"At the end of the day, we're trying to create this organization from which we have the ability to help the profession move forward with more than ever before. We think in terms of what each trend or change is going to mean to each team and what they can make of the related opportunities and challenges." - Philip Ideson, Founder & Managing Director, Art of Procurement

In this episode of the Art of Procurement podcast, Philip Ideson and Kelly Barner take a break from their usual roles interviewing procurement thought leaders and experts to reflect on the year so far in procurement, including emerging trends, economic pressures, election coverage, AI, and the always-evolving needs of the procurement community.

Philip and Kelly also discuss the recent results of an AOP survey that reveals procurement's increasing demand for quality, targeted content, and they share what they've been hearing from other procurement leaders about the impact of AI now that the "newness" has worn off and teams are getting serious about implementation, use cases, and business outcomes.

In this episode, they reflect on:

• How economic shifts and policy changes are reshaping procurement strategies and operations
• AI's practical applications in procurement and why experimentation and continuous re-evaluation are so important
• Upcoming events and projects from the Art of Procurement, including a new AOP website in the works, the official launch of AOP's YouTube channel, and a special series planned for October that will provide a comprehensive analysis of potential policy impacts to procurement and the supply chain from the U.S. presidential election

Links:

• Subscribe to This Week in Procurement
• Philip Ideson on LinkedIn
• Kelly Barner on LinkedIn

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.

"You always really need to look at people, process, and technology. If you don't look at all three and understand where you are and where you need to be in those areas, you are just going to be chasing." - Sherry Ulsh, Director, Indirect Procurement, The Hershey Company

At the CoreTrust Conference in April 2024, Philip Ideson had the opportunity to sit down with Sherry Ulsh, Director of Indirect Procurement at The Hershey Company, about a wide range of topics, including her own journey from finance to procurement, the evolving role of GPOs, and the changing skill sets required in modern procurement roles. 

Sherry shared her views on the importance of supplier relationship management and stakeholder management, both of which are reflected in her belief that procurement's value and influence in the business are best realized when they achieve a balance of people, process, and technology.

In this episode, Sherry also shares her views on: 

• How to define procurement's value proposition across different industries and organizational models
• The evolving role of GPOs, and how utilization of the GPO model today differs from in the past
• Shaping internal and external perceptions of procurement's value, and how, for example, CFOs and other C-suite leaders can influence procurement's perceived value beyond cost savings

Links:

• Sherry Ulsh on LinkedIn
• Subscribe to This Week in 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.

"If you look at the strategic sourcing process, I think it was made for complex categories. That's one of the things that makes this so exciting as a potential lighthouse project. It's a great opportunity for procurement to say, 'This is why we do this. This is all of the value we can add.'" – Benjamin Lambert, Principal at Efficio

Navigating complex spend categories can be challenging for procurement – the stakes tend to be high, stakeholder resistance is real, and the category may be nuanced or unfamiliar to procurement. At the same time, complex spend categories give procurement some of the best opportunities to flex their strategic muscles and demonstrate the depth and breadth of value they can provide across the business. 

To understand how procurement should leverage the opportunity associated with complex spend categories, Philip Ideson spoke with Ben Lambert, Principal at Efficio. According to Ben, procurement needs a mindset shift when it comes to complex spend - it is time for procurement to get excited about complex spend categories rather than fearing the potential risks. 

In this episode, Ben and Phil talk about: 

• What makes a category "complex"
• How procurement can establish their reputation as a true strategic partner beyond tactical execution
• Ways procurement can deliver maximum value even when the category is unfamiliar 

Links:

• Ben Lambert on LinkedIn
• Whitepaper: Unlocking Procurement's Opportunity in Complex Spend Categories

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 this is something that you want to tackle, it is not a lone wolf-type project. You're going to need the support of the business. Having the right partner or the right shepherd in the organization can make a really meaningful difference."  --Brian Salkowski, Chief Operating Officer at Guidant Global

Decisions about how a company manages their external talent management program should not be taken lightly. There are many factors contributing to complexity, including varied expectations, a high bar for efficiency and effectiveness requirements, and the fact that no two people on the planet offer quite the same combination of capabilities.

In this episode, Philip Ideson and Kelly Barner interview Brian Salkowski, Chief Operating Officer at Guidant Global, and Marie France, Contingent Workforce Management and Procurement Operations Expert at Guidant Global. 

They discuss opportunities to elevate services procurement without disrupting the internal team or the stakeholders that rely upon that source of talent:

• The impact this category of spend has on a company's ability to operate, and the contributions it can make to procurement's value proposition
• How to optimize spending decisions at the intersection of multiple options and talent fulfillment models
• The importance of gathering market intelligence and benchmarking data, making the most of quantitative and qualitative supporting facts to bolster the business case

Links:

• Brian Salkowski on LinkedIn
• Marie France on LinkedIn
• Watch Again: A Deliberate Path to Success through Comprehensive Talent 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.

