All posts by Procurious HQ

Rio Tinto CPO: How To Fail Forward In Procurement

“No one is an Olympic caliber downhill skier from the outset!” Ramsay Chu, CPO Rio Tinto. That’s why procurement pros have to learn to Fail Forward! 

Career Boot Camp 2017 launches on 4th September, featuring podcasts  with 5 global CPOs. Sign up here (It’s FREE!)  

What better way to advance your procurement career than gaining inside information from the very best in the business.

If you only knew your CPO’s top priorities, what they’re looking for in new hires or how they see the procurement function evolving, you’d be perfectly placed to dazzle them with your foresight and intuition. Sound appealing, if not a little far fetched?

It shouldn’t do because Career Boot Camp 2017 launches today and promises to deliver with insights into all of the above.

Five days, five CPOs, five fifteen-minute podcasts to help you upgrade your procurement career. 

Featuring tips and guidance from the best in the business, each of our  CPOs will dedicate their week to coaching you on becoming the best procurement leader you can be!

There are a hundred and one reasons to tune in each day this week week but Rio Tinto CPO Ramsay Chu’s podcast is as good as any.

Need a little convinving before you sign up? Check out our teaser trailer below to hear what Ramsay had to say in reponse to our quick-fire questions.

Why Should Procurement Pros Fail-Forward?

As a CPO, it’s crucial to foster an entrepreneurial spirit within your procurement team, no matter how large the organisation. Ramsay explained to us that this happens when businesses create a safe environment for their employees to be creative.

” While that seems really abstract, I think a much simpler way to do it would be to create an environment where we can allow team members the emotional safety to speak up, develop the courage to share an idea that may not be part of the norm, and, more importantly, allow them to feel comfortable to fail.

“Trying and failing is really at the core of entrepreneurship.

“We think about some of the most transformative evolutions that any of us have personally experienced in our professional or personal careers. I can tell you that it’s almost always fraught with a history of failure and that failure is at the core of developing the entrepreneurial spirit.

“To use a more personal ideology, I think it would be very much akin to skiing. The best skiers have fallen many times. No one is an Olympic caliber downhill skier from the outset. It’s not a natural or innate talent that anyone’s born with. They get better by learning, pushing themselves to the limits, oftentimes falling, picking themselves up, and moving on.

“I think the fear of failure oftentimes casts a very long shadow, and potentially impairs our ability to really think big.”

Tech skills? Pfft! We can teach that stuff!

We were also eager to pick Ramsay’s brains on the procurement talent Rio Tinto is snapping up.  As the procurement function evolves, new skillsets are required.

Ramsay acknowledged that skillsets have historically been centered around supply chain, finance, operations or engineering, all, as he describes them “technical dicisplines.”

“What we’re trying to do [at Rio Tinto]  is find people that absolutely have what I would consider more specific experience in some of the more intellectual or emotional disciplines, in the form of either liberal arts or communications. Ultimately, it’s the ability to solve problems that I think will help and drive transformation within a company. It all comes down to having the capability to engage, to understand, collaborate, more importantly, to influence.

“We’ve had some great success with people that are creative writers, a couple of people with philosophy majors, and even a couple of communications experts. We have to be focused now on behaviors, and ultimately we can teach them those technical skills. It’s very likely and possible that we can take a philosophy major and teach them supply chain. It sometimes is harder to teach somebody that’s been rooted in the engineering discipline to think differently, so to speak, or create a different behavior.”

Listen to Ramsay’s full podcast when you sign up to Procurious. Career Boot Camp 2017 launches on 4th September, featuring podcasts with 5 global CPOs. Sign up here (It’s FREE!) 

Already a member of Procurious? You’re automatically enrolled for Career Boot Camp! Click here to listen to Ramsay’s podcast in full.

5 Global CPOs Answer Your Top 5 Procurement Questions

How did the CPOs at Barclays, Vodafone, The Co-operative group, AstraZeneca and Rio Tinto fare when we put them to the test in a round of quick-fire questions?

Career Boot Camp 2017 launches on 4th September, featuring podcasts  with 5 global CPOs. Sign up here (It’s FREE!)

Wouldn’t you like to know how the best in the business feel about the value in professional certifications? Or maybe you’re keen to hear their take on the biggest mistakes made by procurement pros?

There’s just one week to go until we launch Career Boot Camp 2017, sponsored by Michael Page Procurement and Supply Chain and we can’t wait for you to hear all five podcasts!

Featuring tips, insights and guidance from the best in the business, each of our five  CPOs will dedicate next week to coaching you on becoming the best procurement leader you can be!

