Art of Procurement
Learn from Procurement Experts. Host Philip Ideson talks with thought leaders who share the trends, strategies and tactics that you can lever to elevate the role of procurement - and your career.
info_outline
726: Unpacking SAP’s 2024 Economist Impact Report W/ Baber Farooq
08/26/2024
726: Unpacking SAP’s 2024 Economist Impact Report W/ Baber Farooq
“One thing is very clear from our research: the skill sets for procurement are changing. Whatever the skill sets are today, they are not going to be the skill sets that are needed tomorrow.” -Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP SAP recently released the 2024 results of their annual Economist Impact survey. It contains insights into the overall health of procurement and provides a look at C-suite perspectives on procurement’s role and reputation in the business and the most pressing challenges and opportunities facing them today. This year, they surveyed over 2,300 C-suite executives across procurement and other functional areas and C-suite positions. To unpack the survey results, Philip Ideson is joined in conversation by Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP. In addition to discussing key findings and insights, they talk about: How this year’s responses differ from previous years and what these new trends say about the future of procurement Major factors impacting the procurement operating model, including new reporting structures, compliance demands, and sustainability expectations How digitization is putting pressure on (and opening new opportunities for) traditional procurement organizations Links:
/episode/index/show/artofprocurement/id/32635362
info_outline
725: Procurement 6 | August 23rd, 2024
08/23/2024
725: Procurement 6 | August 23rd, 2024
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.
/episode/index/show/artofprocurement/id/32670667
info_outline
724: Will Category Management Ever Become Mainstream?
08/19/2024
724: Will Category Management Ever Become Mainstream?
Category management has been around for decades - so why hasn’t it become ubiquitous? Many of the objectives procurement needs to satisfy - both qualitative and quantitative - can be addressed by a category management program. Taking a more comprehensive approach to spend and supplier management can deliver improved cost flexibility, more leverage in tightly held markets, and a closer alignment with the priorities of the business. Despite all of these benefits, category management struggles to secure broad adoption. In this solo episode, Philip Ideson speaks about his personal experience with category management and the challenges and opportunities he sees. Listen in to discover: The roadblocks that prevent category management from living up to expectations Advancements in procurement technology that will enable everyone in the company to play a larger role at the category level Why he still believes category management IS the future of procurement Links:
/episode/index/show/artofprocurement/id/32541157
info_outline
723: Procurement 6 | August 16th, 2024
08/16/2024
723: Procurement 6 | August 16th, 2024
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.
/episode/index/show/artofprocurement/id/32576087
info_outline
722: Transforming Procurement at Roche: A Roadmap for the Future w/ Patrick Foelck
08/12/2024
722: Transforming Procurement at Roche: A Roadmap for the Future w/ Patrick Foelck
“What ultimately drove all of us – leadership team, colleagues, and people in procurement – was the excitement about the future. The ability to contribute very differently to the success of the company, ultimately impacting the patient journey, is a great purpose that we have – curing and helping patients.” - Patrick Foelck, Head of Strategy & Transformation and Head of Insights & Enablement Procurement at Roche How procurement prepares for the future, one that includes accelerating digital innovation, may determine whether they have a future at all. In this episode, Philip Ideson discusses the importance, if not existential necessity, of procurement transformation with Patrick Foelck, Head of Strategy & Transformation and Head of Insights & Enablement Procurement at Roche. As Patrick said, “There must be more than running this singular, one-dimensional process and chasing the savings as a one-dimensional outcome. I think that is also our future. If we don’t get out of it, or if we don’t build on it, procurement will be dead to an extent, or replaced by technology or by an external party.” In this episode, Patrick and Philip tackle the ‘big’ questions around the future of the procurement operating model and the role of procurement transformation in securing that future, while also discussing: How to build the procurement operating model of the future, pulling together insights and enablement, delivery, business partnering, capabilities, and digitization Roche’s own transformation journey and what success looks like post-transformation Defining, measuring, and achieving transformation success with KPIs beyond savings Links:
/episode/index/show/artofprocurement/id/32444062
info_outline
721: Procurement 6 | August 9th, 2024
08/09/2024
721: Procurement 6 | August 9th, 2024
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.
