Explore every episode of the podcast Procurement Legends

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The "AI Procurement Blueprint" is presented as a practical guide for integrating artificial intelligence into procurement processes, catering to professionals at all experience levels. It outlines six key capability pillars necessary for success, including strategic vision, AI fluency, governance, data storytelling, ecosystem innovation, and AI-augmented negotiation. The source emphasises that AI's role is not to replace human jobs but to elevate capabilities and redefine responsibilities, leading to more strategic, technology-enabled, and outcomes-focused procurement. It further details how various procurement roles are evolving into hybrid, tech-enabled positions, providing actionable steps for individuals and organisations to develop these crucial skills and implement AI pilots effectively.

How is AI transforming the procurement profession, and what is its impact on existing roles?

AI is fundamentally reshaping procurement by elevating capabilities and redefining responsibilities, moving the profession towards a more strategic, technology-enabled, and outcomes-focused approach. It is not about replacing people but about augmenting their abilities. Existing roles are evolving into hybrid, tech-enabled positions where AI handles repetitive, rules-based tasks, freeing up professionals to focus on higher-value work. For instance, category managers are now designing supplier ecosystems and co-innovation programmes, sourcing analysts are managing AI-driven sourcing waves, and contract specialists are overseeing AI-assisted contract creation. New senior roles like AI Procurement Manager and Head of Digital Procurement & AI are also emerging to orchestrate AI operating models and platform strategies.

What are the six key capability pillars essential for procurement professionals in an AI-driven future?

The six essential capability pillars for procurement professionals in an AI-driven future are:

* Strategic Vision and Systems Leadership: Aligning AI adoption with broader business goals like growth, resilience, and sustainability, and building connected systems.

* AI Fluency and Prompt Craft: Confidently using AI tools, guiding them with clear instructions, checking their accuracy, and transforming outputs into actionable insights.

* Governance, Ethics, and Assurance: Ensuring compliance with regulations (e.g., EU AI Act), applying strong controls, performing bias checks, and maintaining human oversight for transparent and auditable AI-assisted decisions.

* Data Storytelling and Influence: Presenting AI-driven insights as compelling narratives that demonstrate clear business impact (e.g., cost reduction, risk mitigation, sustainability improvements).

* Ecosystem Innovation and Platform Thinking: Working collaboratively with suppliers to share data in real-time, leveraging supplier network data as a strategic asset for better AI decisions.

* AI-Augmented Negotiation and Behavioural Dynamics: Understanding when to automate routine negotiations with AI and when human judgment is crucial for complex or sensitive deals.

How can organisations practically implement AI in procurement, particularly concerning pilot projects?

Organisations can implement AI by linking AI opportunities directly to their organisational goals (OKRs) and running small-scale, low-risk pilot projects. The blueprint suggests identifying high-impact opportunities across the procure-to-pay lifecycle, selecting one clear pilot tied to a key result, and designing it with success metrics, guardrails, and human oversight. A "first-month plan" example is an autonomous tail-spend buying pilot to streamline low-risk purchases, minimise manual effort, reduce costs, and maintain compliance. The focus is on building a plain-language leadership case that quantifies benefits, clarifies risks and controls, and secures approval.

What is the role of data in AI-driven procurement, and how does "data storytelling" come into play?

Data is a strategic asset in AI-driven procurement. Real-time data sharing with suppliers enables AI models to make better decisions. "Data storytelling" is crucial for translating AI-driven insights into narratives that resonate with stakeholders. It moves beyond static reporting, presenting data in a way that clearly demonstrates business impact, whether it's reducing costs, cutting risk, or improving sustainability. This skill helps procurement professionals influence decisions and showcase the tangible value derived from AI applications.

How can procurement professionals improve their AI fluency and prompt craft?

Procurement professionals can improve their AI fluency and prompt craft by actively experimenting with AI tools in a safe, sandboxed environment. Practical steps include using vendor-provided trial accounts, following prompt design guides, and regularly practising the creation of multi-step instructions tailored for specific procurement scenarios. This hands-on experience builds confidence in guiding AI tools effectively and transforming their outputs into actionable insights.

What are the key considerations for governance, ethics, and compliance when adopting AI in procurement?

Key considerations for governance, ethics, and compliance include staying compliant with emerging regulations such as the EU AI Act. It is essential to apply strong controls, conduct bias checks, and ensure human oversight in all AI-assisted decisions to maintain transparency and auditability. Practical steps for professionals involve developing an AI risk checklist for their function, attending webinars on AI governance, and creating bias audit templates to ensure responsible AI adoption.

How does AI impact negotiation strategies in procurement?

AI impacts negotiation strategies by augmenting human capabilities, allowing for more efficient and data-driven approaches. Procurement professionals need to understand when AI can effectively handle routine negotiations (e.g., processing tail-spend purchases with autonomous buying agents) and when human judgment, creativity, and relationship-building skills are essential for complex or sensitive deals. Simulating negotiations with AI tools and comparing outcomes to human-led versions can help identify the best-fit use cases for automation, ensuring a strategic blend of AI and human expertise.

What is the recommended approach for procurement professionals to develop these new AI capabilities?

The recommended approach for procurement professionals to develop these new AI capabilities is to pick one capability pillar to focus on for a 90-day period. Within this period, they should define one measurable goal, design one experiment related to that goal, and identify one learning resource to support their growth. This focused approach allows for tangible progress and builds a stronger foundation for thriving in the AI-driven future of procurement. Practical steps for each pillar are provided, from joining cross-functional projects and mapping AI opportunities to OKRs, to experimenting with AI tools and building relationships for data sharing.

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A different episode today. This is all about raising awareness in collaboration with Team Water!

The provided sources primarily discuss the complexities of existing water infrastructure, exemplified by the UK's extensive yet leaky network, and contrast this with innovative, modern procurement strategies for establishing new water systems. They highlight how "leapfrog" approaches, such as modular, solar-powered water solutions and mobile payment-enabled water ATMs in East Africa, offer a more efficient and cost-effective way to provide clean water. The texts emphasise the critical role of smart procurement and supply chain management in these projects, advocating for practices like framework agreements, local assembly, and digital monitoring to optimise delivery and ensure sustainability, ultimately linking these methods to philanthropic efforts like the TeamWater campaign.

Q1: What is the main problem with existing water systems, and how does it compare to building new ones?

Existing water systems, like the one in the UK, are incredibly complex and expensive to maintain. The UK, for example, has 800,000 km of water pipes, and it's projected to invest £50 billion over the next 15-20 years just for maintenance [1, 5]. Despite this massive investment, 3 billion litres of water are lost daily to leaks, accounting for 19-22% of the total water input [6, 7]. Lead times for essential equipment, such as ductile iron pipes, can be as long as 18 months, compared to 3 months previously [1]. Surprisingly, the sources suggest that building a new, modern water system from scratch can be easier and more efficient than constantly repairing and upgrading an outdated, vast network.

Q2: What is "virtual water," and why is it relevant to water resource management?

"Virtual water" refers to the hidden water used in the production of goods and services. Essentially, when you buy products like jeans, smartphones, or steel, you are indirectly purchasing a significant amount of water that was consumed during their manufacturing processes [1, 5]. For instance, a pair of jeans uses 3,781 litres of water, and a smartphone requires 13 tonnes of water cradle to grave [1]. This concept highlights that every supply chain decision is, in effect, a water decision, making it crucial for procurement professionals to consider the water footprint of products and processes.

Q3: How do modern procurement and supply chain thinking offer a solution to water scarcity, especially in developing regions?

Modern procurement and supply chain thinking enable a "leapfrog revolution" in water provision, especially in areas starting from scratch. Instead of replicating traditional, large-scale infrastructure, these approaches focus on modular, scalable, and digitally-enabled solutions [1, 24, 25]. For example, in Kabati, Kenya, a solar-powered reverse osmosis (RO) system costing under $40,000 was operational in 12 weeks, providing 6-7 cubic meters of WHO-standard drinking water daily to 1,500 residents [1, 9, 10]. This contrasts sharply with traditional water mains extensions, which can take years and cost hundreds of thousands [1].

Q4: What are the key features of these "leapfrog" water systems?

The "leapfrog" water systems are characterised by:

* Modularity: Often contained within standard shipping containers, making them easy to transport and install [1, 12].

* Renewable Energy: Primarily powered by solar panels, reducing reliance on expensive and unreliable fossil fuels [1, 9].

* Advanced Filtration: Incorporate technologies like reverse osmosis and UV sterilisation to provide hospital-grade water [1].

