Source Code

Source Code Season 2 is coming. Source Code is a podcast for procurement and supply chain professionals, hosted by Spencer Penn, CEO of LightSource. Each episode is a candid conversation with a procurement leader about direct materials sourcing, supplier relationships, technology and AI, and what it takes to lead in the function. Season 2 premieres November 19. Subscribe so you don’t miss an episode.

Source Code Season 2 is coming. Source Code is a podcast for procurement and supply chain professionals, hosted by Spencer Penn, CEO of LightSource. Each episode is a candid conversation with a procurement leader about direct materials sourcing, supplier relationships, technology and AI, and what it takes to lead in the function. Season 2 premieres November 19.

In this episode, we sit down with Jim Niles, a supply chain and procurement executive with leadership experience across major companies and private equity. Jim shares how he found his way into procurement and why the function can create major value for a business. He explains why private equity firms increasingly look to procurement to improve EBITDA, how teams can uncover cost-saving opportunities, and why procurement should be viewed as a profit center rather than simply a cost center.

The conversation also explores what separates high-performing procurement teams from the rest. Jim discusses why companies need better ways to measure real savings, why finance should help validate procurement results, and why procurement professionals deserve stronger incentives when they create meaningful value. He also explains how better processes, technology, and AI can reduce repetitive work and give procurement teams more time to think strategically.

Jim also shares his perspective on the future of manufacturing and global supply chains, including the growing competition between the United States and China. He discusses what America should focus on manufacturing, how regulation and changing government policies affect long-term business decisions, and why innovation remains critical. The conversation closes with why companies need to invest more in procurement talent and why great procurement professionals should be seen not simply as buyers, but as entrepreneurs who manage strategy, suppliers, negotiations, and value creation.

Key Topics:

-Why procurement creates major value in private equity
-How procurement can directly improve EBITDA and margins
-Why companies should treat procurement as a profit center
-Why procurement teams need better tools, training, and incentives
-How AI can make procurement professionals more strategic
-Why great procurement professionals are entrepreneurs, not just buyers

Timestamps:

02:20 How Jim Niles Found His Way Into Procurement
03:23 The Weirdest Thing Jim Ever Had to Source
05:24 Why Private Equity Cares So Much About Procurement
06:20 How Procurement Can Quickly Add EBITDA
07:28 How Private Equity Finds Procurement Opportunities Before an Acquisition
10:14 When Procurement Should Become a Priority After an Acquisition
13:43 Jim's Playbook for Finding Major Cost Savings
16:17 The Biggest Pushback Procurement Leaders Hear
21:30 Why Procurement Professionals Should Be Rewarded Like Sales Teams
25:51 How Companies Should Measure Real Procurement Savings
33:31 How AI Will Change the Future of Procurement
36:37 Can American Manufacturing Keep Up With China?
42:26 What America Should Actually Be Manufacturing
50:15 Why Procurement Should Be Treated as a Profit Center
52:09 Why Great Procurement Professionals Are Really Entrepreneurs

Connect with - Jim Nelles:
LinkedIn - linkedin.com/in/jim-nelles-7b8a7310


Connect to Lightsource.ai:
LinkedIn - ⁠  / lightsource-ai  
Website: https://lightsource.ai/

In this special episode, the tables are turned as Spencer Penn, CEO of LightSource and usually the one asking the questions, takes the guest seat with Aaron McMillan, Editor of Procurement Magazine. Together, they look back at what AI actually changed in procurement over the past year and what could be coming next in 2026.

Spencer shares his bold prediction that 50% of white-collar jobs could be automated within the next three years, which roles are most at risk, and why people who learn how to work with AI could have a major advantage. They also dig into the difference between generative and agentic AI, why many AI products still fail to live up to the hype, and why companies should stop chasing AI just to say they have it and start with the business problem they actually need to solve.

The conversation also explores why a team of 100 could soon compete with a team of 10,000, why direct materials have been overlooked for decades, and what companies need to do to move beyond endless AI pilots and into real implementation. Spencer closes with his biggest predictions for what comes next, including how AI could reshape the size of companies, the way we work, and what it may take to build the first one-person billion-dollar company.

