Art of Procurement19 Helmi 2024

672: Redefining Procurement's Value and Shifting Mindsets W/ Chris Sawchuk and Vishal Patel

"Given all the things procurement is doing, it does seem that a lot of their work tends to go unnoticed or be undervalued or is boiled down to that one bottom-line savings number. The truth is that procurement is involved with a lot." - Vishal Patel, VP Product Marketing, Ivalua

Even though big events like the pandemic, inflation, global supply chain disruptions, and geopolitical conflict have reminded everyone how relevant procurement is to the organization, the full value procurement offers is still often misunderstood and underestimated.

Why is procurement so frequently undervalued when their impact can be felt across the business, not just to cost or risk management but also sustainability, product innovation, supply continuity, and business strategy?

To understand how shifting mindsets around procurement's value contribution are redefining their role in the business, Philip Ideson and Kelly Barner spoke with Chris Sawchuk, Principal and Global Procurement Advisory Practice Leader at The Hackett Group, and Vishal Patel, Vice President of Product Marketing at Ivalua.

In the episode, Chris and Vishal discuss:

New opportunities and approaches to performance measurement for procurement's value contribution beyond cost
The deepening value of risk management and the need for nuanced approaches to risk beyond traditional metrics
The evolving role of generative AI and emerging technologies as procurement's "co-pilots" in delivering value

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887: Sustainable Procurement: Where Policy Meets Practice W/ Nicole Darnall

"If you're not thinking about what you inherit through your procurement decisions, then you're not truly serious about managing your climate impacts." - Nicole Darnall, Professor, Arlene R. & Robert P...

12 Loka 34min

EP 018: Provider of the Week: Candex

"Everybody's trying to simplify. Everybody's trying to make the process better and the end-user experience for buying better." - Jeremy Lappin, Co-founder and CEO, Candex Are you frustrated by the end...

7 Loka 28min

886: The AI Performance Gap: What Procurement Leaders Are Doing Differently W/ Christopher Sawchuk

"It has to start with the business outcomes that we want. This becomes an operating model decision. Technology has to support the operating model that we're designing." - Christopher Sawchuk, Principa...

5 Loka 33min

Ep 02: The Agentic Procurement Diaries: The Work-Work Balance: Building an Agentic Supply Chain at SLB W/ Jeffrey Ostrander

Dear Diary… "I use AI a lot to help scout out things or pose challenges and see where solutions are being marketed along those lines." Jeffrey Ostrander runs a nearly $5 billion business in one of the...

30 Syys 38min

885: Procurement Should Be a Safe Pair of Hands in a Complex World W/ Frank Mckay

"Do we have a supply chain that we are building that is going to allow us to navigate and be agile enough, no matter what the world continues to throw at us?" - Frank Mckay, Chief Supply Chain & Procu...

28 Syys 34min

EP 017: Stop Buying Technology. Start Changing the Operating Model W/ Mason Morgan

"AI makes the answers cheaper, so the good questions and good judgment really become the coin of the realm." - Mason Morgan, Managing Director, Managing Director at CrossCountry Consulting focusing on...

23 Syys 37min

884: Beyond On-Time Delivery: Measuring Supplier Stability W/ Shayan Farshid

"You don't need an advanced platform to begin. You just need consistent definitions, discipline, to look at the data, and a willingness to move beyond the on-time delivery average to make really good ...

21 Syys 24min

Ep 01: The Agentic Procurement Diaries: Why This Is a Once-in-a-Few-Centuries Revolution

Dear Diary… "I believe we are in the midst of a revolution — and I think in a revolution, we as a vendor also want to invest a lot in educating the community on what's really changing and how it's cha...

16 Syys 34min