* Digital Integration: Utilise water-vending "ATMs" and mobile payment systems (e.g., M-Pesa in Kenya) for transparent transactions and revenue collection, often with cloud monitoring [1, 13, 14].

* Localisation: Prioritise local sourcing of up to 70% of components and local assembly, cutting lead times by 40% and fostering local job creation [1, 18, 19].

Q5: Can you provide examples of these modern water solutions in action?

* Kabati, Kenya: A solar-powered RO system provides 6-7 cubic meters of water daily to 1,500 residents via water ATMs, significantly improving access to clean water and replacing costly diesel pumps [1, 9, 10].

* Nzokani, Kenya: A water-ATM sells 13 cubic meters of water daily through the M-Pesa mobile money system, demonstrating increased revenue collection compared to traditional methods [1].

* WaterKiosk Africa (East Africa): This organisation and its partner, Boreal Light, have installed over 100 solar-powered desalination and purification systems in hospitals, schools, and communities, serving over 6 million beneficiaries annually and proving the speed and flexibility of the plug-and-play model, particularly during critical times like the COVID-19 pandemic [18, 19, 21, 22].

Q6: What specific procurement best practices contribute to the success of these modern water projects?

Smart procurement decisions are vital for these projects' success. Key practices include [1]:

* Modular Specifications: Tendering processes should be designed around standardised units, such as ISO container footprints.

* Framework Agreements: Bulk purchasing of components like pumps and membranes across multiple projects can lead to 15-20% price reductions [1].

* Local Assembly Hubs: Establishing facilities to train and employ local welders and electricians within 50km of projects.

* Performance-based Operations & Maintenance (O&M): Paying operators based on the volume of water delivered rather than asset ownership ensures continuous functionality.

* Digital Twin First: Requiring telemetry and cloud monitoring from the outset for real-time data and remote management.

Q7: How do these modern water systems contribute to sustainability beyond just providing clean water?

These modular, solar-powered systems contribute to sustainability in several ways:

* Reduced Carbon Emissions: They replace diesel-powered pumps, significantly lowering carbon footprints. Each kiosk can offset 264 tonnes of CO2 per year, generating carbon credits [1].

* Economic Empowerment: Revenue from water sales and carbon credits can be reinvested to cover operational costs, such as filter replacements, ensuring long-term sustainability and reducing reliance on external funding [1, 19, 23].

* Local Job Creation: Prioritising local assembly and training builds local capacity and creates sustainable employment opportunities [1, 18].

* Improved Efficiency: Digital monitoring and mobile payment systems increase transparency and efficiency in water management, reducing non-revenue water and improving service delivery [1, 25, 27].

Q8: What is TeamWater, and how does it exemplify this new model of efficient water provision?

TeamWater is a large-scale creator collaboration launched by MrBeast and Mark Rober, aiming to raise $40 million to bring clean water to 2 million people [1, 3]. It embodies the new model of efficient philanthropy by leveraging smart procurement and supply chain thinking. The goal is to provide clean water for decades at an approximate cost of $20 per person [1]. This cost-effectiveness is attributed to the adoption of modular, digitally-enabled, and locally-sourced water solutions, demonstrating that modern procurement can deliver better outcomes, faster, and at a lower cost than traditional methods [1].

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The sources discuss emerging trends and strategic implications of Artificial Intelligence (AI) in procurement. They highlight geopolitical shifts impacting AI procurement landscapes, such as new regulations requiring federal agencies to procure AI systems based on "Unbiased AI Principles" and promoting US AI technology exports. The texts also address the challenges in generative AI adoption within procurement, noting a "trough of disillusionment" due to fragmented data, integration issues, and inconsistent return on investment (ROI). Finally, the sources emphasise the importance of workflow redesign for realising significant business value from AI, explaining that simply adopting AI tools without deeper integration and upskilling the workforce leads to an "impact gap."

1. How is the "American AI Exports Program" reshaping the global procurement landscape for AI systems?

The "American AI Exports Program," established by President Trump's Executive Order 14320, is creating a two-tier AI procurement landscape. Firstly, it mandates that US federal agencies only procure AI systems from vendors adhering to new "Unbiased AI Principles," requiring models to be free from ideological bias and pursuing objective truth. Secondly, the Department of Commerce will actively promote "full-stack AI export packages" (including hardware, models, software, applications, and standards) to allied countries through federal financing. This means multinational companies will face increased complexity, as AI systems from non-US origins may be restricted or deemed ineligible for procurement in national security-critical sectors. Conversely, US-based AI vendors will receive significant government support for international expansion, potentially altering negotiation leverage in procurement discussions. Organisations will need to audit their AI supplier base and consider geographic diversification strategies.

2. Why is generative AI in procurement currently experiencing a "trough of disillusionment," and what are the main challenges?

Generative AI in procurement is currently in a "trough of disillusionment" because the initial excitement is being tempered by the realities of implementation. While some early adopters report efficiency gains, many organisations are encountering significant barriers. These include fragmented and low-quality data across existing procurement systems, complex integration challenges with current platforms, concerns around job security, and high, unpredictable costs. Despite 53% of supply chain and procurement executives reallocating funds to support GenAI initiatives, many are struggling with the technical specifications required to make these initiatives work effectively.

3. What are "smart teams" doing to overcome the challenges of generative AI adoption in procurement?

"Smart teams" are successfully navigating the generative AI "trough of disillusionment" by focusing on specific, measurable use cases rather than pursuing broad transformation promises. Examples include automated supplier recommendations, streamlining contract management workflows, and generating RFx documents. A key insight for these successful adopters is the critical importance of investing in clean, integrated data architecture before deploying AI capabilities. Organisations with well-integrated data systems have reported achieving AI implementation timelines that are three times faster.

4. What is the "AI Workforce Impact Gap" identified by BCG, and why is it significant for procurement?

The "AI Workforce Impact Gap" refers to the disparity between AI adoption rates and the actual business value being captured by companies. A BCG study of over 10,600 workers revealed that while 72% regularly use AI, only a small proportion of companies are realising significant business value. The critical difference lies in whether companies are merely deploying AI tools or fundamentally redesigning entire workflows to leverage AI. For procurement teams, this is significant because it suggests that simply introducing AI tools will not yield substantial returns. Instead, the winning strategy involves deep implementation in specific, high-impact areas like contract analysis, supplier risk management, and spend analytics, rather than a broad proliferation of AI tools across all processes. Less than one-third of companies have effectively upskilled even 25% of their workforce to use AI, further contributing to this gap.

5. What are the key findings from the BCG "AI at Work 2025" report regarding AI integration and frontline adoption?

The BCG "AI at Work 2025" report highlights several critical findings: three-quarters of respondents believe AI agents are vital for future success, yet only 13% report these agents are broadly integrated into workflows, and just one-third understand how they function. Furthermore, frontline worker adoption of AI has stalled at 51% (a 1% decrease from 2023), while job security fears are on the rise, particularly in countries with high AI adoption. This indicates a disconnect between perceived importance and practical, effective integration of AI into daily operations.

6. How can organisations achieve greater ROI from their AI initiatives, particularly in procurement?

Organisations can achieve greater ROI from their AI initiatives by focusing on a limited number of projects and systematically measuring their operational returns. The BCG study found that companies focusing on an average of 3.5 AI initiatives (compared to 6.1 for others) achieved 2.1 times greater ROI. This suggests a strategic approach of deep implementation in specific, high-value areas within procurement, such as contract analysis, supplier risk assessment, and spend analytics, is more effective than a broad, unfocused deployment of AI tools across all processes. Investing in workforce upskilling is also crucial, as less than one-third of companies have adequately trained their employees to effectively use AI.

7. What are the overarching forces currently shaping the future of AI in procurement?

The future of AI in procurement is being shaped by three primary forces. Firstly, geopolitical complexity is creating new compliance requirements, exemplified by the "American AI Exports Program" which dictates procurement eligibility based on origin and AI principles. Secondly, the implementation reality is tempering initial enthusiasm for generative AI, as organisations encounter challenges like fragmented data, integration issues, and uneven ROI, leading to a "trough of disillusionment." Lastly, the emergence of clear "winners" who prioritise workflow redesign over mere tool adoption is defining success, demonstrating that capturing significant business value from AI requires fundamental process transformation rather than simply deploying new technologies.

8. What is the key takeaway for procurement teams looking to strategically position themselves in the evolving AI landscape?

The key takeaway for procurement teams is that the window for strategic positioning in the AI transformation is narrowing. To capture disproportionate value, teams must focus on workflow transformation rather than simply the proliferation of AI tools. This means moving beyond basic AI adoption to deeply integrating AI capabilities into specific, high-impact procurement processes and redesigning those workflows to leverage AI effectively. This strategic focus, coupled with addressing data quality and integration challenges, and investing in workforce upskilling, will be crucial for success.

