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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 3
Nov 20, 2023

“Today, if we’re recruiting fresh talent, the right resource pool is not available. That talent incubation is not happening, which primarily means we need universities recognizing procurement as a discipline and making sure that individuals acquire a certain level of skills and are ready to be injected into the corporate setup.” - Nishish Saxena, Head of Terminals Procurement, India and Middle East, Maersk

For years now, procurement has often been seen as a back-office function responsible for finding and managing suppliers and cutting costs, and not as a strategic superpower that can support the overall goals and growth of the entire business. 

In part, procurement’s ‘perception problem’ and reputation as an undervalued and misunderstood function has to do with the way talent is, or isn’t, developed and how a lack of institutional and educational support is doing a collective disservice to procurement leaders and the discipline as a whole. 

Philip Ideson recently spoke with Nishish Saxena, Head of Terminals Procurement, India and Middle East, at Maersk, about his personal views on why procurement is so often undervalued as a strategic partner.

In this episode, they discuss: 

  • The evolution of procurement’s value creation potential beyond supply chain and cost management
  • How educational institutions can help establish procurement as a critical strategic business discipline and stop the perpetuation of misconceptions about their value potential
  • The core skill set procurement needs to strengthen their capabilities and elevate their brand

Links:

Nishish Saxena on LinkedIn

 

Nov 17, 2023

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.

Nov 16, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here. 

In this fourth and final episode in the series, Philip Ideson speaks with Clive R. Heal, Founder and CEO, and Bill Michels, Chief Commercial Officer, both from LavenirAI, to bring all the concepts discussed in the series together and consider the overall impact AI is and will have in shaping the future of procurement. 

Key topics include: 

  • How AI will change procurement-stakeholder and procurement-supplier relationships
  • The rise of virtual reality, augmented reality, and conversational AI in procurement
  • How procurement can embrace a new AI-powered reality

Links:

 

Nov 15, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.  

In the third episode, Philip Ideson is joined by Bill Michels, Chief Commercial Officer at LavenirAI, to talk about how procurement can leverage automation to be more successful.

Key topics include:

  • Embracing automation to achieve next-level efficiency and stronger data sets
  • Stronger predictive analytics, forecasting, and planning through automation
  • The rise of data scientists and automation specialists as key players in procurement

Links:

 

Nov 14, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here.  

In this second episode, Philip Ideson is joined by Bill Michels, Chief Commercial Officer at LavenirAI, to discuss the impact of automation on procurement and how procurement needs to adapt their skills to thrive in an increasingly automated, AI-powered world. 

Key topics include:

  • Procurement’s most valuable skills going forward
  • Where procurement should invest in skills development today
  • The impact of AI on job functions, individual roles, and hiring

Links:

 

Nov 13, 2023

In this four-part special series, host Philip Ideson speaks with members of the LavenirAI team about the current and future impact of AI on procurement. In each episode, they explore key aspects of the topic to prepare procurement for the changes to come, and for the changes that are already here. 

In this first episode, Philip is joined by Clive R. Heal, Founder and CEO at LavenirAI, to explore what the procurement metaverse is, how to leverage it, and the transformational impact it is already having on procurement today.

Key topics include:

  • The procurement metaverse, what it is and how it will impact procurement’s day-to-day
  • Procurement’s skill set of the future
  • Embracing opportunity and facing fears around AI

Links:

Nov 10, 2023

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.

Nov 6, 2023

“We have the opportunity to do more, to shape the role of the procurement, shape the expectations that the C-suite has of procurement, define what procurement can do, and link that to the other capabilities that procurement has. That’s what a good procurement roadmap should do.” - Len Prokopets, Managing Director, Procurement and Outsourcing Advisory at KPMG

Procurement has experienced unprecedented change and disruption in the past several years. Procurement operating models and priorities continue to evolve as new trends take hold, including economic turmoil, ESG, supply disruptions, shifting workforce dynamics, new regulatory requirements, and technology innovations such as generative AI. 

Procurement must navigate these changes to help the broader organization adapt, innovate, and deliver.

To help their clients understand this changing environment and benchmark their strategies and investment priorities, KPMG recently conducted a survey of 400 global procurement leaders. The study captured insights on procurement’s current challenges, goals, and priorities as well as the path forward.

In this episode, based on an AOP Live session, Dipan Karumsi, Principal and Leader of Procurement and Outsourcing Advisory at KPMG, and Len Prokopets, Managing Director, Procurement and Outsourcing Advisory, discuss key market insights from the survey with Philip Ideson and Kelly Barner.

Their guidance for forward-looking procurement leaders includes:

  • The key investments that procurement leaders are making in response to today’s challenges and priorities 
  • What savings levels procurement organizations are targeting going forward
  • How procurement budgets and headcount are likely to change
  • Emerging technologies being adopted and implemented

Links:

 

Nov 3, 2023

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.