"If you were to step back and look at the output of all these companies' RFPs, I think what you are trying to get as procurement is not these wonky proposals. You're trying to engage in a very dynamic conversation, because even in software, the way in which we configure and support and train are all really better had as a live dialogue." - Chris Mele, Managing Partner at Software Pricing Partners

Most procurement practitioners would probably acknowledge that there is plenty of room for improvement when it comes to the structure and process associated with RFPs, especially for SaaS spend. Creating a fair, level playing field in the RFP process is a common challenge, and there's often a lack of agility or customization: too much reliance on a one-size-fits-all sourcing approach.

To better understand the supplier's perspective and what pain points affect overall business outcomes, Philip Ideson spoke with Chris Mele, Managing Partner at Software Pricing Partners. Chris first appeared on the podcast two years ago to represent a sales perspective on the RFP process. In this follow-up episode, he returns to talk about improvements he has seen and to break down what is still not working. 

In this episode, Chris and Phil discuss:

• The most dysfunctional aspects of the traditional RFP process for SaaS procurement  
• Practical ways procurement can optimize the RFP process
• Whether standard RFPs are obsolete, and if so, what is might be a replacement

Why procurement should opt for a two-way dialogue instead of a one-sided RFP

Links:
Chris Mele on LinkedIn
"A Sales Perspective on Software Pricing and the RFP Process" with Chris Mele

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 largest corporations that spend the most on business travel are generally at about 75% of their 2019 spend, and they seem to be plateauing there. The growth is really coming from the small and mid-sized enterprises – those are the ones that are powering the recovery." - Scott Gillespie, Founder & CEO of tClara

The current state of business travel is in an interesting place, characterized by a healthy dose of cautious optimism and adaptability that's counter-balanced by concerns over climate implications and the rising cost of travel.

The post-pandemic "recovery" that we all expected is indeed underway, but it has also exposed some hesitancy in the market as some business travelers have grown to prefer the convenience (and low cost) of Zoom over in-person travel.   

To discuss this and more, I recently welcomed back Scott Gillespie to the podcast. Scott is the founder and CEO of tClara, a company that provides advice, thought leadership, and innovation to business travel industry stakeholders.

Scott is an industry-leading expert on travel strategy, carbon emissions, justifiable travel, traveler friction, and trip valuation. He has also worked across the travel industry and got his start in the ATK strategic sourcing practice of the 1990s while managing the corporate travel category.

Scott was first on the podcast all the way back in 2016, and we recently reconnected over a piece of research that he has undertaken called "The Justified Business Trip" that measures the ROI of individual business trips and its usage in managing travel demand.

In this episode, we also discussed the current health of the business travel category. Scott has recently attended the 2023 GBTA conference, and I started by asking him some of his takeaways from the event.

We covered things like:

• Key factors driving the recovery of the business travel industry
• Most common pain points in business travel
• Quantitative models for justifying business trip expenses
• How to differentiate low-value from high-value trips and prioritize your company's or team's travel budget accordingly

Links:

• https://www.tclara.com/register-for-tjbt
• https://www.linkedin.com/in/scottgillespie2008/

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.

"Yes, change is hard to manage and process at any level which is why I always recommend that you give change in bite-sized pieces. Bring people along the way."

• Chandell Shorter, Senior Consultant of Change Management, Corcentric

Change, especially large-scale change, can be hard, overwhelming, or even scary for some people, but it's also an inevitable part of life and work. Procurement professionals often find themselves at the very center of critical change management projects, leading change around processes, technology, talent management, and skills development, all of which can have profound effects on the company morale and culture.

How can procurement lead the business through this change without implementing it in a way that it backfires or creates resistance? 

In this episode, based on an AOP Live session, Chandell Shorter, Senior Consultant of Change Management at Corcentric, and Joe Payne, SVP Source-to-Pay at Corcentric, discussed everything procurement should know about change management with host Kelly Barner. 

They covered:

• How to create meaningful communication and training strategies that help drive change and generate support from across the business
• Why it's so important to frontload engagement and communication at the project level 
• Ways to lower common risks associated with change management, like personnel loss, concerns over cost and ROI, resistance, and skills gaps
• How the company's past relationship to change should inform procurement's approach

Links:

• Chandell Shorter on LinkedIn
• Joe Payne on LinkedIn
• Watch the live session here.

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 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 two ideal profiles for a procurement founder … you have industry veterans that live the problem, feel the pain, go out and create a solution to solve that pain. That's been a tale as old as time. … There's also serial entrepreneurs that don't have a procurement background but understand a problem and want to go study it and bring on others to help them."

