Tag Archives: big ideas summit

5 Of The Most Controversial (But Useful) Ideas To Come Out Of Big Ideas Summit

Big new ideas don’t always meet with universal approval – but sometimes the most controversial ideas are the most useful.


Last week Procurious had the pleasure of spending the day dreaming big with some of the brightest minds and expert thinkers from inside and outside our profession.

Yes, it was the time of year for Big Ideas London – and what a day it was!

Our speakers delivered keynotes across a huge range of topics, from social media and procurement technology to smart pills and why winning at IT tended to make you the winner in the long run. Each session brought its own insights into the current and future state of the procurement profession – providing, as ever, tangible ideas for our audience of senior procurement professionals to take back to their organisations.

Bu there wasn’t always agreement. Discussion abounded, both inside the room and outside on social media, as to what procurement needs to do to evolve and what the next 10 years will look like. 

Some ideas proved far more controversial than others. But every single one was useful for the audience.

We’ve picked out 5 of the most controversial, but still useful, ideas from the day. 

And you know we’ve had some great discussions when the use of smart pills to ‘hack’ your brain isn’t one of the most controversial concepts from the day!

1. If you’re going to be boring on social media, you might as well not bother!

Social media is disrupting everything it touches. And social selling lies at the very heart of the business model. This doesn’t mean everyone is selling a product, but social media platforms can be vital tools for procurement when it comes to finding what they are looking for.

According to Tim Hughes, CEO and Co-Founder at DLA Ignite, 92 per cent of B2B buyers start their search online. And by using social media 78 per cent of salespeople are outselling their peers. 

But the idea on which Tim focused was how people are perceived on social media when they appear in searches.

Social selling products is one thing. But social selling can also mean promoting yourself on social media as a professional, an expert thinker, an influencer – or even the next manager young professionals want to work with. 

For too many professionals and experts, the perception of them on social media isn’t good. You’ll find profiles lacking key information and not providing any evidence to back up claims of experience and knowledge. And, for many, profiles that are downright boring!

Tim’s view is that if your profile is boring then it’s not even worth your time getting involved. Tim used the example of two global experts in a niche market – one with a wealth of information across all of his profiles and the other with barely their name on the page. 

Who, as a user, are you going to approach for advice? Even if the person with no information is the global expert, you’re going to look elsewhere.

Social media is absolutely the way to go, but you need to commit to it and share all the right information in order to make an impact.

2. Technology solutions providers have failed procurement

Eighty-one per cent of firms who have invested in technology solutions for risk management aren’t satisfied with the results. What are we all doing and why would we accept this, asked Justin Sadler-Smith, General Manager at Basware.

But Justin wasn’t finished there. In what was a bold and controversial statement from the general manager of a major player in the technology solutions market, he argued that technology solutions providers have failed procurement. Failed in their software, failed in their support, failed to provide what was required beyond a one-size-fits-all approach.

But, according to Justin, this failure was a two-way street. Procurement teams had to share a measure of the blame because they had accepted these solutions (with a shrug) as ‘good enough’.

This led to a great opportunity for our first keynote hashtag of the day (#goodenoughisnolongergoodenough) and a healthy discussion on exactly what the profession needed to be doing in the future.

3. It’s time to rethink the Triple Bottom Line

You’ve heard of product recalls – Toyota; Samsung; Pfizer; Mattel – but how about recalling an idea? It might sound strange but that’s exactly what John Elkington, the founder of the concept of the Triple Bottom Line (TBL), has done.

The thinking behind the recall was outlined by Professor Omera Khan, a strategic supply chain risk expert and champion for sustainability in business. The concept of the TBL is still sound, according to Omera. But as sustainability becomes even more critical the TBL needs to be stronger to challenge existing concepts and really make supply chains sustainable.

Supply chains need exponential or fundamental, rather than incremental, change – and to stop marching to the drumbeat of old ideas and concepts. Omera talked about creating regenerative supply webs that will help prepare procurement for the future and the ‘green swans’ that are inevitably heading our way.

4. CPO to CVO

If there was one idea that lit the blue touchpaper in the room and on social media, it was this controversial suggestion by Diego De La Garza, Director, and Philippe de Grossouvre, Business Development Director, both at Corcentric.

The duo discussed what the procurement profession was going to look like in 20, 30, 40 and 50 years’ time. Even with this long-term view, Diego and Philippe emphasised the importance of procurement understanding where it came from in order to better understand its future. 