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AI-First Procurement: The iPhone Moment – Revolutionising Efficiency & Speed

Episode Summary: Join us for a deep dive into "AI-First Procurement: The iPhone Moment," a revolutionary shift that's fundamentally rewriting what's possible with human potential in the procurement world. This isn't just about making processes faster; it's about AI agents transforming entire industries, much like smartphones did. We'll explore how embracing an AI-first mindset, combined with flatter organisational structures, is delivering unparalleled speed, cost-efficiency, and strategic advantages, making traditional procurement approaches increasingly obsolete.

Key Discussion Points:

* The "iPhone Moment" in Procurement:

* This isn't an incremental improvement, but a fundamental transformation where AI agents are replacing industries and redefining human potential.

* If you're still viewing AI as an "add-on," you're missing the revolution. The future belongs to those who understand that one strategically augmented human can outperform entire traditional teams.

* Busting the Cost Myth: Embedded AI is the Future:

* Forget the narrative that AI will break your budget; this is "dangerously misleading".

* Embedded AI capabilities are becoming standard features in SaaS, not premium add-ons, with costs plummeting from $50K to $30K by 2027, a stark contrast to standalone AI tools projected to rise from $150K to $330K.

* The "smart money is on platforms that embed intelligence as a core feature".

* The David vs. Goliath Reality: Transformational Efficiency Metrics:

* This isn't theory, but a "measurable reality". A single AI-first procurement professional managing eight specialised AI agents can achieve 60% of a traditional 10-person team's annual spend management ($35M vs $58M).

* Dramatic Speed Increases:

* A single AI-first professional is "9x faster in decision-making (2 days vs 18 days)".

* Agentic teams maintain "2 to 5 day decision cycles compared to 8 to 18 days for traditional teams".

* The comprehensive radar analysis rates agentic teams significantly higher on "decision speed (9 vs 4)".

* Superior Cost-Effectiveness:

* They are "51% more cost-effective ($28K vs $57K per million managed)".

* Agentic teams deliver "40 to 50% lower cost per million dollars managed".

* The radar analysis confirms superior "cost efficiency (8.5 vs 5.5)".

* Massive Performance Multipliers (Throughput):

* Single AI-first professionals achieve "5.6x more contracts processed monthly, 8.4x more suppliers evaluated, 9.0x more compliance checks completed, 7.3x more risk assessments conducted, and 7.5x more strategic projects delivered quarterly".

* They manage "3.5x higher annual spend capacity on average".

* These "performance multipliers remain consistent" (around 3.4x to 3.6x) even as teams scale from 1 to 10 people, because the "fundamental efficiency comes from the human-AI collaboration model".

* Enhanced Compliance & Risk Reduction:

* Agentic teams achieve "compliance scores of 95 to 98% versus 75 to 84% for traditional approaches".

* They outperform in "compliance scores (9.6 vs 7.9)" and "risk reduction (8.8 vs 4.9)". AI agents can monitor hundreds of suppliers and process thousands of checks without fatigue.

* Shift to Strategic Focus:

* Critically, the AI-first professional is freed from "hierarchical approvals, manual compliance checks, and coordination overhead" to "focus on strategic decisions, relationship building, and value creation".

* This leads to a much higher "strategic focus (8.7 vs 3.2)" for agentic teams.

* The Flat Structure Advantage: Speed:

* Traditional structures kill speed with "multiple layers of approval, handoffs, and coordination overhead".

* Agentic structures maintain flat hierarchies where each human directly manages specialised AI agents, eliminating these bottlenecks and enabling dramatically faster decision cycles and greater agility.

* The Mid-Market Sweet Spot:

* For mid-market organisations, evidence "strongly supports a strategic shift toward lean, AI-first procurement structures".

* Instead of traditional 5-10 person teams, 1 to 3 AI-augmented professionals can achieve superior outcomes at a lower cost.

* "Smaller, AI-augmented teams consistently outperform larger traditional ones".

* Your Next Steps: Becoming AI-First:

* This transformation "isn't coming, but it's here." The question is whether you'll lead it or be left behind.

* Start small but start now: Experiment with AI tools in your current role.

* Develop crucial technical skills without becoming a programmer: "Prompt engineering is becoming as important as contract negotiation skills". Understanding how to brief and manage AI agents is vital.

* Focus on strategic thinking as routine tasks become automated.

* Build cross-functional relationships that will be crucial in flatter organisations.

* Stay curious about emerging technologies and their procurement applications.

* Consider learning platforms like Replit to understand the "technical foundations".

* The Competitive Reality:

* Organisations adopting agentic structures now will gain a compelling value proposition and establish "competitive advantages that become increasingly difficult for traditional approaches to match".

* The "future belongs to lean AI-fast teams that will crush traditional structures in capability".

Call to Action: What's your experience with AI in procurement? Are you seeing the performance multipliers we've discussed? Share your thoughts in the comments below, and don't forget to subscribe to the AI Procurement Blueprint for more insights on becoming AI-first in procurement!

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In this conversation, Daniel is joined by Procurement OG Mark Perera in the run-up to DPW (Digital Procurement World) New York 2025. DPW is the leading tech conference for Procurement. They discuss the rapid evolution of AI in procurement, emphasising the importance of curiosity and adaptability in the face of technological change. They explore the future roles within procurement, the necessity of adopting AI-first operating models, and the shifting landscape of SaaS and AI native companies. The discussion highlights the need for procurement professionals to embrace new technologies and methodologies to remain relevant and effective.

The AI Procurement Blueprint is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Takeaways

* AI is evolving rapidly and has significant implications for procurement.

* Curiosity and adaptability are essential for procurement professionals.

* The future of procurement roles will change significantly due to AI.

* An AI-first mindset can transform procurement operations.

* Navigating the tech landscape requires understanding AI native companies.

* The pricing models for AI solutions are shifting from traditional methods.

* Collaboration between humans and AI will enhance procurement functions.

* Procurement must focus on value creation beyond cost savings.

* The integration of AI into existing systems is a complex challenge.

* Building safe environments for AI experimentation is crucial for organizations.

Chapters

00:00 Introduction and Anticipation for DPW

03:09 The AI Revolution in Procurement

06:09 Curiosity and Capability in Procurement

08:56 The Future of Procurement Roles

12:12 AI-First Operating Models

14:53 Navigating AI in Procurement Tech

18:01 The Changing Landscape of SaaS and AI

21:06 The Importance of AI Native Companies

23:47 Conclusion and Future Outlook

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Key Themes:

1. The Driving Force of Mission:

Musk's actions are fundamentally driven by grand, ambitious missions rather than traditional business considerations. As Reid Hoffman observes, "Elon starts with a mission and later finds a way to backfill in order to make it work financially." This is evident in his pursuit of Mars colonization through SpaceX and his push for sustainable transportation via Tesla.

2. First Principles Thinking and Innovation:

A cornerstone of Musk's approach is "first principles thinking," a method of deconstructing complex problems to their fundamental truths and building solutions from there. He uses this to challenge established norms, leading to innovations like in-house manufacturing at SpaceX and Tesla, disrupting traditional industry practices.

3. A Relentless Pursuit of Efficiency and Speed:

Musk operates with a "maniacal sense of urgency," constantly seeking to optimize processes and accelerate timelines. This is exemplified by his demanding work ethic, his focus on reducing costs, and his willingness to personally delve into technical details. This relentless drive has led to both remarkable successes and occasional burnout among his teams.

4. The Power and Perils of Vertical Integration:

Both Tesla and SpaceX embrace vertical integration, controlling the production of key components in-house. This strategy provides greater control over quality, costs, and supply chains, but also presents logistical challenges and financial risks. The Roadster's early production struggles highlight the complexities of such an approach.

5. A Complex and Controversial Personality:

Isaacson delves into Musk's unique personality, shaped by his potential Asperger's syndrome and a challenging upbringing. While brilliant and driven, Musk can also be demanding, insensitive, and prone to public outbursts. His relationships are often turbulent, reflecting his intense focus on his work and a sometimes-strained emotional intelligence.

6. The Future of AI and Humanity:

Musk's concerns about the potential dangers of artificial intelligence are evident in his involvement with OpenAI. He believes in proactively shaping AI development to benefit humanity and mitigate risks. This drive manifests in his pursuit of advanced AI capabilities within his companies, including Tesla's self-driving technology and the development of Optimus, a humanoid robot.

