By Procurement News and Insights for Digital Procurement Pros
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The podcast currently has 77 episodes available.
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The conversation discusses process orchestration and intake orchestration in the context of procurement teams. Process orchestration is the idea of using a tool to help orchestrate and align processes to fit the way people work. Intake orchestration is a subset of process orchestration and focuses on managing the intake of requests from different teams and stakeholders.
The conversation highlights the importance of process orchestration for procurement teams, especially in enterprise organizations where there are multiple stakeholders, systems, and complexities. It also emphasizes the need to involve AI in the orchestration process to improve efficiency, compliance, and user experience.
In this conversation, Sagi and Daniel discuss the importance of AI and process orchestration in procurement and intake. They highlight the need for a personalized and AI-powered user experience, the integration and automation of processes, and the flexibility to customize and iterate on solutions.
Sagi emphasizes the value of an AI front door, which allows users to ask questions and receive guidance in plain language. They also discuss the benefits of no-code solutions and the ability to easily make changes and adapt to evolving needs. Overall, the conversation explores the key elements of successful process orchestration in procurement and intake.
Key Takeaways
Process orchestration helps align processes to fit the way people work Intake orchestration focuses on managing the intake of requests from different teams and stakeholders Process orchestration is particularly important for procurement teams in enterprise organizations AI can be leveraged in orchestration to improve efficiency, compliance, and user experience A personalized and AI-powered user experience is crucial in procurement and intake processes.
Integration and automation of processes are essential for efficiency and productivity. Flexibility and the ability to customize and iterate on solutions are important for adapting to changing needs. An AI front door, where users can ask questions and receive guidance, improves the user experience. No-code solutions enable easy customization and iteration on processes.
How you can help the Procurement Legends Podcast
Join 2800+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/
World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading
Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow
Download our Digital Assets here: https://worldofprocurement.gumroad.com
Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A
Hey Procurement Legend,
A different piece of Friday Deep Dive Content is here.
LinkedIn has become an invaluable tool in the modern professional landscape.
Man, that’s what so many articles about building a personal brand on LinkedIn say. But I’m going to give you a deep dive here and tell you all the ways to make the most of it.
If you’re a procurement pro in an employed role, a self-employed procurement consultant, or a person working for a procurement tech company, this is the article for you.
I’m revealing my deepest, darkest secrets here.
And guess what? You can also watch the video version if you learn better that way.
As always, this is for our World of Procurement Paid community members. I serve you first and foremost, and I want your procurement careers, in whatever you do, to flourish via a personal brand.
Why Should You Care About A Personal Brand
Whether you're a newcomer to the procurement field or a seasoned pro, LinkedIn can offer a wealth of opportunities to advance your career.
How?
People get to know you and what you stand for.
A personal brand refers to the way an individual presents themselves to the world, often in a professional context. It is becoming increasingly important in the digital age, particularly in niche fields, as it can help establish trust and credibility and differentiate oneself from competitors.
And we live in a competitive world.
Procurement roles will likely dwindle and morph. No longer will the traditionalist skill set be the key to a new role. You’ll have to show your expertise to the world and be poached to land the best roles.
With my background as a Procurement, Supply Chain, and Contract Management Subject Matter Expert and a following of 25k on LinkedIn, I've seen firsthand how this platform can become a game-changer. This article will guide you through key areas, including the platform's significance, profile optimisation, content strategy, and networking techniques.
Why LinkedIn Is The Best Platform for Procurement Professionals
Platform Popularity: According to statistics, LinkedIn boasts over 700 million users globally. This staggering number speaks volumes about its credibility and reach in the professional sphere.
Professional Focus: Unlike social platforms like Facebook or Instagram, LinkedIn is designed exclusively for professional interactions. This makes it an ideal place for serious networking and career development. People are up for talking about matters. I have a theory that LinkedIn brings together the most passionate people in the World of Procurement to talk shop. This can be hard to find in your day role as you’re busy working, and many in procurement have fallen into the profession and lack that passion.
Content Creation Gap: Believe it or not, only about 1% of LinkedIn users are regularly creating content. This leaves a massive gap and opportunity for you to make your voice heard, especially in the niche procurement space. I’d say this content gap is wider when it comes to procurement, and there is an incredible opportunity for your content to stand out even in the early days.
Job Opportunities: A whopping 97% of recruiters reportedly use LinkedIn as a hiring resource. Being on a recruiter's radar can be an enormous advantage in a competitive field like procurement. But more than that is the additional opportunities that come when you become known for your expertise. Direct approaches become the norm, not worrying about your CV or having to apply for roles, and the inbound leads if you’re operating as a business are all worthwhile.
Caveat: This can take time. And the approach you take has to be spot on. So, let’ 's break this down.
Quick Question:
How many of you have secured job opportunities or professional connections through LinkedIn? Feel free to drop a comment.
How you can help the Procurement Legends Video Podcast
Join 2600+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/
World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading
Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow
Download our Digital Assets here: https://worldofprocurement.gumroad.com
Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A
How you can help the Procurement Legends Video Podcast
Join 2400+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/
Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading
Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow
Download our Digital Assets here: https://worldofprocurement.gumroad.com
Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A
World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
How you can help the Procurement Legends Video Podcast
Join 2400+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/
Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading
Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow
Download our Digital Assets here: https://worldofprocurement.gumroad.com
Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A
World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Hey Procurement Legend,
This week we are talking about going digital in procurement and why you don’t need to deploy procurement tech to be do digital procurement.
