Future of Sourcing - General Outsourcing http://futureofsourcing.com/topic/general-outsourcing en How AI & Digital Are Transforming Language Services http://futureofsourcing.com/how-ai-digital-are-transforming-language-services-0 <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/Jason%20Vs%20Offshoring%20Vs%20Onshoring%20%20Key%20Elements%20to%20Understand%20When%20Dealing%20With%20Outsourcing%20Services-3.png"><a href="http://futureofsourcing.com/sites/default/files/articles/Jason%20Vs%20Offshoring%20Vs%20Onshoring%20%20Key%20Elements%20to%20Understand%20When%20Dealing%20With%20Outsourcing%20Services-3.png" title="How AI &amp; Digital Are Transforming Language Services" class="colorbox" rel="gallery-node-2309-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Jason%20Vs%20Offshoring%20Vs%20Onshoring%20%20Key%20Elements%20to%20Understand%20When%20Dealing%20With%20Outsourcing%20Services-3.png?itok=XimYF9f7" width="624" height="325" alt="How AI &amp; Digital Are Transforming Language Services" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div style="font-size: 13.008px;">Sorenson, a leading language services provider, offers a variety of technology solutions and tools for people with diverse communication needs. These include call captioning, sign language and video services for Deaf and hard-of-hearing people, as well as language translation and interpreting services.&nbsp;</div> <div>&nbsp;</div> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><span style="font-size: 13.008px;">While traditionally focused on consumer markets, the company recognized that demand for its services was growing among enterprise customers. Large businesses, universities and government entities, for example, are increasingly focused on providing accessible and inclusive communication options. Captioning, transcription and video services, moreover, can play a role in post-pandemic workplace models designed to facilitate collaboration among employees in disparate locations.</span></div> <div>&nbsp;</div> <div>In addition to transitioning to an enterprise model, Sorenson aimed to extend its services to reach new geographies and populations. This would boost revenues, as well as advance the company&rsquo;s commitment to providing inclusive and accessible communication services to historically underserved communities. To achieve these objectives, Sorenson would need to transform the company&rsquo;s existing operational model to enable global reach, rapid response to customer requirements and scalability of scarce skill sets.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Scaling Access to Real-Time Captioning</strong></div> <div>&nbsp;</div> <div>Communication Access Real-Time Translation (CART) services transcribe words into text or captions as they are spoken during a classroom lecture, business meeting or public speech. For people who are Deaf or hard-of-hearing, who aren&rsquo;t fluent in English or who have auditory processing disorders, CART services are essential to enable understanding and participation, particularly in higher education. Moreover, CART provides written documentation of an event in real time, and, when combined with signing interpretation, can reinforce learning and information retention for Deaf people.</div> <div>&nbsp;</div> <div>Traditionally, CART services have required highly skilled stenographers who &ndash; in addition to being able to type up to 260 words per minute &ndash; were familiar with the arcane medical, legal or scientific terms being used in a university lecture. As a result, an organization&rsquo;s ability to provide CART services has often been limited by high costs and hard-to-find skill sets. &nbsp;</div> <div>&nbsp;</div> <div>That is changing, as Artificial Intelligence (AI) and speech recognition capabilities are advancing on several fronts. For one thing, Automated Speech Recognition (ASR) computer software is getting better at understanding accents, jargon and vocal inflections, as well as filtering out background noise. In addition, natural language processing models are deploying deep learning techniques to analyze word clusters and more accurately predict the words that a speaker will use. This is important, since &ndash; unlike readily available tools that can accurately transcribe audio recordings after analyzing the entire discussion &ndash; CART applications must conduct the contextual analysis on the fly.</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Human in the Loop</strong></div> <div>&nbsp;</div> <div>Despite this progress, AI-enabled automated tools on their own are still not capable of delivering CART services with the accuracy and understanding that many environments require. Sorenson&rsquo;s CART solution supplements AI-enabled ASR with human intervention, thereby leveraging the respective strengths and capabilities of intelligent tools and human knowledge. Specifically, ASR applies processing speed and contextual analysis to do the bulk of the transcription, while human agents address nuances, ensure the accuracy of technical terminology and correct errors.&nbsp;</div> <div>&nbsp;</div> <div>The practical impact of this machine/human interface is to significantly reduce the specialized training human captioning agents require, in terms of both stenography (typing speed) and subject matter expertise. &nbsp;As a result, CART services become dramatically more accessible, affordable and scalable. Easier access to CART services, meanwhile, can create new opportunities to improve communication and enhance inclusion for people with unique learning styles.</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>On-Demand ASL Interpretation&nbsp;</strong></div> <div>&nbsp;</div> <div>Seamless access to workplace, educational and social collaboration tools is another critical enabler of linguistic and communication inclusion. A Deaf person, for example, can effectively communicate via video conferencing with the support of an American Sign Language (ASL) interpreter. The trouble is, interpreters typically must be scheduled in advance, thereby limiting flexibility and utility.&nbsp;</div> <div>&nbsp;</div> <div>To address this obstacle, Sorenson recently introduced a first-of-its kind service that allows Deaf users to initiate or join Zoom calls and access an American Sign Language (ASL) interpreter on demand. In terms of workplace and human resources DEI strategies, this functionality has a huge impact for Deaf employees, as it supports inclusion in spur-of-the-moment meetings and facilitates ongoing collaboration with hearing colleagues. &nbsp;</div> <div>&nbsp;</div> <div>To enable on-demand interpreter scheduling on a wide scale, Sorenson developed a sophisticated Uber-type system that constantly monitors and matches the supply and skill sets of available interpreters against demand for services from Deaf users. The Sorenson platform continues to evolve through the use of AI to predict demand curves, identify potential trouble spots, offer work shifts and measure and monitor quality.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Cloud-Based Globalization</strong></div> <div>&nbsp;</div> <div>Expanding the scope and reach of Sorenson&rsquo;s services also necessitated a shift to a flexible and agile cloud-based delivery model &ndash; a shift that fundamentally redefined how the company deploys technology. Rather than ordering hardware, waiting for delivery and then sending a team onsite to install, Sorenson now uses code to spin up new infrastructure virtually. This greatly streamlines the implementation and integration of services in new geographies, ranging from isolated counties and communities to new global markets. In addition to providing the scalability needed to cost-effectively support growth, cloud-based delivery provides the flexibility to pivot rapidly should requirements change.</div> <div>&nbsp;</div> <div>Transitioning to cloud also improved quality of service by enabling deployment of advanced network compression technology. Because ASL involves hard-to-detect subtleties and nuances. Sorenson&rsquo;s customers rely on clarity and availability of both video and sound that only high-performing platforms can deliver, and that are hard to replicate with on-premise legacy infrastructure.&nbsp;</div> <div>&nbsp;</div> <div>Cloud migration was accompanied by a redesign of business processes to rationalize orders, billing and invoicing, along with consolidation of call center operations. These changes streamlined a recent expansion into the UK market and position the company to integrate new language services in the future.</div> <div>&nbsp;</div> <div>For more than 20 years, Sorenson has focused on delivering inclusive language and communication services to diverse communities. Innovation in digital technology is allowing the company to dramatically expand the scope and scale of that mission.</div> <div>&nbsp;</div> <div>&nbsp;</div> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/ai-digital" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">AI Digital</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="How AI &amp;amp; Digital Are Transforming Language Services - Future of Sourcing" addthis:url="http://futureofsourcing.com/how-ai-digital-are-transforming-language-services-0"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Wed, 26 Jul 2023 12:31:34 +0000 Jason Dunn 2309 at http://futureofsourcing.com http://futureofsourcing.com/how-ai-digital-are-transforming-language-services-0#comments Navigating the White Water of Change: Procurement’s Role in the New World Order http://futureofsourcing.com/navigating-the-white-water-of-change-procurement%E2%80%99s-role-in-the-new-world-order <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/LevaData.png"><a href="http://futureofsourcing.com/sites/default/files/articles/LevaData.png" title="Navigating the White Water of Change: Procurement’s Role in the New World Order" class="colorbox" rel="gallery-node-2304-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/LevaData.png?itok=WKj_jkbx" width="624" height="325" alt="Navigating the White Water of Change: Procurement’s Role in the New World Order" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div style="font-size: 13.008px;"> <div><em><strong>It&rsquo;s a White-Water World Where Procurement Can Shine</strong></em></div> <div>&nbsp;</div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div> <p><span style="font-size: 13.008px;">In&nbsp;</span><em style="font-size: 13.008px;">Design Unbound Vol I,</em><span style="font-size: 13.008px;">&nbsp;John Seely Brown coined the phrase &ldquo;navigating the white water&rdquo; to describe working through complexity with speed and agility. His analogy of a kayaker paddling through unknown waters works perfectly to describe organizations weathering our currently turbulent economy.