Tag Archives: procurement podcast

Procurement Leaders: Stop Talking About Headcount Reduction!

If you want your procurement teams to be more open to adopting cognitive solutions and less scared of them, stop talking about headcount!

There are many factors that require careful consideration to bring about effective cognitive solutions.

It’s akin to conducting a group of musicians – it might be possible (easy even!) to attain a pleasant sound from a solo instrument… 

But, if expertly managed,  you could accomplish a symphony from the entire orchestra! 

This week, our podcast series will guide you through the five steps required to conduct a dazzling cognitive symphony. 

On Day 4 of Conducting A Cognitive Symphony Marco Romano – Procurement Chief Analytics Officer, Global Procurement, Transformation Technology, IBM talks on the common pitfalls in the adoption of cognitive solutions, the most impactful actions procurement pros can take to increase the speed of adoption and how to overcome the fear factor!

The Fear Factor

“How the leadership works with the teams to remove barriers (operational, physical and psychological) will ultimately have a huge influence on the rate and pace of adoption of cognitive and analytics solutions” explains Marco in his white paper. 

When it comes to the fear factor, “there is no doubt that there is a concern that rich insightful analytics will show opportunities that imply the practitioners have historically failed in teir jobs.

“There is also no doubt that there is fear that cognitive solutions could replace some of the activities currently carried out by practitioners.”

One factor that causes this fear is the “poor messaging on why you want to commit these tools, and what the desired outcome is which creates fear and resistance, to adoption and change.”

How can organisations manage their employees fear to ensure the adoption of cognitive solutions isn’t impeded?

Stop talking about head count!

When procurement professionals look at something that brings new information and insights that haven’t been available before, it leads them to question a number of things:

Is it a challenge to what I’ve done before?

Is it a challenge to the accuracy of what I’ve done before?

and, ultimately

Is this technology going to make what I do now redundant?

“fear is something that we see. CPOs are constantly talking about robotics, automation, right?”

“And very often, I hear head count being brought into the discussion, Head count reduction being brought into the same discussion with cognitive analytics, and whilst that might be the eventual outcome, I think it’s a dangerous way to enter into the dialogue”

“If that is the primary driver, to reduce head count in the organisation, I find that very often that’s reflected in your metrics. It’s reflected in the behaviours. And in turn, it’s reflected in poor adoption, and resistance by practitioners.”

“You’re creating that fear of job security. And invariably, I find practitioners push back, and they’ll find they spend their time trying to justify why a tool won’t work for them.”

“To overcome this you need the right methods, but secondly, and very importantly, I think you need to provide practitioners with the road map on how to change, and sharpen their skills in this changing environment.

Educate your teams

Procurement professionals need to have an understanding of the strategy and impacts new solutions will have.

You need to be able “to show the practitioners how the change benefits them, not just the enterprise” Marco explains.

“And this sounds really basic, but it is so important. [You need to be able to show them]  I’m going to help you spend less time on those lower value, tedious, time-consuming tasks, allowing you to focus on the higher value activities.  Most professional practitioners that I know, prefer to spend their time on those higher valued tasks -negotiating with suppliers, rather than crunching numbers”

That’s the first thing. But the second thing  is, providing them education and training, on this new data skill set. I think you very quickly erode that resistance. They see a path for them, within the enterprise, within the organisation, but you’ve given them a marketable skill, which in turn removes resistance and fear.

“I’m not talking here about turning practitioners into data scientists. I’m talking about arming them with knowledge about how they impact data, teaching them the art of the possible, with regards to how technology can help them to be more effective consumers of that data, and insights.”

Striving to conduct a cognitive symphony but in need of some expert guidance? Our podcast series runs throughout this week and will have your orchestrating cognitive success in no time! Register here.

How To Avoid Transaction Automation Landmines

When it comes to implementing transaction automation, managing the trade-off between the speed of execution and the granularity of data is a challenge…

There are many factors that require careful consideration to bring about effective cognitive solutions.

It’s akin to conducting a group of musicians – it might be possible (easy even!) to attain a pleasant sound from a solo instrument… 

But, if expertly managed,  you could accomplish a symphony from the entire orchestra! 