7. The Twitter Takeover: A Case Study in Disruption:

Musk's acquisition of Twitter showcases his disruptive approach and willingness to challenge established practices. His focus on engineering, his demand for a return to in-office work, and his swift dismissal of top executives demonstrate his intent to reshape the platform according to his vision.

Important Facts and Quotes:

* On Mission-Driven Motivation: "What I didn’t appreciate is that Elon starts with a mission and later finds a way to backfill in order to make it work financially." - Reid Hoffman

* On First Principles Thinking: "I was pretty mad, and when I get mad I try to reframe the problem." followed by, "First principles." - Elon Musk

* On Vertical Integration: "One of the most important decisions that Elon Musk made about Tesla... was that it should make its own key components." - Walter Isaacson

* On Demanding Work Ethic: "From the very beginning of his career, Musk was a demanding manager, contemptuous of the concept of work-life balance." - Walter Isaacson

* On Asperger's and Empathy: "People like Elon with Asperger’s don’t take social cues and don’t naturally think about the impact of what they say on other people," - Gwynne Shotwell

* On AI and the Future: "Unless the woke-mind virus, which is fundamentally antiscience, antimerit, and antihuman in general, is stopped, civilization will never become multiplanetary." - Elon Musk

* On Twitter Transformation: "Twitter now has twenty-five hundred software engineers... This is not happening. Something is deeply amiss." - Elon Musk

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Main Themes:

* Mapping Technological Maturity: The Gartner Hype Cycle provides a visual representation of the expected trajectory of emerging technologies, from initial hype to mainstream adoption. It helps understand the stages of development and manage expectations around new tech.

* AI Dominance: Artificial intelligence (AI) features heavily in the 2024 cycle, with technologies like Generative AI and AI-Augmented Software Engineering occupying prominent positions. This highlights the growing impact of AI across various sectors.

* Emphasis on Sustainable Tech: The cycle reflects a growing focus on sustainable technology investment and performance metrics tied to IT sustainability. This indicates a shift towards responsible tech adoption, aligning with corporate responsibility and long-term value creation.

Key Insights:

* Generative AI at Peak Hype: Generative AI, encompassing technologies like advanced natural language processing and image generation, is currently at the “Peak of Inflated Expectations”. High expectations are accompanied by potential for disillusionment if implementations fail to meet the hype.

* Emerging Tech Requires Patience: Many promising technologies, like AI TRiSM (Trusted, Responsible, and Intelligent Systems Management) and Digital Twin of a Customer, are projected to take over a decade to reach mainstream adoption. This underscores the need for long-term vision and strategic planning when investing in these areas.

* Cautious Optimism: While the Hype Cycle offers valuable insights, online discussions reveal a cautious approach to its predictive power. "Some users on X and tech forums have highlighted that only a small percentage of technologies actually follow the traditional path of hype, disillusionment, and eventual mainstream adoption as described by Gartner."

Actionable Takeaways:

* Strategic Technology Planning: Businesses can leverage the Hype Cycle to make informed decisions about technology investments, aligning them with their long-term goals and risk tolerance.

* Managing Expectations: The Hype Cycle helps temper expectations around new technologies, understanding that initial hype often precedes challenges and eventual maturation.

* Prioritizing Sustainability: The focus on sustainable technology underscores the need for businesses to incorporate environmental and ethical considerations into their tech adoption strategies.

Conclusion:

The Gartner Hype Cycle for Emerging Technologies in 2024 serves as a valuable tool for understanding the landscape of new technologies, managing expectations, and guiding strategic planning. While not a foolproof predictor, it provides valuable insights into the potential trajectory of emerging technologies and the importance of considering sustainability alongside innovation.

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Most Important Ideas/Facts:

1. Contract Lifecycle Management (CLM):

* Definition: CLM is defined as "the process of overseeing a contract from its initial drafting all the way through to its completion or renewal." This includes everything from defining terms to monitoring performance.

* Goal: Effective CLM ensures contracts deliver the promised value and minimize potential issues.

2. Pre-Signature Phase: Building a Strong Foundation

* Focus: This phase emphasizes meticulous preparation to establish a robust contract framework.

* Key Activities:Needs Assessment: Clearly define organizational needs and objectives, ensuring the contract reflects these requirements.

* Drafting and Negotiation: Outline key clauses (pricing, timelines, liability, confidentiality) and negotiate terms to avoid future misunderstandings. Legal team involvement is crucial.

* Risk Assessment: Identify and mitigate potential risks through specific contract clauses (e.g., penalties for non-performance).

* Approvals: Secure necessary approvals from stakeholders (legal, finance, procurement, leadership) to ensure alignment and reduce disputes.

* Quote: "By defining needs, carefully drafting terms, assessing risks, and securing approvals, you’re setting up a contract that’s structured to meet both parties' expectations and reduce potential issues."

3. Post-Signature Phase: Managing the Contract in Action

* Focus: This phase shifts to active contract management, ensuring adherence and maximizing contract value.

* Key Activities:Obligation Management: Track and manage both parties' obligations (deliverables, reports, etc.) as per contract terms.

* Performance Monitoring: Monitor supplier's adherence to service levels and deliverables, taking corrective action if needed.

* Risk Management: Continuously assess and manage evolving risks that might impact contract performance (e.g., supplier financial stability).

* Compliance and Reporting: Ensure adherence to contract terms and regulatory requirements, conducting regular compliance checks and audits.

* Renewal or Termination: Evaluate contract performance and organizational needs to decide whether to renew, renegotiate, or terminate upon expiration.

* Quote: "The post-signature phase is all about execution and monitoring. This phase ensures that the contract remains valuable to the organization and that any issues are addressed promptly to maintain a strong supplier relationship."

Curated news update from World of Procurement .

Overall Sentiment: The global procurement landscape is facing significant disruption and transformation driven by geopolitical tensions, technological advancements, and shifting priorities.

Key Themes:

* Geopolitical Instability and Supply Chain Disruption:

* Red Sea Conflict: Houthi attacks continue to disrupt shipping in the Red Sea, impacting major players like Maersk and BP. The US and UK have responded with counter-strikes, while Egypt warns of economic consequences stemming from militarization and blockades near the Suez Canal.

* China-US Trade War: The ongoing tech war between the US and China is escalating, with both countries implementing export bans on critical materials. China's restrictions on gallium, germanium, antimony, and graphite directly impact US semiconductor and electric vehicle industries.

* Impact: These conflicts highlight the vulnerability of global supply chains and the need for robust risk management and diversification strategies.

* Shifting Procurement Priorities for 2025:

* AI and Automation: "AI and automation are set to become central to procurement strategies, with a focus on AI-driven data analysis and decision-making." This suggests a move towards more data-driven and efficient procurement processes.

* Sustainability and ESG: Despite potential political headwinds, sustainability and ESG compliance remain important, with an emphasis on circular economy principles. This indicates a growing focus on ethical and sustainable sourcing practices.

* Workforce Challenges: An aging workforce necessitates strategies for attracting new talent and upskilling existing employees in digital competencies.

* Value-centric Procurement: A shift from solely cost-focused procurement to a broader value-centric approach is anticipated. This includes factors like supplier relationships, innovation, and long-term value creation.

* Impact: Procurement professionals need to adapt to these evolving trends, embracing new technologies, prioritizing talent development, and incorporating a broader range of factors into decision-making.

* Open Questions for Procurement Leaders:

* How can procurement teams effectively navigate geopolitical risks and ensure supply chain resilience?

* What strategies can be implemented to attract and retain young talent in the procurement sector?

* How can procurement processes be optimized to leverage AI and automation effectively?

World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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The conversation discusses process orchestration and intake orchestration in the context of procurement teams. Process orchestration is the idea of using a tool to help orchestrate and align processes to fit the way people work. Intake orchestration is a subset of process orchestration and focuses on managing the intake of requests from different teams and stakeholders.

The conversation highlights the importance of process orchestration for procurement teams, especially in enterprise organizations where there are multiple stakeholders, systems, and complexities. It also emphasizes the need to involve AI in the orchestration process to improve efficiency, compliance, and user experience.

In this conversation, Sagi and Daniel discuss the importance of AI and process orchestration in procurement and intake. They highlight the need for a personalized and AI-powered user experience, the integration and automation of processes, and the flexibility to customize and iterate on solutions.

Sagi emphasizes the value of an AI front door, which allows users to ask questions and receive guidance in plain language. They also discuss the benefits of no-code solutions and the ability to easily make changes and adapt to evolving needs. Overall, the conversation explores the key elements of successful process orchestration in procurement and intake.