</span></p> <p><span style="font-size: 13.008px;">As he says in his book, &ldquo;</span><em style="font-size: 13.008px;">Today, with the sheer number and scale of forces in play, the pace of change, and the connectedness that creates radically contingent relationships between things, a different analogy has emerged. The white-water kayaker does not have the luxury of time or contemplation, but moves through an environment of highly dynamic flows, deeply embedded in an environment where conditions and constraints change quickly and continually. Diverse forces generate different, often unexpected, conditions. New information enters the system from all directions, seen and unforeseen.&rdquo;</em></p> <p>Before the COVID-19 pandemic, manufacturers enjoyed a globalized, just-in-time supply chain that ensured efficient distribution of low-cost parts and products to every market. Even when disruptions occurred, supply chains usually recovered before the next shock. Now, with a recession looming amid persistent high inflation, extreme weather events, rising interest rates, international conflict, and talent shortages thrown into the mix, procurement leaders face unprecedented &ldquo;white water.&rdquo; The typical approaches used to solve past challenges continue failing amid the successive shocks happening now and those projected to continue for the next decade.</p> <p><strong style="font-size: 13.008px;">Cost Reduction vs. Cost Avoidance</strong></p> <p>In today&rsquo;s world, products are designed before engaging with procurement and sourcing teams on a crucial activity: supplier selection for the needed parts. Traditionally, there is little communication between product development and the procurement team. As production begins, procurement initiates some form of a cost reduction strategy. Most procurement teams today operate this way . . . not getting involved until after product design is completed and then focusing most of their resources on cost reductions after product launch. Unfortunately,&nbsp;<a href="https://www.linkedin.com/pulse/design-cost-perspective-ankan-kumar-baral/">70 to 80% of a product&rsquo;s cost is associated with the design process</a>. Therefore, procurement can only affect a small fraction of cost without going back to the design stage. Redesigns increase development costs and delay time to market. Furthermore, this lack of communication means procurement can&rsquo;t help with things like end-of-life issues, unexpected supply challenges, or material constraints until it&rsquo;s too late.</p> <p><span style="font-size: 13.008px;">Research conducted by LNS Research found that the average manufacturing organization&nbsp;</span><a href="https://blog.lnsresearch.com/npi-doldrums" style="font-size: 13.008px;">invests 25% of its personnel in new product introduction</a><span style="font-size: 13.008px;">&nbsp;(NPI) and introduces a new product to the market in an average of 24 months.&nbsp;Yet 44% of NPIs fail to meet all or even most success criteria. It turns out collaborating with the procurement and sourcing functions early in the product design phase can help.</span></p> <p>What if product development invited procurement staff to participate early in the design process &mdash; long before going to production &mdash; so they can collaborate on cost avoidance? Procurement teams engaged in the earliest design phases can help identify risks such as single source suppliers, suppliers that cannot meet quantity requirements, or suppliers with too many proprietary components. These supplier issues can be resolved before the design has been completed, saving redesign costs and potential product launch delays.</p> <p>Collaboration provides real, quantifiable value to the bottom line. For example, early procurement collaboration with the product development team can&nbsp;<a href="https://www.kearney.com/procurement/article/-/insights/the-power-of-procurement-to-shape-next-generation-products">reduce the costs of a product by up to 20%</a>. And according to a&nbsp;<a href="https://www.bain.com/insights/finding-the-x-factor-in-product-design/">Bain &amp; Company research study</a>&nbsp;on product design, cross-functional teams reduce costs by 38% more than single-function teams.</p> <p>By working together, sourcing managers and product designers can use their aggregate expertise to better specify substitute components, create part standards across multiple products to simplify production, and even diversify the supplier list by sourcing from multiple regions to minimize vulnerability to geographic disruptions. Because circularity and sustainability of a product starts at the design stage, collaboration between product design and procurement helps identify the most suitable components and materials.</p> <p>With early collaboration between the product development team, procurement, and suppliers, cost avoidance better manages product costs so little time needs to be spent on cost reductions after the product has launched. In fact, companies that involve suppliers early see on average a&nbsp;<a href="http://www.mim.ac.mw/books/Purchasing%20And%20Supply%20Chain%20Management%204th%20edition.pdf">20% reduction in material costs, a 20% improvement in material quality, and a 20% reduction in product development time</a>, compared to companies that do not involve suppliers early.&nbsp;</p> <p>Kearney conducted a&nbsp;<a href="https://www.kearney.com/procurement/article/-/insights/2022-assessment-of-excellence-in-procurement-study">survey</a>&nbsp;that strongly supports the case for positioning procurement more strategically in the organization. C-suite executives see the value, as 92% of CFOs think procurement has met or exceeded expectations for controlling costs in times of crisis. And even though 80% of the C-suite executives surveyed report that procurement has made strategically valuable contributions, only 31% believe procurement is proactively driving strategic agendas. What that means is the perception of procurement as a firefighting asset to be activated whenever there is a need remains unchanged. What is interesting, though, is that the leading companies in the global study embraced strong collaboration across procurement, the C-suite, the supply chain, and other business teams to create incredible value. Compared with their peers, these companies generated nearly two times more total shareholder return, contributed 200 basis points more to the core corporate profitability measure EBITDA from third-party spend, and rebounded three times stronger post-COVID-19.</p> <p><strong>Shifting Focus from Supplier Spend to Impact</strong></p> <p>Today, many traditional procurement teams focus on the suppliers that tie up the most spend, which follows the Pareto principle (focusing on the&nbsp;<a href="https://www.weforum.org/agenda/2022/10/supply-chain-resilience-manufacturing/">top 20% of suppliers that make up 80% of spend</a>). The problem with that arrangement is that in times of widespread supply constraint, any part shortage, no matter the cost of the part or the tier of the supplier, can delay manufacturing and keep a product from getting to the market. In other words, to build a more resilient supply chain, we must anticipate that even the most insignificant component can affect a product.</p> <p><span style="font-size: 13.008px;">Anticipating a shift in the balance between supply and demand and how it might impact revenue is a more strategic approach than simply focusing on spend. This is how procurement starts to reimagine its role in the organization. Strategic procurement can impart incredible top-line value to any organization.&nbsp;</span></p> <p>Consider the success of Apple under the leadership of Tim Cook&rsquo;s procurement-driven strategy. Before becoming the CEO of Apple, he was the chief operating officer and oversaw Apple&rsquo;s end-to-end supply chain. He ensured Apple&rsquo;s phenomenal growth by creating strategies to secure efficient supply to meet explosive demand. For example, he procured most of the touchscreen glass capacity for almost two years to keep it from competitors and give&nbsp;<a href="https://supplychaindigital.com/technology/tim-cook-supply-chain-guru-behind-apple-growth">Apple products a huge lead in the market</a>. His procurement strategy helped propel Apple to become the most valuable company in history.</p> <p><strong>Navigating White Water as the Balance Shifts between Supply and Demand</strong></p> <p>The sluggish growth of global economies as consumers decrease spending means the extreme supply constraints in many industries such as consumer electronics are now creating an oversupply situation. This shift will occur at different rates, but there is already a broad return to a balance between supply and demand.&nbsp;</p> <p>As the pendulum shifts toward oversupply, as is already happening in the memory industry, supply chain managers must quickly pivot to focus on finding the best price instead of worrying about component availability. Recently, in response to current market conditions and a large oversupply of inventory,&nbsp;<a href="https://investors.micron.com/news-releases/news-release-details/micron-announces-further-actions-address-market-conditions">Micron announced</a>&nbsp;that it will reduce DRAM and NAND wafer production by approximately 20% versus fiscal fourth quarter 2022.</p> <p>As geopolitical tensions between the United States and China rise, U.S. export controls on selling American chip-making technology to China are further impacting the entire chip industry&rsquo;s supply and demand balance. After all,&nbsp;<a href="https://www.cnn.com/2022/10/31/tech/us-sanctions-chips-china-xi-tech-ambitions-intl-hnk/index.html#:~:text=It%20is%20the%20world's%20largest,imports%2C%20according%20to%20government%20statistics.">computer chips make up China&rsquo;s largest import</a>, so this promises to put a huge dent in demand.</p> <p>Although some components, such as&nbsp;<a href="https://www.spglobal.com/mobility/en/research-analysis/automotive-semiconductor-lead-times-are-not-yet-improving.html">microcontrollers</a>, continue to exhibit longer lead times, all indications are that supply chain professionals will be chasing supply less and instead focusing again on how to get the best pricing. Each industry has its own dynamics, though.