This week, our podcast series will guide you through the five steps required to conduct a dazzling cognitive symphony. 

On Day 3 of Conducting a Cognitive Symphony Anna Madarasz, Analytics & Cognitive Lead , IBM Global Procurement discusses the importance of appropriately applied transaction automation, striking a balance between speed of execution and granularity of data and how to avoid landmines.

The importance of transaction automation

Marco Romano, Procurement Chief Analytics Officer, Global Procurement, Transformation Technology, IBM discusses  taxonomy in his white paper, “Transaction automation is a business necessity.

“We all want to spend less time doing repetitive lower-value work and use our skills to provide higher-value services to the business. However, as with many good things, badly applied transaction automation results in poor data and ultimately lost productivity and analytics effectiveness down the road.”

Transaction automation landmines

Procurement organisations are usually very well intentioned when it comes to the implementation of transaction automation but that’s not to say the process is without its challenges. We asked Anna to describe some of the landmines she’s seen procurement professionals hit.

Catalogs or other automation processes that allow the editing of item description and price can make the life of the client and the buyers easier.

As companies  see the positive effect of this they are likely to have a higher percentage of their transactions and spend going through catalogs.

The risk with this, as Anna points out, is  setting yourself unrealistic targets, “there is always a logical threshold, over which it is a risk to apply automation. Of course, you will not implement a catalog line if you  only have two purchase orders of the same nature in a year.

“With wrongly defined targets, a catalog isn’t going to decide action and then, of course, you spend more time on creating and maintaining your catalogs than creating your purchase orders.

Bulk Purchases

Anna also advises avoiding the catalog lines that allow bulk purchases.

“Many times it is really not easy to identify the purchase in a fixed line. Let’s say you are buying server configurations [or] storage configurations. Those are made up of multiple parts, so you  have hardware, software and services elements in it.

“A configuration can be made up of 50, 100 lines. If you allow your clients and your buyers to raise purchase orders simply as a one line item, this server [could cost] one million US dollars!”

“Of course, it’s a really sensitive balance because you also want to avoid the workload of raising incredibly granular purchase orders, so it is really your call at what level you would like to analyse [a given category.]”

“If this is a category which is your main area of focus, then try to go granular, try to get the data. If it’s not, then it’s your call if you are allowing these bulk purchases.”

The trade off

“There is always going to be a trade-off between speed of execution and granularity of data” says Marco

“Finding the right balance again takes us back to developing an understanding of what data we need to achieve our desired cognitive and analytics state. There is no doubt that teaming with the right technology and innovation provider, and selecting the right tools, is critical to that balance”

Striving to conduct a cognitive symphony but in need of some expert guidance? Our podcast series runs throughout this week and will have your orchestrating cognitive success in no time! Register here.

Is Your Taxonomy Flexible and Multidimensional?

For a taxonomy to be effective, and feed a cognitive engine, it needs to be multidimensional, flexible, and situation based…

There are many factors that require careful consideration to bring about effective cognitive solutions.

It’s akin to conducting a group of musicians – it might be possible (easy even!) to attain a pleasant sound from a solo instrument… 

But, if expertly managed,  you could accomplish a symphony from the entire orchestra! 

This week, our podcast series will guide you through the five steps required to conduct a dazzling cognitive symphony. 

On Day 2 of the series, Anna Madarasz, Analytics & Cognitive Lead , IBM Global Procurement discusses how procurement pros are using taxonomy today, assesses homegrown taxonomy versus industry standards and explains why an effective taxonomy needs to be flexible, multidimensional and situation based.

What is taxonomy?

Marco Romano, Procurement Chief Analytics Officer, Global Procurement, Transformation Technology, IBM defines taxonomy in his white paper, as follows “Simply put, taxonomy is a hierarchical representation of data, products and services into logical groupings through the application of an alphanumeric scheme of sorts.

“Sometimes, these are industry standards and sometimes, they are locally-devised schemes to meet individual needs. These conventions are useful for purposes of reporting spend or segregating categories into lower-level components.

“However, the world in which we operate is not hierarchical; it is more like a network of many disparate parts of an ecosystem that is constantly interacting and evolving, and that it needs to be intertwined together to drive value

“for a taxonomy to be effective, and to feed a cognitive engine, the taxonomy actually needs to be multidimensional, flexible, and situation based.”

