This Week in Procurement

This Week in Procurement: Augmented Reality in Procurement

Written by Philip Ideson
1.
MUST READ

I have talked a lot about the disruptive impact that new technologies are likely to have on the work that we perform as procurement professionals.  As such, I spend a lot of time trying to understand what these disruptions are, and how we can position ourselves to embrace rather than fear them.

This week, I came across an insightful post / video from Acquire Procurement Services, who hail from Brisbane in the beautiful Australian state of Queensland (one of my favorite places in the world!).

The team from Acquire have been experimenting with augmented reality (AR) software and gaming platforms to see how AR can be applied to data visualization in the procurement space.

Augmented Reality in Procurement: A New Way to Visualize Data | Simon Thompson
I can see all kinds of potential in using AR to help us better understand data, particularly where a key challenge for us is going to be understanding the mass of data that we will become available. I am fascinated to see how this evolves…



2.
OTHER INTERESTING ARTICLES

Managing Your Career: Are You a Leader, Maverick, Manager or Doer? |  Secret CPO (via Edbury Daley)

Five Top Procurement Leaders Look at What the New Year Will Bring | Coupa Blog

From Ideas to Savings | Pierre Lapree (Per Angusta) and Alun Rafique (Market Dojo)

Reflections on the LIVING Supply Chain SCRC Meeting | Rob Handfield, SCRC Executive Director & NC State University

Remko van Hoek at The Procurement Summit – Procurement Pitfalls and Pathways | Peter Smith, Spend Matters UK

Why Social Interaction with Supplier Can Help Grow Your Business | Jonathan O’Brien, Positive Purchasing



3.
PROCUREMENT RELATED NEWS

So ISG Bought Alsbridge.  That Happened | Phil Fersht, HfS

 

Boost to Small Business as Payment Reporting Rules Unveiled for Large Firms | Margot James MP

VC-Backed The Smart Cube Makes 3 C-Suite Hires | PE Hub

 



4.
QUOTE FROM THE ARCHIVE

“For many years people touted that every dollar you save dropped right to the bottom line. It was better to save than it was to sell, because for every unit you sold only a small portion dropped to the bottom line. I think what got missed in that is the fact that you can sell so much more. That sales number can be so much bigger, and add so much more to the company than you can ever save”

– Joanna Martinez, Art of Procurement Episode 66: Where to Look to Generate Procurement Driven Value

 



5.
THIS WEEK @ THE ART OF PROCUREMENT

110: The Art & Science of Influence w/ Gordon Donovan

111: Procurement Math & More: 10 Sins of Day-to-Day Procurement w/ Philip Ideson


I also wrote a blog post that accompanied episode 111: 10 Procurement Sins and the Actions You Can Take to Avoid Them.



6.
OTHER STUFF

In the aftermath of the US election, I was listening to a podcast that was discussing exit poll findings, and the demographics that led to Donald Trump’s election.  Without doubt, Trump’s support was strengthened by his promise to “bring back jobs”.

However, what has been at the forefront of my mind is this: how much influence does a President really have in creating jobs at scale, particularly in manufacturing.

I came across this article that summed up my thinking, from popular market analyst site The Fat Pitch: Technology, Not Trade or Regulations, Killed Manufacturing Jobs.

I’m wary of jumping into politics here, so I’ll just say that it will be interesting to see how we are going to replace lost jobs through technological innovation vs. protectionist policies. Bringing this back to procurement – I believe that how we do this within our own profession – and how we help other functions do the same – is going to be key to our future.

On that note….

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.