Innovation Mindset Value Beyond Savings

100: Take a Long Term Approach to Generating Procurement Driven Value w/ Mark Perera

Mark Perera is on a mission to help companies build deeper and more valuable business relationships.

As a repeat procurement entrepreneur – having previously founded Procurement Leaders – Mark today helps companies use technology to change the value they can create from their most material supplier relationships.

At the heart of today’s Art of Procurement is how we – as procurement professionals – can focus on generating business value and away from savings being at the heart of our value proposition.

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 “How you handle the extended innovation network, that’s the future of procurement. But it’s going to take a while. The early adopters, innovators, are starting to invest both in that change of mindset, and the partnering side, and bringing new value chips to the space. If you can start unlocking the potential of your suppliers in their niche areas, and the business is willing to get beyond the not invented here side, then you’re in a magical space.” 

In this episode, you will learn:

  • The founding story of Old St Labs and Vizibl.
  • Why building an extended innovation network is key to the future of procurement.
  • How to increase the focus on supplier partnering over time to enable long term change.
  • The important of a proof of concept.
  • Why external consultants are often key to enable you to rebuild trust with suppliers as you look to embark on a value-driven relationship.

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About the author

Philip Ideson

Philip Ideson is passionate about the role that procurement professionals and leaders can plan in creating competitive advantage for their organizations in ways that go beyond the traditional value proposition.

Philip founded Art of Procurement as a way for the procurement community to learn from each other, increasing the impact they have on their organizations. In 2017, he co-founded Palambridge, a virtual platform of procurement experts, technology, and intelligence. Palambridge provides a broad range of flexible procurement solutions, available on-demand.

Prior to Art of Procurement and Palambridge, Philip enjoyed a career that spanned the procurement value chain, working across three continents for organizations such as Accenture, Procurian, Ally Financial, Pfizer and Ford Motor Company.