What does this mean?

1. Flexible

“There’s a level of flexibility you have to have, and usually if you do have a homegrown taxonomy, then it is there by nature” explains Anna.

Problems can arise within organisations when there is no global standard and different regions adopt different practices. “Let’s say one of your geographies breaks down their software license spend into accounting software or project management software. Whilst another geography chooses to break down their software spend into whether that software license is delivered electronically or non-electronically.”

Of course, you can’t take much global insight from this. So it is important to enforce some level of standard taxonomy. “But, depending on the industry, depending on the geography, you have to allow a little bit of flexibility.”

2. Multidimensional

There are many dimensions of taxonomy. And, multidimensional means that you really have to define what you need that taxonomy for.  Sometimes it will be sufficient to have your homegrown taxonomy, other times it might be preferable to have an industry standard such as UNSPSC. If, for example, you want to monitor the price trend of a certain product, then you will definitely need an OEM part number.”

“Multidimensional means that you really have to define what you need that taxonomy for.”

An OEM part number, for example, clearly defines a certain product or a certain service. If you have a notebook in front of you, and you type the OEM part number into a browser, your search will return exactly the same notebook.

You might however,  want to go down to the component level and ask what characterises that notebook?

“Is it the screen size, it is the memory, and so on, and so on? If you want to look for a comparable product in your catalog then  you need ontology.”

“If your business challenge is to note which supplier is providing a certain model of notebook cheaper then it won’t be enough for you to have an eight-digit UNSPSC code defining the notebook.”

3. Situations-based

In his white paper Marco states “It is not about how you buy, but rather what you buy. I would argue that an appropriate taxonomy is about identifying how you resolve a business problem through products or services.”

“Try to use taxonomy for future transactions. Trying to predict what your prices will be, trying to evaluate whether the quotations, whether the bill of material in front of you is competitive enough. Or use it for risk evaluation. There are endless opportunities, but it really all depends on setting up the proper categories.”

“What you should keep in your mind” advises Anna “is that you have to come up with a powerful combination of these taxonomy characteristics.”

Striving to conduct a cognitive symphony but in need of some expert guidance? Our podcast series runs throughout this week and will have your orchestrating cognitive success in no time! Register here. 

Is Your Procurement Data Fit For Purpose?

How do you know when your data is fit for purpose? Start by putting the why before the what!

There are many factors that require careful consideration to bring about effective cognitive solutions.

It’s akin to conducting a group of musicians – it might be possible (easy even!) to attain a pleasant sound from a solo instrument… 

But, if expertly managed,  you could accomplish a symphony from the entire orchestra! 

This week, our podcast series will guide you through the five steps required to conduct a dazzling cognitive symphony. 

On Day 1 of the series, Marco Romano – Procurement Chief Analytics Officer, Global Procurement, Transformation Technology, IBM, talks about the development of data strategy, how to determine if a data source is fit for purpose and understanding the data that you want to see.

“To me the cognitive and analytic strategy really starts with the data strategy” explains Marco, “how we acquire, enrich, store and curate our data. Then it really becomes about what you do to that data to bring business value and actionable insights.

“I’d argue anything’s possible quite honestly, limited only by our imagination and one very important point, which is the quality and quantity of the data that’s available to us.”

The orchestra analogy

So where did the orchestra analogy come from?

“When you sit there at the start of a performance invariably you’re hearing these individual members tuning their instruments – warming up.

“It’s very melodic and you really get to hear the class of the instrument and the performer. But it’s really when the conductor walks on stage and all of those instruments are played together in harmony, that’s when it really becomes incredible.

That’s when the goosebumps come in and you hear the power of the sound.”

So how does this translate into data and insights? “One good piece of data is absolutely valuable and can really help you make better business decisions” says Marco. “But like an orchestra, a collection of this transformed data, properly orchestrated to provide these varied and powerful insights at the right time and in the right format for the intended audience really gives you that competitive advantage and operational efficiency.”

“You really need everyone playing from the same sheet of music, or the same hymn sheet!”

Putting the why before the what!

