Art of Procurement17 Heinä 2023

609: Bridging the Confidence Gap to Achieve the Best Business Outcomes w/ Baber Farooq

"To increase confidence within the C-suite, procurement must show it can work within the business to address internal risks and create value. Procurement teams need to meet their internal stakeholders where they are and break down the barriers that prevent them from achieving the best outcomes for the business."

The global procurement landscape is rapidly evolving to better align with the strategic vision and mission of the organization. Business leaders value the impact that procurement teams can have in their organizations, and they're especially pleased with procurement's ability to tackle external risk. However, confidence wanes when they consider procurement's ability to collaborate internally.

At SAP Sapphire 2023, Philip Ideson had the opportunity to speak with Baber Farooq, Senior Vice President and Head of Market Strategy for SAP Procurement Solutions. They discussed the findings of a new research study by Economist Impact: Decoding Confidence in the Procurement Function. The study surveyed 500 executives, including CFOs, COOs, CPOs, CSCOs, and CHROs in early 2023 and the resulting report explores how these executives perceive procurement's performance today and how it needs to evolve for the future.

During the conversation they discussed:

Key priorities and challenges facing the procurement function today and tomorrow, and what is needed to optimize results
How senior leaders view procurement's role in the enterprise
Ways procurement can prepare to meet challenges and trends such as supply chain disruption, rising costs, growing macroeconomic uncertainty, and increasing ESG expectations

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EP 12: Provider of the Week: Una

"It's amazing how you can rise to the top just by doing what you say you're going to do and being honest about what you can't do." - Anthony Clervi, Managing Partner, Una Procurement teams today are u...

29 Heinä 33min

876: AI with Purpose: Designing Procurement's Next Chapter W/ Gaël De Martelaere

"If you build AI on top of weak foundations, you're going to have a very broken system." - Gaël De Martelaere, Chief Procurement Officer, Hexion AI is driving enormous change in procurement, but succe...

27 Heinä 41min

875: How to Transform Every Procurement Partnership W/ Kate Vitasek

"When you have a great partnership, the value that you can create is unbelievable if you know how to do it." - Kate Vitasek Despite the best intentions, nearly 70% of business partnerships unravel wit...

20 Heinä 47min

EP 11: Provider of the Week: Valdera

Chemical procurement's complexity isn't news, but the pace of change – and risk – is climbing fast. With AI sweeping through every corner of the business, leaders charged with sourcing chemicals and r...

15 Heinä 24min

874: Building Resilience Beyond Tier One: Hard Truths About Risk and Visibility W/ Harald Nitschinger

"Resilience doesn't mean a supply chain that doesn't see risk. That's impossible. It means setting yourself up to withstand shocks and disruptions." - Harald Nitschinger, Co-founder and CEO, Prewave T...

13 Heinä 37min

873: Creating Capacity for Complex Problem Solving W/ Israel Santiesteban

"We need to evolve from procurement professionals into business leaders with procurement expertise." - Israel Santiesteban, Former Chief Procurement Officer and Head of Supply Chain The next evolution...

6 Heinä 39min

EP 10: Supplier Management as a Connected Discipline W/ Jesse Lee

"If your business is getting bigger, then supplier management is going to be ever more important to you." - Jesse Lee, Co-founder, CEO of Brooklyn Solutions Procurement's role in managing suppliers is...

1 Heinä 31min

872: Beyond Automation: Accelerating Agentic AI Transformation in Procurement W/ Vishal Patel

"The future of procurement isn't actually AI. It's people using AI to improve business outcomes and improve their own value add." - Vishal Patel, SVP Product & Customer Marketing at Ivalua Many procur...

29 Kesä 28min