&nbsp;</p> <p><span style="font-size: 13.008px;">The oil and gas industry, for instance, is affected by continued&nbsp;</span><a href="https://www.wsj.com/articles/oil-prices-face-fresh-volatility-with-new-russia-sanctions-opec-decision-11669550024" style="font-size: 13.008px;">sanctions on Russia and OPEC</a><span style="font-size: 13.008px;">&nbsp;and the coronavirus outbreak in China hampering demand there. So there is fresh volatility and uncertainty. Ultimately, supply chain professionals regardless of industry must apply intelligence to all this complexity to quickly turn insights into action. That is how companies can navigate this white water and create value despite headwinds.&nbsp;</span></p> <p><strong>Building Resilience</strong></p> <p>Although important, resilience requires more than cross-functional collaboration. Chief procurement officers who think beyond operations management create strategies that also embrace digitalization. The ability to dynamically analyze huge volumes of data in real time provides better visibility into global logistics, costs, supplier operations, shipping status, and more.&nbsp;</p> <p><span style="font-size: 13.008px;">Augmented by artificial intelligence (AI), digital platforms can predict risk exposure on things like raw materials and commodities before disruptions happen. These tools can help determine how each part, whether constrained or bloating your inventory, might impact your organization&rsquo;s revenue. AI-powered platforms can help engineers assess supplier health and model how key components impact the cost structure of a product. Cost managers can generate should-cost estimates when negotiating with suppliers.</span></p> <p>Going back to the&nbsp;<a href="https://www.kearney.com/procurement/article/-/insights/2022-assessment-of-excellence-in-procurement-study">Kearney survey</a>, the leading consulting firm discovered something we inherently know -- that leading companies successfully use technology automation for everything from requisition management and spend analytics to sourcing and supplier information management. By doing this, their teams spent less time on tactical work and more time building and executing strategy.</p> <p><span style="font-size: 13.008px;">Collaboration is a key component of this broader vision, and so is technology. According to McKinsey,&nbsp;</span><a href="https://www.mckinsey.com/capabilities/operations/our-insights/inflation-fighter-and-value-creator-procurements-best-kept-secret" style="font-size: 13.008px;">90% of chief procurement officers consider digitalization critical to their success</a><span style="font-size: 13.008px;">. With the right digital tools and a model focused on cross-functional collaboration, procurement helps accelerate speed to market. Through collaboration and digital platforms, procurement can influence product launch and contribute to increased shareholder value. Then after product launch, procurement can work with product development and suppliers to find additional cost reductions and drive efficiencies.</span></p> <p><strong style="font-size: 13.008px;">Procurement in a New Light</strong></p> <p>In a white-water world, if an organization wants to lead or even continue to compete in a market, it can no longer afford to leave procurement out of product design. Procurement removes costs while helping drive important corporate financials by contributing to innovation and growth. In other words, procurement is an integral part of driving an organization&rsquo;s success and can be instrumental to providing significant benefit. But procurement leaders must start thinking differently about their role in the organization. They have a huge opportunity now to align with corporate goals and focus on innovation and growth. So as diverse forces generate different, often unexpected, conditions and new information enters the system from all directions, seen and unforeseen, can procurement leaders reimagine their roles?</p> <p>As they do, we&rsquo;ll see procurement evolve from transactional firefighter to a more strategically important role. That role is as a&nbsp;<a href="https://hbr.org/sponsored/2022/01/procurement-teams-are-moving-from-cost-cutters-to-growth-enablers-2">valued business partner and growth engine</a>&nbsp;who brings along some amazing digital tools.</p> <p>New market realities require transformational change, and never has there been a better time for procurement to step up to the challenge. In today&rsquo;s world, procurement leaders have access to software tools that drive collaboration widely across their organization, bringing with them powerful AI-powered technology platforms. Furthermore, forward-thinking organizations understand procurement has a more important role to play in the success of the business and are already making the requisite changes. These forward-thinking companies cannot afford to maintain business-as-usual operating models in a white-water world. Can you?</p> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Navigating the White Water of Change: Procurement&amp;rsquo;s Role in the New World Order - Future of Sourcing" addthis:url="http://futureofsourcing.com/navigating-the-white-water-of-change-procurement%E2%80%99s-role-in-the-new-world-order"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Tue, 06 Jun 2023 14:14:20 +0000 Keith Hartley 2304 at http://futureofsourcing.com http://futureofsourcing.com/navigating-the-white-water-of-change-procurement%E2%80%99s-role-in-the-new-world-order#comments How AI & Digital Are Transforming Language Services http://futureofsourcing.com/how-ai-digital-are-transforming-language-services <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/Jason%20Vs%20Offshoring%20Vs%20Onshoring%20%20Key%20Elements%20to%20Understand%20When%20Dealing%20With%20Outsourcing%20Services-3.png"><a href="http://futureofsourcing.com/sites/default/files/articles/Jason%20Vs%20Offshoring%20Vs%20Onshoring%20%20Key%20Elements%20to%20Understand%20When%20Dealing%20With%20Outsourcing%20Services-3.png" title="How AI &amp; Digital Are Transforming Language Services" class="colorbox" rel="gallery-node-2303-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/Jason%20Vs%20Offshoring%20Vs%20Onshoring%20%20Key%20Elements%20to%20Understand%20When%20Dealing%20With%20Outsourcing%20Services-3.png?itok=XimYF9f7" width="624" height="325" alt="How AI &amp; Digital Are Transforming Language Services" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div style="font-size: 13.008px;">Sorenson, a leading language services provider, offers a variety of technology solutions and tools for people with diverse communication needs. These include call captioning, sign language and video services for Deaf and hard-of-hearing people, as well as language translation and interpreting services.&nbsp;</div> <div>&nbsp;</div> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><span style="font-size: 13.008px;">While traditionally focused on consumer markets, the company recognized that demand for its services was growing among enterprise customers. Large businesses, universities and government entities, for example, are increasingly focused on providing accessible and inclusive communication options. Captioning, transcription and video services, moreover, can play a role in post-pandemic workplace models designed to facilitate collaboration among employees in disparate locations.</span></div> <div>&nbsp;</div> <div>In addition to transitioning to an enterprise model, Sorenson aimed to extend its services to reach new geographies and populations. This would boost revenues, as well as advance the company&rsquo;s commitment to providing inclusive and accessible communication services to historically underserved communities. To achieve these objectives, Sorenson would need to transform the company&rsquo;s existing operational model to enable global reach, rapid response to customer requirements and scalability of scarce skill sets.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Scaling Access to Real-Time Captioning</strong></div> <div>&nbsp;</div> <div>Communication Access Real-Time Translation (CART) services transcribe words into text or captions as they are spoken during a classroom lecture, business meeting or public speech. For people who are Deaf or hard-of-hearing, who aren&rsquo;t fluent in English or who have auditory processing disorders, CART services are essential to enable understanding and participation, particularly in higher education. Moreover, CART provides written documentation of an event in real time, and, when combined with signing interpretation, can reinforce learning and information retention for Deaf people.</div> <div>&nbsp;</div> <div>Traditionally, CART services have required highly skilled stenographers who &ndash; in addition to being able to type up to 260 words per minute &ndash; were familiar with the arcane medical, legal or scientific terms being used in a university lecture. As a result, an organization&rsquo;s ability to provide CART services has often been limited by high costs and hard-to-find skill sets. &nbsp;</div> <div>&nbsp;</div> <div>That is changing, as Artificial Intelligence (AI) and speech recognition capabilities are advancing on several fronts. For one thing, Automated Speech Recognition (ASR) computer software is getting better at understanding accents, jargon and vocal inflections, as well as filtering out background noise. In addition, natural language processing models are deploying deep learning techniques to analyze word clusters and more accurately predict the words that a speaker will use. This is important, since &ndash; unlike readily available tools that can accurately transcribe audio recordings after analyzing the entire discussion &ndash; CART applications must conduct the contextual analysis on the fly.</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Human in the Loop</strong></div> <div>&nbsp;</div> <div>Despite this progress, AI-enabled automated tools on their own are still not capable of delivering CART services with the accuracy and understanding that many environments require. Sorenson&rsquo;s CART solution supplements AI-enabled ASR with human intervention, thereby leveraging the respective strengths and capabilities of intelligent tools and human knowledge. Specifically, ASR applies processing speed and contextual analysis to do the bulk of the transcription, while human agents address nuances, ensure the accuracy of technical terminology and correct errors.&nbsp;</div> <div>&nbsp;</div> <div>The practical impact of this machine/human interface is to significantly reduce the specialized training human captioning agents require, in terms of both stenography (typing speed) and subject matter expertise. &nbsp;As a result, CART services become dramatically more accessible, affordable and scalable. Easier access to CART services, meanwhile, can create new opportunities to improve communication and enhance inclusion for people with unique learning styles.