If the foundation to cognitive strategy is the acquisition of data, what kind of data should we be seeking to acquire? It’s easy to think about it in a one dimensional way, only considering one or two sources of data. But in reality data is coming from multiple sources. So where should we be looking for it?

“I think before you even answer the question of what data is it that you need, you really need to address the question of why you need it” explains Marco.

“What is the business outcome that you’re trying to drive? What is it that you want to achieve by acquiring this data? Then I think you can start to determine what data you need, and how you go about acquiring it and enriching it.

“I’ve seen an awful lot of effort go into acquiring data that never results in a business action. Not because it was bad data but it was just not fit for purpose. I think the importance here is that it is fit for purpose at the time that it’s needed and of course for the intended recipient.”

How do you know when your data is fit for purpose?

What are some of the things that you do to determine if a data source or a potential data source is fit for purpose, before you go down the road of actually trying to acquire and cleanse and build it into your models?

Marco firmly believes that you have to start with establishing what the intended outcome is that you want.

Secondly, “there is a point, which we of course have to consider, and that’s ROI. We can’t afford to throw manual resources off to fully invested activities. Some data is extremely difficult to come by, or extremely difficult to get to the level of quality that we need.

“I think you need to have a clear line of sight, of how these insights are going to allow you to change business course or alter business strategy and effect an outcome. Then you can start to also establish to what degree this data will help you achieve that?”

Ask yourself “how much impact is that data going to have, and in turn you can start to then make sensible decisions about ROI and the type of data that you need.”

Striving to conduct a cognitive symphony but in need of some expert guidance? Our podcast series starts today! Register here.

How To Conduct A Cognitive Symphony

If cognitive technology is not normally your forte, let us be of assistance. In one week we’ll have you conducting a cognitive symphony! 

There are many factors that require careful consideration to bring about effective, scalable and sustainable analytics and cognitive solutions.

Intelligence is the conversion and enrichment of data into meaningful business insights.

It’s akin to conducting a group of musicians – it might be easy to get a pleasant sound from a solo instrument but, if expertly managed, you can avoid falling flat and accomplish a symphony from the entire orchestra!

Conducting a Cognitive Symphony

From the 26th February let Procurious and IBM guide you through the five steps required to conduct a dazzling cognitive symphony as we present a new five-part podcast series. 

Day One: Building Your Orchestra

Procurement process and acquisition of data need to evolve to meet data needs. How should procurement teams embark on their knowledge journey to Cognitive and analytics transformation?

Day Two: Orchestrating Your Melody

It is not sufficient to know that you are buying software or how you are buying software; you need to know what software you are buying. So how do you implement an effective taxonomy strategy?

Day Three: The Rehearsal Room

Automation is a buzzword of the moment and fast becoming a business necessity. How can procurement professionals achieve a happy balance and effectively implement transaction automation.

Day Four: Getting the brass on Board

How procurement leaders works with their teams to remove barriers will ultimately have a huge influence on the rate and pace of adoption of cognitive and analytics solutions.

Day Five: The Conductor

In a fast-paced and ever-changing environment, some instability and churn is inevitable, which is why all these data instruments need a decent conductor and a single data strategy.

Podcast Speakers

Marco Romano Procurement Chief Analytics Officer, Global Procurement, Transformation Technology, IBM

Marco applies more than 15 years of experience as a procurement practitioner and project manager to understand complex environments that separate the noise from real issues and determine near-term and strategic solutions in realising business value. He leads a team that has saved IBM Procurement a significant amount in third-party costs and efficiencies through analytics data solutions and innovative sourcing strategies over the past three years. His team is also developing commercial analytics and cognitive procurement offerings leveraging data and technology for IBM clients’ competitive advantage.

Anna Madarasz Analytics & Cognitive Lead IBM

Anna has 14 years of procurement experience, out of which 12 is in project leadership. She is a master at change management, and loves working in a complex, cross-functional environment. She is an expert at procurement taxonomy in support of increasing companies’ negotiation power. Anna is a certified Lean Six Sigma Black Belt.