It was the idea that procurement will become recognised as a part of finance in the future that really got discussion going. The movement from CPO to CVO (Chief Value Officer) would give a wider-ranging strategic role, but could it also take procurement thinking back 20 years to when this idea was first espoused?

The audience was split on whether this was the correct approach. Does procurement need to go backwards to go forwards? You decide.

5. RIP the RFP?

The final controversial idea was one that had the most experienced professionals in the room recoiling in horror. OK, not really, but it was a theme that was brought up time and again over the rest of that day. 

Once again we return to Justin Sadler-Smith’s keynote and the idea that procurement is too wedded to traditional concepts to really evolve.

The biggest cause of this was the continuing use of RFP/RFQ/RFx in sourcing activities. Justin argued that in a world of big data that can be analysed almost instantly by technology and AI, why would businesses continue to use valuable time and resources on an RFP? 

Could the same answer not be found from stored supplier data, compared and reviewed as required?

Or could there be a balance? Rather than taking RFP/RFQ/RFx away altogether, organisations should be looking to use them in the appropriate settings. 

Think tenders for multiple millions or billions of pounds/dollars. Or follow Chris Fielden at Innocent, for whom going to market can help provide genuinely innovative solutions to problems that raw data analytics just couldn’t provide.

Whether you’re a traditionalist or a futurist, this debate is not going away any time soon.

Dream big – like a champion

So there you have it. We dreamed big and created some great, new, big ideas for you to take away to think about and discuss in your organisation. You may not agree with all of the ideas and you might not agree with our list, either. 

But the important thing, as our final speaker Sir Clive Woodward, England’s 2003 Rugby World Cup-winning head coach, noted: ‘Do not underestimate where new ideas can come from, so always keep yourself open. Practice “Relentless Learning” and you too can develop the DNA of a champion.’

Join Us For Big Ideas 2020 As A Digital Delegate

A new year means the start of many new ideas and we have something just for you that’ll get the brain cells firing!

Our flagship event – Big Ideas Summit – is happening on Wednesday 11 March in London and we’d love your brain to be part of it as a digital delegate.

Hear from Sir Clive Woodward, former coach of the England rugby team and keynote speaker at the summit explain why talent isn’t enough and what he learnt about finding joy at work from a dentist.

Check out this great interview with him on what makes a great leader and the traits of English rugby captains.

Or perhaps it’s Professor Omera Khan you’re interested in hearing from as she dives into the death of the Triple Bottom Line framework and the new kid on the block that’s taken its place.

Check out her thought-provoking piece published on Procurious last week – Can we use the disruptive model pioneered by Amazon, Uber and Airbnb in the struggle against climate change?

And if that isn’t enough to entice you to watch along, we’ll leave the final words to those from some past events.

Big Ideas Sydney 2018 – Live from the sidelines

Question: What does it take to be an influencer in an organisation?

Big Ideas Chicago 2019

Question: What’s the most exciting social or environmental change you’ve been able to drive in your career?


Have we enticed you enough already?

If you’re ready to hear Woodward’s electrifying keynote speech plus much more then register here now.

The let us do the leg work while you gather intel and new ways of thinking to drive your business forward this year.

Make 2020 the year of the new idea. We are.

Big Ideas Is brought to you by Procurious – Do you work in procurement or supply chain? Join 37,000 + procurement and supply chain professionals at Procurious today, and receive free access to the latest industry news, information, training, events and much more. 

Procurement Can . . .

To focus on savings alone is to sell procurement short and miss out on its potentially game-changing capabilities.

A good procurement team can save your business money. This goes without saying. Savings are for procurement what risk mitigation is for legal, innovation is for R&D, and new business is for sales. They’re table stakes, just the very beginning of what a well-equipped and well-staffed function should offer the organisation. To focus on savings alone is to sell procurement short and miss out on its potentially game-changing capabilities.

While reducing costs remains the top priority for today’s procurement teams, it’s high time for the function to evolve its objectives and diversify its value proposition. With visibility across the global supply chain, procurement is perfectly equipped to address the monumental concerns that plague the business world. Labour violations, pollution, animal rights, and ethics – they’re all issues as relevant to procurement as cycle times and pricing.

Simply put, procurement is capable of more than saving money. It’s capable of saving lives and it might just help us save the planet.

Procurement Can . . . Save Lives

Stopping Forced Labor

It’s appalling that, in 2019, forced labor is still endemic across various global supply chains. What’s worse is that the United States imports more “at risk” products than any other country in the world. According to the Global Slavery Index, the U.S. brought in more than $144 billion of these products and commodities. They report that electronics, fish, cocoa, garments, and natural resources like gold and timber present an especially high risk.