</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>On-Demand ASL Interpretation&nbsp;</strong></div> <div>&nbsp;</div> <div>Seamless access to workplace, educational and social collaboration tools is another critical enabler of linguistic and communication inclusion. A Deaf person, for example, can effectively communicate via video conferencing with the support of an American Sign Language (ASL) interpreter. The trouble is, interpreters typically must be scheduled in advance, thereby limiting flexibility and utility.&nbsp;</div> <div>&nbsp;</div> <div>To address this obstacle, Sorenson recently introduced a first-of-its kind service that allows Deaf users to initiate or join Zoom calls and access an American Sign Language (ASL) interpreter on demand. In terms of workplace and human resources DEI strategies, this functionality has a huge impact for Deaf employees, as it supports inclusion in spur-of-the-moment meetings and facilitates ongoing collaboration with hearing colleagues. &nbsp;</div> <div>&nbsp;</div> <div>To enable on-demand interpreter scheduling on a wide scale, Sorenson developed a sophisticated Uber-type system that constantly monitors and matches the supply and skill sets of available interpreters against demand for services from Deaf users. The Sorenson platform continues to evolve through the use of AI to predict demand curves, identify potential trouble spots, offer work shifts and measure and monitor quality.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Cloud-Based Globalization</strong></div> <div>&nbsp;</div> <div>Expanding the scope and reach of Sorenson&rsquo;s services also necessitated a shift to a flexible and agile cloud-based delivery model &ndash; a shift that fundamentally redefined how the company deploys technology. Rather than ordering hardware, waiting for delivery and then sending a team onsite to install, Sorenson now uses code to spin up new infrastructure virtually. This greatly streamlines the implementation and integration of services in new geographies, ranging from isolated counties and communities to new global markets. In addition to providing the scalability needed to cost-effectively support growth, cloud-based delivery provides the flexibility to pivot rapidly should requirements change.</div> <div>&nbsp;</div> <div>Transitioning to cloud also improved quality of service by enabling deployment of advanced network compression technology. Because ASL involves hard-to-detect subtleties and nuances. Sorenson&rsquo;s customers rely on clarity and availability of both video and sound that only high-performing platforms can deliver, and that are hard to replicate with on-premise legacy infrastructure.&nbsp;</div> <div>&nbsp;</div> <div>Cloud migration was accompanied by a redesign of business processes to rationalize orders, billing and invoicing, along with consolidation of call center operations. These changes streamlined a recent expansion into the UK market and position the company to integrate new language services in the future.</div> <div>&nbsp;</div> <div>For more than 20 years, Sorenson has focused on delivering inclusive language and communication services to diverse communities. Innovation in digital technology is allowing the company to dramatically expand the scope and scale of that mission.</div> <div>&nbsp;</div> <div>&nbsp;</div> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/ai-digital" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">AI Digital</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="How AI &amp;amp; Digital Are Transforming Language Services - Future of Sourcing" addthis:url="http://futureofsourcing.com/how-ai-digital-are-transforming-language-services"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Thu, 01 Jun 2023 14:14:05 +0000 Jason Dunn 2303 at http://futureofsourcing.com http://futureofsourcing.com/how-ai-digital-are-transforming-language-services#comments Finalist Interviews for Rising Star Awards: Wouter Passtoors, Moneyball CPH http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-wouter-passtoors-moneyball-cph <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg"><a href="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg" title="Finalist Interviews for Rising Star Awards: Wouter Passtoors, Moneyball CPH" class="colorbox" rel="gallery-node-2273-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_generic_0.jpg?itok=s8yj27nC" width="624" height="325" alt="Finalist Interviews for Rising Star Awards: Wouter Passtoors, Moneyball CPH" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div> <div><a href="https://www.linkedin.com/in/wouterpasstoors/" target="_blank">Wouter</a> obtained at Tilburg University a bachelor degree in Business Economics and a master degree in Supply Chain Management. He has over 5 years of experience in Procurement and digitalization, and is passionate about E-Sourcing, E-Auctions, and Sourcing Optimisation. As a Sourcing Optimization professional, he facilitates the evaluation and develops potential supplier allocation scenarios based upon a complex set of business constraints that often must be considered in the awarding of procurement contracts.&nbsp;</div> <div>&nbsp;</div> </div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><strong>How did you get into this field &ndash; was it purposeful or by accident?&nbsp;</strong></div> <div>It was for sure not purposeful, as I initially decided to obtain a bachelor degree in Business Economics at Tilburg University in order to become auditor eventually after graduating. That has been the plan ever since going to high school&hellip; until I figured during my studies and first internship at one of KPMG&rsquo;s technology advisory teams that rather started working at a big multinational company, instead of being an auditor/consultant supporting these type of organizations.&nbsp;&nbsp;</div> <div>&nbsp;</div> <div>With accountancy, auditing, and also external consultancy initially out of the picture, a conversation with my uncle, who had been working in Procurement and Supply Chain Management for the vast majority of his career, turned out to become a decisive moment for my future career. We discussed how much I enjoyed my role as External Affairs for Study Association Asset | Account &amp; Finance where I had to maintain company relationships and ensure enough sales was realized by the means of recruitment activities or job vacancies posted on our career portal. It was my uncle that made me realize that if you enjoy conversations and pitches around sales, you better be on the purchasing side of the table &ndash; as you&rsquo;ll be the one that eventually takes the decision on where the money will be spend instead of trying very hard to convince the other party why buying your product or service is their best option.&nbsp;</div> <div>&nbsp;</div> <div>With this new ambition for my early career I started to obtain my first working experience in Procurement at Philips, while graduating for my master in Supply Chain Management.&nbsp;</div> <div>Then before graduating I already got approached by CRH to join the E-Sourcing Team within the Procurement Technology department. And by doing so I got the opportunity to combine the best of both worlds from my first working experiences as I continued to work in the exciting realm of Procurement, and yet got to support the internal organization in becoming more efficient and effective in their sourcing practices via the means expanding the adoption of E-Sourcing Technology. I quickly learned that rolling out digital tools must go hand in hand with a strategy and vision, as it turned out to be much more people-oriented than I initially thought.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>In what ways do you hope to influence or transform the industry?&nbsp;</strong></div> <div>I hope to simply inspire colleagues, suppliers, and industry peers that E-Sourcing can be applied in every category, every country, for any type of organization &ndash; and that when applied in a fair and transparent way it can be extremely beneficial to every party involved. I get a lot of joy out of training, supporting, and developing people around sourcing and digitalization. I do not believe that an individual can influence or transform an entire industry, but I am convinced that with the right long-term oriented mindset procurement teams and their organizations can thrive in the future. Over the last years when talking with industry peers it became clear to me that a lot is being said or written about Procurement and digitalization of the industry, but there is only a limited set of organizations that has truly embedded this in their procurement strategies and established a good organizational foundation for this. I hope that I can continue to learn and develop, but also that I can keep sharing my knowledge and expertise around the fascinating world of E-Sourcing with others. I feel like a lot of organization are only harvesting the low hanging fruit when it comes to adopting E-Sourcing technologies, and that there is a whole world to gain when it comes to effectively and more extensively applying tools, especially features such as Sourcing Optimization or E-Auctions.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Who are the mentors or role models who have guided you in your career?&nbsp;&nbsp;</strong></div> <div>That must be Niklas Klarnskou and Sébastien Gibelli. I met both at my CRH job interview during an assessment day back in 2017. Seb surprised me, as one the questions he asked during that interview was whether I played video games&hellip; Taken by surprise, and not really knowing what to answer, I simply stated that I loved it when I was younger but did not find enough time and joy to do this at a later age. The reason I was asked this weird question is something that still guides me (and our entire team) today, as the &ldquo;video gaming mentality&rdquo; is something that every team member lives by. In becoming better at video games, you must click every single button and try every potential alternative strategy, in order to find out how you can win the game and increase the chances of that by following the most effective tactics available. Learning digital tools is not that different from this, there&rsquo;s no better way to learn a system by simply trying out everything and being super curious on the impact of every feature of that particular technology. Trial and error will eventually result in understanding and skills. That video game question is one that today still triggers a laugh, but still is extremely valuable in our recruitment process in the search for new talent to join our team.