Peter Hrabovski Analytics and Automation Lead, IBM Global Procurement

Peter is the leader of the Analytics and Automation organisation at IBM Global Procurement. He has a masters degree in economics, in the field of business and administration. He has more than 5 years of experience in managing the data analytics and robotics process automation teams in IBM procurement globally. Being a technology and data enthusiast his focus is on applying the latest technologies in solutions being developed. This enables procurement in delivering exceptional value to IBM and its clients.

How does the podcast series work?

This series will run for five days with a daily podcast released from 26th February.  Each morning, we will deliver the new podcast straight to your email inbox.

If you’re a little late signing up to the series, don’t panic! We’ll still be sure to send you all five podcasts so you can listen at your leisure.

How do I access the podcast series?

Simply register for the series via this link and you’re good to go!

From the 26th February we’ll deliver a podcast straight to your doorstep.*

*straight to your email inbox!

Are the podcasts available to everyone?

Anyone and everyone is welcome to sign up and it’s totally, 100 per cent free to do so- simply sign up here and we’ll handle the rest.

From 26th February, Procurious present a new five-part podcast series – Conducting a Cognitive Symphony – sponsored by IBM. Sign up here (it’s free!) to access the series. 

What’s Coming To Procurious in 2018

What’s around the corner in 2018…? There’s a whole host of exclusive procurement content and events for you to get your teeth stuck into!

The Procurious community, at 26,000+ members,  is growing faster and providing better networking opportunites than ever before.

To keep pace with our growing membership, we’ve planned out the most exciting year yet on Procurious. From our now-famous global Big Ideas Summit series; to procurement webinars; Career Boot Camp 2018 and this year’s Gen NEXT survey, we can guarantee there’s something for everyone.

So make yourself a cuppa, open up your online calendar and let’s get some dates in the diary!

#FeeltheLove Webinar

On the 14th February 2018 – 3pm GMT/ 10am EST – we present #FeeltheLove.

NEWSFLASH: Being world-class today doesn’t mean being the best in the world. It means helping the world run better.

In 2018, you should be working beyond cost savings and process efficiencies. You should be committed to making a positive impact on the communities in which you operate by eradicating slave labour, creating ethical and sustainable supply chains and levelling the playing field for all.

Thanks to the awesome power of social media and our interconnected world it’s easier than ever before to make that happen. But the challenge procurement pros still face is kick-starting, and measuring the impact of, their purpose-led work.

This Valentine’s Day, SAP Ariba and Procurious will present #FeeltheLove – the first Procure with Purpose webinar.

Sign up for #FeeltheLove here. 

Conducting a Cognitive Symphony – Podcast Series

From 26th February, Procurious present a new five-part podcast series – Conducting a Cogntivie Symphony – sponsored by IBM.

There are many factors that require careful consideration to bring about effective, scalable and sustainable analytics and cognitive solutions. Intelligence is the conversion and enrichment of data into meaningful business insights. It is a little like an orchestra: you can get good sound from one instrument, but correctly managed, you get a symphony from the entire orchestra.

Marco Romano Procurement Chief Analytics Officer, Global Procurement, Transformation Technology, IBM; Anna Madarasz Analytics & Cognitive Lead IBM Global Procurement and Peter Hrabovski Analytics and Automation Lead, IBM Global Procurement will guide you through the steps required to conduct a dazzling cognitive symphony!

Stay tuned for sign up details later this month.

Big Ideas Summits 2018

The Big Ideas Summit is the world’s first digitally-led procurement event. With a global reputation as the most innovative leadership event for the profession, Big Ideas 2018 once again promises to light up social media, spark vigorous discussions and crowd-source ideas for the future of the profession.

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.

2018 will once again see the Big Ideas Summit go global, with events in London, Sydney, Chicago and Munich.

Attendees and digital delegates will be joining a community of 26,000+ procurement professionals from 140+ countries to connect, learn, discuss and innovate together.

Big Ideas Summit London 2018 26th April 2018

This year, we’ve assembled some of the most energising and fascinating speakers: from IBM’s CPO to a Chicago-based Futurist and a former Las Vegas Poker Extraordinaire – it’s certainly one procurement event you won’t want to miss!