Can’t wait that long? We thought we’d give you an exclusive sneak peak of what’s to come. 

We put each of our five speakers to the test with a round of quick-fire questions. Listen below to hear what they each had to say on the value of formal procurement certifications, the biggest mistakes procurement pros make and how to stand out from the crowd!

Day One: Ramsay Chu CPO Rio Tinto

There’s no question that Rio Tinto’s Ramsay Chu is passionate about procurement. He’s watched the profession evolve from a function that simply “saves money” to one that can transform and have a “scale impact” on the business: touching every employee in the organisation.

In his Career Boot Camp podcast Ramsay discloses what new skills he’s looking for in his hires and explains why technical skills are often of lesser importance.

And, if you’ve ever felt like a failure in your procurement career, Ramsay has some important words of comfort. Find out why failure is at the core of entrepreneurial spirit and how you can turn it to your advantage by “failing forward.” As he puts it “No one is an Olympic caliber downhill skier from the outset!”

Day Two: Ninian Wilson Global Supply Chain Director & CEO Vodafone Procurement

Vodafone CPO, Ninian Wilson, is a man with a lot on his plate. He manages a colossal spend of €22bn and oversees 1100 employees. But that’s not stopped his determination to innovate with new companies, new products and new services.

In his Career Boot Camp podcast Ninian explains why he strives so hard to foster this culture of innovation at Vodafone.

And if you’re wondering what Ninian is searching for in his new hires, it’s the “data rockstars!”

Ninian Wilson’s podcast will be available on Procurious from 5th September.

Day Three: Dapo Ajayi CPO AstraZeneca

It’s not a bad thing to forever shoot for the stars when it comes to innovating with your suppliers. But don’t be underestimating those smaller successes and achievements!

Dapo Ajayi is keen to remind procurement pros that the smaller ideas and innovations carry a lot of weight; building trust, improving collaboration and creating opportunities for greater change further down the line.

She also discusses what business acumen means to her in the context of procurement, how to better align procurement with business stakeholders and offers guidance on how to become a CPO

Dapo Ajayi’s podcast will be available on Procurious from 6th September.

Day Four: Fabienne Lesbros CPO Co-operative Group

Rigid processes can inhibit procurement’s ability to advance efficiently but there are ways to prevent them from getting in your way. Fabienne Lesbros has some welcome advice on the subject as she advises that procurement pros present the cake, rather than describe the recipe!

She also describes her vision for the future of procurement, the importance of continuous development and why we must resist using procurement jargon!

And, if you’ve ever assumed that today’s CPO’s followed a clear and well-crafted career plan, think again! Fabienne explains how her ascent to the top went a little differently!

Fabiene Lesbros’ podcast will be available on Procurious from 7th September.

Day Five: Al Williams Managing Director & CPO, Barclays

What are today’s CPOs looking out for in the high performing procurement leaders of tomorrow? For Barclays CPO, Al Williams, it’s all about embracing change. But he isn’t just looking for procurement pros that are simply able to tolerate, or adapt to, big changes. If you’re in the driver’s seat, you’ve got to take the wheel and drive the agenda!

Al also discusses how procurement can generate value, how the function should be positioned within an organisation and how he encourages his hires to think about positive change.

And, if you’re in the market for some new shining stars, find out what you can do to make procurement a preferred and enticing destination for the next generation of professionals!

Al Williams’ podcast will be available on Procurious from 8th September.

Career Boot Camp 2017 launches on 4th September, featuring podcasts  with 5 global CPOs. Sign up here (It’s FREE!)

Aaaaaall aboooooard for the Chicago Big Ideas Summit!

Today marks exactly one month until the Big Ideas Summit in Chicago!  NOW is the time to sign up as a Digital Delegate and access globe-beating content from the procurement capital of the world.  

If you’re interested in getting involved but still not entirely sure what’s going on, look no further – we’ve compiled a list of our most frequently asked questions to get you fully up to speed!

What is it?

The Big Ideas Summit is a unique online event uniting procurement and supply chain professionals from around the globe to drive innovation and inspire change. At the Big Ideas Summit in Chicago we’ll be driving the conversation on the following topics:

  • Rethinking what’s possible in procurement
  • Building Workforce 4.0
  • Leadership under fire, and
  • Procurement in the digital age

Speakers include Futurist and Urbanist Greg Lindsay, Former Navy Seal Andy Stumpf, ISM CEO Tom Derry, Pinnacle Group CEO Nina Vaca, BBC Broadcaster Nik Gowing, and American Blockchain Council Executive Director, Jack Shaw.

When is it?

