082: How to Embrace SMB's to Access Supplier Driven Innovation w/ Tom Greco & Ed Edwards

082: How to Embrace SMB's to Access Supplier Driven Innovation w/ Tom Greco & Ed Edwards

As a Buyer, a key factor in my sourcing decisions was the size of the supplier. While it is arguably the greatest piece of marketing of all time, the fact that "nobody ever got fired for buying IBM" was often at the forefront of my mind.

I had a number of reasons for taking this approach – some real, some perceived. In today's Art of Procurement, I explore the reality of working with small and medium sized businesses with Tom Greco and Ed Edwards of THOMASNET.com.

First, Tom and Ed explain which of my fears were based on fact, and which were in my mind only. They then provide guidance on how I could have mitigated the risks that are present to take advantage of the benefits that working with small and medium sized businesses provides.

We then move to the other side of the table. How do small and medium sized businesses feel about working with larger procurement functions.

The answers surprised me. In essence, smaller companies fear working with larger organizations as much as I did with them.

So how can we break the cycle? In the final part of the discussion, Tom and Ed provide their insights into how we as procurement professionals can more effectively facilitate the use of smaller companies to benefit from the innovations – and often lower costs – that they can often provide.

For more information, visit: http://artofprocurement.com/smb

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880: The State of AI in Procurement: Who's Getting the ROI? W/ Nick Heinzmann

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"There's an absolute risk of procurement's role and scope being diminished by AI, unless we embrace new ways of working." - Nick Heinzmann, Head of Research, Zip According to new research from Zip, on...

24 Elo 33min

879: The AI Pilot Phase is Over: How to Move From AI Investment to Genuine Business Impact W/ Joseph Postiglione, Sr.

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"If you're not completely sure about what you want to try to achieve, how will you know you ever achieved it?" - Joseph Postiglione, Sr., Author, Protecting Expected Outcomes in the Age of AI AI inves...

17 Elo 28min

EP 13: Making Sense of the Procuretech Landscape: Practical Insights for CPOs W/ Samir Khushalani

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"The biggest risk today is not making the wrong AI decision. It is making no decision at all while everyone else is learning." Samir Khushalani, Senior Advisor, Art of Procurement Procurement leaders ...

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878: Building Procurement as a Strategic Growth Engine W/ Travis Hodge

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"Procurement's future is bright, when we continue to do it the right way for the right reasons." - Travis Hodge, Director of Enterprise Sourcing & Procurement at nVent Procurement is no longer just a ...

10 Elo 36min

877: Building Trust for Digital Supply Chain Success W/ Mohit Ahuja

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"Visibility is not the end goal. The end goal is how does that visibility enable me to make a quick decision." - Mohit Ahuja, Strategy & Transformation Leader, Caterpillar Business leaders can no long...

3 Elo 28min

EP 12: Provider of the Week: Una

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"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...

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