1) RFPs: Out: Fixed and signed the Scope of Work as a Prerequisite to start the sourcing process In: Give a problem statement to the Suppliers with expected outcomes, and let me propose solutions. 2) Evaluations: Out: Technical evaluations based on 50+ page documents submitted by each vendor. In: Live evaluations in collaborative workshops with vendors. 3) Award: Out: Based on Techno-Commercial scoring results In: Based on Proof of Concept demonstrations, Review of existing d

I just got done with my most extensive procurement stack development to date! It is an ensemble of 30+ agents (if I use a fancy word) or 30+specialized Python scripts/algorithms (choose whatever you like as a buzzword). These 30+ algorithms are use case specific. Here are my learnings (spanning 5 months of dedicated effort) 1.) Use cases that I targeted: finding out cost efficiencies in ongoing sourcing events, finding out demand bundling with future requirement intakes, and

Two aspects of Procurement teams of the future or Procurement Centre of Excellence setups of the future are emerging clearly. 1.) They are extremely specific and not generic Generic CoE setups end up as Reporting units. Your CoE resources will be busy churning our static dashboards, excel reports in pivots, and presentations for others. Lack of a specific niche or expertise is often substituted by Project management work.  Your CoE setup should have a.) Spend Analysis Experts

Here is my big, bold claim. Over the last few years, I have spent an enormous amount of time experimenting with data science, procurement operations, coding, and problem-solving in almost every aspect of strategic and tactical procurement operations. - The next popular digital procurement and procurement advisory will come from Procurement Excellence in-house.  - A solid Procurement Excellence team is category managers who can do data science (and not vice versa).  - Let us t