After the stunning success of the 3rd annual Big Ideas Summit in London, we’re continuing our global tour in Chicago on 28 September 2017. Expect to see most of the action between 09.00 – 17.00 (CDT) as we share video insights, quotes, photos and summary articles direct from Chicago.

If you can’t join the action live, not to worry.  The thought-provoking discussions and debate will continue long after, and we’ll be sharing video footage of all our Influencers Big Ideas throughout September on Procurious.

Where is it?

Although our Top Influencers will be meeting in at the Wit Hotel in Chicago, due to the summit’s digital nature Procurious members across the world can get involved from the comfort of their office, armchair or even from the beach!

Procurious members can also use our iOS App to follow the action. It’s available in the Apple iTunes store and is free to download.

 How can I join in?

You’ll need to be a registered member of Procurious – join here for free if you haven’t already. Then simply join the group to access thoughtful opinions, participate in insightful discussion, connect with our Influencers, access exclusive podcasts and interviews and share your own Big Ideas with the Procurious community.

We’ll also be live tweeting throughout the day, so make sure you’re following @procurious_ to share and respond to our tweets using the hashtag #bigideas2017.

Do I have to be a member of Procurious?

Yes. Participation as a Digital Delegate is free and open to all members of Procurious. By joining Procurious, you will not only have access to all the exclusive Big Ideas Summit content, but you will join a community of 23,000 like-minded procurement peers and gain access to all Procurious’ free resources, including being able to:

  • Upskill on the move with dozens of eLearning modules
  • Get your procurement questions answered by experts
  • Find out about relevant professional events around the globe
  • Become a digital delegate in the global think-tank, Big Ideas Summit 2017

Will Big Ideas be live-streamed?

Procurious boasts a global audience of 23,000+ procurement professionals, from more than 140 countries. If we were to cater to all of these time zones, it would be a tough job – so rather than live-streaming (and keeping you awake at awkward hours), we’ll share exclusive video and podcast interviews with Digital Delegates.

 I’m on the fence – why should I take part?

Here are five compelling reasons to join your fellow Procurians and stake your claim to the wealth of knowledge on offer:

  • An audience with 50 of the world’s top procurement influencers
  • Get your questions answered by world-class experts
  • Make powerful new contacts around the globe
  • Share your own Big Idea and make your voice heard
  • Access exclusive content & learnings

Who are the ‘Top Influencers’?

The term ‘influencers’ refers to the face-to-face delegates who will gather in Chicago. Our experts span the worlds of procurement, technology, social media, journalism, social media, economics and academia.

 Who are the sponsors?

The Chicago Big Ideas Summit is made possible by our partners IBM, Proxima, and Basware.

 I’ve got a Big Idea of my own…

Great to hear! You can Tweet us your Big Ideas @procurious_ remembering to use the hashtag #BigIdeas2017.

Leave your Big Idea on Facebook – you can find us at www.facebook.com/procurious .

And of course you can tell the Procurious community all about it by joining the Big Ideas Group page and posting it to the community feed.

Who is behind Procurious?

You can read all about us in Our Story.

Join the conversation and register as a digital delegate for Big Ideas 2017 in Chicago.

Negotiation Skills? Going Once, Going Twice…Gone!

Does the rise of eAuctions mean the professions’ hard-won negotiation skills are now irrelevant? 

On Procurious, we’re keeping a close eye on the rise of procurement-related technology and what it means for roles and skill-sets across the profession. One such technology – the eAuction – has proven itself to be a highly efficient way of conducting a sourcing event and driving prices down. But does the advent of eAuctions mean that procurement professionals’ negotiation skills are no longer required?

This was one of the topics discussed at a Negotiation Roundtable organised by CABL (Conti Advanced Business Learning) and facilitated by its Founder, Giuseppe Conti.

Keep your options open

Thierry Blomet, Kemira’s Senior VP of Global Sourcing, told the roundtable that in his experience, the contract cannot always be awarded immediately after the eAuction. “We had an eAuction where it became clear that there were so many moving parts and questions that could not be answered during the event itself. We realised there’d be the need for additional discussion, so we used the outcome of the eAuction to narrow the bidders down to a small group of preferred suppliers, and continued the conversation from there.”

In other words, if you want to keep your options open, it’s important to communicate to suppliers that you may make the decision not to award at the conclusion of the eAuction. Instead, you may move the leading suppliers to a next-step status.

The nature of the eAuction itself presets your ability to negotiate during the event. There’s a bewildering array of eAuction formats – Dutch, Japanese, Brazilian, English to name a few – so it’s important to do your research. Blomet comments, “If you try to condense the event to 30 minutes, for example, you leave very little room to negotiate. A longer event leaves more room for something to happen and for you to react accordingly.”