Key Topics:

-Why 50% of White-Collar Jobs Could Be Automated
-Why AI Won’t Take Your Job but Someone Using It Might
-The Big Mistake Companies Are Making With AI
-How a Team of 100 Can Compete With 10,000
-Why Direct Materials Has Been Ignored for Decades
-How Procurement Teams Can Move Beyond AI Pilots
-What 2026 Could Really Look Like for AI and Procurement


Timestamps:

02:32 Looking Back at AI’s Impact on Procurement
04:39 Will AI Replace Your Job or Make You Better at It?
07:44 Why 50% of White-Collar Jobs Could Be Automated
11:33 The People Who Know AI Will Have the Advantage
17:03 What Waymo Can Teach Us About AI Adoption
19:47 AI Won’t Take Your Job, but Someone Using It Might
20:08 Generative AI vs Agentic AI
22:01 How to Tell if an “AI-Native” Company Is the Real Deal
25:53 The Big Mistake Companies Are Making With AI
29:43 Stop Starting With AI. Start With the Problem
34:24 How a Team of 100 Can Compete With 10,000
37:15 Why Direct Materials Has Been Ignored for Decades
40:40 Why Big Companies Keep Buying AI Startups
47:26 What 2026 Has in Store for AI and Procurement
50:48 How Procurement Teams Can Move Beyond AI Pilots
57:24 The Most Shocking AI Prediction for 2026
57:46 Could We See a One-Person Billion-Dollar Company?
59:21 Building an AI Procurement Tool From Scratch

Connect with Aaron McMillan:
LinkedIn -  linkedin.com/in/aaron-mcmillan-192bb6301

Connect to Lightsource.ai:
LinkedIn - / lightsource-ai
Website: https://lightsource.ai/

In this episode, we sit down with Chris Chandler, founder and managing partner of the Creovia Group, to explore how procurement creates value inside companies and private equity portfolios. Drawing from his experience across General Motors, Kellogg’s, Dr Pepper Snapple, MoneyGram, and the private equity world, Chris shares why strong procurement goes far beyond negotiating prices. He explains why speed matters in private equity, how procurement can directly improve margins, and why the best teams know when to follow a process and when to move quickly.

The conversation also dives into the role of technology, process, and policy in making procurement savings actually stick. Chris explains why companies can negotiate great agreements but still fail to capture the value if employees are not guided toward them. He also discusses the role of GPOs, the growing demand for procurement leaders in private equity, and why procurement professionals need to get out from behind their screens to truly understand the business.

Chris also shares his approach to supplier relationships and negotiation, including why trying to beat a supplier into the lowest possible price can work against you. He explains why transparency, credibility, respect, and understanding what the other side needs can lead to stronger deals and long-term partnerships.

Key Topics:

-Why procurement creates so much value in private equity
-How speed can make or break procurement results
-Why procurement professionals need to get out from behind the screen
-How technology and process turn cost savings into real results
-Why GPOs should be used strategically instead of for everything
-How to work with procurement leaders without creating resistance
-Why great negotiation is about more than getting the lowest price
-How transparency, credibility, and respect lead to better deals

Timestamps:

00:59 How Chris Built a Career in Supply Chain and Procurement
06:22 Where Young Procurement Professionals Should Start
08:32 Why Procurement Process Should Never Exist Just for the Sake of Process
10:53 The Biggest Difference Between Private Equity and Corporate Procurement
12:32 How Procurement Creates Value in Private Equity
14:36 Why Procurement Savings Can Be More Powerful Than Revenue Growth
18:22 Why Great Procurement Professionals Can't Just Sit Behind a Screen
20:34 How to Work With Procurement Leaders in Portfolio Companies
25:15 How to Make Procurement Leaders Look Like Superheroes
28:15 Why Cost Savings Mean Nothing Without the Right Process and Technology
33:31 When GPOs Make Sense for Indirect Procurement
38:41 Why Great Negotiation Isn't About Beating Up Suppliers
39:26 The Best Procurement Deal Chris Ever Negotiated
42:07 The Three Things Every Great Negotiation Needs
43:20 The Negotiation Question Most People Forget to Ask
46:55 The Weirdest Thing Chris Ever Had to Source

Connect with - Chris Chandler:
LinkedIn - linkedin.com/in/cmchandler


Connect to Lightsource.ai:
LinkedIn - ⁠  / lightsource-ai  
Website: https://lightsource.ai/

In this episode, we sit down with Doug Johnson, former VP of Global Supply Chain at Emerson, to explore the lessons he learned from more than three decades leading global supply chain and procurement teams. Doug shares how an unexpected career path led him to the top, why great leaders spend more time listening than talking, and how the right culture and people matter more than compensation. He also explains why procurement should never focus on cost alone, but instead align every decision with what the business and the customer truly need.