Key Takeaways

Process orchestration helps align processes to fit the way people work Intake orchestration focuses on managing the intake of requests from different teams and stakeholders Process orchestration is particularly important for procurement teams in enterprise organizations AI can be leveraged in orchestration to improve efficiency, compliance, and user experience A personalized and AI-powered user experience is crucial in procurement and intake processes.

Integration and automation of processes are essential for efficiency and productivity. Flexibility and the ability to customize and iterate on solutions are important for adapting to changing needs. An AI front door, where users can ask questions and receive guidance, improves the user experience. No-code solutions enable easy customization and iteration on processes.

How you can help the Procurement Legends Podcast

Join 2800+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/

World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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Hey Procurement Legend,

A different piece of Friday Deep Dive Content is here.

LinkedIn has become an invaluable tool in the modern professional landscape.

Man, that’s what so many articles about building a personal brand on LinkedIn say. But I’m going to give you a deep dive here and tell you all the ways to make the most of it.

If you’re a procurement pro in an employed role, a self-employed procurement consultant, or a person working for a procurement tech company, this is the article for you.

I’m revealing my deepest, darkest secrets here.

And guess what? You can also watch the video version if you learn better that way.

As always, this is for our World of Procurement Paid community members. I serve you first and foremost, and I want your procurement careers, in whatever you do, to flourish via a personal brand.

Why Should You Care About A Personal Brand

Whether you're a newcomer to the procurement field or a seasoned pro, LinkedIn can offer a wealth of opportunities to advance your career.

How?

People get to know you and what you stand for.

A personal brand refers to the way an individual presents themselves to the world, often in a professional context. It is becoming increasingly important in the digital age, particularly in niche fields, as it can help establish trust and credibility and differentiate oneself from competitors.

And we live in a competitive world.

Procurement roles will likely dwindle and morph. No longer will the traditionalist skill set be the key to a new role. You’ll have to show your expertise to the world and be poached to land the best roles.

With my background as a Procurement, Supply Chain, and Contract Management Subject Matter Expert and a following of 25k on LinkedIn, I've seen firsthand how this platform can become a game-changer. This article will guide you through key areas, including the platform's significance, profile optimisation, content strategy, and networking techniques.

Why LinkedIn Is The Best Platform for Procurement Professionals

Platform Popularity: According to statistics, LinkedIn boasts over 700 million users globally. This staggering number speaks volumes about its credibility and reach in the professional sphere.

Professional Focus: Unlike social platforms like Facebook or Instagram, LinkedIn is designed exclusively for professional interactions. This makes it an ideal place for serious networking and career development. People are up for talking about matters. I have a theory that LinkedIn brings together the most passionate people in the World of Procurement to talk shop. This can be hard to find in your day role as you’re busy working, and many in procurement have fallen into the profession and lack that passion.

Content Creation Gap: Believe it or not, only about 1% of LinkedIn users are regularly creating content. This leaves a massive gap and opportunity for you to make your voice heard, especially in the niche procurement space. I’d say this content gap is wider when it comes to procurement, and there is an incredible opportunity for your content to stand out even in the early days.

Job Opportunities: A whopping 97% of recruiters reportedly use LinkedIn as a hiring resource. Being on a recruiter's radar can be an enormous advantage in a competitive field like procurement. But more than that is the additional opportunities that come when you become known for your expertise. Direct approaches become the norm, not worrying about your CV or having to apply for roles, and the inbound leads if you’re operating as a business are all worthwhile.

Caveat: This can take time. And the approach you take has to be spot on. So, let’ 's break this down.

Quick Question:

How many of you have secured job opportunities or professional connections through LinkedIn? Feel free to drop a comment.

How you can help the Procurement Legends Video Podcast

Join 2600+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/

World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading

Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow

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Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A

How you can help the Procurement Legends Video Podcast

Join 2400+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/

Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading

Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow

Download our Digital Assets here: https://worldofprocurement.gumroad.com

Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A

World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

How you can help the Procurement Legends Video Podcast

Join 2400+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/

Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading

Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow

Download our Digital Assets here: https://worldofprocurement.gumroad.com

Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A

World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Hey Procurement Legend,

This week we are talking about going digital in procurement and why you don’t need to deploy procurement tech to be do digital procurement.

World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

How you can help the Procurement Legends Video Podcast

Join 2400+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/

Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading

Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow

Download our Digital Assets here: https://worldofprocurement.gumroad.com

Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A

Hey Procurement Legend, this week we’ve got a breakdown of some significant points from Dr. Elouise Epstein’s new book, How to hack your supply chain.

Before you listen, make sure you buy this book. It should be a must-read book for every procurement pro who cares to remain in procurement as tech & AI increasingly cover procurement tasks.

How you can help the Procurement Legends Video Podcast

Join 2200+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/

Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading

Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow

Download our Digital Assets here: https://worldofprocurement.gumroad.com

Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A

Sign up to the World of Procurement Newsletter and Community here: https://worldofprocurement.substack.com?sd=pf

As procurement professionals, it's our responsibility to protect against cyber threats, particularly concerning the procurement of goods and services from suppliers. So, let's take a look at how we can do that.

Let's face it - many Procurement Teams lag in this space.

This was one area that I really wanted to go specialise in when I was studying for my Master's Degree = which was cyber and insurance law.-this is one area that I wanted to look at what insurance laws and how do insurers, and I mean like good underwriters, not your, like your basic Avivas, but your car insurance deal with the cyber threats that are coming from, like what can they do?

And this was back in, like, 2013-14; this is what I was trying to pitch my PhD on, like, I thought I was guaranteed to get funding (based on what my sponsor told me). And it didn't come through, and I was really sad. But this meant I didn't spend the next 3-4 years studying and teaching and instead, I got into the World of Procurement.

But I would like to undertake a PhD at some point.

They said it wasn't relevant, but it is relevant now, in 2023, I'm telling you. And that's not even just from a legal perspective; from a procurement perspective, it is super important.

A study by the Center for Strategic and International Studies (CSIS) found that cyber-attacks cost the global economy an estimated $600 billion annually. This highlights the significant impact cyber-attacks can have on businesses and organisations.

A survey by the Chartered Institute of Procurement and Supply (CIPS) found that 80% of procurement professionals believe cybersecurity is essential in their procurement decisions. This demonstrates the widespread recognition of the importance of cybersecurity in procurement.

A study by the National Institute of Standards and Technology (NIST) found that organisations that implemented effective cybersecurity controls experienced a 70% reduction in the likelihood of a cyber attack. This shows the effectiveness of cybersecurity controls in reducing the risk of cyber attacks.

So, how can procurement support cybersecurity efforts? One way is by implementing cybersecurity standards for suppliers, conducting due diligence on suppliers' cybersecurity practices, and requiring suppliers to sign confidentiality agreements. By doing so, we can ensure that we are procuring from suppliers with strong cybersecurity practices.

As the world continues to become increasingly digital, the importance of cybersecurity has never been greater. For procurement professionals, this means taking extra steps to ensure that the goods and services they procure from suppliers are protected from cyber threats. So, how can procurement support cybersecurity efforts?

One way is by implementing cybersecurity standards for suppliers. This ensures that suppliers have strong cybersecurity practices and can protect their goods and services.

Procurement professionals can also conduct due diligence on suppliers' cybersecurity practices and require suppliers to sign confidentiality agreements. By doing so, procurement can ensure that their suppliers are taking all necessary steps to protect the goods and services they provide.

Ultimately, procurement professionals need to have a strong understanding of cybersecurity risks and be able to implement effective controls and safeguards. By implementing cybersecurity standards for suppliers and conducting due diligence on their cybersecurity practices, procurement can help support cybersecurity efforts.

In summary, cybersecurity is an increasingly important consideration in procurement. As procurement professionals, it's our responsibility to protect against cyber threats, particularly concerning the procurement of goods and services from suppliers. By implementing adequate cybersecurity controls and working with suppliers to ensure strong cybersecurity practices, we can reduce the risk of cyber-attacks and protect our organisations.

TL;DR

Procurement professionals must take extra steps to ensure that the goods and services they procure from suppliers are protected from cyber threats. This includes implementing cybersecurity standards for suppliers, conducting due diligence on suppliers' cybersecurity practices, and requiring suppliers to sign confidentiality agreements. By doing so, we can reduce the risk of cyber-attacks and protect our organisations.

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You need to become a Digital Procurement Pro in 2023 to have a Meaningful Career in Procurement

The digital age has changed how we do business, and Procurement is no exception.

To stay competitive and remain successful, you need to stay ahead of the curve by understanding and mastering the latest digital procurement tools and processes.

