This Week in Procurement

This Week in Procurement: The New Reality of Supply Chain Ecosystems

Written by Philip Ideson

1.
MUST READ

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


2.
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

If agencies want procurement to work for them, they need to give clients full disclosure | Tina Fegent

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


3.
PROCUREMENT & SERVICE PROVIDER NEWS

Gerry Walsh takes over as CIPS interim CEO | Will Green, CIPS

Future of Emptoris Within IBM Unclear Due to Recent Departures, Other Uncertainties | Spend Matters

The Story Behind the Numbers: The March 2017 ISM-New York Report on Business | Kelly Barner, Buyers Meeting Point


4.
@ THE ART OF PROCUREMENT

Podcast: Demystifying Blockchain & It’s Impact on Procurement, w/ Jack Shaw


5.
OTHER STUFF

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…!

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.