Procurement Talent, Tech, Outages, Shiny Job Titles
🤓🧠World of Procurement Weekly
Hey, Procurement Legends,
As a reminder, I’m incredibly bullish on managing the relationship between contracts and the vendor together, in one place, in one platform. That’s why I love what I do with my work at Gatekeeper.
It’s our philosophy about Vendor and Contract Management and why these need to be managed together.
Download the free eBook here: legends.
What I'm Reading
Where Procurement Is Going Next
The talent shortage is emphasizing the need for digital solutions as a potential answer. Companies have launched digital transformations but are concerned that they are not proceeding fast enough
What I'm Thinking (about Procurement)
The regulatory world that will require more oversight from Procurement teams and more connectivity with your risk/compliance colleagues.
There’s a number of areas that the majority of procurement teams will need to improve to deal with this:
Flow down contract clauses
Due Diligence of your vendors/suppliers
How you access your data - spreadsheets won’t cut it
Utilising data feeds of pre-vetted risk information at scale
One Procurement Tech-Focused Insight
I’ve recently been working on a new tech feature at Gatekeeper called Smart Forms. In short, this is what it does:
AUTOMATE SCORING OF VENDOR DUE DILIGENCE FORMS AND MINIMISE RISK EXPOSURE
I’m super excited by this feature as it makes reviewing due diligence (and a a raft of other risk profiling exercises) way easier, more informative, and let’s you monitor performance over time.
If you fancy checking it out please sign up for the session next Wednesday (even if you cannot make it live - I’ll email you a recording).
One Piece of Content I've Found Useful
In this section, I promote other amazing content from fellow Substack creators. Here’s my list for this week:
from with this piece. Make sure you follow his link through to the Atlantic piece too:
World of Procurement Content Recommendations
Check this out here - make sure you get one of these books.
ICYMI
Career Talk - Micro-management breaks your mental health. Don’t let it happen.
It’s 2020-2021. Covid has isolated much of the world. We’re all working from home unless we’re key workers. The world is bat-shit crazy right now. It’s a weird time to look back on. I’ve got an incredible number of positives from this period. I picked up old hobbies, spent incredible amounts of time with my family, and started to focus more on my physical health.
How you can Support World of Procurement Elsewhere
Take our Contract Management Course for Beginners
Digital Products (mostly free)
Thanks
Daniel