Art of Procurement

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.

"Procurement organizations that are able to master knowledge around their workflows and categories, and bring that intelligence on demand into their processes and tech, are going to really be able to get that 5x, 10x, 20x kind of performance advantage. It’s a game-changer.”  - Pierre Mitchell, Chief Research Officer and Managing Director, Spend Matters Procurement technology is a fast moving target, and well-known industry analyst Pierre Mitchell is one of a handful of highly experienced people who can provide a nuanced perspective on the evolving landscape of procure tech, both looking back at what’s been accomplished while simultaneously predicting the trends that will drive us into 2025 and beyond. In this episode, Philip Ideson speaks with Pierre, who is the Chief Research Officer and Managing Director at Spend Matters, about the critical factors impacting the procure tech market, how to avoid data paralysis, the road ahead for procurement and generative AI, and how procurement leaders can wade through a crowded, fragmented, (and still growing!) procure tech landscape.  They also discuss: The most important procure tech trends to pay attention to in 2025 What procurement leaders should look for in an intake and orchestration platform The likely outcomes, key developments, and challenges for the procure tech market in 2025 Links: Pierre Mitchell on LinkedIn Subscribe to This Week in Procurement Subscribe to Art of Procurement on YouTube  

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.

“For procurement, now is the time to raise your hand and sit at the table where your company is deciding on AI use cases, because that is going to transform your trajectory in the industry and the company.” - Mary Purk, Co-Author of "Growing Up: Navigating Generative AI’s Early Years – AI Adoption Report" by AI at Wharton It’s been two years since ChatGPT democratized AI technology access and became the most rapidly downloaded consumer application in history. Since then we’ve seen a steep acceleration of AI-driven innovation, opportunity, and concern.  Just like every other area of the business, procurement has their own unique story about the way AI continues to change the way they function and create value. In this episode, Philip Ideson speaks with Mary Purk, co-author of the recently published AI adoption report “Growing Up: Navigating Generative AI’s Early Years” by AI at Wharton and GBK Collective. The report provides data on AI adoption trends within businesses and across functions and the impact that AI is having and will have in the future.  Mary and Philip discuss: How far procurement has come since ChatGPT’s release in 2022 and where they’re headed in 2025 and beyond Why procurement managers are better positioned than any other role in the business to drive AI transformation in the next 12-18 months The pros and cons of make versus buy when weighing your organization’s approach AI-driven procurement technology The perception of AI’s impact, and what that says about opportunity within procurement to demonstrate their success and secure their future Links: Report: “Growing Up: Navigating Generative AI’s Early Years – AI Adoption Report” by AI at Wharton and GBK Collective Mary Purk on LinkedIn Microsoft AI Learning Hub Hard Fork podcast on Spotify Microsoft Podcasts Co-Intelligence: Living and Working with AI by Ethan Mollick Subscribe to This Week in Procurement Subscribe to Art of Procurement on YouTube

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.

Oliver Jones, Director of Procurement at H&Z Management Consultancy, dives deep into the essence of supplier relationship management (SRM). He emphasizes how successful procurement relies on strong relationships rather than just contracts. Jones discusses overcoming common challenges in SRM, linking metrics like risk management and ESG to supplier engagement. He also shares insights on the ideal center-led operating model and strategic supplier segmentation, showing how prioritizing relationships elevates procurement effectiveness and drives overall business success.

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.

“Every procurement journey is unique, and now we have the tools and technologies that allow us to be a lot more flexible in how we build procurement operating models so that we can truly adapt to exactly what the business needs.” – Philip Ideson, Founder and Managing Director, Art of Procurement In the hustle and bustle of end-of-year reporting, wrap ups, and planning for the year to come, it’s important for procurement to take a pause – even a very brief one – and think about how they should be reacting to some of the ‘bigger picture’ forces impacting the function and the business in general. In this episode, Philip Ideson and Kelly Barner take a look back at the recent Mastermind LIVE 2024, one of AOP’s most popular digital events of the year, where we considered some of the most important, even challenging, issues facing procurement today. They debrief each of the 6 sessions and tease out the most important insights, surprising and unexpected moments, and tactical call outs that procurement should keep in mind as they plan for 2025 and beyond.  Kelly and Philip add their own perspectives to the session topics, including: How procurement is positioning themselves for success in 2025 and how procurement operating models should evolve to clear the way for success What kinds of changes – both good and bad – we can expect to procurement roles in the coming months or years, and which jobs are least likely to survive AI How procurement can build a tech roadmap that maximizes stakeholder adoption and user satisfaction And much much more!  Links: Watch Mastermind LIVE 2024 on demand Philip Ideson on LinkedIn Kelly Barner on LinkedIn Subscribe to This Week in Procurement Subscribe to Art of Procurement on YouTube

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 not many functions, if any, other than procurement that sit in a position to both positively and negatively have such an impact on organizations, on strategy, on direction.” - Gordon Donovan In an era of increasing uncertainty and existential angst over AI, Gordon Donovan has a refreshingly optimistic view of procurement’s future. In fact, he says, procurement might just very well save the world.  While this may be a hyperbolic statement, it’s not that far off the mark, as Gordon explains to Philip Ideson in this episode of Art of Procurement.  As Gordon sees it, procurement is one of the only functions that holds the power – or privilege – to directly impact almost every corner of the business, well beyond cost. As such, how procurement approaches things like relationship building, crisis management, volatility, risk assessment, digital disruption, and strategic planning will play a huge role in determining just how successful they are in ‘saving the world.’ In this episode, Philip and Gordon also discuss: Redefining procurement as a risk function, critical to business continuity and supply chain visibility Procurement’s role in driving global supply chain trends in reshoring, nearshoring, and “friend-shoring” How establishing genuine trust with suppliers leads to bottom-line results for the business Links: Gordon Donovan on LinkedIn Subscribe to This Week in Procurement Subscribe to Art of Procurement on YouTube