/episode/index/show/artofprocurement/id/32498967
info_outline
720: Establishing a Single Source of Truth for Third-Party Risk in Financial Services with Ivalua
08/05/2024
720: Establishing a Single Source of Truth for Third-Party Risk in Financial Services with Ivalua
“What’s interesting in financial services is that third-party risk management is very different than supplier risk management. When a financial institution looks at risk, they look at risk at the relationship level, not just at the supplier level.” - Arnaud Malardé, Director of Product Marketing, Ivalua In the highly-regulated financial services industry, effective third-party risk management is non-negotiable. It can make or break operational success, not to mention client trust. Even though avoiding risk altogether is not realistic, it doesn’t have to feel like an uphill battle. In this episode, Kelly Barner speaks with Arnaud Malardé, Director of Product Marketing at Ivalua, and Vivek Jayaraj, Managing Director at Deloitte Consulting LLP, about how procurement can turn third-party risk management into a strategic advantage for the business. As they explain, streamlining business practices and supporting them with well-integrated digital platforms can create the best environment for managing third-party risk and achieving successful outcomes for the business. They also share their ideas about: What a ‘single source of truth’ for third party risk looks like in practice How to align risk management with supplier management Best practices for leveraging AI in third-party risk management platforms Links:
/episode/index/show/artofprocurement/id/32330397
info_outline
719: Procurement 6 | August 2nd, 2024
08/02/2024
719: Procurement 6 | August 2nd, 2024
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.
/episode/index/show/artofprocurement/id/32365342
info_outline
718: A Fresh Take on the Future of Procurement with The Hershey Company’s Sherry Ulsh
07/29/2024
718: A Fresh Take on the Future of Procurement with The Hershey Company’s Sherry Ulsh
“You always really need to look at people, process, and technology. If you don’t look at all three and understand where you are and where you need to be in those areas, you are just going to be chasing.” - Sherry Ulsh, Director, Indirect Procurement, The Hershey Company At the CoreTrust Conference in April 2024, Philip Ideson had the opportunity to sit down with Sherry Ulsh, Director of Indirect Procurement at The Hershey Company, about a wide range of topics, including her own journey from finance to procurement, the evolving role of GPOs, and the changing skill sets required in modern procurement roles. Sherry shared her views on the importance of supplier relationship management and stakeholder management, both of which are reflected in her belief that procurement’s value and influence in the business are best realized when they achieve a balance of people, process, and technology. In this episode, Sherry also shares her views on: How to define procurement’s value proposition across different industries and organizational models The evolving role of GPOs, and how utilization of the GPO model today differs from in the past Shaping internal and external perceptions of procurement’s value, and how, for example, CFOs and other C-suite leaders can influence procurement’s perceived value beyond cost savings Links:
/episode/index/show/artofprocurement/id/32242997
info_outline
717: Procurement 6 | July 26th, 2024
07/26/2024
717: Procurement 6 | July 26th, 2024
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.
/episode/index/show/artofprocurement/id/32273257
info_outline
716: Applying ISO Standards to Procurement w/ Melanie Blackmore
07/22/2024
716: Applying ISO Standards to Procurement w/ Melanie Blackmore
“Sustainability is at the top of the agenda for businesses, because now they have to demonstrate exactly what their carbon footprint is and demonstrate with complete credibility and transparency exactly what they’re doing.” - Melanie Blackmore, Founder & CEO Blackmores (UK) Ltd and Carbonology Ltd When Melanie Blackmore, Founder & CEO Blackmores (UK) Ltd and Carbonology Ltd, says that she is deeply passionate and “in love with” standards, she readily admits not everyone will be able to relate to her enthusiasm. But, applying ISO (International Organization for Standardization) can give organizations, and specifically procurement teams, the direction they need to ensure quality, safety, efficiency, and even compliance across industries and for both goods and services. The stakes can be high, but the benefits of implementing ISO standards are often even higher. In this episode, Philip Ideson explores the ins and outs of an ISO framework and how it can help a business improve their processes by following a set of internationally recognized best practices. They discuss: An overview of current ISO standards and how they have evolved How organizations can apply ISO standards to achieve their sustainability goals The differences between standards and certifications and how this impacts implementation Links:
/episode/index/show/artofprocurement/id/32023527
info_outline
715: Procurement 6 | July 19th, 2024
07/19/2024
715: Procurement 6 | July 19th, 2024
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.
