“One of the markers of a leading procurement function is when you see suppliers as more than just a source of supply but also as a source of value and innovation.” - Samir Khushalani, Partner at McKinsey & Company

Procurement is in a unique position right now. They have to balance immediate priorities and meet the needs of the business today while also navigating new realities and an uncertain future shaped by generative AI, geopolitical turmoil, shifting macroeconomic pressures, and an increasingly volatile global supply chain. 

Procurement must reinvent themselves to find their footing in this rapidly changing environment, but they can’t stop generating value in the here and now. 

In this episode, Philip Ideson talks about the nature of all this change and how procurement should respond to it with Samir Khushalani, Partner at McKinsey & Company. Samir explores how perceptions about procurement have changed and the ways their reputation has shifted from “bargain hunter” to strategic business partner. 

But, there’s still significant opportunity for procurement to evolve and mature in response to all of the changes afoot. 

In this episode, Philip and Samir discuss:

• How the combination of post-COVID supply chain stabilization, geopolitical changes, and trends in generative AI requires us to rethink procurement operating models and skill sets
• Why being agile and flexible are critical for procurement’s ability to demonstrate their value and secure their future 
• Why innovative approaches to supply chain collaboration and relationship building will be just as valuable markers of procurement success as cost savings or risk management

Links:

• Samir Khushalani on LinkedIn
• Subscribe to This Week in Procurement
• Subscribe to Art of Procurement on YouTube