&nbsp;</div> <div>&nbsp;</div> <div>Niklas has been the manager of the team ever since I joined CRH, and I have to say that he had a big impact on my development which helped me achieve initial successes in my career. His vision on the future of procurement, and how you strategically can apply digital tools to help organizations achieve incremental value, has been an inspiration throughout my entire time at CRH. I am precious of the experience I got, and thanks to his genuine interest in me as a person, I see him rather as a friend than a manager. This is something that I have valued a lot, and is something I seek to establish with my E-Sourcing team members.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>What is something you wish more people knew about the sourcing and procurement industry?&nbsp;</strong></div> <div>That the knowledge that sits in the truly skilled procurement team can be extended and realized beyond the procurement function. Procurement is placed in one of the most valuable areas within a business, as we get to engage with all kinds of stakeholders externally and internally in many different functions. Effective procurement managers can sometimes, easier than others, act as the spider in the corporate web for a lot of different topics as Procurement often is exposed to many different ideas from suppliers. I wish that many more businesses would tap into this knowledge potential and engage Procurement at an early stage in many more topics compared to what we see in general today.&nbsp;&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Looking ahead, what trends do you think will emerge in the sourcing and procurement space?&nbsp;</strong></div> <div>There&rsquo;s no way around sustainability that is on top of the priority list for many organizations worldwide. Working in the building materials industry myself, it&rsquo;s quickly noticed that some of the sustainability challenges that have to be overcome are extremely ambitious and sometimes could come across like mission impossible at a first glance.&nbsp;</div> <div>&nbsp;</div> <div>I think it is great that a company like CRH has the ambition to operate carbon neutral along the cement and concrete value chain by 2050, and have set an aggressive target for a 25% absolute reduction in group-wide Scope 1 and Scope 2 CO2 emissions by 2030 (on a 2020 baseline). It is encouraging to see how many businesses are stepping up their game in this battle against changing climate. The world may be behind today, but that does not mean we cannot win the race in the long run.&nbsp;&nbsp;</div> <div>&nbsp;</div> <div>In procurement we get to play a key role in this race. The only way to overcome these challenges is with the use of digital tools and the key here is superior data quality with business insights into current and proposed emission levels, not just for our own production and transportation but in every step along the value chain.&nbsp;</div> <div>&nbsp;</div> <div>Sourcing decisions will get more and more holistic over time, a good example is already on our tenders where we seek to lower the CO2 emission and incorporate this data as part of our scenario optimization as a key awarding criteria when awarding business.&nbsp;&nbsp;</div> <div>&nbsp;</div> <div>If not already applied today, supplying partners to many businesses will soon no longer be able to secure a contract without having a clear and structured approach towards decarbonization. I believe that technology like E-Sourcing will play a vital role in this development, as it can help the sourcing professional to identify the optimal allocation inside the awarding of a contract. The challenge with the increased need for technology, hereunder E-Sourcing tools, will be the requirement to upskill system operators. Procurement organizations will quickly face the dilemma of Make or Buy of these competencies. I foresee on the one hand companies heavily investing in tech-savvy internal supporting teams like in my own company, or in &ldquo;E-Sourcing-as-a-Service&rdquo;-like consulting partners for long-term oriented collaborations.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>What advice do you have for those who are considering a career in sourcing or procurement?&nbsp;</strong></div> <div>My best advice is to find a job in sourcing and/or procurement that enables you to work in the style that you prefer, individually or in a team, with enough room for improvement of your working area as well as yourself. Secondly, I recommend that you find the right manager, this is key to your success and further development. Try to look for the type of managers that show passion for what they do and show a genuine interest in you as a person. Difficult search but worth the effort.&nbsp;</div> <div>&nbsp;</div> <div>Another important piece of advice that I would like to share, which my manager told me, is especially valid at an early stage in your career. It will take you one year to learn the basics of your role, in the second year you will start to perform to the expected level, and in the third you can start developing yourself further, as you see the actual impact of your decisions made in the second year. Thus, when you are new in a position, please take the first 6 to 12 months as a minimum to get familiar with your role, your responsibilities, the common ways of working and identify who your stakeholders are. It is only after an initial period of getting familiar with these areas that you can start performing at an expected level. There is a whole working life in front of us, so better to take more time for the right decisions and career moves than to listen too quickly to tempting offers from the outside world.</div> <div>&nbsp;</div> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/awards" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Awards</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/strategy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategy</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Finalist Interviews for Rising Star Awards: Wouter Passtoors, Moneyball CPH - Future of Sourcing" addthis:url="http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-wouter-passtoors-moneyball-cph"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Tue, 07 Feb 2023 16:18:22 +0000 Future of Sourcing Awards 2273 at http://futureofsourcing.com http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-wouter-passtoors-moneyball-cph#comments Finalist Interviews for Sourcing Star Awards: David Bush, Simfoni http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-david-bush-simfoni <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg"><a href="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg" title="Finalist Interviews for Sourcing Star Awards: David Bush, Simfoni" class="colorbox" rel="gallery-node-2254-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_generic_0.jpg?itok=s8yj27nC" width="624" height="325" alt="Finalist Interviews for Sourcing Star Awards: David Bush, Simfoni" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div><strong>Finalist Interviews for Sourcing Star Awards: David Bush, Simfoni</strong></div> <div>&nbsp;</div> <div><em><strong>With nearly 30 years of experience in executive management, David Bush is a leading subject matter expert in the fields of procurement, enterprise contract management and supply management. As CEO of Spend Automation at Simfoni, Bush leads a team of experts helping businesses around the world streamline operations, reduce costs and transform their procurement processes. Bush previously served as Chief Revenue Officer of SpendHQ, and prior to that, he served as co-founder and CEO of IASTA, an industry-leading SaaS-based strategic sourcing and spend management solutions company.</strong></em></div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><strong>How did you get into this field. Was it purposeful or by accident? &nbsp;</strong></div> <div> <div> <div>Accidental! I had just exited my first company, named EcoSearch, which was an environmental mapping company. We had a SaaS (Software as a Service) solution in the mid-nineties, a decade before that term was even coined! I was sent information by a friend about FreeMarkets, the original architects of eSourcing, and their full-service model for reverse auctions. It was clunky and expensive, so we put together a team to build a better auction tool. &nbsp;That launched my career in procurement solutions with IASTA. &nbsp;The goal was to make a live auction when none existed, which we achieved and then built out the suite across all strategic sourcing functions over the following years. &nbsp;As we grew, we listened to customers and learned a great deal from them. It was then that I started to earn credibility in the procurement profession.&nbsp;</div> <div>&nbsp;</div> </div> <div>&nbsp;</div> </div> <div><strong>In what ways do you feel your professional contributions have influenced or transformed the industry?</strong></div> <div><span style="font-size: 13.008px;">ScoutRFP became well known as the &ldquo;easy to use&rdquo; sourcing app. However, before Scout, there was IASTA, and the founders of Scout used to call me The Sourcing OG. IASTA was founded in 2000 and the mission was to make eSourcing powerful and easy. To this day, 37 companies in the world still use that product, even though there hasn&rsquo;t been a line of code written on it since 2015. We totally revolutionized the way RFx technology worked with complex scoring and easy set up. Supplier adoption is critical to eSourcing and IASTA suppliers universally complimented the tool as being the best in the industry for submitting proposals.</span></div> <div>&nbsp;</div> <div><span style="font-size: 13.008px;">As mentioned before, I founded and authored the blog eSourcing Forum. This was originally suggested by Jason Busch of Spend Matters to help branding for IASTA. I launched the blog, which became the largest vendor (and second largest overall) procurement blog for many years. I wrote thousands of posts on many topics, and it helped me establish my personal brand as a thought leader in procurement.