On a more hopeful note, the nation’s score on the Government Response Index ranks behind just the Netherlands. Still, with as many as 400,000 modern slavery victims within its borders, it’s clear the United States must do more. The scope of the forced labor crisis is such that companies in nearly every industry are touched by it in some capacity. Due diligence has grown both increasingly imperative and increasingly challenging. Organizations like Rip Curl and Badger Sportswear present recent examples of what can happen when an American business fails to gain and sustain visibility across the globe.

Methods for assessing suppliers, monitoring their behavior, and addressing violations must all evolve. It’s more dangerous than ever to settle for a low price or select a provider based on an incomplete set of considerations.  Supplier capacity, for example, is a more nuanced issue than Procurement may have previously considered it. Under-resourced suppliers might partner with unscrupulous organizations if they’re faced with demand that outstrips expectations. The onus also falls on procurement to provide better, more accurate forecasts to avoid such a situation. Data won’t just provide the means to secure better pricing and anticipate consumer tastes, but to eliminate human rights violations.

Forced labor is a shared issue that requires a shared response. It’s up to organisations who purchase high-risk commodities or operate in high-risk regions to collaborate with their competitors. Joining groups like the garment industry’s Fair Labor Association or the Electronic Industry Citizenship Coalition, they can elevate industry wide standards and recognize organizations for setting particularly excellent (or particularly poor) examples.

Supporting Disaster Relief

Few things keep supply chain managers up at night like the specter of extreme weather. As an increasingly volatile climate threatens shipping lanes, roads, and storage facilities, disaster preparedness has become a year-round concern – even for organizations that do not operate in “high risk” areas. In 2018, hurricanes alone caused more than $50 billion in damages throughout the Americas.

Crucially, it’s not just the business world that suffers when hurricanes, earthquakes, and other natural disasters strike. Damaged roads and lost power leave consumers without access to necessities like clean drinking water and medications. Sometimes they’re without these essentials for months at a time. Beyond repairing their own supply chains, well-prepared procurement teams can participate in a broader, more socially responsible form of disaster relief.

Accurate, proactive forecasting makes it possible for businesses to continue serving their communities even in the wake of natural disasters. In addition to avoiding disruptions of their own, they’ll ensure consumers experience minimal disruption. Remember, supply chain hiccups are often more deadly than natural disasters themselves. This was the case when Hurricane Maria struck Puerto Rico back in 2017. Experts estimate the vast majority of deaths were caused by interruptions to the supply chain for health care and life-saving medicines. In a sense, disaster relief efforts failed because of “final mile” complications.

Evolving technologies will prove essential for extending these supply chains and mitigating the human cost of extreme weather. Unmanned aerial vehicles (drones) promise to play an especially active role. While drone-based deliveries for food or Amazon packages tend to dominate the headlines, recent pilot tests suggests they may soon serve a higher purpose. In the aftermath of Maria, non-profit Direct Relief partnered with Merck, AT&T, and other providers to test the viability of medication delivery drones. The drones provide temperature-controlled storage for sensitive materials and come equipped with real-time monitoring to adjust their flight paths as necessary. With each party providing their own expertise and resources, the pilot tests provide a case study in socially responsible collaboration.

Procurement Can . . . Do More                                                                                                                            

In the past, organisations may have neglected to invest in sustainable and responsible initiatives. The fear of higher costs and harder work likely stayed their hands. Businesses need to stop asking whether or not they can afford to behave ethically. They should ask, instead, how much longer they can afford not to. More and more, consumers are growing tired of inaction. They’ve also grown increasingly wary of inauthenticity. Where simple greenwashing might have sufficed in the past, new generations of consumer are increasingly skeptical and unforgiving when it comes to corporate behavior. The most recent Deloitte Millennial survey found that a quarter of young consumers don’t consider business leaders trustworthy, less than half consider them ethical. They’re not the only ones. Across every generation, the desire for ethical, responsible business practices has evolved into a demand.

In my next blog, I’ll look at how procurement teams across the globe can (and already do) lead the way on sustainability. Eliminating plastic, identifying sustainable alternatives, and reducing emissions, the function is equipped to set and enforce a new environmental standard.

In the meantime, why not register as a Digital Delegate for this year’s Big Ideas Summit Chicago? You’ll enjoy the chance to sit in on thought leadership presentations from some of the Supply Chain’s most thoughtful, innovative, and successful professionals – all without leaving your desk. 