/episode/index/show/artofprocurement/id/32179712
info_outline
714: Category Management: How Far We’ve Come, How Far We Can Go w/ Mark Webb
07/15/2024
714: Category Management: How Far We’ve Come, How Far We Can Go w/ Mark Webb
“I think category management is great fun because you have the freedom to do things. It’s not following a rote process. It’s using structure to be creative. I think that’s the great benefit of it.” - Mark Webb, Managing Director at Future Purchasing For many in procurement, category management is “old hat.” Some even assume that widespread adoption and integration of category management structures and processes within the business are non-issues in 2024. They see category management as a mountain that has been scaled, and now procurement just needs to sit back and enjoy the view. When we look more closely, however, there is still significant room for improvement in category management strategy and for expanded scope of implementation throughout the business. In this episode, Philip Ideson welcomes back Mark Webb, Managing Director at Future Purchasing, for a deep dive into the current state of category management, including where we’ve been and how far we have left to go. Mark also shares the results of the 2024 Global Category Management Report, a large, comprehensive study Future Purchasing conducts in partnership with Henley Business School. They discuss the importance of stakeholder involvement, the need for more consistency and effective communication, the distinctions between category management and strategic sourcing, and the delicate balance between internal expertise versus external resources in implementation. Philip and Mark also explore: Why 80 percent of stakeholders don’t fully understand their role in category management, and what procurement can do to fix that Practical advice to streamline category planning and improve stakeholder engagement The ideal model for category management when considering big versus small teams Links:
/episode/index/show/artofprocurement/id/31899882
info_outline
713: Procurement 6 | July 12th, 2024
07/12/2024
713: Procurement 6 | July 12th, 2024
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.
/episode/index/show/artofprocurement/id/32065967
info_outline
712: Reflections of an AI Contrarian w/ Alan Veeck
07/08/2024
712: Reflections of an AI Contrarian w/ Alan Veeck
“It’s incumbent upon all of us to be change ready, to be curious, to always be learning because this overestimated technology today will truly be delivering huge results tomorrow.” - Alan Veeck, CEO & Founder at Summit Procurement There are very few voices in procurement right now – or businesses in general, for that matter – who are raising the flag that all of the fear, enthusiasm, and hand-wringing over AI’s growing influence might be one big, collective overreaction. Alan Veeck, CEO & Founder at Summit Procurement, is one such voice. In this episode, he shares with Philip Ideson why his contrarian attitude toward AI has little to do with his belief that AI will indeed revolutionize the space. Alan explains how decades of seeing other technology hype cycles come and go have given him a more measured outlook for innovative or emerging digital breakthroughs (including generative AI) and why he thinks other procurement leaders should dial down the frenzy around AI that likely isn’t doing their teams, or the business, any favors. In this conversation, Alan also talks about: Why he thinks AI is not going to disrupt the procurement job market nearly as much or as quickly as many people think How to separate the overblown capabilities from real-world use cases where AI can genuinely move the needle for procurement today How CPOs can embrace AI and maximize its impact without leading their teams, and the business, down a rabbit hole of new solutions and platforms that cause more problems than they solve Links:
/episode/index/show/artofprocurement/id/31885687
info_outline
711: Procurement 6 | July 5th, 2024
07/05/2024
711: Procurement 6 | July 5th, 2024
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.
/episode/index/show/artofprocurement/id/31993882
info_outline
710: All About Relationships: Changing Your Mindset for Better Procurement w/ Eric Dulin
07/01/2024
710: All About Relationships: Changing Your Mindset for Better Procurement w/ Eric Dulin
The speed of business is accelerating dramatically. Procurement can change how they address challenges and support stakeholders, or they can remain slow to adapt and miss out on key opportunities. In this week’s podcast, Eric Dulin, Director of Procurement, Digital & Technology at Yum! Brands, shares how he has shifted his mindset throughout his career to focus more on building relationships and approaching procurement with a service-first attitude. He and Philip also discuss Eric’s book, Win-Win-Win: Collaborative Approach to Procurement in the Era of Digital Metamorphosis, pulling out a few quotes that can help procurement professionals reshape the way they work within their roles. Throughout the episode, Eric uses first-hand lessons to offer transformative truths, including: The difference between transactional and strategic procurement—and which is better How ditching the adversarial “sales versus procurement” mindset results in stronger relationships and better wins The importance of focusing on how procurement helps the buyer and supplier using key fundamentals Links:
/episode/index/show/artofprocurement/id/31837192
info_outline
709: Procurement 6 | June 28th, 2024
06/28/2024
709: Procurement 6 | June 28th, 2024
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.