This year, our Big Thinkers will tackle:

  • Engineering Serendipity: Workplace of the Future
  • Understanding Risk, Reward and ROI
  • AI: How your human touch will win the day
  • Why Design Eats Discipline for Breakfast
  • Procure with Purpose: The power in your hands

We are also hosting:

  • Big Ideas Summit Chicago 2018 27th September
  • Big Ideas Summit Sydney 2018 30th October
  • Big Ideas Summit Munich 2018 29th November 

Find out more here  or email Olga Luscombe via [email protected] to request an invitation to London. 

London CPO Roundtables

Following our very successful Big Ideas Summits in London and Chicago, Procurious are hosting a series of London CPO roundtables. These provide a more intimate setting for our attendees to get to know their peers through working sessions and the chance to hear from some inspiring speakers.

Wednesday 7th February – Sponsored by Basware

At next week’s event we’ll be joined by Charlie Wigglesworth –Deputy CEO, Social Enterprise UK; Elizabeth Linder – Founder & CEO, The Conversational Century; Paul Clayton – Head of New Service Development, Basware and Jonathan Harvey – Global Head of Talent & Culture, Barclays PLC.

We will, of course, be reporting on the day’s dicussions for the Procurious blog but if you’re a CPO and would like to attend in person please contact Olga Luscombe via [email protected] to request an invitation

Interested in joining but can’t make it on the 7th? We’re also holding CPO roundtables on 30th May, 19 th September and 14th November –  email Olga Luscombe via [email protected] to request an invite.

Career Boot Camp 2018

Career Boot Camp  is a global professional development event for procurement and supply chain professionals. Each year the series, features five, fifteen-minute podcasts,  designed to help the most ambitious professionals put their career fitness first and upgrade their skill-sets.

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!

The 2018 series will kick off in September.

Stay tuned for more information and check out the full series  from 2017 here. 

Gen Next Survey 2018

When Procurious put out a call in 2017  for procurement survey participants, we were delighted that 500+ professionals across more than 50 countries shared their insights and wisdom.

The results revealed some fascinating information about the current climate in procurement and the attitudes of professionals working within the function.

We discovered that:

  • 55 per cent of procurement professionals either don’t hold memberships in professional associations or do not regard membership as benefiicial to their career development
  • Over half of those surveyed don’t trust their boss to be proactive about their career progression
  • 77 per cent of global procurement professionals have never crowd-sourced a solution to a business challenge on social media
  • 48 per cent of professionals intend to move on from their current role within two years

We’ll be launching the survey and Gen NEXT report again in 2018 and we want YOU to be involved. Stay tuned for more information and.

In the meantime email us to request your copy of the 2017 report – packed with data, insights, recommendations, and links to over 20+ Procurious articles that further explore many of the findings that are raised in the report.

Your Procurement Career Upgrade: Download Complete!

Career Boot Camp 2017: That’s a wrap! 5 global CPOs, 5 FREE procurement podcasts – available NOW! 

Career Boot Camp 2017 is done and dusted!  Sign up here (It’s FREE!) to access all five podcasts. 

Procurious promised we would upgrade your career.

We pledged that we would transform your procurement future.

We swore our five, global CPOs would prepare you for workplace 4.0.

But we never said it would be easy!

Last week, Procurious and Michael Page Procurement and Supply Chain presented Career Boot Camp 2017.  If you joined us, we hope you’re feeling inspired and motivated to make you procurement dreams come true! Now’s the time to take you career to hand; using the tips, guidance and insights provided by our podcast speakers, you’re equipped to take the procurement world by storm. It’s going to be a long journey but we’re right here with you, every step of the way!

Want to catch up on any missed episodes, recap on your favourites or get stuck in to heaps of related content? Look no further.

Over 5000 procurement pros took part in Career Boot Camp.  Were you one of them?

I couldn’t make it, can I still take part?

Want to learn how to “fail forward”, why you should be locking up your data scientists or the reason Co-op’s CPO won’t be showing you her cake recipe?  

Great news! You might be a little late to the party but that means you can access the whole series in one fell swoop. Whether you want to listen on the go, from your sofa or during your lunchbreak, in one day, one week, or one month, Career Boot Camp 2017 is ready and waiting for you to listen at your leisure!

Anyone and everyone is welcome to partake in Career Boot Camp and it’s totally, 100 per cent free.

How do I join?

If you’re already a member of Procurious simply head over to our eLearning area to access the full series of Career Boot Camp 2017.