💡 You might not lose your role to tech and AI in Procurement. But I can guarantee you will lose it to someone who can harness this technology better than you.

This year, be brave and find a digitally native Procurement role. We’re no longer Procurement Professionals.

We are Digital Procurement Professionals.

Don’t hold back your career.

Subscribe to the World of Procurement Newsletter.

Subscribe to the World of Procurement YouTube Channel.

Follow Daniel on LinkedIn

Follow World of Procurement on LinkedIn.

Welcome to the World of Procurement podcast! In today's episode, we will discuss the impact of climate change on procurement and the role that procurement can play in supporting sustainability efforts. As procurement professionals, it's our responsibility to consider the environmental impact of our activities and find ways to reduce our carbon footprint and support sustainability efforts. So, let's take a look at how we can do that.

Support my channel and get something back:  

Get knowledge by subscribing to my weekly procurement community - https://worldofprocurement.co.uk/membership 

Buy the book on Elon Musk here - https://amzn.to/3ETXrKD (paid link/ad, affiliate)

More Knowledge by taking part in my Contract Management for Beginners Course - https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A 

Upping your LinkedIn Analytics game with Sheild Analytics - https://www.shieldapp.ai/?via=daniel-barnes 

Follow me on LinkedIn here - https://www.linkedin.com/in/danielbarnesgsd/ 

Subscribe to Tom's Substack here - https://procurementprotagonist.substack.com 

Follow Tom Mill's on LinkedIn here - https://www.linkedin.com/in/tom-mills-procurement/ 

#procurement #career #elonmusk

Support my channel and get something back:

• Get knowledge by subscribing to my weekly procurement newsletter


• https://worldofprocurement.co.uk/membership


• Check out https://worldofprocurement.co.uk/ 


• More Knowledge by taking part in my Contract Management for Beginners Course - https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A 


• Upping your LinkedIn Analytics game with Sheild Analytics - https://www.shieldapp.ai/?via=daniel-barnes 


• Follow me on LinkedIn here - https://www.linkedin.com/in/danielbarnesgsd/

Support my channel and get something back:  

Get knowledge by subscribing to my weekly procurement newsletter - https://worldofprocurement.co.uk/membership  

Check out - https://worldofprocurement.co.uk/  

More Knowledge by taking part in my Contract Management for Beginners Course - https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A 

Upping your LinkedIn Analytics game with Sheild Analytics - https://www.shieldapp.ai/?via=daniel-barnes 

Follow me on LinkedIn here - https://www.linkedin.com/in/danielbarnesgsd/  

Follow Dr Elouise Epstein here - https://www.linkedin.com/in/drelouise/  

#digitalprocurement #procurement

Support my channel and get something back:  

Get knowledge by subscribing to my weekly procurement newsletter - https://worldofprocurement.co.uk/membership  

More Knowledge by taking part in my Contract Management for Beginners Course - https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A  

Upping your LinkedIn Analytics game with Sheild Analytics - https://www.shieldapp.ai/?via=daniel-barnes  

Follow me on LinkedIn here - https://www.linkedin.com/in/danielbarnesgsd/  

Read the article here - https://worldofprocurement.co.uk/blog/what-the-best-procurement-pros-do (this differs to the content discussed today but is still relevant)  

Subscribe to Tom's Substack here - https://procurementprotagonist.substack.com  

Follow Tom Mill's on LinkedIn here - https://www.linkedin.com/in/tom-mills-procurement/   

#procurement #career #supplychain

Support my Procurement Podcast and get something back:  

Get knowledge by subscribing to my weekly procurement newsletter - https://worldofprocurement.co.uk/membership  

More Knowledge by taking part in my Contract Management for Beginners Course - https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A  

Upping your LinkedIn Analytics game with Sheild Analytics - https://www.shieldapp.ai/?via=daniel-barnes  

Follow me on LinkedIn here - https://www.linkedin.com/in/danielbarnesgsd/  

Read the article here - worldofprocurement.co.uk/blog/will-procurement-become-extinct  

Subscribe to Tom's Substake here - https://procurementprotagonist.substack.com  

Follow Tom Mill's on LinkedIn here - https://www.linkedin.com/in/tom-mills-procurement/   

Tom Mills and I have been talking a lot recently about the state of Procurement Content on LinkedIn and the insidious nature of the Procurement Dinosaur. An ideology among Procurement Professionals that hides behind the way we've done things in the profession for years and fights change. 

These people are blocking progress in the profession and we've had some brilliant, hilarious and almost comical exchanges with them on LinkedIn.   In this episode of the World of Procurement Podcast, we talk about: - Creating Procurement Content - Dinosaurs of Prourement  Enjoy my friends  

#procurement #supplychain #contentcreator

Join our World of Procurement Discord Community here.

Take our Contract Management for Beginners Course here.

View this over on World of Procurement.

World Commerce & Contracting announced on LinkedIn here that they are going to be focussing on Procurement Programs (or courses).

I'm genuinely intrigued to see what they focus on and how this compares with the offering from CIPS. 

Join our World of Procurement Discord Community here.

Take our Contract Management for Beginners Course here.

View this over on World of Procurement.

• Legal Ops is a ever growing profession which is usually led by non-qualified legal pros who manage and operate the legal capability within a business.


• Legal is often, like procurement, left a bit in the dark ages when it comes to process improvements, efficieny and tech. This might be due to lawyers who work in firms charging by the hour who then go in-house and don’t shift their way of thinking.


• Legal Ops will look at analytics, managing external legal suppliers, processes etc.


• There could be big benefits of having Legal Ops support the Procurement team and their contract review.

Join our World of Procurement Discord Community here.

Take our Contract Management for Beginners Course here.

View this over on World of Procurement.

I’ve spent a couple of weeks interviewing candidates for both legal and procurement roles and I wanted to share with you some ways in which I think you can crush your upcoming procurement interviews.

1. Make sure you’ve genuinely understood the JD and research your responses.


2. Procurement is fundamentally moving on from cost reduction to risk management and other value adding activities.


3. Be confident - easier said than done but this should come naturally if you’ve prepared


4. Preparation - think of what questions might come up and prep for them. There’s usually 3 types of questions: personal (getting to know you), technical (understanding your commercial skills and if you understand how to procure, risk manage, contract manage) and situational (scenarios that you’ve been in that highlight your technical skills).


5. Have questions about the company


6. Take your time - don’t waffle and get in a fluff.

Join our World of Procurement Discord Community here.

Take our Contract Management for Beginners Course here.

View this over on World of Procurement. 

I’m always on the look out for good news stories when it comes to Procurement Tech.

You might wonder - why?

Because Procurement Tech, I believe, is going to enhance the way we manage our supply chains and contracts.

Contingent.ai, a company that provides risk insights on your Suppliers, just raised $8.2 million.

I pulled this directly from their website for you to see:

“The ProcureTech company has announced a funding round led by Octopus Ventures

• Cloud-based platform helps companies procure more strategically, and better manage supply chain risk and compliance


• The funding will be used to develop a suite of SaaS applications and to enable international expansion


• Contingent’s global customer base has been growing at 10x p.a. and includes companies such as Monzo, Seagate, Huel, Barratt Developments plc and HM Government”

Contingent is a company I’m genuinely happy to talk openly about in that I believe they are going to be the number one platform out there for managing risks and insights in your supply chain over the next 3-4 years.

Check them out.

Join our World of Procurement Discord Community here.

Take our Contract Management for Beginners Course here.

Check out our article on The Top Procurement Trends of 2022 here.

Over Christmas, I started thinking about the top Procurement trends for 2022. Essentially, I believe that we will build on the trends that emerged in 2021 as we navigated our way through a new way of living, travelling and existing.

I think the last two years have made a lot of Procurement Pros aware of the fragilities in their processes, their "tools" to do the job and within their supply chain. 

In this Podcast Episode, we're going to talk about:

Understanding your Supply Chain through Data

Sustainability and Ethical Sourcing

Digital Procurement

Data Protection

Procurement Tech

Risk

Lean Process

I might share some views that are a bit different, a bit out there but they're views that I preach and act on every day in my role as a Procurement and Contract Management Pro.

Join our World of Procurement Discord Community here.

Take our Contract Management for Beginners Course here.

Check out our article on Contract Management Trends 2022 here.

Over Christmas, I started thinking about the top Contract Management trends for 2022. Essentially, I believe that we will build on the trends that emerged in 2021 as we navigated our way through a new way of living, travelling and existing.

One general observation I have of us Contract Managers is that there is a fantastic opportunity to become more closely aligned with our Legal colleagues.

