Edmund Zagorin of Arkestro and Len DeCandia of Johnson & Johnson discuss procurement challenges, talent acquisition, data accuracy, and the impact of global geopolitical challenges on supply chains. They emphasize the transformative potential of AI in procurement, predictive maintenance, and the importance of storytelling for AI adoption.
Read more
AI Summary
Highlights
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Leading procurement teams need individuals skilled in data analytics and soft skills for tactical and strategic thinking.
Organizations must invest in procurement systems and talent to adapt to evolving global landscapes.
Deep dives
Challenges in Leading Procurement Teams
Leading procurement teams in 2024 demands a delicate balance of finding skilled individuals proficient in data analytics and soft skills, capable of both tactical and strategic thinking. Procurement leaders face challenges in data quality, especially between plant locations and corporate procurement, leading to duplicate or missing records. Companies are focusing on transformational projects to understand spending on an item level globally, which is crucial for multinationals striving for operational efficiency.
Impact of Global Issues on Decision-Making
Len emphasizes the current macro issues affecting supply chains, such as geopolitical challenges, climate impact, and demographic shifts leading to talent scarcity. Organizations need to rebalance investments towards supplier relationships and employee experience to navigate these challenges successfully. Len stresses the need for strategic investments in procurement systems and talent to adapt to a constantly evolving global landscape.
Transformative Role of Technology in Procurement
Len discusses the historical shift from large ERP systems to cloud-based technologies managed by third parties, placing a greater emphasis on procurement's role in leveraging external competencies and skills across the organization. This shift highlights the need for integrating technology to enhance supplier relationships and drive operational efficiencies, emphasizing predictive procurement orchestration and granular demand forecasting.
Culture Change and Leadership in Procurement
Culture plays a pivotal role in procurement transformations, requiring strong leadership sponsorship and navigating challenges posed by resistance to change. Len highlights the importance of culture change in equipping procurement leaders and teams with the skills to leverage AI technologies effectively. The focus on empowering teams to manage supplier relationships and drive efficiency through transparent data fosters a collaborative and strategic procurement approach.
Today’s guests are Arkestro Founder & Chief Strategy Officer Edmund Zagorin and Johnson & Johnson Chief Procurement Officer Len DeCandia. Arkestro is an AI-driven startup in the procurement space with broad partnerships across the automotive, construction, and manufacturing sectors. Together, the two discuss procurement from a distinct leadership perspective and the broad range of challenges, from keeping talent ahead of scaling to the post-pandemic realities of recovering supply chains. If you’ve enjoyed or benefited from some of the insights of this episode, consider leaving us a five-star review on Apple Podcasts, and let us know what you learned, found helpful, or liked most about this show!
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode