Brian Bancroft, the Vice President of Direct Procurement for The Coca-Cola Company recently joined me on the Art of Procurement for an episode that flew off the shelves, breaking all kinds of AOP records.
Brian recently led a session at the Marcus Evans CPO Leadership Summit in Atlanta, where he shared a number of considerations that procurement leaders should be taking into account as they plan on adjusting to a number of emerging issues across the supply chain.
This week’s “must read” comes from another AOP alumni, Rob Handfield of NC State University. Rob shares his key takeaway’s from Brian’s session:
10 Things to Consider in the Global Economy | Rob Handfield, NC State University
OTHER INTERESTING ARTICLES
Four pillars for accelerated profit growth | Jon Kirby, Genpact
Is An RFP Always Your Best Option? | Michael Croasdale, Source One Management Services
Supplier Conditioning As A Part Of Negotiation | Allison Ford-Langstaff, Future Purchasing
Bad Procurement: A Roundup of Recent Procurement Scandals | Sydney Lazarus, Spend Matters
Looking Past KPIs – The Case for Contract Design Flexibility | Margaret Gilbert, Corporate Contracts Management
Beyond Speculation: How to Handle the Increasing Type & Frequency of Supply Chain Events | Hannah Fliesler, Resilinc
PROCUREMENT & SERVICE PROVIDER NEWS
Gerry Walsh takes over as CIPS interim CEO | Will Green, CIPS
The Story Behind the Numbers: The March 2017 ISM-New York Report on Business | Kelly Barner, Buyers Meeting Point
@ THE ART OF PROCUREMENT
This week, I wanted to share an article that touches on a subject I think about a lot in the context of procurement – does the future belong to specialists or generalists?
Who Will Dominate the Future of Work? Specialists or Generalists? | Jacob Morgan, Inc
Here are my two cents:
The riches are in the niches.
I spent the majority of my career focusing on being a well rounded generalist. As I progressed, I came to believe that only a certain type of generalist will succeed in the new world of procurement work – one that focuses on building deep relationships, solving business challenges (not procurement challenges), and one that has the ability to program manage solutions from a complex array of service providers and internal resources in a way that appears seamless to your stakeholders.
To be a successful generalist, you will need to have an ability to transcend procurement thinking, and traditional procurement activities.
For specialists, I believe that those who will succeed the most have that specialization, but have experience from a range of different perspectives. For example, if you are a specialist in a particular category, take an opportunity to work for a service provider in that field and understand what makes those firms tick. If you have that, then I really believe that the platform economy will open up a whole world of opportunity, and enable you to price your services based on the value you create rather than the number of hours that you work.
Let me know your thoughts…!