Play fair

Francesco Lucchetta, Director of Strategic Supply at Pentair, says the ability to play with the visibility of quotes – so participants in the same eAuction can see each other’s bids – can be very helpful in encouraging competition. He warns, though, that the contract should have been established and its terms accepted by the bidders well before the eAuction takes place. “Make sure your suppliers have accepted your contractual terms, so no more discussions need to happen once the award is in place.”

Blomet notes that there are a lot of ethical aspects that need to be clearly communicated and understood before an eAuction. “You need to be able to define any red lines, and make sure participating suppliers understand. During the eAuction, ethical breaches could include inviting a fake vendor, or having a hidden way of scoring. It’s a matter of credibility.”

Tamara Taubert, Procter and Gamble’s Global Capability Purchasing Leader, comments that purchasing teams always need to behave in ways that are consistent with their values, and this includes running an eAuction. “Think about how you will behave as a company during the event. If the information about the event became public in 5, 10 or 20 years from now, would you be comfortable with that? You need to guarantee fair and ethical treatment of all participants.”

In fact, unethical behaviour by some corporations using eAuctions means that many suppliers are uncomfortable with the concept. Blomet notes that some large corporations have established that they do not participate in reverse auctions as a rule. “There have been a lot of issues in the past caused by poor communication, poor management, unethical behaviour, or suppliers simply being uncomfortable with the technology.”

This suggests there’s work to be done to improve the reputation of ethically-driven eAuctions.

Interested in attending a CABL Negotiation workshop? Click here  to find out more. The founder, Giuseppe Conti, has over 20 years of Procurement experience with leading multinationals and over 10 years of negotiation teaching experience at leading Business Schools (including Oxford, HEC Paris, IMD and ESADE).

Upgrade: Be Tomorrow’s CPO, Today

Five days. Five influential CPOs. Are you ready to upgrade your career  at Career Boot Camp 2017?

Sign up to Procurious to access Career Boot Camp from 4th September. 

Do you dream of becoming the CPO of a top organisation somewhere in the distant future?

Are you putting in the hours today to make sure you’re prepared for tomorrow?

Procurement leaders of the future will need to be agile, focused and equipped to deal with all of the changes coming our way with the developments in cognitive technology and Workplace 4.0.

That’s where Career Boot Camp comes in. Our podcast series will help you to transform your career and your future. But only if you’re ready and willing to upgrade!

Five days. Five CPOs. Five fifteen-minute procurement podcasts – tomorrow can’t wait!

What Is Career Boot Camp? 

The Procurious Career Boot Camp, sponsored by Michael Page Procurement and Supply Chain, is a global professional development event for procurement and supply chain professionals. This series, featuring five, fifteen-minute podcasts, will be hosted right here on Procurious and has been designed to help the most ambitious professionals amongst you to upgrade your skill-set.

It’s an opportunity to hear from the brightest and the best in the industry in a format that is FREE and easily accessible; on the go or in the workplace, providing answers to the most common procurement questions you’re desperate to have answered!

20,000 procurement pros took part in Career Boot Camp in 2016. This year will be bigger and better!

Who’s involved in this year’s Career Boot Camp?

Explaining how to crank it up one notch at a time, why you need to lock up your data scientists and the art of failing forward, our career coaches in 2017 include:

  • Ramsay Chu, CPO Rio Tinto
  • Ninian Wilson, Global Supply Chain Director & CEO Vodafone Procurement
  • Fabienne Lesbros, CPO The Co-operative Group
  • Dapo Ajayi, CPO AstraZeneca
  • Matthew Friend, Associate Director, Michael Page Procurement and Supply Chain
  • Al Williams, Managing Director and CPO Barclays

How does it work?

The series will run for one working week with a daily podcast released on Procurious from 4th September.  You can access each new podcast, featuring tips, insights and guidance from the best in the business, via our eLearning area.

Each of our five CPOs will dedicate their week to coaching you on becoming the best procurement leader you can be! Matthew Friend, Associate Director, Michael Page Procurement and Supply Chain, will be providing his top takeaways at the end of each podcast.

Each daily podcast will also be accompanied by a blog article from our speakers and there will be vibrant group debates aplenty via our dicussions board.

How do I access Career Boot Camp?

If you’re already a member of Procurious sit tight until the 4th September. The podcasts will be  published in our eLearning area throughout this week.

Not yet a member of Procurious? All you need to do is register (it’s FREE!) here and you’re good to go!

You needn’t worry about the event slipping your mind either. We’ll be sending all of our members an email reminder the week before.

