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.
As companies face the weight of inflation and the potential for recession, executives are reevaluating their decentralized approaches to procurement management and decision making. Instead, many organizations are making the move back toward centralized procurement models to keep a sharp eye on the bottom line. The focus has shifted from viewing cost savings as a 'nice-to-have' to a necessity for operational continuity.
In this episode, based on a recent AOP Live session, Mu Wagh, Chief Operating Officer at Procure Analytics, and Matt Reddington, their Vice President of Operations, discuss how a strong corporate culture can help companies navigate challenging economic times as they transition to centralized control in procurement.
Mu and Matt provide valuable advice on how to strike a balance in the transition to centralized control without adding friction into the procurement process or doing harm to the organizational culture.
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.
“If the C-suite doesn't understand the full procurement value proposition, then they will make decisions that impact procurement without really understanding the negative effects of those decisions.”
Philip Ideson, Founder & Managing Director, Art of Procurement
Believe it or not, 2023 if officially halfway over. It seems like just yesterday (or 10 years ago) that we were sharing our first podcast episode of the new year.
In this week’s episode, Philip Ideson and Kelly Barner sit down to talk about the half of the year gone by as well as what they think the second half of 2023 has in store.
They talk about:
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 pandemic made everything about value. I believe that all healthcare premises – along with insurance systems and the patients themselves – became much more focused on the concept of value.”
Few industries faced the same level of challenge that healthcare did during the pandemic. Everyone from doctors, to support staff, to procurement was pushed to do their best on behalf of patients. As they cooperated to overcome these difficulties, each stakeholder group was changing a little bit - sometimes in ways that would alter their perspective on the experience forever.
In this episode, Philip Ideson interviews Heba Farouk, Chief Supply Chain Officer for Saudi German Health and one of the first practitioner executives Art of Procurement has featured from the Middle East. She shares her firsthand experience with the operational and perception-based evolution of procurement and supply chain in the healthcare industry.
During the conversation, they discussed:
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.
“To increase confidence within the C-suite, procurement must show it can work within the business to address internal risks and create value. Procurement teams need to meet their internal stakeholders where they are and break down the barriers that prevent them from achieving the best outcomes for the business.”
The global procurement landscape is rapidly evolving to better align with the strategic vision and mission of the organization. Business leaders value the impact that procurement teams can have in their organizations, and they’re especially pleased with procurement’s ability to tackle external risk. However, confidence wanes when they consider procurement’s ability to collaborate internally.
At SAP Sapphire 2023, Philip Ideson had the opportunity to speak with Baber Farooq, Senior Vice President and Head of Market Strategy for SAP Procurement Solutions. They discussed the findings of a new research study by Economist Impact: Decoding Confidence in the Procurement Function. The study surveyed 500 executives, including CFOs, COOs, CPOs, CSCOs, and CHROs in early 2023 and the resulting report explores how these executives perceive procurement’s performance today and how it needs to evolve for the future.
During the conversation they discussed:
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.
There are few categories of spend as large and operationally complex as construction. From different sourcing models, to right timelines, to a whole host of contractors and subcontractors to coordinate, procurement has to walk a fine line between being a roadblock and advocating for active spend management.
Neha Kumar has experience working for companies like Barclays, Bloomberg, Deutsche Bank and Sumitomo Mitsui Banking Corporation across the corporate services, facilities, and real estate categories. Most recently her focus has been on construction.
In this episode, Neha takes Philip Ideson on a journey through the peculiarities of construction procurement - the first time we have covered this category on the podcast!
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.
In this week’s episode, we’re featuring a crossover from Dial P for Procurement - a show hosted by Kelly Barner every week on the Art of Procurement platform.
Dial P for Procurement is for anyone with an appreciation for business storytelling who isn’t afraid to take a closer look at tough topics. It is also part of the LinkedIn Presents network, which features a limited number of shows hand-selected by LinkedIn to be a part of their own podcast programming.
This particular episode tells the true story of what happened when Kraft Heinz procurement ran afoul of the SEC by illegally securing and reporting on supplier cost savings. It led to significant turnover at the executive level - including the CEO - as well as the restatement of two years’ worth of financial statements.