&nbsp;</span></div> <div>&nbsp;</div> <div> <div>I think what differentiates my contribution is that I generate a lot of value around jobs, networks, csat, etc. Hundreds of people have worked for me, many of whom are now in Executive Leadership positions. I am very proud of the legacy established by my leadership at various organizations and grateful I was given the opportunity to influence and shape the careers of so many current industry leaders. I believe my management style and enthusiasm for procurement was instrumental in developing talent from entry level to star performers who are in turn making their own contributions. My network of procurement executives has always been a source of pride for me, as the industry is unforgiving of underperformers, so it validates my work. &nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> </div> <div><strong>In your opinion, what are the biggest challenges facing the industry today and what should be done to solve them?&nbsp;</strong></div> <div> <div> <div>The acute and obvious one right now is supply chain continuity and inflation. I believe companies should focus their talent on minimizing these impacts and use outside vendors for assistance on less critical issues in indirect procurement categories.&nbsp;</div> <div>&nbsp;</div> <div> <div>At a macro level of procurement in general, the same issues still exist and always will. Lack of internal stakeholder collaboration, credibility, and strategic alignment to the business are constant challenges. Additionally, poor data, poor contract compliance or visibility, lack of spend under management and inadequate supplier relationship management contribute to the previous issues. These are all very solvable but require a true vision and strategic plan to address them. Technology is a key asset but must be deployed correctly and become part of the ethos of the organization.&nbsp;</div> <div>&nbsp;</div> </div> </div> <div>&nbsp;</div> </div> <div><strong>Looking at the whole of your career, what do you consider to be your greatest achievement? &nbsp;</strong></div> <div> <div>I built IASTA with no outside capital or external board, and it eventually grew to 100 employees. Our growth was exclusive to having the best products and value proposition. We built a culture of team engagement, dedication and outperformed most of our peers for years. We had over 150 clients around the world who bought our solution because they believed in the company and product, not the marketing. The customers were just as loyal as the employees and the energy around it was an amazing experience.&nbsp;</div> <div>&nbsp;</div> <div>During the years with IASTA, we experienced a natural decline due to scale and slow reaction times to growth issues. I launched a series of initiatives to diagnose and correct plateaus, which took about 2 years to complete. We came out of those strategies with a series of plans that led us back to sturdy growth and profitability&mdash;and being named the Top Employer in Indiana.&nbsp;</div> <div>&nbsp;</div> <div>Since then, I helped grow SpendHQ 300% during my tenure and am now focused on making Simfoni the undisputed leader in tail spend management. I am equally proud of these achievements. &nbsp;</div> </div> <div> <div>&nbsp;</div> </div> <div>&nbsp;</div> <div><strong>What three words do you feel your colleagues and peers would use to describe you?&nbsp;</strong></div> <div> <ol> <li> <div>Disruptive</div> </li> <li> <div>Integrity</div> </li> <li> <div>Leader&nbsp;</div> <div>&nbsp;</div> </li> </ol> <div>&nbsp;</div> <div>&nbsp;</div> </div> <div><strong>What advice do you have for those who are new to the profession or considering entering the industry?&nbsp;</strong></div> <div> <div>Be an honest and disruptive leader!</div> <div>&nbsp;</div> <div>Procurement can get isolated inside organizations. I would recommend any person starting in the field to do their homework (data driven is always the best foundation), be collaborative and listen, and then take the initiative to get results. Being genuine, trustworthy, and high energy is infectious and gets noticed. If you are in an organization that doesn&rsquo;t appreciate that, leave. Procurement can be exciting and make an enormous impact&mdash;do not settle for anything less.</div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/innovation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Innovation</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/strategy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategy</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Finalist Interviews for Sourcing Star Awards: David Bush, Simfoni - Future of Sourcing" addthis:url="http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-david-bush-simfoni"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Tue, 15 Nov 2022 21:50:14 +0000 Future of Sourcing Awards 2254 at http://futureofsourcing.com http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-david-bush-simfoni#comments Finalist Interviews for Sourcing Star Awards: Jerome Arfeli, UPS http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-jerome-arfeli-ups <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg"><a href="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg" title="Finalist Interviews for Sourcing Star Awards: Jerome Arfeli, UPS" class="colorbox" rel="gallery-node-2250-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_generic_0.jpg?itok=s8yj27nC" width="624" height="325" alt="Finalist Interviews for Sourcing Star Awards: Jerome Arfeli, UPS" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div><strong>Finalist Interviews for Sourcing Star Awards: <a href="https://www.linkedin.com/in/jerome-arfeli/">Jerome Arfeli</a>, UPS</strong></div> <div>&nbsp;</div> <div><em><strong>Jerome is a Procurement professional with over 17 years&rsquo; experience in Global Procurement, Strategic Sourcing, Supplier and Program Management. He has held several roles and assignments, including managing raw materials commodities for Solvay, multiple indirect categories at The Coca-Cola Company and most recently Jerome has been leading Strategic Sourcing and helping to drive organizational transformation and S2P implementation technologies at UPS.&nbsp;</strong></em></div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><strong>How did you get into this field. Was it purposeful or by accident? &nbsp;</strong></div> <div> <div>Actually, my entry into Procurement was unexpected. I was finalizing my engineering internship at Solvay in a production facility in Belgium, when I decided to submit my resume to the centralized HR database of resumes without applying to any specific role. A few weeks later, a recruiter called me to discuss an analyst opportunity within Solvay&rsquo;s newly created centralized procurement organization. I got the job and I was hooked on Procurement ever since!&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> </div> <div><strong>In what ways do you feel your professional contributions have influenced or transformed the industry?</strong></div> <div>Although I have always worked for well-established global companies. (Solvay 159 years old, The Coca-Cola Company 136 years old and UPS 115 years old), I seem to always arrive at the moment their Procurement departments were under-going tremendous changes. This allowed me to be part of impactful Procurement transformation initiatives, from standing up new teams from scratch, implementing transformative operating models and driving the implementation of innovative technologies to support the Sourcing to Contract process. &nbsp;</div> <div><span style="font-size: 13.008px;">&nbsp;&nbsp;</span></div> <div>&nbsp;</div> <div><strong>In your opinion, what are the biggest challenges facing the industry today and what should be done to solve them?&nbsp;</strong></div> <div> <div>Delivering procurement savings in a significant inflationary and supply disruption environment as we are facing today, is more challenging than ever. Aligning with stakeholders to revamp major category strategies is key to executing on levers that might have been difficult to accomplish in the past. Just a few of those levers may require challenging demand and existing specifications, being more agile in allowing new entrants, and mitigating higher levels of risk alternative sources may represent. These actions are essential for any company working to balance cost and risk of supply in this unprecidented time.&nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> </div> <div><strong>Looking at the whole of your career, what do you consider to be your greatest achievement? &nbsp;</strong></div> <div>Through my career in Procurement, I had the opportunity to work and live in four continents. From starting my career in Europe, then moved in the USA in 2010, followed by global assignments with team responsibilities located in Asia and Latin America. I could have not asked for a better opportunity to apply my multi-cultural and languages skillsets. &nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>What three words do you feel your colleagues and peers would use to describe you?&nbsp;</strong></div> <div> <ol> <li>Perseverant&nbsp;</li> <li>Energetic&nbsp;</li> <li>Curious&nbsp;</li> </ol> <div>&nbsp;</div> <div>&nbsp;</div> </div> <div><strong>What advice do you have for those who are new to the profession or considering entering the industry?&nbsp;</strong></div> <div>Adapting to new technologies as they mature, being a change agent and challenging the status quos will allow you to grow as individual but also to provide the highest impact in the organizations you will be working for.