Category Archives: Big Ideas Summit

Big Ideas Summit 2016: Big Idea #7 – Disrupting Linear Thinking

Alex Kleiner says that procurement organisations need to throw off their linear thinking to increase flexibility and collaboration.

At the Big Ideas Summit 2016, we challenged our thought leaders to share their Big Ideas for the future of procurement.

From ideas that have the potential to change the very nature of the procurement profession, to ones that got the assembled minds thinking about the profession’s impact outside of the organisation, the response we received was amazing.

Alex Kleiner, General Manager, EMEA at Coupa Software, says that organisations as a whole need to throw off their linear thinking and increase flexibility and fluidity.

This transition will allow organisations to eliminate barriers to collaboration, but also enable procurement to focus more on alternatives to savings, such as usability, people, or even lives saved!

Catch up with all the thought leadership and ours delegates’ Big Ideas from the 2016 Summit at the Procurious Learning Hub.

If you want to find out more about Big Ideas 2016, and what we have planned for 2017, you can visit our dedicated website!

If you like this (and you haven’t done so already) join Procurious for free today, and connect with over 15,500 like-minded procurement professionals from across the world.

Big Ideas Summit 2016: Big Idea #6 – Strategic Brand Value

Tom Derry believes procurement needs to move away from a traditional cost focus, and create a more strategic brand value for the profession.

At the Big Ideas Summit 2016, we challenged our thought leaders to share their Big Ideas for the future of procurement.

From ideas that have the potential to change the very nature of the procurement profession, to ones that got the assembled minds thinking about the profession’s impact outside of the organisation, the response we received was amazing.

Tom Derry, CEO of the Institute of Supply Management (ISM), believes that it’s time for procurement to have a more strategic brand value, and transition away from a traditional focus on cost, to support the greater dimensions of value for organisations.

As CEOs are becoming more concerned about risk profiles (brand risk; risk of disruption), the brand of procurement is being enhanced by offering value in risk management and mitigation, as well as adding value and managing cost.

Catch up with all the thought leadership and ours delegates’ Big Ideas from the 2016 Summit at the Procurious Learning Hub.

If you want to find out more about Big Ideas 2016, and what we have planned for 2017, you can visit our dedicated website!

If you like this (and you haven’t done so already) join Procurious for free today, and connect with over 15,500 like-minded procurement professionals from across the world.

Big Ideas Summit 2016: Big Idea #5 – Eliminating Supplier Enablement

Gabe Perez believes that procurement needs to move towards real-time services, and eliminate traditional supplier enablement processes.

At the Big Ideas Summit 2016, we challenged our thought leaders to share their Big Ideas for the future of procurement.

From ideas that have the potential to change the very nature of the procurement profession, to ones that got the assembled minds thinking about the profession’s impact outside of the organisation, the response we received was amazing.

Gabe Perez, Vice President, Strategy & Market Development at Coupa Software, believes now is the time for procurement eliminate supplier enablement, and move towards the real-time services we have in our personal lives.

Gabe also believes that it’s now time for procurement, and the wider corporate world, to refocus their objectives to place value at the centre of all activities, as well as create and participate in open networks where collaboration can thrive.

Catch up with all the thought leadership and ours delegates’ Big Ideas from the 2016 Summit at the Procurious Learning Hub.

If you want to find out more about Big Ideas 2016, and what we have planned for 2017, you can visit our dedicated website!

If you like this (and you haven’t done so already) join Procurious for free today, and connect with over 15,500 like-minded procurement professionals from across the world.

Big Ideas Summit 2016: Big Idea #4 – Effective Technology Utilisation

Justin Sadler-Smith believes that procurement must improve its technology utilisation, or risk being left behind by the organisation.

At the Big Ideas Summit 2016, we challenged our thought leaders to share their Big Ideas for the future of procurement.

From ideas that have the potential to change the very nature of the procurement profession, to ones that got the assembled minds thinking about the profession’s impact outside of the organisation, the response we received was amazing.

Justin Sadler-Smith, Worldwide Sales Leader at IBM, believes that, in the past, procurement’s technology utilisation hasn’t been effective or efficient enough for the profession to access its full value.

Justin also believes that too many procurement professionals and leaders believe they still have time to build capability. However, many don’t realise that technology change, such as cognitive technology, is already upon them, and their technology utilisation needs to improve fast in order to keep pace in the marketplace.