There is talk of a rise in Legal Operations and Legal Design type roles throughout 2022. If you look at what the generic job description of these Legal type roles are (and these aren’t usually qualified lawyers hence the comparison to us), we are doing many of the activities they are.

My additional point here is that I think you, as a Contract Manager, should be working closely with Legal.

Why?

To make massive improvements to how your business operates from a contracts perspective.

This year will be incredible if you make the most of the available opportunities.

Here's what I think will happen with Contract Management:

Make sure you check out our Contract Management for Beginners Course here.

Come join us for free over on Discord in the World of Procurement Community where we talk all things Procurement, Supply Chain and Contract Management. 

Check out the full transcript over on World of Procurement.

Rich Sains is the Founder of Acada, a Procurement Tech company that looks to remove the mundane admin based work and gives real time insights as to what teams are working on. The awesome part about this solution is that it doesn’t require loads of “admin” to input the data. It gives a central view to Procurement Leaders as to what their team is working on.

We like that a lot.

Whilst talking, Rich started to go into detail around the design principles they follow at Acada. I was blown away by the attention to detail in the user experience. I’m sure all of you reading this right now have encountered a Procurement tool that promises the world but when you use it, it looks awful. There is nothing worse that a piece of software that is clunky and is stuck in the 90s.

With everything being tracked, it gives you insights into how much time is required to complete tasks. This could be an RFP exercise, a contract review or consolidation of your supply chain. This in invaluable data as a procurement leader and let’s you utilise your available resource in the best way possible.

If we want to get even nerdier here, this is great for any audits that you may have that look into your organisational control measures such as ISO or SOC2.

In this episode we talk about Acada, why Rich started it and when we met a while back in London for a drink.

You can connect with Rich here on Linkedin.

Hey Procurement Legends, I had an awesome chat with Natasha, the COO of Paid which is a Procurement automation platform. I’ve pulled a technical extract from their website, which you can see here, so that you can get an idea of what the platform is.

I do encourage you to check out their product and think about how it may help you in your day-to-day procurement work.

Natasha is incredible, she gets it and it’s clear that she is in the business of solving business problems first and foremost. It just happens that these sit within the realms of procurement.

You’re going to love this one.

Check out the transcript over on our website.

We're live on Discord with our new Community Server on Discord. Click here to join right now as we start growing the Community in a place of our own, away from social media algorithms and the endless scroll.

In this episode, I talk about my vision for the World of Procurement Community, why I set it up and why it's going o be an awesome place for you to be. 

See the show notes here. 

For more awesome content in Procurement, Supply Chain and Contract Management, visit www.worldofprocurement.co.uk.

WE'VE GOT A SLIGHT GLITCH BETWEEN 10:00 - 11:30 MINS OF THE PODCAST. IT WILL COME BACK ON :D 

We had Tom Mills on the World of Procurement Podcast to talk about his views and ideas around what Procurement truly is. At one point in the episode, Tom referred to The Heart of Procurement and I instantly knew that would be the title for this episode.

We cover an incredible amount of conversation pieces as summarised below. 

Show Notes:

• Introduction into Tom’s career


• Procurement versus Purchasing, key differences and what Tom loves about Procurement


• Why Procurement having a seat at the table is the wrong question and the wrong angle to come from


• The Role of Procurement Pros moving forwards


• Managing conflict and “office” politics as a Procurement Professional


• Integrity as a Supply Chain/Procurement Professional

BECOME A FREE MEMBER HERE TODAY AT GET YOUR DISCORD INVITE NEXT MONTH.

Martin Smith is the Founder of Talent Drive, a recruitment company that specialises in Procurement and Supply Chain roles. Martin is perfectly placed to understand what is going on in the Procurement jobs market right now, what skillsets are required and what issues we face in this space as Procurement Professionals.

Martin is also the founder of the Talent Talks Podcast, where he talks with Senior Procurement Pros - give it a listen. 

Procurement roles seem to be breaking the norm, with purported salary increases in the UK that are way above the market norm, with, at least from my perspective, more roles than ever before and we, as Procurement Pros should be making the most out of such a rich opportunity to secure improved roles for us.

We covered a lot of different top level topics in this episode and you can skip along to a section that suits you using the timestamps below.

0000 Intro

1:39 generic procurement job descriptions

3:00 work is needed by hiring managers to recruit for the skills gap

3:36 hybrid working for procurement pros

9:40 the skills shortage on procurement

12:15 salary in the job description

13:10 salaries in procurement

13:55 how to make procurement more interesting to new people

16:00 the entry point to the procurement

24:00 procurement and university

27:00 lack of diversity in the profession

Building supplier relationships has grown in significant importance over the last two years.

COVID19 disrupted Supply Chains all across the world.

Businesses scrambled to ensure they still had certainty of supply.

What they didn’t realise was that they were not necessarily the Customer of Choice for that Supplier any longer.

I came across Suppeco a few months ago and I wanted to bring them onto the Podcast to find out, from a tech perspective, how they can help us Supply Chain and Procurement Pros build more collaborative relationships within the Supply Chain.

They way, we can maintain our status as Customer of Choice and have better supply from the Supply Chain.

Check out the timestamps below to the relevant section of the podcast. My advice… listen to all of it.

• 00:00 Background to Sheldon and what he did pre-Suppeco


• 00:50 Difficulty driving value out of relationships


• 01:11 Using Excel/PPT to build out Relationships


• 02:00 The start of Suppeco


• 03:17 The issue of managing Supplier Relationships


• 05:52 Building Suppeco


• 08:15 What Suppeco is


• 10:11 Using live data for insights not reports


• 14:40 How do we create KPIs/SLAs


• -16:14 How to get suppliers to use the platform


• 1930 - Awesome Insights into Suppeco


• 20:55 - User Experience matters with Procurement Tech

Check out Suppeco here

Connect with Sheldon here

Fairmarkit is the intelligent sourcing platform and they automate sourcing events for enterprise clients so they can work on more interesting things. I caught up with Erin McFarlane, VP of Services at Fairmarkit to talk to her about her reason for being in the Procurement space and what Fairmarkit offers as a service to people like you and me as Procurement and Supply Chain pros.

Check out the Full Show Notes here.

Subscribe to World of Procurement Here.

Get the book:

UK -  Good to Great by Jim Collins

US - Good to Great by Jim Collins

Support me as a content creator over on Patreon for a small amount of money each month. This same, awesome content will always be available to you all but creating content is expensive and I'm looking to expand my ability to make more and better content. This will help by giving you way more access to me, the process and massive influence over the types of content I create for all of you. Check it out here.

Hey Procurement Legends, I've been reading the most incredible book by Jim Collins titled Good to Great. It's all about the concept of level 5 leaders in a hierarchal system have taken companies from...Good to Great. 

I started reading it to answer some of my own internal questions here:

• What are these 5 different levels?


• What makes a company great?


• How to become a great leader?

And whilst I've been reading the book, taking notes and processing the content, I started to think about how the hierarchy could be used to attribute procurement people and procurement leaders to each of the hierarchies and why we should all be striving to be at the very top, say a level 4 or even a 5 to elevate this Procurement Profession.

As an Amazon Associate I earn from qualifying purchases.

If you’ve ever tried to run an event, to get your Suppliers in a room to share a vision, a requirement and to breed innovation and collaboration - it can be a nightmare. It requires not just a logistical masterclass but you need to be clear on why you want the Suppliers there, why it’s a good use of their time and what outcomes you want from the event.

Supplier Day is a Service Provider that enables you to create virtual supplier events, or Supplier Days, to enable meaningful collaborations with your supply chain.

In this World of Procurement Podcast Episode, we talk about the issues of creating Supplier events, the perks to having virtual only events, and how to get the most of the events. Supplier Day enables this to become the norm rather than the extraordinary.

Timestamps for the Podcast:

00:00 Introduction to Caitlyn

00:51 Importance of Communication

03:40 What is the Supplier Day Service Offering

08:45 Issues running Supplier Events alone

12:20 The experience with Supplier Day

14:40 Virtual/Digital Supplier Events are here to stay

17:10 Perks of Virtual over Physical events

24:45 Making the decision makers visible

29:00 Where to find Supplier Day

Connect with Caitlyn here on LinkedIn and make sure you check out the Supplier Day LinkedIn page.

Doug Johnson-Poensgen is the Chief Executive Officer and Co-Founder of Circulor. We covered a lot of ground in this 25-minute podcast and this podcast is going to be exceptionally beneficial to you if you are currently looking at your supply chain and wondering how can we improve visibility, how can we reach our sustainability goals using our supply chains and how do we know what is in this product? 

