Best Of Disruption Future of Procurement Innovation Technology

080: Disruptive Innovation & the Future of Procurement w/ Christian Lanng

As the Co-Founder, Chairman and CEO of Tradeshift, Christian Lanng is on the front lines of the technology evolution, and he gets to see first-hand the impact that innovative technology is having – and will have – on the enterprise.

In today’s Art of Procurement podcast, I sit down with Christian to understand what this will mean for procurement. If Christian’s vision materializes, it will mean a seismic shift is in store for our profession over the next 10 years.

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 “I don’t think that most large companies will have a back office in 10 years. I think that the idea you have a procurement department, you have all of these cost centers that are not contributing to the top line is just going to be gone. We are digitizing and automating our way out of most activities. Procurement has to become a strategic revenue driver, and if procurement resists, other people in the business will do it for them” 

In this episode, you will learn:

  • Why the measure of procurement’s success will become the cost to change suppliers, not the cost savings achieved from your existing suppliers.
  • Why we will stop buying products and services, and start buying outcomes.
  • How we will need to think more like a data scientist, analyzing new and expanding sources of information to determine the projects and transactions that matter, and that require human interaction.
  • How organizations will transition from current delivery models to accessing procurement talent on-demand, using talent marketplaces.
  • Why Christian believes that procurement leaders can turn their retained staff into a profit center by selling that expertize to non-competitors.
  • The benefits of a platform & applications approach when building your procurement technology infrastructure.
  • Why we are already in the “summer” of bots, and why AI will be the technology that has the biggest impact on procurement.
  • Why the procurement professional of the future will need to be “problem solvers” and “opportunists”.

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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.