Oct 30, 2023

“It's important for providers to understand it’s not just about providing technology, but a solution that actually drives value. They have a responsibility to ensure that the implementation and adoption go well because it has a long-term effect.”  - Chris Sawchuk, Principal and Global Procurement Advisory Practice Leader at The Hackett Group


Evaluating P2P solution providers can be challenging, but it is critical for procurement to tailor how they assess and select their solutions to the specific needs and expectations of their stakeholders. Procurement should look for solution providers that fit into ongoing transformation initiatives and align with their organization’s maturity level while also relying on data-driven benchmarking to evaluate their best options.

Philip Ideson recently spoke with Andy Warzecha, Principal and Chief Market Intelligence Officer, Christopher Sawchuk, Principal and Global Procurement Advisory Practice Leader, and Rick Gardner, Director, from The Hackett Group. They discussed how procurement can implement The Hackett Value Matrix to create new opportunities for innovation and improvement. 

In this conversation they address: 

  • How to drive more cost savings and value for the organization
  • The impact of AI in the procurement solution space
  • How to increase adoption to achieve greater spend visibility
  • Procurement’s ability to generate value beyond savings

 

Links:

 

Oct 27, 2023

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.

Oct 23, 2023

“Developing trustworthy and reliable suppliers is critical to your business, and maintaining those relationships is beneficial to the organization as a whole.” - Saurabh Mehta, Chief Revenue Officer and Managing Partner of Ops and Performance at Consus Global 

Developing strong supplier relationships can have a profound impact on the overall health of a business and it is one of procurement’s most critical responsibilities. 

While a certain subset of suppliers may fulfill a tactical role, others have the potential to be true collaborators alongside procurement in driving value for the business - if procurement can undergo a mindset shift in the way they think about, approach, value, and measure supplier relationships. 

In this episode, based on an Art of Procurement webinar, Kelly Barner explores this mindset shift with Saurabh Mehta, Chief Revenue Officer and Managing Partner of Ops and Performance, and Manish Agarwal, Vice President of Supply Chain, both from Consus Global. 

In the episode, they discuss:

  • How and in what ways supplier relationships have changed in recent years
  • Why procurement should work to understand the supplier’s perspective
  • How a strong supplier relationship does (or doesn’t) affect pricing
  • Tactical and strategic tips for building strong, healthy relationships with suppliers

 

Links:

 

Oct 20, 2023

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.

Oct 16, 2023

“You need to know your suppliers, what they can and what they can’t do, and what they’re ready to do on top of the relationship you have every day. In an unstable supply chain, you need to invent new rules.” - Olivier Berrouiguet, President & CEO, Synertrade

The increasing complexity and volatility in the global supply chain is putting more pressure on procurement to level up their approach to risk management. But resource-constrained teams and a varied network of stakeholders with different understandings of “risk” means procurement has to work smarter, not harder, to be successful. 

Philip Ideson recently spoke with Olivier Berrouiguet, President and CEO of Synertrade, to get his perspective on how procurement can improve their approach to third party risk management and, perhaps most importantly, how they can adjust their strategy to meet the needs of the moment, which is increasingly defined by instability, risk, and disruption. 

In this podcast episode, Philip and Olivier discuss:

  • How sustained supply chain volatility is changing the way procurement should approach risk management
  • The often overlooked connection between supplier relationship management and supply chain risk management
  • Why a more holistic approach to risk management is needed for direct, indirect, and services procurement
  • The role of technology and generative AI in shaping the future of risk management solutions

Links:

 

Oct 13, 2023

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.

Oct 9, 2023

“If you want to be successful in what you do personally or professionally, you’ve got to manage relationships because the show goes on. You need strong relationships with contractors and suppliers that you know can deliver.” - Matt Mehler, President of PROcurement Solutions

Have you ever wondered what it is like to manage procurement for a large, high-profile venue? According to Matt Mehler, former VP of Procurement for Madison Square Garden, it’s exciting, but there’s also a tremendous amount of pressure.

Madison Square Garden is a large corporate entity that hosts hundreds of sporting and entertainment events per year, welcoming millions of people to its facilities, which also include entertainment venues off site and even in other cities.

In this podcast episode, the opening session of Categorypalooza 2023, Kelly Barner interviews Matt about the complexities and challenges that come along with managing procurement for a large venue with many different types of services.

They discuss topics like:

  • How to manage services procurement in a fast-paced, high-pressure environment
  • The pivotal role relationships play in large-scale services spend management
  • Managing expectations and measuring success in a complex organization with multiple stakeholders
  • Navigating the nuances of supplier relationship and performance management in an advertiser- or sponsor-supported organization



Links:

Oct 6, 2023

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.

