Listen to us debate procurement trends with Jason Busch from SpendMatters
- 24 Sep 2021
Download and listen to this podcast where we debate some of the biggest challenges that’s ever faced the procurement profession, with expert Jason Busch, the founder and Managing Director of Azul Partners, and Daniel Ball, SVP Innovation at Medius.
COVID-19 has triggered an existential crisis across the globe. Besides the tragic human cost, the pandemic has crippled global supply chains, everywhere. From a shortage of shipping containers, to microchip scarcity, and rapidly rising inflation, procurement professionals find themselves thrust in the spotlight, where they’re no longer responsible for operational day-to-day tasks in organizations.
Instead, procurement finds itself an imperative part of many businesses, helping to quell supply shortages, forecast sales, and imbue stability in their organization.
Throughout the podcast, Daniel and Jason discuss details of the pandemic at length, often comparing it to past situations and extracting key insights and lessons for listeners. Here’s several extracts we’ve transcribed:
Busch on why Covid has put pressure on procurement:
“In terms of why things are moving in such a direction. There's just so much stuff happening right now in the world of procurement. Such as: Covid, office workers returning to work, inflation and commodity and supply shortages.
“It's an unprecedented time. Years ago, when I was a consultant, it was just about getting cost savings or cost reduction for procurement professionals. Now, it's about supply continuity, helping the business plan - it's a period that's totally new - and making sense of it can be difficult.”
Busch on China and trading blocs:
“But I do think we’re going to see more supply chain localization and supply chain postponement - the concept of more final assembly at the place goods are due to be shipped.
Possibly move back to that dreaded, dreaded, phrase procurement and supply chain managers - hate: safety stock. As in, we’ll pad inventory more, which’ll hurt working capital.
I do think we’re going to see a lot of decisions that have to be made there, that aren’t just dictated by FTSE 500 and Fortune 500 companies, but by nations [about China].”
Busch on why procurement professionals are sought after:
“Yeah, I mean one thing is procurement as a function - it’s a frigging great time to be in procurement! It used to be anomalous that a Tim Cook could move from CPO to CEO of Apple, a top five or top ten company in the world, in terms of revenue.
Now, if I were to put on my hat from a capital markets/investor perspective. I want people with a procurement background running my businesses.”
The podcast is packed with many more fascinating insights. At roughly 25 minutes long, you’ll find plenty of content to sink your teeth into, as you make your way through your favorite hot drink.
Download and listen to the whole of this fascinating podcast by clicking this link.
More finance and procurement resources
Our library of case studies, guides and much more are here to help you become a better spend management professionalView all our resources