Catch up with all the thought leadership and ours delegates’ Big Ideas from the 2016 Summit at the Procurious Learning Hub.

If you want to find out more about Big Ideas 2016, and what we have planned for 2017, you can visit our dedicated website!

If you like this (and you haven’t done so already) join Procurious for free today, and connect with over 15,500 like-minded procurement professionals from across the world.

Big Ideas Summit 2016: Big Idea #3 – Harnessing Cognitive Technology

Barry Ward says that the procurement technology landscape is fundamentally changing and moving towards the use of cognitive technology, impacting the skills required in procurement in the future.

At the Big Ideas Summit 2016, we challenged our thought leaders to share their Big Ideas for the future of procurement.

From ideas that have the potential to change the very nature of the procurement profession, to ones that got the assembled minds thinking about the profession’s impact outside of the organisation, the response we received was amazing.

Barry Ward, Procurement Brand Manager, Global Business Services at IBM, believes that, in order for procurement to successfully demonstrate the value it adds to organisations, it will have to bring in the right people, with the right skills, to allow it to harness the power of cognitive technology.

Catch up with all the thought leadership and ours delegates’ Big Ideas from the 2016 Summit at the Procurious Learning Hub.

If you want to find out more about Big Ideas 2016, and what we have planned for 2017, you can visit our dedicated website!

If you like this (and you haven’t done so already) join Procurious for free today, and connect with over 15,000 like-minded procurement professionals from across the world.

Big Ideas Summit 2016: Big Idea #2 – Procurement Owns Talent

Mark Roberts, Global Procurement Capabilities Director at AB InBev, believes that procurement should be the gateway for new talent coming into the organisation.

At the Big Ideas Summit 2016, we challenged our thought leaders to share their Big Ideas for the future of procurement.

From ideas that have the potential to change the very nature of the procurement profession, to ones that got the assembled minds thinking about the profession’s impact outside of the organisation, the response we received was amazing.

Mark Roberts, Global Procurement Capabilities Director at AB InBev, says that procurement institutions and bodies need to do more to tell people what procurement is about, and organisations need to now be bold in order to attract the best and the brightest of new talent.

Catch up with all the thought leadership and ours delegates’ Big Ideas from the 2016 Summit at the Procurious Learning Hub.

If you want to find out more about Big Ideas 2016, and what we have planned for 2017, you can visit our dedicated website!

If you like this (and you haven’t done so already) join Procurious for free today, and connect with over 15,000 like-minded procurement professionals from across the world.

Big Ideas Summit 2016: Big Idea #1 – Share, Share, Share

Tania Seary, founder of Procurious, believes that procurement needs to share – share learnings, stories, experiences, and questions – in order to change the face of the profession.

At the Big Ideas Summit 2016, we challenged our thought leaders to share their Big Ideas for the future of procurement.

From ideas that have the potential to change the very nature of the procurement profession, to ones that got the assembled minds thinking about the profession’s impact outside of the organisation, the response we received was amazing.

Tania believes that the power of positive words and imagery, such as Avenger, Superhero and Rockstar, combined with the business words like collaboration, can make a huge impact on the people who make decisions in business in how they see procurement.

Catch up with all the thought leadership and ours delegates’ Big Ideas from the 2016 Summit at the Procurious Learning Hub.

If you want to find out more about Big Ideas 2016, and what we have planned for 2017, you can visit our dedicated website!

If you like this (and you haven’t done so already) join Procurious for free today, and connect with over 15,000 like-minded procurement professionals from across the world.

Editor’s Choice: 5 Big Ideas to energise your day

On April 21st, 50 of the world’s most influential procurement minds joined forces with over 14,000 digital delegates to crowdsource Big Ideas for the future of procurement.

By popular demand, we’ve brought together five thought-provoking Big Ideas from some of the biggest names in procurement.

Big Idea – Millennial Talent Response


Nic Walden, Director – Procurement P2P Advisor at The Hackett Group, talks about the greater expectations that Millennials have for job roles.

From expectations about working on CSR projects and building sustainable relationships, to the technology that they will be working with, Nic argues that procurement needs to change the way they engage with the Millennial generation in the workplace.

