I want to do better?  If you are interested in my vision for the next 12 months, I'm happy to share, warts and all!

Thanks for joining my on this journey to help elevate the role of procurement.  I have learned A TON, and I hope you have too!

For more information, visit: http://artofprocurement.com/turning1 

Nov 1, 2016

Jimmy Anklesaria is one of the most prominent thought leaders in procurement today.  Jimmy is considered by many as the go-to expert when it comes to the strategic management of cost. He literally wrote the book (well, two books), and regularly travels the globe helping organizations reduce their third party costs.  Importantly, he does this not through the leveraging of power but by using data as the foundation of fact based sourcing and continuous improvement. 

Jimmy had so much information to share that we recorded two separate shows!  These cover the strategic management of cost from initial sourcing to end of contract. 

Today, we focus on the initial sourcing and negotiation process. Jimmy shares a number of insights, including:

  • Why as a young company Director he did not understand the importance of procurement, and what his light bulb moment was.
  • The most important part of the negotiation process
  • Why business deals have to be win-win to be sustainable over the long term
  • What a procurement professional can do to better understand the cost of a product or service before they begin a negotiation
  • How you can use publicly available information to develop should-cost models based on understanding key cost drivers
  • Whether you need to pay for data or not.
  • Why, while you can acquire data from third parties or a central COE, a procurement professional must not abdicate responsibility for understanding the costs and cost drivers of a product or service.

This conversation was an eye-opener for me, particularly as we consider how to apply cost management techniques that are prevalent in the procurement of Direct materials to Indirect services.

For more information, visit http://artofprocurement.com/costmanagement 

Oct 28, 2016

I was thrilled to be a part of the Zycus event as the media partner for the conference. As part of the partnership, I was able to moderate a main stage panel event and present a separate session in the leadership tract. In today's episode, I provide an overview of the two sessions that I was involved in.

I also share my key takeaways from the activities that I was able to attend - with topics such as the Internet of Things, Relevancy of Procurement, Procurement Innovation and the role of technology in procurement as a competitive advantage (the answer may surprise you).

For more information, and to download a copy of my slides from session that I led, visit http://artofprocurement.com/horizontakeaways 

 

Oct 21, 2016

Unless you are new to the show, you will have heard me talk all about The Procurement Revolution event that I co-organized with Kelly Barner of Buyers Meeting Point. 

We were thrilled with how the event panned out. We had 40 revolutionaries, over 50 pieces of content and five live Q&A interviews throughout the week. 

We learned a ton from the things that went well, and the things that didn’t.  One of my regrets was that I wasn’t able to dedicate as much time as I would have liked to pull together all the disparate submissions into some key call’s to action. 

So, what I thought I would do today is to share four different takeaways that I took from all the great submissions that we received. 

For more information, visit: http://artofprocurement.com/TPRtakeaways

 

Oct 18, 2016

Carlson Rezidor - one of the largest hotel groups in the world with brands such as Radisson and Park Place – embarked on a path to identify, build and deploy a global source to pay platform in mid-2015.

I am joined on the Art of Procurement today by Scott Deibert, the SVP of Procurement, and Bart Baetens, Director of E-Procurement for Carlson Residor.

In today’s show, we chronicle their journey. I ask Scott and Bart to share the key decision points and lessons learned, as the sought to transform their global procurement technology stack. 

Topics that we discussed include:

  • Why did Carlson Rezidor decide to pivot from their existing technology stack to a new solution.
  • Why did they decide to source an end to end suite rather than a series of point solutions.
  • What was their key criteria for selecting the platform that they ultimately chose?
  • What were some of their key challenges as they deployed and rolled out the platform?
  • What would they do differently?
  • What is the once area that they still continue to struggle with.
  • How are they planning to continue to leverage procurement tech post roll-out – what is the #1 technology capability that is on the horizon that they want to take advantage of.

If you are interested in the practical side of procurement technology – and the realities of embarking on a S2P transformation, you will not want to miss today’s show!

For more information, visit: http://artofprocurement.com/techtransformation

Oct 14, 2016

Today’s episode is the second in a two-part series considering Category Management: what we can do not only to implement Category Management, but also do so in a way that is sustainable over the long term.

The reason why I think this is important is that often I have seen Category Management implemented for the right reasons, but after the initial burst of energy and picking the low hanging fruit, it becomes difficult to keep the momentum going and provide value in other ways.