And, to make things even easier, we’ll be sure to deliver each podcast straight to your doorstep (straight to your email inbox!) as they become available so you won’t miss out on a thing!

When is it?

Starting on the 4th September, Career Boot Camp will run for five days. The podcasts will be accompanied by daily blogs from our speakers. When the series is complete, all five podcasts will still be available via the Procurious learning area, FREE of charge.

Is it really free?

Yes! Sign up to become a member of Procurious, and you’ll gain access to all of the Career Boot Camp podcast content, as well as all of the other resources on Procurious including featured classes, e-learning videos, thousands of procurement news articles, a curated news feed and a global events calendar.

Are the podcasts available to everyone?

Anyone and everyone is welcome to partake in Career Boot Camp and it’s totally, 100 per cent free to do so- simply sign up to Procurious.

Why should I do Career Boot Camp every day?

More and more procurement professionals are opting to develop their key skills and gain knowledge through eLearning and other online channels. In a fast-paced, technology driven world, innovation, agility and forward planning are essential if procurement professionals are to succeed and be future leaders.

Dedicating fifteen minutes a day to developing and progressing your procurement career can make the difference between standing still, or moving quickly into more impactful roles. Hearing from the best in the business will give you a valuable head start on what’s required of tomorrow’s CPO. At Procurious, we firmly believe that daily procurement learning is essential for career advancement. And 2017’s Career Boot Camp will help you get into the habit!

Sign up to Procurious to access Career Boot Camp from 4th September. 

If you’re already a member you’ll be able to access the podcasts in our learning area from the 4th September 2017. 

Is the era of the fence-sitting corporation over?

Corporate CEOs have historically remained silent on politically divisive issues to avoid a potential backlash from consumers and their own employees. Last week, this rule was turned on its head.

Three high-profile advisory councils were disbanded by U.S. President Donald Trump last week after a cascade of CEO resignations over his response to the Charlottesville “Unite the Right” rally.

Mr Trump dissolved the American Manufacturing Council and the Strategic and Policy Forum after it was leaked that the remaining members of the two councils were planning a press announcement on Wednesday 16th August about disbanding the groups. High-profile resignations up to that point included Kenneth Frazier (Merck CEO), Under Armour CEO Kevin Plank, Intel Chief Executive Brian Krzanich, ADL-CIO’s Richard Trumka and Thea Lee, the Alliance for American Manufacturing president Scott Paul, Campbell Soup’s Denise Morrison and 3M’s Inge Thulin.

A similar revolt in the President’s Committee on the Arts and Humanities took place two days later, with 16 out of the 17 members quitting, leading to the White House stating that the committee’s executive order would not be renewed.

Is the line between politics and business dissolving?

Michael Maslansky, the head of a language strategy firm that advises major companies, told the BBC last week that “the era of the fence-sitting corporation is over”.

In an unprecedented situation, the moral compass has now been placed in the hands of business leaders, who are coming under increasing pressure to comment on political events. Donald Trump’s tweet about “pressure on the businesspeople of the [councils]” gets this absolutely correct.

Many of the CEOs who resigned from the advisory councils made statements along the lines of having “no choice” about the matter. In other words, Trump’s response to Charlottesville put them in a situation where their connection with the president contradicted their company’s corporate positions on race, diversity and equality.

Even CEOs without a formal position on an advisory board, including Apple’s Tim Cook, spoke out in condemnation last week. In the past, it was seen as safer to remain silent, or risk the wrath of customers (and employees) from the other side of the political spectrum.

Why is this happening? “If you’re silent about an issue, then each side will assume you’re on the wrong side. You end up really having to choose”, says Maslansky. Another sentiment that was frequently expressed after Charlottesville was the idea that silence in the face of injustice (including racism) is tantamount to complicity.

Ideally, every company would have a Values Statement which would dictate the CEO’s response to any relevant issue. This means the “choice” doesn’t come down to the personal whim or leaning of any individual business leader.

Where will this end? With political divisions only increasing, will we see consumers do business only with companies that reflect their political views? This is already happening on the fringes, with regular calls going out from both sides to boycott various companies (think #DeleteUber, or #AnywherebutTarget). Terms for this include “dollar voting”, “ethical consumerism” and “moral boycotting”.

For procurement and supply managers, daily buying decisions could become so fraught with larger implications that it will become hard to keep track. But if the end customer expects organisations to make purchasing decisions that are in line with their own values, this is certainly a space to watch.

As for CEOs, the era of carefully-worded, politically-neutral statements may be over. When a new CEO steps into a role, their customers, their employees and the Board will want to know where they stand politically and how this will influence the corporate culture.