World of Procurement is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
How you can help the Procurement Legends Video Podcast
Join 2400+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/
Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading
Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow
Download our Digital Assets here: https://worldofprocurement.gumroad.com
Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A
Hey Procurement Legend, this week we’ve got a breakdown of some significant points from Dr. Elouise Epstein’s new book, How to hack your supply chain.
Before you listen, make sure you buy this book. It should be a must-read book for every procurement pro who cares to remain in procurement as tech & AI increasingly cover procurement tasks.
How you can help the Procurement Legends Video Podcast
Join 2200+ Procurement Pros in our Community here: https://worldofprocurement.substack.com/
Check out our go-to learning resources for Procurement Pros: https://worldofprocurement.substack.com/p/the-ultimate-procurement-reading
Subscribe to our YouTube Channel: https://www.youtube.com/channel/UCQKMRtL4Li9sFvLi-ixo1Ow
Download our Digital Assets here: https://worldofprocurement.gumroad.com
Take our Contract Management for Beginners Course: https://www.udemy.com/course/contract-management-for-beginners/?referralCode=F658394D58FA7DD0515A
Sign up to the World of Procurement Newsletter and Community here: https://worldofprocurement.substack.com?sd=pf
As procurement professionals, it's our responsibility to protect against cyber threats, particularly concerning the procurement of goods and services from suppliers. So, let's take a look at how we can do that.
Let's face it - many Procurement Teams lag in this space.
This was one area that I really wanted to go specialise in when I was studying for my Master's Degree = which was cyber and insurance law.-this is one area that I wanted to look at what insurance laws and how do insurers, and I mean like good underwriters, not your, like your basic Avivas, but your car insurance deal with the cyber threats that are coming from, like what can they do?
And this was back in, like, 2013-14; this is what I was trying to pitch my PhD on, like, I thought I was guaranteed to get funding (based on what my sponsor told me). And it didn't come through, and I was really sad. But this meant I didn't spend the next 3-4 years studying and teaching and instead, I got into the World of Procurement.
But I would like to undertake a PhD at some point.
They said it wasn't relevant, but it is relevant now, in 2023, I'm telling you. And that's not even just from a legal perspective; from a procurement perspective, it is super important.
A study by the Center for Strategic and International Studies (CSIS) found that cyber-attacks cost the global economy an estimated $600 billion annually. This highlights the significant impact cyber-attacks can have on businesses and organisations.
A survey by the Chartered Institute of Procurement and Supply (CIPS) found that 80% of procurement professionals believe cybersecurity is essential in their procurement decisions. This demonstrates the widespread recognition of the importance of cybersecurity in procurement.
A study by the National Institute of Standards and Technology (NIST) found that organisations that implemented effective cybersecurity controls experienced a 70% reduction in the likelihood of a cyber attack. This shows the effectiveness of cybersecurity controls in reducing the risk of cyber attacks.
So, how can procurement support cybersecurity efforts? One way is by implementing cybersecurity standards for suppliers, conducting due diligence on suppliers' cybersecurity practices, and requiring suppliers to sign confidentiality agreements. By doing so, we can ensure that we are procuring from suppliers with strong cybersecurity practices.
As the world continues to become increasingly digital, the importance of cybersecurity has never been greater. For procurement professionals, this means taking extra steps to ensure that the goods and services they procure from suppliers are protected from cyber threats. So, how can procurement support cybersecurity efforts?
One way is by implementing cybersecurity standards for suppliers. This ensures that suppliers have strong cybersecurity practices and can protect their goods and services.
Procurement professionals can also conduct due diligence on suppliers' cybersecurity practices and require suppliers to sign confidentiality agreements. By doing so, procurement can ensure that their suppliers are taking all necessary steps to protect the goods and services they provide.
Ultimately, procurement professionals need to have a strong understanding of cybersecurity risks and be able to implement effective controls and safeguards. By implementing cybersecurity standards for suppliers and conducting due diligence on their cybersecurity practices, procurement can help support cybersecurity efforts.
In summary, cybersecurity is an increasingly important consideration in procurement. As procurement professionals, it's our responsibility to protect against cyber threats, particularly concerning the procurement of goods and services from suppliers. By implementing adequate cybersecurity controls and working with suppliers to ensure strong cybersecurity practices, we can reduce the risk of cyber-attacks and protect our organisations.
TL;DR
Procurement professionals must take extra steps to ensure that the goods and services they procure from suppliers are protected from cyber threats. This includes implementing cybersecurity standards for suppliers, conducting due diligence on suppliers' cybersecurity practices, and requiring suppliers to sign confidentiality agreements. By doing so, we can reduce the risk of cyber-attacks and protect our organisations.
Sign up for World of Procurement here - https://open.substack.com/pub/worldofprocurement?r=22icp0&utm_medium=ios
You need to become a Digital Procurement Pro in 2023 to have a Meaningful Career in Procurement
The digital age has changed how we do business, and Procurement is no exception.
To stay competitive and remain successful, you need to stay ahead of the curve by understanding and mastering the latest digital procurement tools and processes.
💡 You might not lose your role to tech and AI in Procurement. But I can guarantee you will lose it to someone who can harness this technology better than you.
This year, be brave and find a digitally native Procurement role. We’re no longer Procurement Professionals.
We are Digital Procurement Professionals.
Don’t hold back your career.
The podcast currently has 77 episodes available.
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