Today’s guests on the show are Lynn Rideout, Senior Manager of Category Management, and Chris Eyerman, Senior Director of Program Management, both at Denali Sourcing Services.  In part two of this two-part series, we discuss three key imperatives for a Category Manager that are required to become a trusted advisor:

1. Know Your Stakeholders

2. Understand Your Categories

3. Deliver Results 

 

For more information, visit http://artofprocurement.com/categorymanagement

 

Oct 11, 2016

Today’s episode is the first in a two-part series considering Category Management: what we can do not only to implement Category Management, but also do so in a way that is sustainable over the long term.

The reason why I think this is important is that often I have seen Category Management implemented for the right reasons, but after the initial burst of energy and picking the low hanging fruit, it becomes difficult to keep the momentum going and provide value in other ways.

Today’s guests on the show are Lynn Rideout, Senior Manager of Category Management, and Chris Eyerman, Senior Director of Program Management, both at Denali Sourcing Services.  In part one of this two-part series, we discuss the building blocks that are required to build a strategic and sustainable Category Management capability.

Specifically, we will discuss:

  • Why Lynn and Chris believe that Category Management is a fundamental shift in the way an organization approaches procurement rather than an extension of the sourcing process.
  • The journey to building a sustainable category management program and the failure modes that impact an organizations ability to launch, sustain and scale.
  • A deep dive into the building blocks of strategic category management, covering vision process, governance and capabilities. 

If you are interested in hearing how you can use Category Management to make a difference to your stakeholders, today’s show is for you.

 

For more information, visit http://artofprocurement.com/CMpart1

Oct 7, 2016

Back in early September, the Art of Procurement left the recording studio and went live for the first time with a webinar that I hosted with a friend of the show, RFP365. 

The theme of the webinar was Weighted Scoring.  Specifically, how you can use weighted scoring as part of your sourcing process, to help make decisions based on facts, rather than feelings.

The webinar was broadly split into a couple of different parts – I was asking the questions of RFP365 in terms of technology – how can you set up your RFP’s to enable weighted scoring – and then my co-presenters turned the tables and asked a number of questions of my in terms of the practicalities.

Today I am sharing the part of the webinar where I was asked the questions. 

You will hear Anna Spady and Dave Hulsen – both Art of Procurement alumni – asking me a number of questions such as my thoughts on how to avoid biased questions, scoring mistakes, when is weighted scoring not appropriate and what to do when the top scoring supplier is not selected.

For more information, visit: http://artofprocurement.com/RFPscoring

 

Oct 4, 2016

Corporate Social Responsibility – or CSR – is a key value lever that procurement can pull to differentiate ourselves from the perceptions of the past, and that can enable us to play a role in revenue generation, not just cost reduction.  Indeed, how companies approach their CSR commitments will play an ever increasing role in the way that they are perceived by their target customers, impacting brand value and ultimately pricing power.

In today’s Art of Procurement, I am joined by Jason Pearson, the President & CEO of the Sustainable Purchasing Leadership Council (SPLC).

From my experience, influencing and managing supply chain sustainability – covering both Direct and Indirect spend categories - is something that as a procurement community we have not yet tackled head on.  Examples of success are limited to a few leading edge procurement teams.

So in today’s episode, I wanted to explore what we – as procurement professionals and leaders – could do to integrate sustainable thinking into the way that our organizations buy.

In my conversation with Jason, we discuss:

  • Why is supply chain sustainability so important?
  • What can procurement leaders do to make sustainability a prioritization for their organizations (Jason recommends a number of case studies for further reading).
  • How can we initiate cross-sector collaboration to address sustainability issues that impact all the players in our industry but that require an industry wide response?
  • How can procurement leaders prioritize sustainability initiatives – for example, by supplier or by category?
  • The eight Direct and Indirect spend categories that lend themselves to sustainability initiatives, particularly when you are looking to start a program and are seeking early wins.
  • The impact that legislation is having – and will continue to have – on how we building sustainability into our scoping and sourcing activities.

For more information, visit http://artofprocurement.com/SPLC

Sep 30, 2016

Today is the last day that content will be published in support of The Procurement Revolution event. We have had 40 revolutionaries share their perspective on such as wide variety of topics – tactical, strategic and a little bit of crystal ball gazing too!

There was a particular submission from the event that I think embodies my thoughts on what the role of procurement really is - and why change must come from within. 

It was recorded by Pierre Lapree, the Founder of a procurement performance management SaaS business called Per Angusta. When I received Pierre’s submission I could not help but be inspired.  Listen in, and I hope you are inspired too!