I think all of us, regardless of sector, are starting to have more conversations around this.   Circulor describes itself as a company that provides Traceability-as-a-Service to verify responsible sourcing, to underpin effective recycling and to improve efficiency. We reach parts of OEM's supply chains that most currently have little real visibility into.  

Circulor boasts high profile clients such as Jaguar Landrover, Volvo, Polestar and Boeing. Circulor is built upon traditional databases and distributed ledger technology from Hyperledger, a blockchain company. 

Check out the timestamps for this Procurement Podcast Below:

• Intro 00:00


• What Mica is and how it is used in Electric Vehicle Battery Technology 1:11  


• Doug’s Business background 2:21Carbon Emissions in the Car Manufacturers supply chains 3:35


• How Procurement Teams can aid net-zero manufacture 4:40


• Insight into Circulor’s customers: Jaguar Landrover, Daimler, Polestar (who have just committed to their first Net Zero Car by 2030) 5:00


• How Doug Came up with the idea to found Circular 5:41  


• How Circulor uses databases and Blockchain 8:17 (https://www.hyperledger.org/use/fabric) (https://www.hyperledger.org/learn/publications/tantalum-case-study) 


• Doug is a sceptic on blockchain 9:12


• The changing role of the Procurement Profession 12:15


• There are visionary procurement professionals in sustainability 16:35  (Martina is a visionary - https://www.linkedin.com/in/martina-buchhauser/)


• Volvo’s use of traceability in its Procurements 18:23


• What procurement can do to drive sustainability and change the status quo 19:38


• A future vision that Procurement can help build 24:40


• Where to find Doug and Circulor 26:00

Find our more about Circulor here: https://www.circulor.com

Connect with Doug: https://www.linkedin.com/in/dougjohnsonpoensgen/

Find more awesome Procurement content at World of Procurement

If you want to learn how to become a Contract Management Pro in the World of Procurement, start here.

I've got one ask of you whilst your listening to this Podcast. Go leave a review wherever you listen to podcasts. Those 5 star reviews and feedback really help me in the rankings and give me a rush of enthusiasm to keep this going. I appreciate you for listening to this episode.

In this Podcast Episode of the World of Procurement Podcast, we are talking to a Marketing Procurement Professional and expert, Stuart Dunk, who has experience working for some massive Companies, such as Nike. We go into detail about Stuart’s background pre-procurement and his extensive Marketing Procurement background at some of the biggest names where he developed true expertise in Marketing.   

We cover. Stuart’s company that he set up during COVID, which is a feat in Entrepreneurial spirit, and how he’s been advising agencies on how they should approach procurement, how to price and shape responses to RFPs etc. This is something that just makes sense. Us Procurement Professionals can often forget there is someone at the other side (as illustrated so eloquently by Dr Leda Glyptis here).  

We cover why understanding Marketing, as a macro topic and not just Marketing Procurement, is vital if you want to be taken seriously in the world of marketing. People who know marketing and enjoy marketing are the ones who are best at Marketing Procurement.   

We talk about the value procurement pros can bring to marketing and how it is more than marketers think as old age perceptions around price still live and worry marketers about procurements intentions. We talk about how the best marketing procurement pros going into marketing enter that world and say what do you need, what are your metrics (this is similar to what Sarah Scudder broke down for us in this Podcast). 

Project Spring highlighted other value-added activities that Procurement Pros had for marketers.  CPOs have so many conflicting priorities and how savings are now not the number one focus but becoming more efficient is (Deloitte Global 2021 Chief Procurement Officer Survey)  

Why CIPS can be great for Marketing Procurement Pros and new entrants into the World of Procurement.

Check out what Stuart is up to at his Company and reach out to him if you need help in the Marketing Procurement space - Don’t Forget to Look. 

Resources/Books/Courses discussed throughout the Podcast: 

- Blair Enns, The Win Without Pitching Manifesto Book (US)

- Blair Enns, The Win Without Pitching Manifesto Book  (UK)

- Project Spring from the World Federation of Advertisers 

- Mini MBA in Marketing by Mark Ritson  

- The Institute of Practitioners in Advertising  

- Blair Enns, Win Without Pitching   

*As an Amazon Associate I earn from qualifying purchases*   Thanks for supporting the World of Procurement Project. Please share this awesome Procurement content with people in your network and organisation.

How to Hire the Best Procurement Pros has got to be high on your agenda especially as the recruitment market hots up and, based on what we are seeing currently post-covid, shifts to a candidate market.

But what I'm currently seeing are some of the most generic, bland and awful job descriptions that isn't telling me anything other than the hiring manager wants someone who knows a bit of everything or is an expert in everything. 

Make sure you leave a 5 STAR review wherever it is you listen to this Podcast.

Hey World of Procurement Legends, I'm back with a very different type of 5 minute podcast today and I do hope you are enjoying the experimentation I'm undertaking with this Procurement Podcast at present. I'd almost suggest that before you listen to this Podcast, you head over to Art of Procurement and you read this article - https://artofprocurement.com/is-procurement-moving-away-from-category-management/.

I share my views on why I think there's more value to a Service Provider view of Procurement rather than a Category view. 

Would love to hear your thoughts too.

Make sure you connect with Philip on LinkedIn - https://www.linkedin.com/in/philipideson/

Hey Procurement Legends, I thought that this five minute format of the podcast might be a good way to share some questions and some ideas around topics that are out there that we need to do more on as a profession. I thought I'd start off with Sustainability within the Supply Chain in this episode. I've seen it in my LinkedIn feed, I've had conversations about it recently and those two things combined mean we as a profession are getting more serious on this.

Check out this episode I recorded with Marina who is an expert in this area - https://link.chtbl.com/SustainableProcurement 

Hey Procurement Legends, continuing on with the new non-guest 5 min short form podcast episodes, I wanted to talk about Procurement Tech. There are a crazy number of solutions out there right now and you can check a whole bunch of them out over on Digital Procurement World here - https://conference.dpw.ai/demo/demo-application/.

What's my message in this episode:

We have options

These companies aren't always good at marketing themselves to Procurement Pros

Sweep the marketplace when undertaking RFPs or you might miss out on a gem.

It would make my day if you could head into the review section and leave a 5 start review wherever it is you listen to podcasts! Appreciate you all. 

Ever wondered how you can better use LinkedIn to find Procurement Roles without having to hit apply now on roles? You need to work with a few trusted Recruitment Agencies and more importantly, work with a specific recruiter from that Agency. 

This is the best and most impactful way to find work when the economy is good and bad.

I dive into this in a new 5 min format on the podcast. 

If you want to learn Contract Management make sure you've checked out this Course - https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A 

If you’ve worked in and around Procurement you know there are a few types of Procurement Professionals.

You’ve got the I don’t care Professional. Calling these people Professional is a stretch of the imagination and an insult to the true procurement Professional. These are the type of Procurement people that fell into the job and are bitter about it. There’s no hiding that many people do not grow up wanting to get into Procurement. It just kind of happens. I’m sure many of you reading this right now have a story to tell as to how you got into procurement.

The problem with the crowd that is bitter about it is that they are doing a lot of harm to the Profession. They are typically the argumentative type who fight non-existent battles as everyone plots to bring them down. It’s a fabrication. These people believe that their role is to place POs and send emails and that’s about it. What is worse is when one of these Procurement People are placed into a role of more responsibility and they lead their team into the depths of their bitterness.

All is not lost if you’ve felt like this.

All is not lost if you’re working in a team that operates this.

I’m going to talk to you about what the Best Procurement Pros do and why you should emulate this in your career.

These were the words I wrote for the article I published last summer which has been the most popular read on World of Procurement over the last 12 months. I wanted to bring the article to life in a Podcast and share my extended views and share some stories. I think you’ll like this one.

Hey Procurement Pros, are you struggling with the speed of your Contract Reviews as Legal is holding you up? If so, you might find some insights here that are going to help you out. You need to simplify the entire process, empower your staff and get a position agreed upon within the Business as to what the Contracts you sign up to entail.

Let's talk about the role that is best described as a "Commercial Contracts Management" that can provide a lot of commercial, procurement and legal knowledge in a single packaged role. These roles, supported by qualifications from World Commerce & Contracting and/or CIPS, with individuals who have a strong commercial and/or legal background from previous roles or degrees can really impact your Contracting process. 

Check out the short article I wrote on this - https://worldofprocurement.co.uk/articles/procurement-doesnt-need-legal-for-contract-reviews 

Check out the Contract Management for Beginners Course here - https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A

Connect with me on LinkedIn - https://www.linkedin.com/in/danielbarnesgsd/