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

What can I expect?

Career Boot Camp 2017 was designed to help you transform your career and your future if, and only if, you’re ready and willing to upgrade! Our five CPOs provided inside information on what it’s like to work at their organisation, what they’re looking for in new hires and how they see the function progessing in the coming years.

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.

Need a little more persuasion. Click below to listen exclusively to Day 1 of Career Boot Camp in FULL.

Ramsay Chu, Rio Tinto CPO, How to Fail Forward:

“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.”

Best of the Career Boot Camp Blog

Once you’ve had your fill of our five podcasts you might like to do a little wider reading. There’s heaps of great. related conten in our blog at the moment. Here are some of the highlights.

  • The Biggest Mistake Leaders Make On Their Way To The Top By Tania Seary, Founder Procurious – Procurement leaders, listen up! We hate to break it to you, but life’s not fair. And neither is your procurement career!
  • Personal Development: You Da Brand! By Matthew Friend, Associate Director Michael Page Procurement and Supply Chain – So you’ve decided you need to take your procurement career to hand by proactively managing your personal development? Here’s how to set yourself up for success.
  • 5 Global CPOs Answer Your Top Five Procurement Questions By Procurious HQ – How did the CPOs at Barclays, Vodafone, The Co-operative group, AstraZeneca and Rio Tinto fair when we put them to the test in a round of quick-fire questions?

Gain instant access to the full series of Career Boot Camp 2017 when you sign up to Procurious. 

Already a member of Procurious? You’re automatically enrolled for Career Boot Camp! Click here to listen now!

Barclays CPO: You’re In The Driver’s Seat, So Take The Wheel!

Don’t just come along for the procurement ride! If you want to make it big as a CPO, you’ve got to get in the driver’s seat and take the wheel!

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

What are today’s CPOs looking out for in the high performing procurement leaders of tomorrow?

Accepting change is good. But it’s even better if you can embrace it and drive it!

Barclays CPO, Al Williams, is certainly looking for more in his hires than a simple willingness to tolerate change. If you’re in the driver’s seat, you’ve got to take the wheel and drive the agenda!

On the fifth and final day of Career Boot Camp, Al 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!

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!

On Day 5 of Career Boot Camp we hear from Managing Director and CPO Barclays Al Williams.

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

Grabbing The Wheel

What attributes is Al Williams looking for in high performing procurement leaders?

“We’ve been building out a new leadership team in our procurement organization so I’ve had an opportunity to interview and select people, both with internal, internal within the organization and external. And some of the things I’m looking for, in addition to what I just talked about around innovation and problem solving and that kind of thing, is their ability and their willingness to embrace change. Not just manage it and tolerate it but they actually drive it, right?

“I want leaders who are in the driver’s seat, sort of pushing the agenda, and not just along for the ride, and certainly not those that feel like they’re victims and end up kind of victims as a part of a larger process. Deriving, embracing and driving change. I would also say a collaborative approach is very important and it’s collaborative in two dimension from both inside the organisations and outside the organization and in the market.

“It’s very important that we’re not the land of no, especially at a leadership level.  I think people want to be a part of an organisation like that, that’s a problem solving and collaborative team.”

What’s Procurement’s Position?

How should procurement functions position themselves within larger organisations? It’s a question that all senior procurement leaders are asking themselves. For Al, the answer is three-fold.

“One is we need to make sure that we’re positioning procurement as a strategic, value-adding player in the business, and not transactional. If we act transactional, and behave transactional that’s how the business will treat us, and that’s how we’ll be perceived by the business.

“Second is of course making sure that we align to the key business metrics or the key business outcomes that are important to the overall business strategy. And that would include things like financial metrics. That may be, if you’re a public company, [understand] what are the key things that are important to drive profitability and align determined outcomes to those. I would say the same thing from a risk perspective as well, aligning to the organisational risk tolerance, risk temperament and any metrics that are associated with that. So that’s an important positioning.”

And thirdly?

“Procurement used to be consultative, it needs to be in a position of influence, it needs to be helping the business, it needs to be sharing perspective, market knowledge, helping shape strategy, at least from a spin perspective for the business. When I talk about helping the business, a good example is policy compliance. We tend to have to be the communicator of, and sometimes the police of, certain policies in our businesses.