/episode/index/show/artofprocurement/id/31884957
info_outline
708: Unleashing the Power of Generative AI in Procurement w/ Lance Younger and Nick Heinzmann
06/24/2024
708: Unleashing the Power of Generative AI in Procurement w/ Lance Younger and Nick Heinzmann
“Longer term, I think people haven’t fully understood the power of generative AI beyond their own personal use cases. But now, the central theme is really testing out where it can go.” - Nick Heinzmann, Head of Research at Zip AI has been in the mainstream long enough now that it’s time for procurement to get specific and systematic about where, when, and how to apply it to the tech stack in order to generate the most value for the business. In this episode, Philip Ideson and Kelly Barner speak with Lance Younger, CEO of ProcureTech, and Nick Heinzmann, Head of Research at Zip, about current best practices for positioning AI in the tech stack and how procurement can navigate the inherent risks that may accompany digital transformation. They also discuss the value and benefits AI can bring to procurement, like optimizing the S2P workflow, data management, compliance, and process efficiency. Listen in to discover: The best ways to apply and integrate AI across procurement’s entire stakeholder network The most important areas of risk procurement should be aware of when adopting AI The ideal role AI plays in the procurement tech stack, including outsourcing Links:
/episode/index/show/artofprocurement/id/31798487
info_outline
707: Procurement 6 | June 21st, 2024
06/21/2024
707: Procurement 6 | June 21st, 2024
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.
/episode/index/show/artofprocurement/id/31825612
info_outline
706: GPOs as Value Drivers within Private Equity Procurement w/ Paul Dhaliwal
06/17/2024
706: GPOs as Value Drivers within Private Equity Procurement w/ Paul Dhaliwal
Procurement teams within private equity firms manage hundreds of portfolio teams worldwide. They must prove the value they create with each program at any given moment. With precise, robust data not always available, these teams are left to determine supplemental ways to demonstrate cost savings, capex reductions, and cost avoidance to C-suite stakeholders. In this episode, Philip sits down with Paul Dhaliwal, Director of the U.S. Capstone Team at KKR, at the 2024 CoreTrust Conference in Tampa to discuss how GPOs play a key role in driving value and change across private equity portfolios. They also dive into how Paul and his team use GPO relationships to tell a clearer story with the data they have. Paul shares his insight on leveraging GPOs within private equity, including: The specific metrics and methods his team uses to measure procurement value across KKR’s portfolio How identifying critical areas of engagement with the right GPO partner empowers teams to leverage those relationships and drive results at scale Why private equity procurement teams need to track the right data points and build credibility so they can sell a specific story with greater ease. Links:
/episode/index/show/artofprocurement/id/31714412
info_outline
705: Procurement 6 | June 14th, 2024
06/14/2024
705: Procurement 6 | June 14th, 2024
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.
/episode/index/show/artofprocurement/id/31700272
info_outline
704: The Future of Digital Contract Management w/ Paul Bagley and Toby Laforest
06/10/2024
704: The Future of Digital Contract Management w/ Paul Bagley and Toby Laforest
“A contract lifecycle management platform drives processes for you. That drives your price down, your risk down, and you get the best of all worlds like procurement wants." - Paul Bagley, Director of Commercial Contracting at Acosta Historically, procurement viewed contracts as a legal formality, something only to be referred to when things go wrong with a supplier. This outdated approach leaves a goldmine of untapped value and insight on the table, and it’s time for procurement to have a mindset shift when it comes to the way they use, store, value, and leverage digital contracts. In this episode, Philip Ideson and Kelly Barner talk with Paul Bagley, Director of Commercial Contracting at Acosta, and Toby Laforest, Director of Product Marketing at Ironclad, about how procurement can leverage the full potential of digital contracts and the technology required to make it happen. They’ll explain: Why digital contacts are strategic assets that can provide bottom-line value to the business Why most procurement teams are currently not taking advantage of AI and contract lifecycle management platforms to extract value from their contracts (and what that mistake is costing them) The myriad benefits procurement - and the business - will see when they normalize contract discussions and regularly refer to contract-based insights with suppliers and stakeholders Links:
/episode/index/show/artofprocurement/id/31534202
info_outline
703: Procurement 6 | June 7th, 2024
06/07/2024
703: Procurement 6 | June 7th, 2024
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.