Big Ideas Summit – A Review

“The overall standard of the speakers and content was very strong, and here are four points that stood out for me as positives.”

By Rawpixel.com / Shutterstock

Yes, I was looking forward to the Procurious Big Ideas Summit last Thursday. But when I got up to see pouring rain and realised that the opening session was all about Brexit, my heart sank more than a little. Perhaps South Western Railways would come through with a handy 45-minute points failure? But no, all went well, and I was at the rather lovely Soho Hotel in good time for Professor Anand Menon, Kings College London and Director of think tank “UK in a Changing Europe”.  I sank back into the very comfy seat and prepared to be bored. 

And he was great. Probably the clearest description of where we are with Brexit that I’ve heard, and convincing ideas of where we go next. Why isn’t this man on the BBC more often, I wondered?  And guess what? When I got home that night, there he was, reviewing the papers at 10.30pm on the BBC News Channel!

So, what else was good about the Summit? The overall standard of the speakers and content was very strong, and here are four points that stood out for me as positives. 

1. Whether it was planned or not, almost all the speakers left plenty of time for questions and discussion. With the size of the group – around 50 – that meant we got into some genuinely interesting and engaging debates. For instance, Julie Brignac (from WNS Denali) gave an interesting viewpoint on why CPOs don’t make it to CEO very often. But because she only used half of her 35-minute slot for her formal presentation, we then had a really good interactive session with loads of comments and ideas flying around. A good lesson here for speakers and event organisers generally, I think. 

2. Although there were “sponsor speakers” from Ivalua, SAP Ariba, Barclaycard, and Icertis (plus WNS Denali), none of them simply promoted their product. Indeed, in the case of Justin Sadler-Smith of Ariba, someone asked him why he hadn’t focused more strongly on technology as an enabler for procurement transformation during his session! That showed admirable restraint from him in my book.  Vishal Patel from Ivalua was similar, talking about the hype and reality of AI, including the vital need for robust and accurate underpinning data, without pushing his own solutions too strongly. 

3. That size of audience – around 50 people – does help with networking.   You generally see and interact with people several times during the day, so particularly if you go along to the post-event drinks, you can make real personal connections through the event. That’s harder to do when there are 200 people at an event. 

4. The non-procurement “inspirational” speakers were very well chosen. Darren Swift lost both his legs when serving in the Army in Belfast, and has since become a champion sky-diver, a snowboarder, actor and motivational speaker. Just amazing and testament to the power of positive thinking. And David Gillespie is an actor and writer who told us about the power of stories, and how we can project our “status” and image in a way that will make us more respected and effective when working with others. It’s the sort of thing that initially sounds a bit fluffy and new age, but he was actually very down to earth and totally convincing in his messages. And perhaps he gave us some clues in terms of answering those questions I mentioned above about CPOs getting to CEO!


So, I assume the sessions will be available online at some point, and they are pretty much all worth checking out (there was only one during which I may have dozed off…!)  

If you’d like to attend Big Ideas Summit London 2020 on 12th March please contact Holly Nicholson [email protected]

Make 2019 The Year Your Stakeholders #loveprocurement!

If procurement stays in its traditional role within the organisation, I believe will not achieve its potential growth.

By gpointstudio/ Shutterstock

Last year we asked a group of our customers why they ‘#loveprocurement’, and the answers were really a great testament to the evolving role of procurement. Ivalua is a company that was founded to serve the needs of procurement departments. We are very passionate about what we do, but even we were astonished at the wave of procurement love which came our way when we asked the question “Why do you #loveprocurement?” Here are some of the highlights:

A business function in the midst of a huge evolution, moving from optimising costs to becoming the creator of value and growth

Most procurement leaders have focused on some element of cost reduction and this remains an important area of focus. However, we are now at a point where procurement needs to, and can, look beyond cost savings and move to planning for a seismic change. No-one wins the race by just being good enough. In business being as good as your competitors will not ensure your future success. If you do not innovate you will fade away. We asked professionals why they love their jobs so much, and many called out procurement as being a highly innovative and dynamic department, full of creative people adding huge value to their organisations. Does this sound like you?