Listen in and then subscribe to Dial P for Procurement wherever you listen to podcasts!
Links:
Listen to Dial P on Art of Procurement
Subscribe to the Dial P for Procurement LinkedIn newsletter
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.
According to 2022 research conducted by Economist Impact and commissioned by SAP, risk reduction is a top priority for corporate leadership.
38 percent of C-suite executives view risk reduction as a way to deliver increased value through procurement. Do the other 62 percent recognize the role procurement plays in risk management?
In this episode based on an AOP Live session, Philip Ideson and Kelly Barner are joined by Gordon Donovan, Global Market Research Director, Procurement and External Workforce at SAP, and Matthew Montgomery, Solution Management Director, Supplier Lifecycle & Third Party Risk Management at SAP.
They answered live audience questions about:
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 procurement talent space has been on a rollercoaster over the last couple of years.
First the pandemic disrupted everything, then companies started making a grab for procurement talent - in many cases hiring people before meeting them. Demand and salaries shot up in parallel. Then, at the end of last year, economic headwinds led to a correction and hiring slowed. There have even been layoffs in some sectors.
Where does all of that leave the procurement talent market today?
In this episode, Philip Ideson is joined by Andrew Daley, Managing Director of Digital Procurement and Supply Chain at Edbury Daley and a returning guest. Edbury Daley is a specialist recruitment consultancy formed in 2005, and Andrew is one of the most well-connected procurement professionals in the UK.
Andrew shares his up-to-the-moment perspective on:
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 concept of a ‘business ecosystem’ has changed over time. In the early days, a business ecosystem would bring together enterprise technology and implementation partners, easing the transition and accelerating value realization.
Today, however, business ecosystems are far more expansive. They include both software and service partners that are able to support a company on its digital maturity journey.
At SAP Sapphire 2023, Philip Ideson had the opportunity to sit down with Claus Gruenewald, Global Head Partner Business SAP Intelligent Spend Solutions, and Conor Mullaney, Business Advisor, Sustainability, Procurement and Supply Chain Lead at excelerateds2p.
In particular, they focused on the importance and accessibility of business ecosystems for mid-market companies:
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.
Supply chain and procurement professionals are used to supporting informed decision making, but the last few years have been far from ordinary. Decisions are being made more frequently with less time to prepare, and each one has a far greater impact on business continuity and supplier relationships.
This is even more true for direct materials. Sophisticated supply chain models and mature procurement strategy have been put to the test - each time the team must cross the ‘decision abyss’ could make the difference between competitive advantage and operational disruption.
Keith Hartley is the CEO of LevaData and Lance Younger is the CEO of ProcureTech. They spoke at a live event co-created by Art of Procurement and LevaData earlier this year: Navigating the Decision Abyss: Managing Direct Spend in Chaotic Times.
In this session, moderated by Philip Ideson, they address:
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.
There will always be things procurement does not know. Even if all of the data in the world were magically made available, there would be quality issues and analytics challenges to overcome. Data has to be validated - at scale - before the business can be confident making decisions based upon it.
In this episode, Philip Ideson is joined by Florin Tufan, Co-Founder and CEO of Veridion. Florin was recognized by the 2020 Romania Forbes 30 under 30 program for his willingness to take on the entrepreneurial risk associated with tackling the problem of firmographic data on an enterprise scale.
During this conversation, Philip and Florin discuss:
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.
According to research conducted by CADDi, 28.1 percent of procurement professionals know what should-cost analysis is, but only 4.6 percent use it. Given the critical importance of efficient direct material sourcing to manufacturing companies, these numbers justify further investigation.
In this episode, Kelly Barner is joined by Yushiro Kato, Co-Founder and CEO of CADDi. He is an advocate for should-cost analysis based on his first hand experience leveraging it as an effective cost reduction strategy and also for its potential to serve as a catalyst for collaboration with key suppliers.
Yushiro and Kelly take this opportunity to discuss:
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.