The conversation also explores how global sourcing has evolved, what it takes to build strong supplier relationships, and why speed, quality, and customer value often matter more than securing the lowest price. Doug shares practical leadership lessons from building teams across the world, encouraging healthy disagreement, and creating an environment where people are empowered to make better decisions.

Doug also discusses the growing role of AI in procurement and supply chain, including why many companies struggle to adopt it successfully. He explains why clean, structured data is the foundation for any successful AI strategy, why technology should solve real business problems instead of chasing trends, and how better forecasting could become one of AI's biggest opportunities for the future of the supply chain.


Key Topics:

-Why Cost Should Never Be Procurement's Top Priority
-The Leadership Trait That Separates Great Managers From Average Ones
-The Biggest Mistakes Companies Still Make With AI
-Why Clean Data Matters More Than the Latest AI Tools
-The Supply Chain Forecasting Problem AI Still Can't Solve
-How Great Leaders Build Teams That Challenge Their Ideas


Timestamps:

01:20 How Doug Accidentally Built a 34-Year Career at Emerson
03:48 The Real Reason Doug Almost Left the Company
05:29 The Leadership Lesson That Changed Doug's Career
07:46 How Emerson Built Its Supply Chain in China
08:41 What Most Companies Get Wrong About Supplier Quality
11:22 Why Cost Shouldn't Always Come First
14:10 Why Speed Beats Cost in Supply Chain
15:18 How Procurement Can Drive Business Growth
17:59 The Supplier Doug Thought Would Never Succeed
21:30 What Remote Work Is Still Missing
25:24 Why Most AI Solutions Fail in Large Companies
27:45 The Biggest AI Mistake Companies Still Make
31:43 The Supply Chain Problem AI Still Can't Solve
34:04 The Forecasting Challenge Every Business Faces
39:27 Why Great Leaders Don't Force Agreement

Connect with - Doug Johnson:
LinkedIn - linkedin.com/in/supplychainleadership

Connect to Lightsource.ai:
LinkedIn - ⁠  / lightsource-ai  
Website: https://lightsource.ai/

In this episode, we sit down with Victoria Folbigg, CEO of Folbigg Consulting and co-founder of the AI Procurement Academy, to explore how artificial intelligence is changing the future of procurement. Drawing from decades of leadership at companies including Procter & Gamble, Barclays, and SAP Ariba, Victoria shares why the biggest opportunity isn't simply adopting AI, but understanding where it creates real value. She explains why procurement teams need to stop chasing AI for the sake of it and instead focus on solving the right business problems.

The conversation dives into the practical side of AI adoption, from choosing the right tools and avoiding common mistakes to understanding hallucinations, data privacy, and the growing impact of regulations like the EU AI Act. Victoria also shares how procurement professionals can use AI to improve research, contract analysis, supplier management, and decision-making without losing the human judgment that still matters most.

Victoria also discusses why the future of procurement will look very different from today. She explains why behavioral science, psychology, and hyper-personalization will become just as important as commercial skills, how AI will reshape procurement roles instead of simply replacing them, and why the leaders who thrive will be those who combine technology with a deep understanding of people.


Key Topics:

-Why procurement needs a smarter approach to AI
-How the AI Procurement Academy was built from scratch
-The biggest AI mistakes procurement teams still make
-Why solving business problems matters more than chasing AI
-How AI can transform contract analysis and supplier decisions
-What the EU AI Act means for procurement leaders
-Why hyper-personalization is the future of procurement
-How behavioral science will shape the next generation of CPOs

Timestamps:

01:05 How Victoria Accidentally Built a Career in Procurement
03:16 Why Procter & Gamble Was the Perfect Place to Start
05:04 What Made P&G's Procurement Team Different
08:49 How Procurement Worked Before the Internet
10:22 The Packaging Lesson Every Brand Should Understand
12:24 Why Victoria Co-Founded an AI Procurement Academy
15:17 The Biggest Problem With AI Training Today
17:17 How Procurement Professionals Should Actually Use AI
18:06 The AI Mistakes Most People Still Make
20:27 The AI Use Cases That Matter Most in Procurement
22:12 AI Skeptic or AI Believer Which Side Should You Be On
23:31 Why AI Should Never Be the Starting Point
26:01 How the EU AI Act Will Change Procurement
27:09 Why Victoria Isn't Blindly Following the AI Hype
28:28 The Right Way to Build AI Products
30:03 Why Procurement Should Focus on Outcomes Not Solutions
31:22 The AI Opportunity Hidden in Contract Management
32:51 Why Hyper Personalization Is Procurement's Future
35:50 Where AI Still Gets It Wrong
38:05 Why Clean Procurement Data Still Matters
39:06 Will AI Replace Procurement Jobs
40:38 The Skills Procurement Leaders Need Next
42:21 Why Behavioral Science Will Shape Procurement
43:42 How Future CPOs Should Build Their Teams
45:06 The Procurement Work AI Will Replace First

