Welcome to the Arena from ICR – Conversations with Today's Innovators & Business Leaders David Pennino, Founder & CEO, LogicSource – Procure and Conquer: Behind the Scenes of Procurement Optimization
For companies with expenditures that run into the billions, strategic procurement can mean millions for the bottom line.
Today we're sitting down with David Pennino, President, CEO, Board member and Founding Partner of LogicSource, a purpose-built procurement services and technology provider focused exclusively on indirect or not-for-resale expenditures. LogicSource’s service and technology solutions drive cost reductions and efficiencies for clients across all areas of this spend, which typically add up to 20% of a company's revenue and represent a significant opportunity for profit improvement. David has over 20 years experience in the services and outsourcing industry, including roles as a senior executive at Williams Lea Group, Scient, and Gartner.
We had a great conversation about how LogicSource secures big wins for businesses, and what's next for this growing company.
Highlights:
- David explains LogicSource's operations, and what the space is like today (2:45)
- Why there's a lot of "noise" around the space at the moment (4:35)
- How LogicSource makes money (5:54)
- Some specifics about how they unlock savings (8:34)
- The misconception that a company like LogicSource might slow down operations for companies (10:46)
- How they differ from consultants (13:17)
- The sensitive area of cost-cutting through eliminating roles (14:15)
- The tech LogicSource developed for their clients and services (16:13)
- David discusses the use of AI in this industry (19:11)
- What David sees in procurement in the next 5-10 years (22:30)
- David's aspirations for LogicSource (24:42)
- The team and culture at LogicSource (26:38)
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If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.