Last year we worked extensively with The Hackett Group and they published two excellent reports,

State of Procurement Digital Transformation, Part 1: Value Drivers and Expectations and L​essons Learned by Early Adopters, Part 2.​ In these reports they talk about getting the basics right and procurement getting its house in order ie building a data centre of excellence, getting stakeholders onboard, The latest report from The Hackett Group, ​Procurement Key Issues 2019,​ shows how things are moving on this year. Procurement organisations can move beyond best in class, and clearly the will of procurement teams is there to do this. However there needs to be better alignment between procurement and its business goals. If there is a focus on analytical capabilities (which there is), there must also be teams and individuals brought in with the skills to make this happen, that is when procurement will move to the stage of offering competitive advantage, rather than just as good as the competition.

The future of our profession is not written in stone. It is because of this that it is a passionate adventure for creative people

In a recent blog, Ivalua CMO Alex Saric talks recruitment as being one of the top issues for CPOs and their Senior Directors. What is clear from the comment above, is that the procurement industry is attracting top talent. The comment was repeated by many professionals, and what comes across is that people working in procurement are going above and beyond what might have traditionally expected from this sector. Wolfgang Groening, Head of Procurement Sourcing & Vendor Management at Deutsche Telekom talks in this ​short video​ about the fact that he loves to innovate. Wolfgang in particular calls out digital innovation and how this is allowing organisations like Deutsche Telekom to proactively look for ways to bring more innovation, rather than sticking with the transactional elements of procurement alone.

Fannie Mae, like many other organisations, are recruiting procurement experts that can bring industry knowledge and market insight. These experts are addressing their organisations’ needs to know what are the key trends in the marketplace, who are the movers and shakers in the market and where is innovation coming into play. This is so far from the traditional role of procurement as we could get. Sylvie Noel, CPO of French insurance giant Covéa speaks plainly when she says that has modernised her organisation’s procurement function and that now internal stakeholders or customers now have all the information they need from procurement and they either go for it or they don’t (her words). In Covéa, people can no longer moan about the ‘procurement black tunnel’, because Sylvie has brought in a tool which enables highly skilled procurement professionals to interact seamlessly with their customers, cutting out precious time which can be spend on new product innovations.

A function which has a significant impact on the bottom line AND on the TOP line of an organisation. It is a window of innovation from the outside

If procurement stays in its traditional role, the organisation, I believe will not achieve its potential growth. If procurement is just there to be the police and control cost, then that’s not good enough. Each department in any organisation of a reasonable size is making decisions every day which cost the company money. I’ve worked in marketing for 20 years, and some of the decisions I’ve seen made, and no doubt have made myself, have not always been 100 per cent well thought out! Marketing people are creative, last minute merchants, and this can mean that you do not always dot the Ts and cross the Rs. ​Procurement’s stakeholders, like marketing, need help as they too are going through a massive digital growth curve. I should know – I am a procurement stakeholder. As my department, marketing, steps into the great digital unknown, in a market that is constantly evolving we need skilled procurement professionals to help us make decisions which will be strategic to the company, and we are looking for that expertise and partnership. We need help to look at the innovations in our sector, and strong leadership in both marketing and procurement to make sure we are embracing new technologies, spending the company’s money wisely and driving growth. In addition, marketing and procurement departments need to be recruiting the sorts of individuals who collaborate by nature, who see the bigger picture, who are able to dream big, and also keep the end goal in mind.

What is clear from our #loveprocurement campaign and the answers that you gave us is that many of you love your jobs and are really passionate about the direction in which procurement is going. You are also clear that procurement can make a huge contribution to the bottomline and growth of your organisations. Now you need to make sure that your stakeholders feel this passion and begin to feel your influence on the direction your organisations are going.

Ivalua are sponsoring Big Ideas Summit London on March 14th. Sign up now as a digital delegate to follow the day’s action wherever you are in the world.  

4 Factors To Consider When Upgrading your Procurement OS

An upgraded operating system (OS) takes the procurement function out of the traditional back-office role, and into that of a valued strategic business partner.  

By Preechar Bowonkitwanchai /Shutterstock

That little flag in the corner of your laptop screen, the red exclamation mark on your phone, the middle-of-night system message. You know what it means- it’s time to upgrade your operating system.

Yes, it’s painful to exit your programs, save your work, and sadly close all 35 of your vacation-planning web browser tabs.  You sit, you wait, then you reboot and possibly even get reacquainted with your digital systems again. No one wants to do it, but in the end, we all are all thankful to those glowing, pulsing indicators for pushing us and guiding us through the process for that much-needed refresh.

Things run so smoothly now, don’t they?