In recent years, there has been an "explosion" of procurement tech startups. But not all procurement startups are able to reach their full potential.

In this episode from Digital Outcomes 2023, Philip Ideson speaks with Jack Freeman, procure tech investor and Partner at PeakSpan Capital, about the challenges and opportunities procurement tech startups face, particularly in category specialized solutions like SaaS, vertical software, finance, or construction. 

Jack shares his perspective on:

• The most common reasons procure tech startups struggle 
• Strategies for avoiding the most common roadblocks founders and CPOs face when working with or launching young or emerging technologies
• The skills and background procurement tech founders should develop to successfully raise the capital they need to scale their technologies and go to market
• The nuances of what makes a successful procure tech founder

Links:

• Jack Freeman on LinkedIn
• Watch Digital Outcomes 2023 on Demand

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. 

• Strategies to increase compliance without disrupting procurement teams
• Tracking savings and spend analysis as a measure of purchasing efficiency and procurement success
• Establishing feedback mechanisms from different user groups to ensure procurement delivers what they need

Links:

• Mu Wagh on LinkedIn
• Matt Reddington on LinkedIn
• Watch the Webinar on Demand

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:

• The three key messages Philip laid out in his annual message and whether they have stood the test of time
• Major trends that have dominated news headlines this year and how they have (or have not) affected procurement
• New developments from AOP's team, online presence, and content programs

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:

• Heba's experience as a supply chain leader in a hospital system during the COVID-19 pandemic
• Subsequent changes to the role of procurement and supply chain within the patient care experience
• How the definition of value has changed forever for doctors, patients, and 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.

"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:

• Key priorities and challenges facing the procurement function today and tomorrow, and what is needed to optimize results
• How senior leaders view procurement's role in the enterprise
• Ways procurement can prepare to meet challenges and trends such as supply chain disruption, rising costs, growing macroeconomic uncertainty, and increasing ESG expectations

"Sustainability is at the top of the agenda for businesses, because now they have to demonstrate exactly what their carbon footprint is and demonstrate with complete credibility and transparency exactly what they're doing." - Melanie Blackmore, Founder & CEO Blackmores (UK) Ltd and Carbonology Ltd

When Melanie Blackmore, Founder & CEO Blackmores (UK) Ltd and Carbonology Ltd, says that she is deeply passionate and "in love with" standards, she readily admits not everyone will be able to relate to her enthusiasm. But, applying ISO (International Organization for Standardization) can give organizations, and specifically procurement teams, the direction they need to ensure quality, safety, efficiency, and even compliance across industries and for both goods and services. 

The stakes can be high, but the benefits of implementing ISO standards are often even higher. 

In this episode, Philip Ideson explores the ins and outs of an ISO framework and how it can help a business improve their processes by following a set of internationally recognized best practices. 

They discuss:

• An overview of current ISO standards and how they have evolved
• How organizations can apply ISO standards to achieve their sustainability goals
• The differences between standards and certifications and how this impacts implementation 

Links:

• Subscribe to This Week in Procurement
• Melanie Blackmore on LinkedIn 
• Visit IsologyHub to learn more about how to achieve ISO compliance
  Melanie's Book on Amazon: Net Zero Planner: Design a Net Carbon Zero plan for your business in 90 days
• Blackmores (UK) Ltd
• Carbonology Ltd

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! 

• Understanding and deciding between the common models for construction sourcing
• Why scheduling is just as important as price
• How construction RFPs differ from other RFPs and the role they play in the sourcing and project management process

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 on Apple

Subscribe on Spotify

Subscribe on Google 

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:

• How C-suite executives view procurement's role in managing risk        
• Why procurement talent and skills shortages may be part of the risk management challenge 
• How companies are leveraging supplier management technologies to address these challenges 

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:

• What he has heard at recent conferences season about digital literacy for procurement professionals
• Outlook and advice for provider-side procurement professionals who may recently have been impacted by company layoffs 
• Why CPOs continue to consider procurement talent such a struggle, and why they are allowing training budgets to go unused in some cases

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:

• The ability to accommodate the unique localized nature of a business that is geographically or functionally dispersed
• Unique challenges and opportunities for procurement organizations in mid-market companies
• How the business ecosystem makes it possible for companies to combine an enterprise solution that addresses 90 percent of their needs with partners who handle the rest

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 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:

• What the decision abyss is and what it means to procurement, supply chain professionals, and category managers in today's uncertain economic conditions
• The level of urgency being experienced by today's corporate leaders, and how each decision making team is converting that urgency into action
• How LevaData is investigating the decision abyss to learn more about its causes and effects

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:

• Why a company's age impacts the data quality challenges they are likely to face through layers of legacy systems
• What firmographics are and why procurement should be investing in them
• The role that AI needs to play for robust firmographics data to be made actionable quickly and at scale

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:

• Why there is an understanding gap around should-cost analysis
• How accurate should-cost analysis needs to be in order to be actionable
• What it looks like to conduct a collaborative should-cost analysis exercise with suppliers, and what results such an effort can deliver

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.