Connect with - Victoria Folbigg:
LinkedIn - linkedin.com/in/victoria-folbigg-19664b12


Connect to Lightsource.ai:
LinkedIn - ⁠  / lightsource-ai  
Website: https://lightsource.ai/

In this episode, we sit down with Shashi Mandapaty to explore a journey that goes far beyond procurement. After leading global procurement at one of the world's largest healthcare companies, Shashi is now helping build what could become the world's largest cancer biorepository in India. As a stage four cancer survivor himself, he shares how personal experience, business leadership, and healthcare innovation came together to shape a mission focused on improving cancer research and patient outcomes.

The conversation also looks at the unique cancer challenges facing India, why local research is essential, and how global collaboration can speed up medical breakthroughs. Shashi explains how procurement thinking can help build sustainable healthcare initiatives, why strong partnerships matter, and what it takes to turn an ambitious vision into reality. His story shows how leadership skills developed in business can create meaningful impact far beyond the corporate world.

Shashi also reflects on his career path from engineering to becoming Chief Procurement Officer at Johnson & Johnson, the lessons he learned while leading global teams, and the qualities that separate great procurement leaders from the rest. He shares why taking risks accelerated his career, why understanding the business matters more than simply managing suppliers, and why he believes a "plural career" can create both personal fulfillment and long-term impact.


Key Topics:

-How surviving stage four cancer inspired a new mission
-The vision behind the world's largest cancer biorepository
-Why cancer research in India needs a different approach
-How procurement leadership can drive healthcare innovation
-The career decisions that led to becoming a global CPO
-Why the best procurement leaders stay close to the business
-What it takes to build a meaningful career after the C-suite
-Why relationships and collaboration matter more than ever

Timestamps:

05:12 Why Cancer Outcomes Are So Different in India
07:51 The Preventable Cause Behind Millions of Cancer Cases
09:16 Why India Needs Its Own Cancer Research
12:01 The Cancer Resource That Could Change Global Research
13:14 Why Researchers Wait Years for the Right Samples
14:49 The Healthcare Model That Changed India
17:30 How Procurement Skills Can Save Lives
19:00 The Challenge of Funding Cancer Research
23:02 What Comes After Becoming a Chief Procurement Officer
25:13 Why Shashi Doesn't Believe in "Giving Back"
28:33 How an Engineer Became a Global Procurement Leader
33:43 The Question Every Future CPO Should Ask
35:17 The Career Risks That Changed Everything
36:30 The #1 Skill Every Procurement Leader Needs
42:14 What Separates Great Chief Procurement Officers
46:39 Why One Career Is No Longer Enough

Connect with - Shashi Mandapaty:
LinkedIn - linkedin.com/in/shashi-mandapaty-synapsys
Website: thesynapsys.vercel.app

Connect to Lightsource.ai:
LinkedIn - ⁠  / lightsource-ai  
Website: https://lightsource.ai/

Rick McDonald spent decades inside one of the most complex parts of business, the part most people only notice when something breaks. At Clorox, that break came in the form of a cyber attack that forced the company to operate without normal systems for months. Suddenly, procurement, payments, planning, manufacturing, and supplier communication became a test of trust, speed, and judgment.

His story is not just about surviving a crisis. It is about what years of supplier relationships can do when the playbook stops working. Rick explains why the company kept plants running, how business continuity plans helped but also exposed gaps, and why suppliers continued showing up even when payments were delayed. That kind of support does not happen by accident. It is built through years of consistent treatment and credibility.

This conversation also moves into the bigger shifts happening across supply chain, cybersecurity, AI, and sustainability. Rick shares why cyber risk now belongs to everyone in the company, why AI makes fraud more believable, and why the next generation of supply chain tools must prove value faster. He also digs into supplier visibility, sustainability claims, consumer behavior, refill packaging, and why some ideas fail not because they are bad, but because the timing or execution was not ready yet.