What if we received the same upgrade reminders in real life?  What would your red exclamation mark tell you about your procurement operating system? Is it time for an upgrade?  Almost definitely! An upgraded operating system takes the procurement function out of the traditional back-office role, and into that of a valued strategic business partner.  

The transformation, however, can neither happen overnight nor without setting the right goals and planning.  You’ll need to close some browser windows and maybe lose a few saved files in the process. In our decade-long process of co-creating this operating model with leading global companies, we have identified four key enablers required to help you upgrade. Read on and trust me, it will all run so much more smoothly in the end.

Structure of Upgraded Procurement OS

1. Strategic Category Management

At the heart of the transformation is the shift that procurement has to make from being reactive problem solvers to proactive solution providers. This is not possible without category managers or business-aligned spend managers aligning with the business, understanding strategic priorities and building relationships with stakeholders. When category managers proactively reach out to the business, they begin to demonstrate value and finding a place at the table will become easier.

Building a centralised Center of Excellence (CoE) can help category managers develop the required skills. The CoE can provide the necessary support such as tools, methodologies, templates, market intelligence and coaching.

2. Centralised Procurement Help Desk

On any given day, procurement functions are inundated with queries and work requests. As procurement transitions to operate more strategically, it is critical to find an effective way to service internal and external stakeholders.

Setting up a centralised procurement desk can help channelise the requests to various specialist teams such as:

  • Strategic support team that can be responsible for services such as market research, category strategy development, stakeholder workshops and portfolio development
  • Source to manage execution team thatcan manage the execution of activities such as creation of request for proposals, supplier management and contract authoring
  • Transactional execution team thatcan manage back-office operations such as purchase order management and invoice-to-pay processing

3. Technology Accelerators

The digitisation of transactional and repetitive procurement activities is a low-hanging fruit for organizations as it will release the bandwidth of resources for more proactive, strategic planning. Further, digitisation can help identify patterns, norms and trends leading to a procurement playbook.

Supply chain management is experiencing a quantum shift because of emerging technologies such as internet of things, artificial intelligence and advanced analytics. Adoption of these technologies, is critical to upgrading procurement’s operating model, but it should be planned well. It is necessary to define the overarching vision and strategy, and to then evaluate how technology fits into the roadmap.

4. Implementation Approach

The final piece of the puzzle is the actual re-organization of the procurement function into the new operating model. It is a myth that technology by itself will be enough to integrate all processes. Putting together the right team, getting executive sponsorship, ensuring alignment with the vision and finding collaborative external partners are all critical success factors in upgrading to the optimal OS for your organisation.

This is where the smart phone operating system analogy falls a bit short- unfortunately, we, as the procurement team, can’t expect to wake up to a fully-restored bug-free system- good results take time. It is necessary to plan for adequate time required for the new model to mature and assimilate into the organisation’s new way of working.  If this is done correctly, your stakeholders will certainly experience the thrill of a significantly improved experience. 

Now is the time to upgrade your framework and develop the future infrastructure for procurement operations.

Are you ready to push the upgrade button? Learn more by reading WNS’ Next Generation Procurement Model Whitepaper.   

WNS are sponsoring Big Ideas Summit London on March 14th. Sign up now as a digital delegate to follow the day’s action wherever you are in the world.  

Big Ideas Zurich: 3…2…1… ACTION!

Big Ideas Zurich is now available to watch on demand. Sign up as a digital delegate to watch the event in full! 

We’re so excited to finally share Big Ideas Zurich with you. This truly digital event addresses what skills you need to perfect in order to drive peak performance in your career; what’s the latest intel on blockchain and how to close the gender pay gap in procurement.

The entire event is now available to stream on-demand via the digital delegates group on Procurious.

Check out the agenda below to see what tickles your pickle and watch some highlight videos from the event:

Tania Seary on Driving Peak Performance

Joelle Payom on Diversity and Inclusion

What is your favourite job interview question?

Big Ideas Zurich is now available to watch on demand. Sign up as a digital delegate to watch the event in full! 

Procurement Isn’t Lighting Up The World…Yet

“Procurement itself – let’s face it – isn’t going to light the world currently, but I believe it will be the new instrument in 2030 to change the world.” – Olinga Taeed, Visiting Professor in Blockchain at Birmingham City University

As we hurtle towards the new year, you might be starting to look ahead and reflect on your personal and professional development goals.

But why wait until January 1st to put your plans into action?

Next week, we’ll be addressing a huge range of critical areas for procurement and supply chain professionals at Big Ideas Zurich.

