Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.

Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.

Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.

“Every procurement journey is unique, and now we have the tools and technologies that allow us to be a lot more flexible in how we build procurement operating models so that we can truly adapt to exactly what the business needs.” – Philip Ideson, Founder and Managing Director, Art of Procurement

In the hustle and bustle of end-of-year reporting, wrap ups, and planning for the year to come, it’s important for procurement to take a pause – even a very brief one – and think about how they should be reacting to some of the ‘bigger picture’ forces impacting the function and the business in general.

In this episode, Philip Ideson and Kelly Barner take a look back at the recent Mastermind LIVE 2024, one of AOP’s most popular digital events of the year, where we considered some of the most important, even challenging, issues facing procurement today. They debrief each of the 6 sessions and tease out the most important insights, surprising and unexpected moments, and tactical call outs that procurement should keep in mind as they plan for 2025 and beyond.

Kelly and Philip add their own perspectives to the session topics, including:

• How procurement is positioning themselves for success in 2025 and how procurement operating models should evolve to clear the way for success
• What kinds of changes – both good and bad – we can expect to procurement roles in the coming months or years, and which jobs are least likely to survive AI
• How procurement can build a tech roadmap that maximizes stakeholder adoption and user satisfaction
• And much much more!

Links:

• Watch Mastermind LIVE 2024 on demand
• Philip Ideson on LinkedIn
• Kelly Barner on LinkedIn
• Subscribe to This Week in Procurement
• Subscribe to Art of Procurement on YouTube

Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.

Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.

Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.

“There are not many functions, if any, other than procurement that sit in a position to both positively and negatively have such an impact on organizations, on strategy, on direction.” - Gordon Donovan

In an era of increasing uncertainty and existential angst over AI, Gordon Donovan has a refreshingly optimistic view of procurement’s future. In fact, he says, procurement might just very well save the world.

While this may be a hyperbolic statement, it’s not that far off the mark, as Gordon explains to Philip Ideson in this episode of Art of Procurement.

As Gordon sees it, procurement is one of the only functions that holds the power – or privilege – to directly impact almost every corner of the business, well beyond cost. As such, how procurement approaches things like relationship building, crisis management, volatility, risk assessment, digital disruption, and strategic planning will play a huge role in determining just how successful they are in ‘saving the world.’

In this episode, Philip and Gordon also discuss:

• Redefining procurement as a risk function, critical to business continuity and supply chain visibility
• Procurement’s role in driving global supply chain trends in reshoring, nearshoring, and “friend-shoring”
• How establishing genuine trust with suppliers leads to bottom-line results for the business
  

Links:

• Gordon Donovan on LinkedIn
• Subscribe to This Week in Procurement
• Subscribe to Art of Procurement on YouTube

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.

“No matter how strong or how solid your foundations might be, the environment in which we operate is changing at such a pace that if we do not evolve with it, we will become obsolete.” - Sebastien Bals, EVP, Chief Procurement Officer at Merck Group

As technology – AI in particular – continues to transform the way we work and live, the future of procurement hangs in the balance.

In this episode, Philip Ideson and Sebastien Bals, EVP and Chief Procurement Officer at Merck Group, talk about the “two roads” facing procurement: one, defined by opportunity, innovation, and transformation, and the other marked by disruption, outdated roles and practices, and far more uncertainty.

They confront the larger, existential questions that keep many procurement leaders up at night, while recognizing that procurement’s willingness to adapt and adjust could be the very skills that keep them from traveling down the path to extinction.

They also discuss:

• Overcoming procurement’s inferiority complex and demonstrating value in new digital contexts
• How procurement can keep and leverage that long-coveted “seat at the table” they now enjoy
• Securing procurement’s future in an increasingly digitized, AI-powered world

Links:

• Sebastian Bals on LinkedIn
• Subscribe to This Week in Procurement
• Subscribe to Art of Procurement on YouTube

Procurement 6 is a short podcast from Art of Procurement that publishes in the Art of Procurement feed every Friday morning at 6am US Eastern Time.

Presented by a member of the Art of Procurement team, each episode has 6 short segments that summarize the week in procurement.

Segments range from procurement tips to podcast summaries, from details of events to news or overviews of blog posts that capture our attention.

“The visionary leaders can see the opportunities but also recognize that, while traditional skills in procurement still remain very, very important, they need to evolve to realize the true value of technology.” - Andrew Daley, Managing Director, Digital Procurement & Supply Chain, Edbury Daley

The skills and operating models procurement prioritizes are key to their success whether they are facing a single, large-scale transformation or if they are on a steady, continuous digitization journey.

Philip Ideson recently spoke with Andrew Daley, Managing Director, Digital Procurement & Supply Chain at Edbury Daley, in-person at SAP Spend Connect Live in Las Vegas.

Along with discussing insights from a recent research report on procurement technology skills, they explore the importance of centers of excellence, upskilling, and automation. Andrew also shares his views on:

• Why digital literacy, change management, and strategic thinking skills are critical for both practitioners and procurement leaders
• Strategies for attracting and developing top talent in procurement
• How AI and automation will impact traditional procurement roles, and the skills that will become more valuable in the process

Links:

• Andrew Daley on LinkedIn
• Subscribe to This Week in Procurement
• Subscribe to Art of Procurement on YouTube