Oct 2, 2023

“When you can demonstrate short-term success and communicate it – both inside and outside the company – it helps to smooth the pathway to the funding, staffing, and commitment required for longer-term impactful change.”Lois Eichacker, VP of Customer Success, Supplier.io

Supplier diversity is one of the most meaningful, impactful, and important corporate programs led by procurement, and a growing number of organizations are making supplier diversity a top priority. But creating a scalable supplier diversity program that can grow with the business, withstand changing political and economic landscapes, and sustain itself over time requires a unique set of strategies and tactics.

To better understand how procurement can build a strong supplier diversity program, Philip Ideson and Kelly Barner spoke with Daniel Dorr, VP of Marketing, and Lois Eichacker, VP of Customer Success, both from Supplier.io. As Daniel and Lois shared, a solid supplier diversity program is characterized by transparency, clear communication of expectations, and data-driven decision making.

In this episode, based on an AOP Live session, Daniel and Lois discuss: 

  • The importance of a solid spend baseline for supplier diversity growth
  • How procurement can secure buy-in from decision makers
  • Category-specific strategies for supplier diversity growth 

Links:

 

Sep 29, 2023

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.

Sep 25, 2023

“Services are relationship-based from a procurement perspective, whether that means the relationship procurement needs to have with the business to be successful or the relationship the company has with the service provider.” - Philip Ideson.

This week’s episode of the podcast provides a behind the scenes look at Art of Procurement’s ongoing research into services procurement - research that everyone in our listening audience and social following is encouraged to participate in. 

Management of services categories has changed substantially in recent years, driven by the rise of contract work, freelancing, and contingent labor. With an increasing number of professionals working remotely, the barriers to accessing external talent are undergoing yet another adjustment.

In this conversation, Philip Ideson and Kelly Barner talk through some of the data points that form the core of the survey, sharing their perspective on the business outcomes and procurement processes in question.

Procurement organizations in all industries and geographies will want to benchmark themselves against the following themes covered in the survey, which only takes 5-7 minutes to complete:

  • Ownership over ‘make v. buy’ decisions related to talent and staffing needs
  • Procurement’s consultative role in the process for establishing service specifications
  • How companies decide which services are strategic - and which are not

Links:

 

Sep 22, 2023

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.

Sep 18, 2023

“If you look at the strategic sourcing process, I think it was made for complex categories. That’s one of the things that makes this so exciting as a potential lighthouse project. It’s a great opportunity for procurement to say, ‘This is why we do this. This is all of the value we can add.’”Benjamin Lambert, Principal at Efficio

Navigating complex spend categories can be challenging for procurement – the stakes tend to be high, stakeholder resistance is real, and the category may be nuanced or unfamiliar to procurement. At the same time, complex spend categories give procurement some of the best opportunities to flex their strategic muscles and demonstrate the depth and breadth of value they can provide across the business. 

To understand how procurement should leverage the opportunity associated with complex spend categories, Philip Ideson spoke with Ben Lambert, Principal at Efficio. According to Ben, procurement needs a mindset shift when it comes to complex spend - it is time for procurement to get excited about complex spend categories rather than fearing the potential risks. 

 

In this episode, Ben and Phil talk about: 

  • What makes a category “complex”
  • How procurement can establish their reputation as a true strategic partner beyond tactical execution
  • Ways procurement can deliver maximum value even when the category is unfamiliar 

Links:

 

Sep 15, 2023

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.

Sep 11, 2023

“If this is something that you want to tackle, it is not a lone wolf-type project. You’re going to need the support of the business. Having the right partner or the right shepherd in the organization can make a really meaningful difference.”  --Brian Salkowski, Chief Operating Officer at Guidant Global

Decisions about how a company manages their external talent management program should not be taken lightly. There are many factors contributing to complexity, including varied expectations, a high bar for efficiency and effectiveness requirements, and the fact that no two people on the planet offer quite the same combination of capabilities.

In this episode, Philip Ideson and Kelly Barner interview Brian Salkowski, Chief Operating Officer at Guidant Global, and Marie France, Contingent Workforce Management and Procurement Operations Expert at Guidant Global. 

They discuss opportunities to elevate services procurement without disrupting the internal team or the stakeholders that rely upon that source of talent:

  • The impact this category of spend has on a company’s ability to operate, and the contributions it can make to procurement’s value proposition
  • How to optimize spending decisions at the intersection of multiple options and talent fulfillment models
  • The importance of gathering market intelligence and benchmarking data, making the most of quantitative and qualitative supporting facts to bolster the business case

Links:

Sep 8, 2023

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.

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