And, for the first time ever, we’ll be filming and streaming the entire day’s event via the Digital Delegates group on Procurious.

If there was ever a time to register for one of our summits, it’s now. Featuring presentations and interviews from some of Europe’s top procurement leaders, we’ll be discussing procurement and supply management towards 2030, the future of talent, automation, blockchain, diversity and so much more.

Check out our teaser trailers below for a little sneak peak of what’s to come.

Procurement isn’t lighting up the world

“Procurement itself – let’s face it – isn’t going to light the world currently, but I believe it will be the new instrument in 2030 to change the world.”

Olinga Taeed, the world’s first Professor in Blockchain and Social Enterprise, reveals how blockchain can be used for social good, why procurement isn’t currently lighting up the world and when that’s set to change. 

On December 10th discover…

  • What skills you need to perfect to drive peak performance in your career
  • The latest intel on blockchain 
  • How procurement can close the gender pay gap 
  • The latest updates on game-changing technology 
  • How to develop strategic partnerships 
  • Why supplier diversity is best for business
  • What procurement and supply chain will look like in 2030
  • How to stand on your supplier’s shoulders 
  • How to make your key business stakeholders love you
  • The ways to shift your procurement mindset 
  • The importance of having a digital endgame

Win a Parrot Bebop drone worth £450

We know that everyone loves a prize. And believe us when we say we’ve got prizes falling from the tops of the Swiss Alps.

As a registered digital delegate you’re in with a chance of winning one of eight amazing giveaways including the big-ticket item – a Parrot Bebop drone worth £450.

Plus, we’ve got Patagonia t-shirts, a Fjallraven backpack, stashes of Swiss chocolate and Herschel beanies up for grabs.

We’ll be doing eight prize giveaways throughout today with winners selected every half an hour. To put yourself in the running you simply need to get involved on the digital delegates group – posting your comments, insights and questions.

Sign up as  a digital delegate for Big Ideas Zurich (it’s free) 

Why Quick Decision-Making is the Name of the Procurement Game

ISM CEO Tom Derry urges procurement leaders not to let perfect be the enemy of good – make decisions and move on!

When Tom Derry, CEO – ISM attended Procurious’ Big Ideas Summit in Sydney this week he came armed with a stark warning for the procurement professionals in attendance. “If you’re the steward of a process, then your job will inevitably be automated.”

Concerned? You should be. Because, as Tom points out, there are an awful lot of procurement roles that fit this bracket. In the very near future, for example, every sourcing event is likely to be automated.

This article is a compilation of Tom Derry’s comments from his appearances at both the London and Sydney Big Ideas Summits in 2018.

Adapting to the pace of change

Procurement has changed dramatically in the past decade, and will change even more so as we move into the robotic era. Tom believes that we’re facing more disruption and a faster pace of change than ever before. “Most of us operate within a context or a framework that we’re familiar with – the established rules of the game. But when the rules get thrown out, how do we operate?

“Being comfortable with ambiguity is a rare skill, especially amongst executives,” he argues. But he reminds procurement leaders not to let perfect be the enemy of good, urging them to: “Make decisions and move on. If we don’t, our competitors will. Being able to move on and know that there are going to be times we don’t win is important. Accepting that as the cost of being in the game and having the opportunity to win is the reality we are in.”

“We can’t anticipate every possible scenario but what we can do is be ready for multiple scenarios and recognise that when we face an unfamiliar scenario we’ve built up some skills and reflexes that we can put into play.”

Of course, as Tom admits, it’s human nature to react in fear to such rapid change. But “there’s always opportunity when there is inherent change and risk.” The skill is in recognising where that opportunity lies. And that, according to Tom, “comes from a deep understanding of what creates value. The source of value might shift but it is still there somewhere.”

Making procurement indispensable

What key skills should aspiring procurement professionals be developing in order to make themselves indispensable?

“The CPO of the future possesses an openness to change, an openness to developing and an openness to sharing.” says Tom.

To improve business-wide understanding of procurement’s value offering it’s vital that procurement leaders allow their people to reach their full potential and move on. “Maybe it’s within your company, and now you’ve got evangelists in other functions who understand the importance of procurement, or maybe it’s outside the four walls of your company. There’s no better reputation to have than being seen as a cultivator of talent, both inside and outside the company”

Tom also highlights the following three skills as critical attributes for procurement professionals.

1. Understanding Markets
“This is about more than just the price,” asserts Tom. “Procurement professionals must understand the dynamics that drive the price whether it’s short supply or supply disruption, new technology that disinter-mediates an old technology.”

