LONDON and BOSTON, April 27, 2016 /PRNewswire/ -- Expected to handle cataclysmic events and act with extreme agility, today's procurement executives must be brave and bold. Indeed, courage is now the defining characteristic of successful procurement leaders, according to the influencers who spoke during Procurious.com's second annual Big Ideas Summit April 21, 2016. The unprecedented digital think-tank event connected presenters with Procurious' 14,000+ members, crowdsourcing everyone's big ideas for the future of the profession.
Sponsored by Coupa, The Hackett Group, IBM, and the Institute for Supply Management® (ISM®), the event sparked vigorous discussion on Procurious.com, the leading free online community for procurement/supply management professionals. Delegates watched live footage, and posted and tweeted under the #Bigideas2016 hashtag, reaching a potential audience of over one million individuals. Among the big ideas influencers shared:
Preparing for "Black Swans"
In a year racked by political and economic volatility, Nik Gowing, Visiting Professor, King's College, London, challenged delegates to prepare for new "black swans" (unknown cataclysmic events) that threaten their supply chains.
Barry Ward, Global Procurement Brand Manager, IBM, urged them to take advantage of Cognitive Procurement technologies to help predict and mitigate these crises, which otherwise affect their business.
Discarding Legacy RFPs
Coupa's Vice President of Strategy and Development Gabe Perez encouraged procurement leaders to adopt a model of supplier engagement that is open, inclusive, and value-based.
Perez specifically challenged them to discard their legacy RFP process for as-a-service vendors, and replace it with a Request for Value Process to focus on the outcome.
Agile, Agile, Agile
With intensifying competition and disruptive innovation exerting pressure on every enterprise, procurement must become more agile, said Christopher Sawchuk, Principal and Global Advisory Practice Leader, The Hackett Group. To make and implement decisions more quickly, respond rapidly to new priorities, and forecast/plan continuously, leaders must embrace a whole new service delivery model—transforming everything from their corporate culture to their technology.
Driving Social Outcomes
Procurement leaders' opportunity to do social good was another hot topic. Journalist Lucy Siegle, co-founder of The Green Carpet Challenge®, called attention to abuses in the fashion industry supply chain, and iconic brands who are tackling it.
Peter Holbook CBE, Chief Executive of Social Enterprise UK, discussed the transformational Buy Social Corporate Challenge, through which several major businesses will spend £1 billion with social enterprises by 2020.
Open and Connected
With the pervasive use of the Internet and social media, especially among the Millennial generation, leaders such as Tom Derry, CEO of ISM®, advocated a more open communications approach. Walking the talk, his organization recently made its comprehensive Mastery Model—a blueprint for lifetime success in supply management—freely accessible over the Internet.
"The procurement profession must share, share, and share online to build our collective muscle, amplify attention to our impact, and tackle our thorniest issues together," said Tania Seary, Founding Chairman of Procurious.
The global brainstorm continues on Procurious.com, where members can view more Big Ideas Videos and articles from the speakers, submit their own videos, tweet using #BigIdeas2016 @procurious_, ask follow-up questions on the Procurious Discussions Board, claim their Digital Goodie Bags, and invite friends to participate. Make your voice heard today by going to www.BigIdeasSummit.com.
Procurious is the world's first online business community dedicated to procurement and supply chain professionals. It's a hub to advance your career, develop your skills and expand your global professional network. With 14,000+ members across the globe, Procurious aims to empower procurement leaders to connect, collaborate and take a more innovative professional outlook. Think of Procurious as a professional network, news and knowledge hub, learning and career center, all in one place. Join now at www.procurious.com - it's free to register and participate.
Contact: Dawn Ringel, Warner Communications
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