/episode/index/show/artofprocurement/id/31602472
info_outline
702: Meeting Supply Chain Volatility with Agility and Resilience w/ Frank McKay
06/03/2024
702: Meeting Supply Chain Volatility with Agility and Resilience w/ Frank McKay
“You have to make investments in your supplier network if you want to be successful. The old days of ‘I have to win, and you have to lose’ are gone. We are so transparent. We are using technology. Relationships are key.” - Frank McKay, Chief Supply Chain & Procurement Officer, Jabil In 2023, Jabil conducted a 2023 Supply Chain Survey in collaboration with SIS International Research. In this episode, Philip Ideson sits down with Frank McKay, Chief Supply Chain & Procurement Officer at Jabil to discuss the results, which pinpointed things like cost reduction, customer satisfaction, communication, and visibility as some of procurement’s top-of-mind challenges. In addition to sharing his own experiences as a practitioner for over 25 years, Frank also discusses his perspective on the evolving role of procurement and how they can better reduce supply chain operational costs, as well as how Chief Supply Chain Officers should be adjusting their strategies in response to rapidly shifting global supply chain dynamics and volatility. In the episode, they also explore: How procurement should be integrating AI and machine learning technologies into their processes to elevate their function and drive greater impact The complex nature of managing global supply chains and how to meet these challenges How procurement can help build more resilient supply chains that can adapt to geopolitical tensions, market volatility, and rapid technological advancements Links:
/episode/index/show/artofprocurement/id/31498902
info_outline
701: Procurement 6 | May 31st, 2024
05/31/2024
701: Procurement 6 | May 31st, 2024
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.
/episode/index/show/artofprocurement/id/31518607
info_outline
700: From Practitioner to Entrepreneur: Mark Holyoake Interviews AOP Founder Philip Ideson
05/27/2024
700: From Practitioner to Entrepreneur: Mark Holyoake Interviews AOP Founder Philip Ideson
“At the end of the day, we exist to try and help the procurement profession be more impactful. That’s the lens through which we look at everything.” - Philip Ideson, Founder and Managing Director of Art of Procurement In this milestone 700th episode, Art of Procurement Founder and Managing Director Philip Ideson has the tables turned on him as he’s interviewed by longtime friend and colleague Mark Holyoake, Owner and Managing Director of Holyoake Search. In this special conversation, recorded face-to-face, Philip gets personal about his journey from an early career in automotive procurement to the motivations behind his decision to launch the Art of Procurement and how AOP’s evolution into a successful media and advisory company has challenged and strengthened Philip’s own leadership skills along the way. Philip shares his insights with Mark on what it takes to succeed as an entrepreneur and how resilience, continuous learning, and embracing change are essential to that success. Highlights from the episode include: How a rocky entry into the procurement profession was buoyed by his passion for travel and learning about new cultures Recounting the evolution of Art of Procurement from its early days of content creation to the most successful, longest-running podcast in the industry, along with a growing advisory and consulting arm that connects practitioners with subject matter experts The essential skills that have helped Art of Procurement achieve success, including forward-thinking, relationship building, understanding ROI versus just cost, and resilience in the face of challenges. Links:
/episode/index/show/artofprocurement/id/31339967
info_outline
699: Procurement 6 | May 24th, 2024
05/24/2024
699: Procurement 6 | May 24th, 2024
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.
/episode/index/show/artofprocurement/id/31419997
info_outline
698: Optimizing Procurement’s Source-to-Pay Strategy w/ Baber Farooq
05/20/2024
698: Optimizing Procurement’s Source-to-Pay Strategy w/ Baber Farooq
“In some weird sense, as we see the power of technology, the more apprehensive we get about how much information it should have.” - Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP Procurement leaders face a number of challenges in optimizing their source-to-pay processes, and they are increasingly relying on AI tools to address those challenges. In this episode, Philip speaks talks with Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP, about the positive and negative trends he is seeing across source-to-pay, including in spend analytics, data management and governance, category management, risk management, scenario planning, and AI integration. Baber shares his insights on evolving trends in source-to-pay, including: How spend analytics has emerged as the number one technology imperative where AI can enable cost savings and risk management insights Why scenario planning is gaining importance in category management for better risk management amid increased volatility The skills and talent procurement will need to keep up with a shrinking labor force and growing digital demands Links:
/episode/index/show/artofprocurement/id/31290897
info_outline
697: Procurement 6 | May 17th, 2024
05/17/2024
697: Procurement 6 | May 17th, 2024
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.
/episode/index/show/artofprocurement/id/31312257