I was fortunate to the be in the audience recently to listen to today’s guest, Dr Robert Handfield, give a talk on the future of procurement analytics, and the impact that access to real-time and predictive analytics will have on the procurement function. I was delighted when Rob agreed to share his thoughts with me on the Art of Procurement.
Rob talks passionately about how procurement is at in inflection point – where our ability to deliver value by using old tools such as leveraging spend is coming to an end. Rob believes that analytics will be the fuel that propels both the relevancy and maturity of procurement to the next level.
“Using data and analytics to make your point, and to support your recommendations, is key. I think that is something that procurement has not done a very good job of in the past. We stand on our high horse, and pound our fists on the table. But until we have actual data and analysis to support our points, we are not going to get very far.”
In this episode, you will learn:
- The importance of pizza in attracting students to the Supply Chain area of study!
- How the NC State Supply Chain curriculum has evolved to reflect the changing nature of the skills necessary to be successful in procurement.
- What is predictive analytics?
- The concept of Innovative Data Leveraging
- 5 predictions on the impact that predictive analytics will have on the future of procurement
- What procurement leaders should be thinking about as they consider building greater data and analytic capabilities.
Links and Resources:
- Subscribe to The Art of Procurement
- Robert Handfield on LinkedIn.
- Supply Chain Resource Cooperative
- The Procurement Value Proposition, by Robert Handfield and Gerard Chick.
Thanks for Listening!