#4 Procurement GPTs will change your life

How OpenAI is breaking everything in tech positively

Nov 08, 2023

∙ Paid

Hey Procurement Legend, this issue is packed full of information. There is a free Procurement Career Designer and Tracker Notion template for our paid community that you can download via Gumroad WORTH £20. It’s at the bottom of this email. Just use the discount code on Gumroad, duplicate the template into your Notion, and watch the loom explainer.

I’d recommend everyone use Notion, and I find Notion AI to be a game changer in knowledge management.

What I'm Reading

Algorithms to Live By, by Brian Christian and Griffiths.

"Algorithms to Live By" explores the application of algorithms in everyday life. Optimal stopping helps us determine when to stop looking and make a decision, while the explore/exploit tradeoff helps us find a balance between trying new things and sticking to what we know. Thinking algorithmically can help us understand our abilities and mistakes. The book also discusses the secretary problem, where the optimal solution is to spend a predetermined amount of time exploring options and then commit to the first option that surpasses the previous ones. The 37% Rule suggests that we should spend 37% of the time exploring before deciding. However, the Threshold Rule suggests that we can immediately accept applicants above a certain percentile. In a full-information scenario, the chance of ending up with the best applicant increases to 58%. It has a bunch more that I’ve not yet covered, but I’ll share some insights with our paid community members in the future.

#ad - Amazon Affiliate

If you’re on the fence about joining the paid community, you can upgrade or sign-up with this button and enjoy a free trial for a test run. Equally, it’s only £5.99 a month, and it’s packed full of 10-20 hours of independent research and writing per week to help you become the very best in procurement.

What I'm Thinking (about Procurement)

Check out this video - I’m going all in on creating a Procurement and Contract-focused GPT. Let me know if you’d like to use this, and I’ll share it with you when it’s ready.

Watch the Open AI video too:

One Procurement Tech Focused Insight

I was reading The SaaS Trends Report last week, and it was filled to the brim of useful insights. My favourite was this:

“As buyers look to reduce costs, they’re scrutinizing line items and cutting seats. Sellers know that buyers are priorit
izing efficiency, which is why many are raising their prices in attempts to maintain ACV levels”.