Nov 21 2024 31 mins
Procurement isn’t just about contracts and purchase orders anymore — it’s a strategic powerhouse that drives value across the business. In this episode, Rich Sains, Managing Consultant of Acada and Host of “The Procurement Conversation” podcast, talks to Sagi Eliyahu about transforming procurement from a tactical to a strategic function, touching on automation, AI and building stakeholder value.
Key Takeaways:
(01:20) Rich Sains recounts his career path from logistics to founding his own ProcureTech company.
(06:07) Procurement roles vary from transactional to strategic, with top teams focused on delivering business value.
(09:21) Procurement earns respect when seen as a strategic partner rather than a back-office function.
(13:09) Effective procurement prioritizes value-added activities over mere process optimization.
(18:03) Agile RFP processes, such as collaborative requirement gathering, better meet the needs of fast-paced businesses.
(22:47) Adopting product management principles can help procurement become a true strategic asset.
(24:48) AI’s potential in procurement is overhyped; data systemization is needed for true impact.
(29:05) Hard work and delivering stakeholder value are key to procurement’s effectiveness.
Resources Mentioned:
https://www.linkedin.com/in/rsains/?originalSubdomain=uk
Acada | LinkedIn -
https://www.linkedin.com/company/acadatech/
Acada | Website -
https://www.acadatech.com
The Procurement Conversation -
https://podcasts.apple.com/gb/podcast/the-procurement-conversation/id1623211171?i=1000666949109
This episode is brought to you by Tonkean.
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