To quote a meme that’s currently doing the rounds on social media: sitting on the fence only gets you one thing: splinters.

The vanishing line between business and politics will be one of the topics under discussion at the Chicago Big Ideas Summit on Thursday 28th September. If you’re a CPO and located in or near the Chicago area, there are still some seats available (limited to 50 attendees). If you’re not quite CPO-level (yet) or based on the other side of the globe, don’t worry – we’ve got you covered. Simply register for free as a digital delegate on Procurious, and we’ll bring all the Big Ideas from Chicago to you! Click here to find out more.


 In other news this week:

Australia to develop anti-slavery legislation

  • Australia’s Turnbull government will soon require companies with an annual turnover of at least $100 million to publish “Modern Slavery Statements” on a publicly accessible central repository.
  • The statements will include measures companies are taking in their supply chains to combat modern slavery, including human trafficking, debt bondage and forced labour.
  • The government is also considering drafting a Modern Slavery Act and an independent anti-slavery watchdog to investigate complaints and educate businesses.

Read more in The Age.

 The City of Los Angeles is looking for a CPO

  • The city of LA is seeking a CPO to fill a newly-created position created as part of a wider local government remodelling.
  • The new CPO “will be responsible for the development of a plan to strategically leverage the city’s spend, identify cost savings, employ long-range operational policies and procedures that align with industry best practices, increase transparency, and reduce time to contract with the city”.

Read more at Supply Chain Digital.

Big Ideas From The Procurement Capital of the World

Procurious’ flagship event, the Big Ideas Summit, is landing in Chicago in September – and we want YOU to be involved!

The Big Ideas Summit is landing in the Windy City, and this is your chance to be a part of it! If you can’t join us in Chicago in person on Thursday 28th September (seating is strictly limited to 50 CPO-level attendees), don’t worry – now’s your chance to register as a Digital Delegate!

Why Chicago?

From McDonald’s to Walgreens, Boeing to Motorola, Greater Chicago is home to dozens of Fortune 500 brands. Because it’s the third-largest economy in the U.S., it’s no surprise that it’s also a major hub from American procurement activity. Chicago has more purchasing professionals than most American regions, and has proven to be a magnet for innovative CPOs.

That’s why we’ve chosen Chicago as the first U.S. location for our digitally led procurement think-tank, the Big Ideas Summit! After three successful years in London, the Summit is an interactive, online event where up to 50 senior executives, industry thought-leaders and CPOs come together to connect with digital delegates from across the globe via our social media platform to discuss and test strategies and solutions for real world change.

What’s on the agenda?

Big Ideas Chicago will debate the latest, game-changing issues: global economic and geopolitical shocks, Industry 4.0, harnessing innovation and cognitive technology.

“We are bringing together the top 1%, who are on the leading edge of the profession. We want to crowd-source ideas and push procurement and supply management from the past and into the future,” says Procurious Founder, Tania Seary.

Big Ideas Chicago will feature keynote presentations from:

  • Urbanist, futurist and Author Greg Lindsay will uncover why innovation today is fundamentally social and often the result of engineered serendipity.
  • ISM® CEO Tom Derry, will talk through the five traits you need to be a truly agile and forward-thinking digital CPO.
  • Sibylline CEO Justin Crump will build the case for procurement teams to transform into crack intelligence gatherers.
  • Former Navy SEAL Andy Stumpf will provide strategies for making complex decisions under great pressure and without a full data-set.
  • Basware Vice President Purchase-to-Pay Eric Wilson will discuss why data is the alpha and omega of Artificial Intelligence.

To quote Uncle Sam…

We want YOU! If you’re a CPO or equivalent and within hailing distance of Chicago, be sure to secure one of the 50 seats available at The Wit Hotel on Thursday 28th September by registering here.

If you’re not quite CPO-level (yet) or based on the other side of the globe, don’t worry – we’ve got you covered. Simply register for free as a digital delegate on Procurious, and we’ll bring all the Big Ideas from Chicago to you!

As a digital delegate, you’ll be able to access all of the content for free, and at your leisure; whether it’s from your desk, on the go, or in at home with a glass of wine.

By registering as a Digital Delegate, you can …

  • Gain access to insightful discussions via our Big Ideas Summit Chicago group
  • Connect with our influencers and ask questions live on the day of the events
  • Share big ideas for procurement with the Procurious community
  • Follow the day’s events live via our social media channels
  • Access video content from our speakers and attendees on-demand, after the event.

So, what are you waiting for? Register now free of charge as a digital delegate for Big Ideas Chicago!