Big Idea – Maximise Social Impact


Hugh Chamberlain, Commercial Procurement Lead at Johnson & Johnson, challenged procurement professionals to buy from social enterprises in his Big Idea.

Buying from these enterprises can help add value to society, the community and the planet, as well as giving buyers immense personal satisfaction.

Big Idea – Everyone Can Contribute


Nathan Ott, CEO e.g.1 Ltd and Director at The GC Index Ltd, argues that while not everyone is a ‘Game Changer’, everyone is capable of making a game-changing contribution, from the top to the bottom of the organisation.

However, in order to do this, organisations need to create a culture where it is safe to fail, and these ‘Game Changers’ are not seen as disruptive, pigeon-holed, or made to conform. Only by doing this can organisations create real step change.

Big Idea – Harness the Crowd


Lisa Malone, GM – Europe at Procurious, talks about how procurement can lead organisations in harnessing the power of the crowd, and the concept of ‘hackathons’ in order to drive innovation.

Hackathons provide an opportunity to work on the business, rather that in the business. They give employees the chance to take time out and come up with new ideas, and communicate and collaborate with people they would not have the opportunity to do so with otherwise.

Big Idea – Challenging Traditional Procurement


Lee Gudgeon, Client Engagement Director at REED Global, says that the increasing role of procurement has highlighted a shortage of candidates with the right skill sets available to come into the profession.

Lee argues that procurement recruiters also need to be up-skilled in order to recognise the relevant skills and capabilities required in procurement, in other functions, and open up the market to people who might otherwise have been overlooked.

Want to see more Big Ideas? Check out our extensive library containing two years’ of Big Ideas from some of the world’s leading thinkers in procurement.

Innovating the Last Mile of the Supply Chain

From Amazon delivering your groceries, to a host of companies delivering your dinner, the competition for the last mile of the supply chain is heating up.

At the Big Ideas Summit 2016 last week, there were a whole host of discussions around the future of the supply chain. Paul Markillie discussed the future trends in manufacturing (and you can watch Paul’s Big Idea video too), while Lucy Siegle discussed the increasing need for transparency and ethics in the supply chain.

Ahead of the Summit, we also asked the Procurious community about their Big Ideas for the future of the supply chain, and logistics, industries.

David Weaver, Online Marketing Manager, INFORM GmbH

Big Ideas Supply Chain - David WeaverIt truly is an exciting time to be involved in the supply chain industry. Over the course of 2016, technological advancements in the field of robotics will continue to reshape manufacturing and warehouse facilities.

Based on what I saw at some of the events I attended in 2015, I believe picking bots in large warehouses will become a reality, sooner rather than later. Additionally, the migration of supply chain planning into the Cloud will continue to expand and the implementation of advanced analytics to successfully plan across all supply chain functions will experience an upward trend.

Furthermore, companies will have to get creative with their methods for increasing transparency across their value network. However, in order for companies to be successful, the 4 important T’s of transparency must be fulfilled:

  • The topic must have traction within the organisation,
  • Internal and external trust must be established,
  • Appropriate supplier training programs should be in place, and
  • Today’s available technology needs to be implemented.

Next to all of these leading topics, I expect some of the biggest ideas to be aimed at solving the “last mile” logistics problem. Over the last few years we have seen several last mile logistics providers introduce their innovative approaches to solving the problem (Doorman, Roadie, Deliveroo, etc.).

I expect the fight for control of this market to continue, and as a result of the high level of competition, we will continue to see new, innovative problem-solving methods. 

Even although the event itself is over, there’s still time for you to get involved with the Big Ideas Summit 2016. Visit theBig Ideas Summit website, join our Procurious Group, and Tweet your thoughts and Big Ideas to us using #BigIdeas2016.

In the coming weeks, we’ll be sharing exclusive and unique thought leadership, Big Ideas, and discussion that will shape the future of procurement. Don’t miss out – get involved, register today.

For Spend Management Success, Don’t Say the P Words!

Thinking differently about procurement starts with talking differently. If growth companies want to succeed then they need to change their vocabulary, starting by introducing the term ‘Spend Management’.

Robert Kneschke/Shutterstock.com

Read Tyler’s thoughts on when to buy your first ERP system here.

When should a growing company start building its procurement infrastructure? When you reach about 100 employees, or when you buy your first ERP system, whichever comes first. Not many companies have the foresight to do this. The common wisdom is that you bring in procurement at about 700-900 people. That’s too late.