Years of supply chain disruptions have caused global organizations to rethink the role of procurement - and procurement teams are doing some reflecting of their own. This is the time for procurement leaders to reexamine their operating model in preparation for the next potential crisis. 

In this episode, based on an AOP Live session, Art of Procurement's Philip Ideson and Kelly Barner are joined by Jake Taylor, Senior Director of Advisory at ProcureAbility. He provides his view on how leading procurement organizations are realigning themselves with the business and reinforcing that alignment with their operating model. 

Jake answers questions on topics such as:

• The pros and cons of various procurement operating models
• Change management considerations that will put operating model adjustments into context
• Actionable insights that will help you make purposeful changes to your procurement operating model

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 teams are tasked with moving the ball on so many 'important' projects in parallel that it can be hard to put them in priority order. In fact, procurement could ask five executives which effort - cost savings, risk mitigation, or ESG - is the most important to the company and get five different answers. Clearly, building a mechanism to decide is the right place to start.

In this episode, Philip Ideson is joined by Chris Riley, a Principal in Supply Chain and Procurement at Deloitte Consulting based in Perth, Australia. Chris has experience in a variety of procurement roles in the UK, Singapore, and Australia, with companies such as Ford, Cap Gemini, Lloyds Banking Group, and Rio Tinto. 

During the conversation, Chris and Phil have the opportunity to discuss:

• Where procurement should go next, after the elevated role they have taken on over the last couple of years in response to supply and cost pressures
• How portfolio management and leadership strategies based on operational excellence can drive significant short and long-term improvements in procurement performance
• The role procurement can take on to support the corporate desire to spend with a social conscience

"I think category management is great fun because you have the freedom to do things. It's not following a rote process. It's using structure to be creative. I think that's the great benefit of it." - Mark Webb, Managing Director at Future Purchasing

For many in procurement, category management is "old hat." Some even assume that widespread adoption and integration of category management structures and processes within the business are non-issues in 2024. They see category management as a mountain that has been scaled, and now procurement just needs to sit back and enjoy the view.

When we look more closely, however, there is still significant room for improvement in category management strategy and for expanded scope of implementation throughout the business. 

In this episode, Philip Ideson welcomes back Mark Webb, Managing Director at Future Purchasing, for a deep dive into the current state of category management, including where we've been and how far we have left to go. Mark also shares the results of the 2024 Global Category Management Report, a large, comprehensive study Future Purchasing conducts in partnership with Henley Business School. 

They discuss the importance of stakeholder involvement, the need for more consistency and effective communication, the distinctions between category management and strategic sourcing, and the delicate balance between internal expertise versus external resources in implementation.

Philip and Mark also explore:

• Why 80 percent of stakeholders don't fully understand their role in category management, and what procurement can do to fix that
• Practical advice to streamline category planning and improve stakeholder engagement
• The ideal model for category management when considering big versus small teams

Links:

• Subscribe to This Week in Procurement
• Read the 2024 Global Category Management Report
• Mark Webb on LinkedIn
• The Differentiators of Category Management Leaders & Followers, w/ Mark Webb

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.

Effective today, Art of Procurement has a new brand: an uploaded logo, look, and feel that align with our vision for procurement and the expanded content and events that are available to the AOP community.

This rebrand comes after eight years of gradual shifts. Starting with the launch of the podcast in 2015, Art of Procurement has grown to become the leading source of trusted, actionable insights for forward-thinking procurement leaders.

In this bonus episode, Partners Philip Ideson and Kelly Barner explain the intent and process behind this change:

• How our rebrand goes beyond just sporting a 'new look'
• The need for procurement advocacy across the executive suite
• How this brand update aligns with our larger mission to 10X the impact of procurement

Supplier.io recently analyzed $1.4 trillion in spend looking for supplier diversity benchmarks that can be used to identify top performers and aid the advance of these programs regardless of maturity, size, or industry.

In this episode, drawn from an AOP Live session, Philip Ideson and Kelly Barner are joined by Aylin Basom, CEO of Supplier.io, and Lois Eichacker, their Vice President of Customer Success. They share the findings of the 2023 Supplier Diversity Benchmarking Report and discuss the importance of having an accurate, reliable, and consistent way to measure supplier diversity program results. 

Listen to this interview to discover:

• Why actionable data and benchmarks are critical to advancing the mission of the supplier diversity movement
• What the data reveals when small supplier spend and diverse supplier spend are studied separately
• The role industry plays in determining relevant supplier diversity benchmarks