Art of Procurement

The Procurement Revolution is less than two weeks away!  I am busily recording content from thought leaders around the world who have inspiring perspectives to share on how we need to challenge the status quo to survive and thrive in the new era of procurement. Listen in to today's episode to learn more about the event, the content that will be shared, and the channels we are using to get the word out. To register to join The Procurement Revolution, visit http://theprocurementrevolution.com   

Much has been written about the fact that the Millennial Generation will make up 50% of the workforce by 2020.  How to attract and retain Millennial professionals is becoming an increasingly important challenge for procurement leaders as large numbers of baby boomers retire by the day. In the first part of today's episode, I connect with M.L. Peck (of the Institute for Supply Management - ISM) and Donna Cicale (of THOMASNET.com).  We talk about the challenge of attracting Millennials into the supply chain and procurement profession, and the 30 Under 30 program that ISM and THOMASNET.com developed to showcase talented and emerging leaders. In the second part of the interview, I sit down with Amy Georgi, a Program Manager responsible for Procurement M&A at Fluke Electronics.  Amy is the current Megawatt Winner of the 30 Under 30 Program.  Firstly, Amy and I talk about procurement's role in facilitating M&A in a manufacturing environment. We then transition into a key pillar of motivation and job satisfaction for Millennial professionals - the ability to have flexibility in their work locations.  From personal experience, this is something the solicits passionate perspectives that vary wildly!  In our conversation, Amy shares tips for procurement leaders faced with employees who want and value location independence, and for professionals on how to stay in touch with the home office when working remotely. For more information, visit: http://artofprocurement.com/30under30 

How can professionals best position themselves for success in the new era of procurement?  That is the question that I explore in the second of a two part series on the factors that look to change the shape of our profession. In this episode, I explain the notion of a two-tier procurement profession, and the six different role types that I believe will be fundamental in ensuring that procurement remains relevant in times of significant change. For more information, visit http://artofprocurement.com/nextgen2

What will the future of procurement look like, and how as procurement professionals can we prepare for disruption that is heading our way?   In the first of a two part series, I explore the likelihood that procurement as a function will even exist in 10 years time - in response to a number of projections that I have recently heard about the future of our profession.   I then share my perspective on how I believe procurement will evolve, based on both my personal experiences and learnings to date from interviewing thought leaders on the Art of Procurement. For more information, visit http://artofprocurement.com/nextgen1 

On today's Art of Procurement, I welcome Coupa President and CEO Rob Bernshteyn to the show. In our discussion, Rob and I focus on the concept of value as a service, and the benefits of focusing on delivering outcomes rather than tasks. I then question Rob on what procurement leaders can apply from the concept of value of a service as they look to build a more stakeholder orientated procurement delivery model and the capabilities that underpin it. For more information, visit http://artofprocurement.com/valueasaservice 

As a Buyer, a key factor in my sourcing decisions was the size of the supplier.  While it is arguably the greatest piece of marketing of all time, the fact that “nobody ever got fired for buying IBM” was often at the forefront of my mind.  I had a number of reasons for taking this approach – some real, some perceived.  In today’s Art of Procurement, I explore the reality of working with small and medium sized businesses with Tom Greco and Ed Edwards of THOMASNET.com.  First, Tom and Ed explain which of my fears were based on fact, and which were in my mind only. They then provide guidance on how I could have mitigated the risks that are present to take advantage of the benefits that working with small and medium sized businesses provides. We then move to the other side of the table.  How do small and medium sized businesses feel about working with larger procurement functions.  The answers surprised me.  In essence, smaller companies fear working with larger organizations as much as I did with them.  So how can we break the cycle?  In the final part of the discussion, Tom and Ed provide their insights into how we as procurement professionals can more effectively facilitate the use of smaller companies to benefit from the innovations – and often lower costs – that they can often provide. For more information, visit: http://artofprocurement.com/smb 

On Wednesday of this week, I joined host Jamie Liddell (Editor in Chief at Outsource Magazine) and fellow panelists Kate Vitasek (Vested) and Don Ryan (KPMG) on this month’s Outsource Talks Q&A webinar. During the webinar, I answered questions from Jamie related to the current challenges that CPO’s are facing, and the evolution (and future) of procurement outsourcing.  My favorite was a question on how I would structure the sourcing organization if a Fortune 50 company with a huge budget came knocking at my door! When Jamie approached me to be a panelist on Outsourcing Talks, I thought it would be fun if we continued the discussion on the Art of Procurement.  So in today’s show, I turn the tables on Jamie and put him in the hot seat!  In the webinar, it was suggested that technological change will lead to a revolution in the way organizations access business services.  I ask Jamie if this is hype, or reality.  We also discuss the ongoing implications of Brexit, and I ask Jamie if his perspective has changed since he wrote passionately against Brexit the morning after the vote. For more information, visit: http://artofprocurement.com/outsourcetalks 

As the Co-Founder, Chairman and CEO of Tradeshift, Christian Lanng is on the front lines of the technology evolution, and he gets to see first-hand the impact that innovative technology is having – and will have - on the enterprise. In today’s Art of Procurement podcast, I sit down with Christian to understand what this will mean for procurement. If Christian’s vision materializes, it will mean a seismic shift is in store for our profession over the next 10 years. In this episode, you will learn: Why the measure of procurement’s success will become the cost to change suppliers, not the cost savings achieved from your existing suppliers. Why we will stop buying products and services, and start buying outcomes. How we will need to think more like a data scientist, analyzing new and expanding sources of information to determine the projects and transactions that matter, and that require human interaction. How organizations will transition from current delivery models to accessing procurement talent on-demand, using talent marketplaces. Why Christian believes that procurement leaders can turn their retained staff into a profit center by selling that expertize to non-competitors. The benefits of a platform & applications approach when building your procurement technology infrastructure. Why we are already in the "summer" of bots, and why AI will be the technology that has the biggest impact on procurement. Why the procurement professional of the future will need to be "problem solvers" and "opportunists". For more information, visit: http://artofprocurement.com/tradeshift