329: Applying the Flywheel Effect to Procurement (Part 1)

329: Applying the Flywheel Effect to Procurement (Part 1)

At Art of Procurement, we believe that helping procurement teams effectively align their capabilities and outcomes with the goals of the businesses underpins the transformation of a team from transactional to strategic. In this podcast, we discuss a concept that is a big part of our Procurement, Inc approach and a core part of how we manage the Art of Procurement business itself: the flywheel.

Because this concept may be new to many of our listeners (it was new to us when we discovered it), we're going to cover the idea in two episodes. This week we provide the broader business context of the flywheel concept, and in part two (next week) we will contextualize the flywheel for procurement teams and discuss ways to put it into practice.

In this podcast, you will learn about the following from Art of Procurement Founder and Host Philip Ideson:

  • What is a flywheel and what value does it generate for a business?
  • The sub-elements of the flywheel concept and where you have likely seen one in action as an individual consumer (whether you received it or not)
  • Why it is the accumulation of smaller efforts, executed consistently, that is more important to success than one 'big bang' moment

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Episoder(918)

EP 12: Provider of the Week: Una

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 Jul 33min

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

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 Jul 41min

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

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 Jul 47min

EP 11: Provider of the Week: Valdera

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 Jul 24min

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

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 Jul 37min

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

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 Jul 39min

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

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 Jul 31min

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

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 Jun 28min

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