For more information, visit: http://artofprocurement.com/EP93

 

Sep 27, 2016

Back in 2012, Sylvain Mansotte received the call from the newly appointed CPO of a large Australian based construction company to assist in the building a new procurement function.  He jumped at the chance, and one of his first priorities was to understand his new employers’ third party spend profile.

Within 2 months, Sylvain had uncovered a $20M fraud that spanned 12 years and led to the perpetrator – a finance executive with 30 years of experience in the company – admitting to the crime, and ultimately being sentenced to 15 years in prison.

Today’s Art of Procurement is Sylvain’s story.  Sylvain discusses how he uncovered the fraud, and the decisions he had to make in blowing the whistle.

We then talk more specifically about procurement fraud.  Sylvain shares a number of fraud red flags, and provides tips on how you can ensure you have an environment where a whistleblower feels safe in coming forward if they have information to share.

The experience inspired Sylvain to found Whispli, a two-way platform that enables the anonymous communication of sensitive information.  Originally designed as a tool to help whistleblowers report potential frauds without fear of recriminations, the platform is now being used across many industries, including helping students anonymously report bullying or harassment at school.

Sylvain’s story is absorbing, and also a wakeup call to realize that procurement fraud is real, and that any one of us in the profession may find ourselves in the same position as Sylvain at any time, given the nature of our roles. 

For more information, visit: http://artofprocurement.com/fraud 

Sep 23, 2016

It has been all hands on deck this week preparing for The Procurement Revolution. In the course of recording content, there was a piece that I just couldn’t wait for next week to publish.  So, I thought I would hand over the reins of the Art of Procurement Friday Show today to Kate Vitasek.  

Kate is a faculty member in the University of Tennessee’s Graduate and Executive Education programs, and founder and lead researcher for the Vested business methodology.

I asked Kate to provide her perspective on an area that she believes we need to think differently about to help us to continue to mature as a profession.  Listen in to hear Kate explain the concept of sourcing business models, and why different sourcing approaches are needed based on the nature of the relationship you are trying to build with the selected supplier.

For more information, visit http://theprocurementrevolution.com

Sep 16, 2016

The Procurement Revolution is less than two weeks away!  I am busily recording content from thought leaders around the world who have inspiring perspectives to share on how we need to challenge the status quo to survive and thrive in the new era of procurement.

Listen in to today's episode to learn more about the event, the content that will be shared, and the channels we are using to get the word out.

To register to join The Procurement Revolution, visit http://theprocurementrevolution.com 

 

Sep 13, 2016

Much has been written about the fact that the Millennial Generation will make up 50% of the workforce by 2020.  How to attract and retain Millennial professionals is becoming an increasingly important challenge for procurement leaders as large numbers of baby boomers retire by the day.

In the first part of today's episode, I connect with M.L. Peck (of the Institute for Supply Management - ISM) and Donna Cicale (of THOMASNET.com).  We talk about the challenge of attracting Millennials into the supply chain and procurement profession, and the 30 Under 30 program that ISM and THOMASNET.com developed to showcase talented and emerging leaders.

In the second part of the interview, I sit down with Amy Georgi, a Program Manager responsible for Procurement M&A at Fluke Electronics.  Amy is the current Megawatt Winner of the 30 Under 30 Program.  Firstly, Amy and I talk about procurement's role in facilitating M&A in a manufacturing environment. We then transition into a key pillar of motivation and job satisfaction for Millennial professionals - the ability to have flexibility in their work locations.  From personal experience, this is something the solicits passionate perspectives that vary wildly!  In our conversation, Amy shares tips for procurement leaders faced with employees who want and value location independence, and for professionals on how to stay in touch with the home office when working remotely.

For more information, visit: http://artofprocurement.com/30under30 

Sep 9, 2016

How can professionals best position themselves for success in the new era of procurement?  That is the question that I explore in the second of a two part series on the factors that look to change the shape of our profession.

In this episode, I explain the notion of a two-tier procurement profession, and the six different role types that I believe will be fundamental in ensuring that procurement remains relevant in times of significant change.

For more information, visit http://artofprocurement.com/nextgen2

Sep 2, 2016

What will the future of procurement look like, and how as procurement professionals can we prepare for disruption that is heading our way?  

In the first of a two part series, I explore the likelihood that procurement as a function will even exist in 10 years time - in response to a number of projections that I have recently heard about the future of our profession.  

I then share my perspective on how I believe procurement will evolve, based on both my personal experiences and learnings to date from interviewing thought leaders on the Art of Procurement.

For more information, visit http://artofprocurement.com/nextgen1 

Aug 26, 2016

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 

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