“I think it’s very important that procurement is positioned as ‘Hey, we’re here to help you be compliant to the policies and to help sort of maneuver you through the mirage of steps and checks that need to happen'”.

Listen to Al’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 Al’s podcast in full.

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.

The BIGGEST Mistake Leaders Make On Their Way To The Top

Procurement leaders, listen up! We hate to break it to you, but life’s not fair. And neither is your procurement career! 

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

How many times have you been told about someone’s promotion and thought “how did they get that job? I would have been great for that!” Rejected and demotivated, you head home, resolute to move companies. You pour a tall glass of wine and start polishing your resume.

I’ve worked with hundreds of CEOs, CFOs and CPOs. I’ve seen people rise to the top, sink hard and fast to the bottom and flounder somewhere in between – never quite gaining the momentum required to propel an upward trajectory on their career.

From my experience, the biggest mistake people make in their quest for the c-suite is believing that the promotion process is fair.

Life’s not fair, and neither is your career…

You can do all the right things but it doesn’t mean you are going to land yourself the next big job. Corporations are complex and corporate politics are tricky, which means you’ll never really see the full picture.

You might be a rock star employee who delivered on all your KPIs, participated in “extra curricular” activities, and can boast a strong and supportive network (you even know the CEO!) but it doesn’t mean you’ll be offered your dream role.

So why do highly qualified candidates miss out on the top roles? There are a million and one reasons and you may never know the real answer. Some of the reasons for rejection will be about you, others will be about the company.

Here’s a handful of reasons why you may be blindsided:

Things that are not about you

  1. A change in strategy direction (ie. they put in a marketing person because they want “customer focus” or an IT person because they want a “technology focus”)
  2. The leadership team has changed and you are perceived as being part of the “old regime”
  3. They want to find a leadership role for another high potential employee and this is the best opportunity at that time
  4. There is a bias in the selection process. Even though companies are becoming increasingly aware of unconscious bias, it still may exist. Thirty years ago my husband participated in a leadership conference for 23 participants, 21 of whom were first-born sons, 1 female and 1 other male…which was my husband! Alternatively there may be a conscious bias to improve the diversity of the leadership team.

Things that are about you

  1. You’re not perceived as having the right level of experience (whether you do or not is irrelevant)
  2. You’re not promoting yourself enough. This doesn’t necessarily require an elaborate self-promotion campaign.It can also simply mean delivering on the basics. For example, one CFO told me he went into his internal HR system and some candidates didn’t even have their CV up to date, or a photo on fil That will make it unlikely for you to be selected. If you only do ONE thing as a result of reading this….PLEASE update your in-house profile!
  3. You’ve upset someone along the line. In hindsight, the inappropriate comment at an important executive meeting or the impromptu performance at the Christmas party may have been a career-limiting move. I actually know someone who slid down the boardroom table at a Friday night drinks, which may (or may not) have been forgotten, except that his belt buckle engraved a huge scratch from one end to the other – which was all too apparent to the Directors on Monday morning.
  4. Of course, the obvious: you just aren’t qualifi­­­­ed for the role!

It’s a long way to the top

As the famous ACDC lyrics go, “it’s a long way to the top if you want to rock ‘n’ roll” – tenacity is key. Wait patiently, which is not my strong suit, ­­­ for “your time”.

There is a direct correlation between how quickly you bounce back from a career disappointment and how quickly you get promoted. If you’re going to thrive, you need to take a long-term view on your career and build up your career resiliency.

I’ve seen this time and time again. One of my favourite examples was a mentor of mine who was at one point in a heated competition with one of her peers for the CPO role. Unfortunately she missed out, but quickly changed her perspective, becoming the trusted 2IC to her former peer, now boss.

Within twelve months she was headhunted to become the CPO of an even larger organisation! And guess who one of her biggest fans was? Yep!The very same person she had been competing with just a year ago; former peer and now boss,the CPO. How circumstances change!

Remember your career is not a sprint, it’s a marathon. You need to build career resiliency. In the long run, your endurance will pay dividends and chances are, you’ll land the dream job when you least expect it.

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