</div> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/innovation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Innovation</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/strategy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategy</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Finalist Interviews for Sourcing Star Awards: Jerome Arfeli, UPS - Future of Sourcing" addthis:url="http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-jerome-arfeli-ups"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Tue, 15 Nov 2022 21:38:54 +0000 Future of Sourcing Awards 2250 at http://futureofsourcing.com http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-jerome-arfeli-ups#comments Finalist Interviews for Sourcing Star Awards: Catherine Candland, nextSource http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-catherine-candland-nextsource <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg"><a href="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg" title="Finalist Interviews for Sourcing Star Awards: Catherine Candland, nextSource" class="colorbox" rel="gallery-node-2249-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_generic_0.jpg?itok=s8yj27nC" width="624" height="325" alt="Finalist Interviews for Sourcing Star Awards: Catherine Candland, nextSource" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div><strong>Finalist Interviews for Sourcing Star Awards: Catherine Candland is CEO of nextSource</strong></div> <div>&nbsp;</div> <div><em><strong>Catherine Candland is CEO of nextSource, a workforce solutions company and certified Women&#39;s Business Enterprise (WBE). She is committed to helping enterprises access great talent, improve operating efficiencies, mitigate risks, leverage costs, and build competitive advantages. Over three decades, Catherine has earned the trust of industry-leading clients while founding and leading businesses known for their innovation, integrity and ROI. Catherine&#39;s impact has not been limited to the firms she has led. She has been an active board and advisory body member in the not for profit and public sectors, including public and private higher education, business and professional associates, and the Federal Reserve system. Her leadership has received national recognition from Fortune Magazine, Entrepreneur Magazine, Staffing Industry Analysts and Ernst &amp; Young, as well as numerous regional and local entities.</strong></em></div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <div><strong>How did you get into this field. Was it purposeful or by accident? &nbsp;</strong></div> <div>I have always been interested in why, how and with what criteria professionals make career choices. &nbsp;In college and as a young professional I often heard friends and colleagues say, &ldquo;this job is OK until I figure out what I want to do.&rdquo; &nbsp;I wanted to find a way to pre-emptively help employers and candidates make great choices. Companies struggle to build workforces that can drive their business priorities while individuals struggle to forge careers based on what they are passionate about, are inherently good at or desirous of being the best at. &nbsp;I took on the challenge of helping companies and individuals package those preferences for successful choices. &nbsp;</div> <div>&nbsp;</div> <div><strong>In what ways do you feel your professional contributions have influenced or transformed the industry?</strong></div> <div><span style="font-size: 13.008px;">My approach to workforce management is based on that belief that technology continues to enhance the science of workforce planning and management, but people and innovative processes drive the outcomes. In 1985, I founded Advantage Human Resourcing, a staffing company that quickly grew from a start up to $100 million and expanded to provide exceptional contingent workforce management solutions. &nbsp;Advantage developed the concept of Hire Thinking, a methodology that created excellent performance results based on fit, motivation, experience and skills evaluated across all programs, services, placements, and compliance. As a result, Advantage had the best client and staff retention rate in the industry for over twenty years. &nbsp;</span></div> <div>&nbsp;</div> <div>While most of our competitors focused on increasing the operational efficiency of temporary worker usage, Advantage viewed the market need differently, recognizing that clients were also seeking the knowledge and assistance needed to make and drive great talent choices. We were viewed as pioneers in what today is referred to as total talent management, managing all types of non-employees in a single program. &nbsp;</div> <div>&nbsp;</div> <div>In my career I have had the opportunity to apply this approach as the leader of some of the industry&rsquo;s best contingent workforce management companies including nextSource, where I serve as CEO today. &nbsp;At <em><strong>nextSource</strong></em>, we have further advanced the thinking regarding strategic workforce planning through the <em><strong>Program Agility Assessment</strong></em>, a proprietary methodology for ensuring alignment between corporate objectives/priorities and workforce programs. &nbsp;We recently introduced nextSourcing, a distinctive approach to direct sourcing that ensures continuous connections and frequent re-engagement of exceptional talent not sourced through traditional channels.&nbsp;</div> <div>&nbsp;</div> <div>Advocacy for great workforce programs, solid organizational talent selections, and growth opportunities for professionals is exhilarating work regardless of scale, sector, and position type. I have been fortunate to promote these ideas beyond the Companies I have led by serving as on corporate boards and advisory bodies in the not for profit and public sectors, including public and private higher education, business and professional associates, and the Federal Reserve system. &nbsp;&nbsp;</div> <div>&nbsp;</div> <div><strong>In your opinion, what are the biggest challenges facing the industry today and what should be done to solve them?&nbsp;</strong></div> <div>The forces shaping talent markets have been accelerated by COVID but were well underway before and continue to be with us. The ability to pivot talent policy, practice and pay to meet talent needs during this time of scarcity is essential. Understanding that this in only the beginning of an era of worker leverage is even more important. &nbsp;These challenges also create opportunities for break-out growth:</div> <div>&nbsp;</div> <ul> <li>I encourage enterprises to shift their workforce planning emphasis from roles / job functions to &ldquo;needed skills.&rdquo; The rapid pace of simultaneous changes means that talent demands are fluid and management flexibility is essential. &nbsp;Redeployment of employees and engagement of contingent workers based on &ldquo;skills to task matching&rdquo; will be far more efficient than endlessly defining or redefining positions, conducting searches as external events occur, onboarding new individuals into organizational culture, accepting &ldquo;just-in-case&rdquo; redundancy or furloughing during a time of scarcity. &nbsp;&nbsp;</li> <li>Flexible engagements will continue to replace traditional &ldquo;W2 employment,&rdquo; as our workforces become increasingly blended (gig, contractors, consultants, independent consultants, WFH, onsite, essential, non-essential, &ldquo;5 generational&rdquo;, and more). This blend can slow us down through complexity, or, if planned for strategically and managed well, simplify management&rsquo;s task by providing workforce flexibility, specialized talent when needed, demand elasticity and more predictable costs.&nbsp;</li> <li>Employment laws and regulations, many in conflict, are being continually introduced in so many jurisdictions that employers can struggle to be aware of, and adjust quickly enough, to avoid compliance risk while still maintaining the talent flexibility they need. Retaining a single compliance assurance service, fully integrated with talent acquisition, engagement and management systems, lifts the burden, improves results and helps control costs.&nbsp;</li> <li>Wages, while still important, are outweighed in employee priorities by other worker issues, starting with relationships with managers and the values of leaders. &nbsp;Effective talent management now requires more empathetic and flexible work environments, authentic diversity, ongoing learning opportunities, enhancement of personal (and portable) skills, and the willingness to hire and advance based on the probability of successful performance, rather than a traditional portfolio of job titles and credentials. &nbsp;</li> </ul> <div>&nbsp;</div> <div><strong>Looking at the whole of your career, what do you consider to be your greatest achievement? &nbsp;</strong></div> <div>The mission of nextSource &ndash; and my personal mission &ndash; is to advance the way the world connects with talent. &nbsp;That starts within the companies I have been privileged to lead. &nbsp;My greatest source of pride comes from assembling and working with a group of outstanding professionals who are committed to providing to our customers, suppliers, and partners, a personalized, intelligent approach to workforce solutions. The team&rsquo;s demographic diversity drives innovation, and each day I learn more from them, enabling me to be a better leader and professional.&nbsp;</div> <div>&nbsp;</div> <div><strong>What three words do you feel your colleagues and peers would use to describe you?&nbsp;</strong></div> <div>creative force; trustworthy; forward-thinking.&nbsp;</div> <div>&nbsp;</div> <div><strong>What advice do you have for those who are new to the profession or considering entering the industry?&nbsp;</strong></div> <div>Success in this industry requires passion. &nbsp;There is an exceptional sense of accomplishment that comes from knowing that you helped someone launch their career or you enabled a client to build the workforce needed to take itself to the next level. &nbsp;When entering this industry, think broadly about the problems clients and candidates are facing, and strive to find new solutions. &nbsp;&nbsp;</div> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/innovation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Innovation</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/strategy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategy</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Finalist Interviews for Sourcing Star Awards: Catherine Candland, nextSource - Future of Sourcing" addthis:url="http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-catherine-candland-nextsource"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Tue, 15 Nov 2022 21:22:05 +0000 Future of Sourcing Awards 2249 at http://futureofsourcing.com http://futureofsourcing.com/finalist-interviews-for-sourcing-star-awards-catherine-candland-nextsource#comments Finalist Interviews for Rising Star Awards: Matt McLoughlin, Scientist.com http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-matt-mcloughlin-scientistcom <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg"><a href="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg" title="Finalist Interviews for Rising Star Awards: Matt McLoughlin, Scientist.com" class="colorbox" rel="gallery-node-2248-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_generic_0.jpg?itok=s8yj27nC" width="624" height="325" alt="Finalist Interviews for Rising Star Awards: Matt McLoughlin, Scientist.com" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div><strong>Finalist Interviews for Rising Star Awards: Matt McLoughlin, Scientist.com</strong></div> <div>&nbsp;</div> <div><em><strong>Matt has worked in the pharmaceutical industry for over 20 years. For 15 years, he worked within AstraZeneca (AZ), starting off as a scientist before moving to R&amp;D Procurement to support sourcing of pre-clinical services.Joining Scientist.com in 2016, he created COMPLi&reg;, an industry wide solution to address the challenges of sourcing regulated services.