Please Fire Me: I Just Can’t Quit!

Stuck in a miserable, but well-paid, job you can’t afford to quit? Don’t get yourself into that position in the first place!

Philip H. “hates his life”. Those are his exact words. Specifically, he hates his all-consuming job. The work bores him and he no longer believes in his firm’s mission. The gruelling hours he puts in cost him time with his family that he can never recover.

Here’s the kicker: Phillip earns several million dollars a year heading a major office of a top-tier advisory firm. So, you might ask, why doesn’t he quit?

He’s says he can’t afford to.

There’s a big mortgage on a luxury apartment, and another on the beautiful beach house he and his wife bought two years ago. (“The summer weekends we spend there are the only thing that keep me sane,” he says.) Then there are the three kids—all enrolled at a private school. The eldest will start college in a year; the others will follow soon. Tallying up his obligations, Philip envies his Wall Street friends who earn ten times as much as he does.

A couple of days ago I mentioned this story to a well-known financial columnist. “I hear this all the time,” he said. “Lots of people moan about how miserable they are at work but they can’t see a way out.”

“Boo, hoo,” you might say. “I’d trade places with Philip in a heartbeat.” But would a huge income really make up for feeling horrible about your life?

You might think that you could put up with a few years of misery for the freedom it would buy you. You’d put a lot of money in the bank, and then walk away to do whatever you like: launch a small company, or spend the rest of your days lolling on the beach. Maybe you’d devote the rest of your life to doing good in the world. Whatever your goal, you’d collect your last paycheck and say, “Adios.”

It’s not that easy, though. You wouldn’t make a bundle starting out. You’d have to put in your time first. And when serious money began to come in, it would be tempting to reward yourself creature comforts for all the stresses you endure. The higher you climb the ladder, the harder it will be to leave. Then one day you’d turn around and find yourself in Philip’s unhappy shoes.

It might seem that I’m writing about a problem that affects only a small set of people. But I think Philip’s case illustrates issues that apply wherever you are now in the organisational hierarchy, and whether you love your job or loathe it.

Most work choices aren’t either/or

It’s late in the game for Philip, but assuming a different role in his firm might be rejuvenating. Going on sabbatical might set a great example for other colleagues. By framing his decision as stay-or-go, he’s missing other opportunities.

If you’re unhappy at the office, other people know it

Philip’s negativity must come out sideways. If he hates his own job, how can he be enthusiastic when a colleague lobbies for a new project? A big part of his job is evaluating other people’s performance. His attitude is bound to warp his judgement. (I also worry about what he’s like at home.)

Toughing things out is not a career plan

Somehow Philip drags himself to work every day. Maybe he takes pride in his perseverance. As they say, however, “persisting in the same behavior expecting different results is the definition of insanity.” The way things are headed, he risks getting pushed out by his peers. Maybe that’s his subconscious agenda, but it would be an ugly way to go.

Plan your end game

When you take on a job, set a date when it will be time to move on to something else. You can always revise it one way or another, but it’s usually better to leave a year early than a year too late.

The most important lesson of Philip’s story is not getting into his situation in the first place. If Philip had kept these precepts in mind, he would have been alert to his growing feelings of frustration. At an earlier point, a lateral move to another firm or an entirely different field might have been easier. And if he had allowed for the possibility that the job might get stale, he might not have saddled himself with so much debt. But by the time he realised he was on a treadmill, he had gone so far he felt he couldn’t step off.

Sunk cost traps aren’t just financial. They can also be social, emotional, and deeply personal. Philip may have trapped himself with worries about what others will think about his walking away from what most regard as a dream job. I’d remind him of Samuel Johnson’s advice – that we’d worry less about what others think of us if we realised how seldom they do.

In the end, Philip’s self-respect is what counts. Walking away might feel as if he’s repudiating how he’s spent his recent years. But to me, belatedly changing an unhappy life sounds a lot better than doubling down.

This article was written by Professor Michael Wheeler and was orginally published on LinkedIn.

Professor Michael Wheeler’s Negotiation Mastery course on Harvard Business School’s HBX launched earlier this year. Applications for the next wave of students, starting in September, are now being accepted. Version 1.4 of his Negotiation 360 self-assessment/best practice app is available for both Apple and Android devices. It includes coaching videos and a tactics exercise.

Want to win a XK-X300 Quadcopter Drone? Take our survey!

With world-class talent and unlimited potential, a career in procurement can be brilliant … but you’ll need a plan to make it happen. That’s why we’ve launched our “My (Brilliant) Procurement Career” survey to understand how YOU will manage your own career into the future. 

