Changes to World of Procurement
New Home, New Newsletter
Hey Procurement Legends,
I’ve moved World of Procurement to Substack. It’s a platform I’ve been bullish on for a few months now. I’ve moved all of the content from the website here. Substack is also the new host for the World of Procurement Podcast.
This means you can now subscribe to World of Procurement with a monthly/yearly subscription. I’ll still be posting free content, but some will be behind a paywall. I’ve been thinking over this for 6 months now, but here is what I plan to do with the subscriptions received:
Invest in new equipment for World of Procurement, such as camera equipment, to make better quality video content.
Hire researchers to help me sift through the sheer volume of content to create more credible content.
Fund the World of Procurement Tech Stack, which currently costs around £200-300 per month to create content.
You can subscribe below for the price of a coffee each month.
Back to our normal Newsletter
ChatGPT for Procurement Professionals
I’ve held off talking about ChatGPT because there’s been so much content. But I wanted to share some insights into where I’ve generated value from it.
Prompts:
Instead of asking ChatGPT to do something for you - ask it to become an expert.
For example, Act like a Procurement Expert, and create a Procurement Policy that requires all purchases over £5000 to go through Procurement. All Contracts must go through Legal above £20,000. Procurement can self-review supplier contracts below £19,999 if they use the Contract Playbook.
You can add style prompts to it and ask it to do it in the style of someone you like.
Please don’t use this as the final version, but it will likely give you a head start on creating this document. This is a solid reminder of AI - we use it to enhance all we do, and yes, it can do a lot for us. ChatGPT is just the beginning, and I’d urge you to become masters of generative AI tools.
Quote
“We don’t do PowerPoint (or any other slide-oriented) presentations at Amazon,” he wrote in a recent shareholder letter. “Instead, we write narratively structured six-page memos. We silently read one at the beginning of each meeting in a kind of study hall.”
Evaluate your internal meetings and see if there is a better way of working through them.
Except from Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson(As an Amazon Associate I earn from qualifying purchases)
As always, stay curious and always be learning, and thank you for all your incredible support so far.
Thanks - Daniel