Art of Procurement

751: Extinction or Opportunity: What is Procurement’s Destiny? with Sebastien Bals


Listen Later

“No matter how strong or how solid your foundations might be, the environment in which we operate is changing at such a pace that if we do not evolve with it, we will become obsolete.” - Sebastien Bals, EVP, Chief Procurement Officer at Merck Group

As technology – AI in particular – continues to transform the way we work and live, the future of procurement hangs in the balance. 

In this episode, Philip Ideson and Sebastien Bals, EVP and Chief Procurement Officer at Merck Group, talk about the “two roads” facing procurement: one, defined by opportunity, innovation, and transformation, and the other marked by disruption, outdated roles and practices, and far more uncertainty. 

They confront the larger, existential questions that keep many procurement leaders up at night, while recognizing that procurement’s willingness to adapt and adjust could be the very skills that keep them from traveling down the path to extinction.

They also discuss:

  • Overcoming procurement’s inferiority complex and demonstrating value in new digital contexts
  • How procurement can keep and leverage that long-coveted “seat at the table” they now enjoy
  • Securing procurement’s future in an increasingly digitized, AI-powered world

Links:

  • Sebastian Bals on LinkedIn
  • Subscribe to This Week in Procurement
  • Subscribe to Art of Procurement on YouTube
...more
View all episodesView all episodes
Download on the App Store

Art of ProcurementBy Philip Ideson

  • 4.8
  • 4.8
  • 4.8
  • 4.8
  • 4.8

4.8

62 ratings


More shows like Art of Procurement

View all
Economist Podcasts by The Economist

Economist Podcasts

4,222 Listeners

Coaching for Leaders by Dave Stachowiak

Coaching for Leaders

1,466 Listeners

Negotiate Anything by Kwame Christian Esq., M.A.

Negotiate Anything

692 Listeners

Procurement Talk With David Byrne by David Byrne

Procurement Talk With David Byrne

5 Listeners

Inside the Strategy Room by McKinsey & Company

Inside the Strategy Room

165 Listeners

The Procurement Software Podcast by James Meads

The Procurement Software Podcast

6 Listeners

Procurement Legends by Procurement News and Insights for Digital Procurement Pros

Procurement Legends

15 Listeners

The Sourcing Hero by TheSourcingHero

The Sourcing Hero

4 Listeners

The Procurement Show by The Procurement Show

The Procurement Show

0 Listeners

ReThinking by TED

ReThinking

623 Listeners

Art of Supply by Kelly Barner, Art of Procurement

Art of Supply

18 Listeners

The Economics of Everyday Things by Freakonomics Network & Zachary Crockett

The Economics of Everyday Things

1,609 Listeners

Procurement Reimagined by Gatekeeper

Procurement Reimagined

3 Listeners

Unhedged by Financial Times & Pushkin Industries

Unhedged

162 Listeners

The Economics Show by Financial Times

The Economics Show

119 Listeners