2. Strategic Acumen
Procurement leaders must ask of themselves “where am I going as a business? What’s important to my business in the next two to-three years?”

3. Financial Savviness
Procurement teams must accept that they really are driving financial results for their firm. “Sometimes we are a bit too afraid to engage with financial metrics and the traditional income statement or balance sheet. But we must embrace engaging with that income statement and balance sheet in order to understand how what we’re doing in procurement is driving financial metrics such as earning per share and driving revenue growth . We must not focus on metrics that are largely discredited like cost avoidance.”
The future of professional associations
[ISM has] been around for over 102 years and so future-proofing professional associations really matters to Tom. “For 102 years we’ve been very successful but you can’t continue to execute that playbook and expect to still be around.”

“An association used to function as the place where people felt obliged to belong,” says Tom. But nowadays he doesn’t believe procurement professionals feel such a sense of needing to belong to an association just for the sake of belonging. What people need and demand from associations like ISM is “value for money and the provision of tools and skills that enable them to be successful at a critical moment in their career.”

Another key evolving role for associations, according to Tom, is their role as data brokers. “We’re able to reflect back to the profession everything we learn about the profession because we deal with all industries and all geographies, we have a broad view of what’s happening.”

Big Procurement Questions Deserve Big Answers

We know that procurement professionals like to get the latest intel on the hottest topics from the best in the business – so we’ve sorted you right out.  Your big procurement questions: answered. 

Elizaveta Galitckaia / Shutterstock

What are the surefire ways to speed up procurement processes?

Can procurement ever completely eliminate maverick spend?

Why shouldn’t procurement simply squeeze their suppliers for every dollar they’ve got?

What technology will be the most game-changing for procurement?

What’s the best question to ask a candidate during a job interview?

Procurement questions as big as these require big answers from  people who know their stuff.  Happily, we gathered 50 of procurement’s top influencers and thought leaders in Chicago last month for Big Ideas Summit 2018 and managed to steal a few quiet minutes to put some of them to the test.

Pat McCarthy,  SVP & GM – SAP Ariba

Pat on eliminating maverick spend…

“Procurement can [eliminate maverick spend] but it has to make the purchasing process a destination people want to come to”

Pat on supplier relationships…

“You have to have a great relationship with your suppliers, one where they benefit and you benefit so that making a profit and you fining value in their solutions is the right balance.”

Pat on his favourite job interview question…

“I love to ask candidates about the last book they read because I’m most interested in curiosity – are they curious, what are they curious about – it tells me a lot about them.”

Read more from Pat McCarthy in his blog Procurement with Purpose – Not All Rainbows and Fairytales. 

Doug Leeby, CEO – Beeline

Doug on eliminating maverick spend…

“I think there are certain people, especially executives, who are special and they will always go around the system. If you had the power to say only those that are in the system will be paid then perhaps you [could eliminate maverick spend] but i’ve never seen a situation that had 100  per cent compliance.”

Doug on  his favourite job interview question…

“My go to question is – what are two or three things that you’re really really bad at?  What I’m looking for is A) what they’re really bad  at but more importantly the degree of introspection they have. If they’ve been honest with themselves and done a real inventory of what their areas of development are, what are their weaknesses then they’re somebody I can trust and work with.  If I hear somebody say that they don’t have any then they’re not going to be a good fit for us”

Read more from Doug Leeby in this blog The Rise of the Contingent Workforce… And How to Manage It. 

Daniel Perry, Global Alliances Director – EcoVadis

Daniel on eliminating maverick spend…  

“I don’t think procurement can necessarily eliminate all maverick spend, buyers find ways around any rules that you might put in place.  But if you can provide a very strong vision and mission for procurement and the company in general as to why you are trying to avoid maverick spend, if you can align it to your company’s  sustainability mission or the fact that you want to try and avoid using suppliers that use modern slavery then it gives the buyer another cause for pause before going off and doing maverick spend.”

Daniel on game-changing technologies… 

“Transparency is really changing the way that business is being done these days –  there is much a higher expectation for businesses and their supply chains, who they work with and who they’re associated with so I think the technology around due diligence, around assurance, around using companies that are reputable is going to be a big game changer in the way that companies decide which suppliers to use.”

Read more from Daniel Perry in this blog, Making Sustainable Procurement Work. 

Check out all of our exclusive video content from Big Ideas Summit Chicago via the Digital Delegates group on Procurious.