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  • In what ways are our peers across the globe seizing control of their own career management?
  • Do procurement professionals expect the profession to thrive, or to disappear by 2030?
  • Is crowdsourcing answers on social media an effective way to get the solution you need?
  • Do individuals in procurement feel isolated, or well-connected with the wider profession?

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Attention All Employees: Report For Microchipping

Does the idea of a corporate microchip implanted into your body make you squirm, or are you fascinated by the possibilities?  

“Hold your breath – one … two … [stab].”

A Wisconsin-based marketing company (Three Square Market) recently hired a piercing professional to inject microchips into 50 of its staff. The radio-frequency identification (RFID) chips are encased in glass capsules about the size of a large grain of rice. They were injected into the fleshy part of participants’ hands, between the forefinger and thumb.

Sounds like something from a corporate dystopia, doesn’t it? Don’t worry, all of the microchipped individuals were entirely voluntary – along with a handful of journalists who were eager to see what it was like.

What can the microchips do?

At present, not much. It’s entirely internal to Three Square Market’s office, where microchipped staff can wave their hand to open doors, unlock computers and pay for items in the kiosk, provided the systems have the software installed and a contactless chip reader.

But in the future, the possibilities of human microchips are only limited by the scale of the technology’s implementation. Scannable items such as passports, drivers’ licenses and credit cards would no longer be necessary. Car keys could become a thing of the past, and of course home automation systems would be operable with a wave of the hand.

There’s a good example of microchips in play in Sweden, where a company named BioHax has implanted nearly 3000 customers with chips that enable them to ride the national rail system without having the show the conductor a ticket.

For data analysts, the potential flood of information from microchip use within a company is alluring – data could be collected every time an employee makes a purchase, enters the building, or uses a photocopier.

Can microchipped people be tracked remotely?

Not yet. The microchips aren’t a GPS device, but are entirely passive until they come within a few centimetres of a compatible reader, just like a bank card. Pet owners familiar with the technology know that microchipped pets can’t be located remotely if they go missing – instead, owners must wait until their pets are handed into a vet with a chip scanner.

Will employee microchips one day be compulsory?

At Three Square, over 60% of the company volunteered to be microchipped. The remaining 40% had a range of reasons for demurring, including a dislike of needles, a fear of having foreign objects in their bodies, and privacy concerns.

The concern is that if this technology becomes mainstream, a refusal to allow your company to embed you may lead to losing out on a promotion, raise, or simply being seen as “not a team player”. Forward thinking legislators in Pennsylvania have already introduced a bill to outlaw mandatory chip embedding, with a spokesperson saying: “If the tech is out there, what’s to stop an employer from saying either you do this, or you can’t work here anymore?”

Another issue is that with an increasingly mobile workforce, a chip that only works within the walls of a single organisation would become useless once that person leaves. One day, perhaps you would simply have your chip deactivated upon your exit interview and re-calibrated by your next employer, but this isn’t yet the case. Of those 50 volunteers at Three Square Market, it’s likely that a handful will move on to other roles within the next few months, but what becomes of their chips? The company won’t be happy with non-employees being able to open doors with a wave of their hands, so will the chips be (painfully) removed? Perhaps they will simply be deactivated, meaning users are left with a useless piece of “abandonware” technology embedded in their hands.


In other procurement news this week:

Are emerging professionals being paid more than experienced hands in procurement?

  • Based on 3808 responses across the United States, ISM’s 2017 Salary Survey revealed that emerging professionals (with under 9 years’ experience) are earning nearly $5000 more per annum than experienced professionals (with 9+ years).
  • This suggests that organisations are having to offer higher salaries to attract new talent.
  • The survey also revealed the following average salaries: CPOs – $259,340, VPs – $135,757, Directors – $153,347, Managers – $109,401.

Coupa appoints new Chief Marketing Officer

  • Cloud-based spend management company, Coupa Software, has announced that digital marketing executive and veteran software industry marketer Chandar Pattabhiram has joined the company as its chief marketing officer (CMO).
  • Named one of five CMOs to follow this year by LinkedIn, Pattabhiram has more than 23 years of experience in both fast-paced and large technology companies including Marketo, IBM, Badgeville, Cast Iron Systems, Jamcracker, and Anderson Consulting (now Accenture).

Intel to build a fleet of self-driving cars

  • Intel announced last week that it will build 100 high-automated cars to test self-driving technology.
  • The project will showcase Intel’s $15 billion acquisition of Mobileye, which closed this week. Israel-based Mobileye makes technology that helps vehicles “see”; collecting, analysing and transmitting data about the outside world.