Key Topics:

-How Clorox operated during a months-long cyber disruption
-Why supplier relationships became critical when payments stalled
-What business continuity plans get right and where they break down
-Why cybersecurity cannot sit only with IT
-How AI is making impersonation and fraud harder to spot
-Why sustainability still struggles when cost becomes the deciding factor


Timestamps:

00:28 Knowing When It Was Time to Step Away
02:19 From Manufacturing Plants to Supply Chain Leadership
04:19 The Procurement Lesson Behind Kingsford Charcoal
05:23 When Supplier Trust Becomes the Real Safety Net
06:30 Building a War Room Without Systems Access
07:09 The Decision to Keep Plants Running
08:29 How Retailers and Suppliers Responded
09:18 Managing Supplier Payments During a Crisis
12:21 Why BCPs Must Be Tested Beyond Short Outages
13:45 What Strong Continuity Planning Actually Requires
16:11 Why Cyber Threats Are More Convincing Now
18:17 Cybersecurity Is No Longer Just an IT Problem
20:48 The AI Image Story That Felt Too Real
22:52 Advising the Next Wave of Supply Chain Startups
23:46 Why Speed to Value Matters in Software
26:41 The Procurement Tool Rick Wants to See Built
28:47 Why Deeper Supplier Visibility Is So Hard
30:14 The Cost Problem Behind Sustainability
34:54 What Burt’s Bees Shows About Customer Alignment
35:32 Why Refill Models Still Struggle With Shoppers
38:57 Lightweight Products and Smarter Packaging
40:27 Why Good Ideas Deserve Another Shot

Connect with - Rick McDonald
LinkedIn - linkedin.com/in/rickmcdonald82

Connect to Lightsource.ai
LinkedIn - ⁠  / lightsource-ai  
Website: https://lightsource.ai/

Jason Busch makes a strong case that procurement was never really about the auction. The auction was just the visible moment. What actually drove results was everything leading up to it and everything that followed, how clearly the requirements were defined, how well suppliers were prepared, and whether the business could turn a negotiated number into something real.

What makes Jason interesting in this conversation is that he did not come up through a typical procurement path. He started in history, moved out of academia, then built a career across consulting, research, analysis, and startups. That gives him a wider lens than most. He is not just talking about procurement as a function. He is talking about how the field has changed, what parts of it were overhyped, what parts actually created value, and where it may be headed next.

In this episode, Jason unpacks why reverse auctions were often misunderstood, why so many companies chased savings without building the process needed to realize them, and why specification quality still shapes the outcome more than most teams admit. He also gets into a deeper question that sits underneath the whole conversation: as AI improves, what part of procurement still needs human judgment? From RFQs and RFPs to direct versus indirect spend, and even the future of manufacturing and the automotive industry, this is a thoughtful conversation about where procurement creates real value and where it may need to reinvent itself.


Key Topics:

-Why the real work in procurement happens before and after the negotiation
-Why e-auctions failed in many companies despite showing savings
-How better specifications create stronger supplier outcomes
-How AI could reshape sourcing, supplier matching, and procurement workflows
-Whether procurement will still matter in an AI-driven future
-Why the future of the automotive industry may look completely different


Timestamps:

01:06 How a Failed Historian Ended Up in Procurement
08:14 The Political Shift That Proves We’re Living Through History
09:13 The Real Legacy of Reverse Auctions Was Never the Auction
12:18 Why E-Auctions Faded Even Though the Idea Was Powerful
13:19 The Mistake That Made Most Auctions Fail
15:22 Why Spec Alignment Is the First Step to Better Sourcing
18:20 Why Good Data Still Decides Everything in Procurement
20:00 Why RFPs Should Really Be About Supplier Potential
22:46 Is Cost Savings Still the Real Objective of Procurement
24:10 The Tesla Formula for Deciding What Weight Reduction Is Worth
27:41 Why Indirect and Direct Procurement Are Completely Different Games
30:34 Do We Even Need Procurement Anymore
33:01 Does the U.S. Even Have an Auto Industry 30 Years From Now
33:45 Why Autonomous Vehicles Could End Personal Car Ownership




Connect with Jason Busch:
LinkedIn - linkedin.com/in/jason-busch-96075


Connect to Lightsource.ai:
LinkedIn - ⁠https://www.linkedin.com/company/lightsource-ai
Website: https://lightsource.ai/