In my experience one thing that keeps companies from starting as early as they should are the “P” words: Procurement; Purchasing; Process; Policy. Not only do these words define the function too narrowly, they’ve also become synonyms for bureaucracy and red tape.

People at small, entrepreneurial companies recoil when they hear these words. We need to rethink how procurement is positioned so companies can embrace it early on, and in a positive spirit, well before chaos ensues. That starts with changing the way we talk about it.

Call it Spend Management

Don’t get me wrong. I’m in procurement and I love the field. But this vocabulary is not just off putting, it’s inadequate for what the profession does today. The classical understanding of procurement is contract negotiations – leveraging a company’s size and buying power to get discounts and save money.

That’s not a bad thing to be known for, but it’s understandable why somebody with that classical understanding working at company of a couple hundred people would say, “We don’t need procurement yet.” They can’t yet buy on a massive scale, and at that stage revenue is far more important than savings.

What people outside the profession don’t realise is the extent to which the function has been growing in responsibility and strategic importance over the past few decades. However, we still haven’t communicated clearly about the nature of the role, its importance and how it fits in the organisation.

Procurement should really be joined at the hip with finance, but ask five different finance professionals what encompasses procurement, and you’ll get five different answers. If our closest ally in the organisation doesn’t fully understand the role, we clearly need to do a better job communicating what it is we do.

Procurement today should ideally encompass five or six functions: strategic sourcing, contract negotiation and management, workflows for buying, supplier information management, and the handoff to accounts payable and the ERP system. Continuing to call all of that procurement really doesn’t do it justice. Spend Management is a much better term. 

Think More Broadly

It’s not the sexiest term, but it does imply a broader function that’s squarely aligned with finance. Even employees at a small company will recognise the need to manage spending. Maybe if it’s presented that way, we can start sooner, and with greater focus and intention.

A small company may not be ready to negotiate big contracts, but they do need to buy things and pay bills, so they set up an AP department and processes for paying people. Whether they realise it or not, they’re already laying down the foundation for their Spend Management infrastructure.

At about 100 people, someone needs to start planning how that’s going to scale and start laying the groundwork. If you walk in at 100 people and start using the ‘p’ words, it would actually create a barrier to starting. But if you wait much longer than that, the first job is to jump in and stop a fast moving train.  When that’s a company’s first introduction to procurement, it only serves to reinforce any negative impressions they may already have.

Don’t Wait to Build

Once those impressions get culturally ingrained, it’s an uphill battle to change that perception. Yet that’s what happens all the time. The vocabulary and, by extension, the whole profession has become synonymous with bureaucracy, and no small company wants anything to do with bureaucracy.

This is holding companies back from proactively building out spend management as part of an efficient, effective corporate finance infrastructure. You’re going to build infrastructure around marketing, sales and delivering your product or service.

There’s a one hundred percent chance you’ll also need to build infrastructure to support spending money as the company as it grows. Yet most companies wait until things are really broken and people are complaining, and then the whole thing is really painful. If you start early you have a chance to set up a system that works smoothly from the get go.

Be the Change

Change has to start with those of us in the profession. We can talk more broadly about what we do. We can talk about ‘buying guidelines’ instead of ‘purchasing policies’ and ‘simple steps to getting what you need to do your job’ instead of talking about the ‘procurement process.’ Neutralising these defensive barriers helps people realise, “Oh, okay, these are ways that I can get what I need to do my job in an easier way.”

Small companies may not be ready for concepts like category management and contract negotiations, but they need help buying things, designing workflows and finding automated tools. They may be able to do some simple sourcing for volume discounts, and there are usually all sorts of unmet needs. It’s at that point you need to bring someone in to address them with an eye to the bigger picture of building a scalable spend management program that’s integrated into the corporate finance system.

There are lots of ways to approach it, and lots of conversations we could be having, if we don’t let the ‘P’ words get in the way.

Coupa are one of the sponsors of the Big Ideas Summit, to be held in London on April 21st. If you’re interested in finding out more, visit www.bigideassummit.com, join our Procurious group, and Tweet your thoughts and Big Ideas to us using #BigIdeas2016.

Don’t miss out on this truly excellent event and the chance to participate in discussions that will shape the future of the procurement profession. Get Involved, register today.