</strong></em></div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p><strong style="font-size: 13.008px;"><span style="font-size: 13.008px;">1) How did you get into this field? Was it purposeful or by accident?&nbsp;</span></strong></p> <div>I started my career as a geneticist for AstraZeneca at 18, so I would say that the first half of my career was not at all aligned with procurement and sourcing. However, as that role developed, I received more exposure to it and realized I found it more rewarding than bench science. &nbsp;In 2013, I made the conscious effort of applying for an internal procurement role, and with my scientific experience I was welcomed with open arms. &nbsp;I spent three years in a pure procurement role and loved every minute of it and began to study towards my CIPS. &nbsp;In 2016, I took the opportunity to join one of my then suppliers because I truly believed in what they were doing, their vision and their culture. &nbsp;Now I work with most of the world&rsquo;s top 30 biopharma, 100+ biotechs and over 4000 suppliers within our marketplace and support the development of new medicines, and I&rsquo;ve never looked back.&nbsp;</div> <p>&nbsp;</p> <p><strong style="font-size: 13.008px;">2) In what ways do you hope to influence or transform the industry?&nbsp;</strong></p> <p>I am in the unique position to say that I believe I already have transformed the pharmaceutical industry. &nbsp;Obviously, to do that I needed the help of my amazing colleagues at Scientist.com, as they gave me the opportunity and confidence to take an idea I had at AstraZeneca and apply it across the entire pharma space. &nbsp;That idea became known as our COMPLi&reg; tool, and it has now supported the sourcing of hundreds of millions of dollars of research by embedding compliance at the heart of the outsourcing process with no negative effects. &nbsp;Moving forward, I want to grow COMPLi and Scientist.com in the pharmaceutical industry so that all sourcing can be done in 100% compliance of a company&rsquo;s internal policies and procedures while delivering the value procurement brings through cost effective sourcing to save time, money and resources. &nbsp;Within our company, we have the very lofty goal of helping to cure all diseases by 2050, and the work I and my fellow teams do is critical to us achieving that.&nbsp; &nbsp;
</p> <p>&nbsp;</p> <p><strong>3) Who are the mentors or role models who have guided you in your career? &nbsp;</strong></p> <p>Across my career I have been fortunate to work with some wonderful colleagues and persons. &nbsp;For me there are a number of people who have stood out and helped me get to where I am today. &nbsp;The first would be my mother; at 18 when I decided I didn&rsquo;t want to go to university, she was the one who charged me rent to live at home, meaning I had to get a job, which took me to AstraZeneca! &nbsp;Once there my first ever line manager, Suzanne Jenkins, taught me lessons on how to help someone grow that I still utilize today when working with my team. &nbsp;I worked side by side a phenomenal scientist, Caroline Dukes, for 13 years. &nbsp;She taught me everything about working in a scientific lab and the importance of quality supporting your colleagues. &nbsp;I still miss looking up from my desk and not seeing her face and having the laughs we used to have.</p> <p>Once I moved into procurement then there are three people who truly stand out and have enabled me to succeed. &nbsp;The first was my line manager and now Scientist.com teammate, Tom Dexter. &nbsp;He took a raw scientist with a bit of potential and taught me what procurement meant and had the faith to let me make mistakes and learn. &nbsp;His guidance was phenomenal, and I can&rsquo;t speak highly enough about him &ndash; he could easily be the Sourcing Star. &nbsp;Next is my General Counsel, Sarah Harkcom, who over the past 10 years singlehandedly taught me everything I know about legal and helped me grow into a more rounded procurement professional. &nbsp;Lastly is my current manager and Scientist.com COO and President, Dan Kagan, who, like Tom saw potential and brought me into the company and allowed me flourish. &nbsp;Writing this down makes me appreciate how lucky I have been to work with some fantastic individuals over the past 22+ years.&nbsp;</p> <p>&nbsp;</p> <p><strong>4) What is something you wish more people knew about the sourcing and procurement industry?&nbsp;</strong></p> <div>I think for me I would love people to realize that a lot of procurement is just common sense and that everyone is a procurement professional in some capacity. &nbsp;When I speak to stakeholders, it is not uncommon for them to believe it is this very complicated process or is designed to stop them from doing what they want to do.&nbsp;<span style="font-size: 13.008px;">When I come up against that, I tend to use real life examples to get them to understand and appreciate what we are trying to achieve. &nbsp;For example, when someone is buying a car or booking an expensive holiday, they don&rsquo;t normally purchase the first thing they see &ndash; they do their research, look at the options (price, availability, etc.) and then make a decision. &nbsp;That&rsquo;s what we do in procurement but usually for bigger sums and with someone else&rsquo;s money! &nbsp;Once they understand that I think it breaks down the barriers and gets them to see us as a benefit vs. a nuisance or a roadblock.</span></div> <div>&nbsp;</div> <div>&nbsp;</div> <p><strong>5) Looking ahead, what trends do you think will emerge in the sourcing and procurement space?&nbsp;</strong></p> <p><span style="font-size: 13.008px;">I think the next 10 years will continue the trend of digital transformation. &nbsp;The old ways of procurement in a lot of industries are exactly that &ndash; old ways. &nbsp;Successful companies in the future will embrace technologies, such as Scientist.com, to enable their procurement professionals to re-write their category strategies and extract new and enhanced benefits. &nbsp;Why would we spend months putting in place MSAs when we can utilize an online marketplace with pre-negotiated contracts? Why develop complex third-party risk management processes when you can collaborate with peers and use one process for the industry? Why utilize tools for RFPs that everyone hates when new solutions are available that addresses all the issues and makes the process more enjoyable for the suppliers and the customers? &nbsp;All of these things are still happening today, which no longer need to, and I believe it is because it&rsquo;s due to the classical &ldquo;well this is how we&rsquo;ve always done it&rdquo; mindset. &nbsp;For me, the new breed of procurement professionals need to not be constrained by the limitations of the past, as a lot of those have been solved with new technologies that still adhere to the principles of sound procurement practices but do so in a different, more agile, more cost effective, more transparent manner.</span></p> <p><span style="font-size: 13.008px;">
&nbsp;</span></p> <p><strong>6) What advice do you have for those who are considering a career in sourcing or procurement?&nbsp;</strong></p> <p>Put simply - do not be put off by the name or the fancy terms that are used or think you can&rsquo;t do it. &nbsp;I truly believe everyone is a procurement professional in their personal lives so why not utilize those skills as part of your professional life? Procurement can give you exposure to the entire business internally and externally, it can present you new challenges every day, there is huge opportunity to grow and develop and you will meet some fantastic people along the way. &nbsp;For me it&rsquo;s been a fantastic career, and there isn&rsquo;t a single day where I regret leaving bench science so take the plunge &ndash; you will be surprised by what you find.&nbsp;</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/innovation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Innovation</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/strategy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategy</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Finalist Interviews for Rising Star Awards: Matt McLoughlin, Scientist.com - Future of Sourcing" addthis:url="http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-matt-mcloughlin-scientistcom"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Tue, 15 Nov 2022 21:02:33 +0000 Future of Sourcing Awards 2248 at http://futureofsourcing.com http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-matt-mcloughlin-scientistcom#comments Finalist Interviews for Rising Star Awards: Leyanna Torres, Amazon http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-leyanna-torres-amazon <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg"><a href="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg" title="Finalist Interviews for Rising Star Awards: Leyanna Torres, Amazon" class="colorbox" rel="gallery-node-2247-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_generic_0.jpg?itok=s8yj27nC" width="624" height="325" alt="Finalist Interviews for Rising Star Awards: Leyanna Torres, Amazon" title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div><strong><span style="font-size: 13.008px;">Finalist Interviews for Rising Star Awards:&nbsp;Leyanna Torres, Amazon</span></strong></div> <div>&nbsp;</div> <div><strong><em>Truly dynamic and well-respected trailblazer within her field; Leyanna Torres started her journey at Michigan State University pursuing a Bachelor of Science in packaging engineering shortly followed by her MBA at University of Phoenix. She spent most of her career in automotive, specializing in vehicle packaging process and lineside packaging design. She eventually transitioned into direct then indirect procurement leadership at some of the largest automotive tier 1 suppliers in the world. She is now a Global Senior Category Manager for Amazon focusing on safety and powered industrial truck autonomy sourcing and technical program management.  She is member of the Michigan Oakland County&rsquo;s Elite 40 under 40, has delivered a TED talk spin off on &lsquo;Mindset and Culture&rsquo; and was a panelist on the Real Sourcing Networks (RSN) procurement talks alongside other global procurement leaders discussing the procurement hurdles they overcame during the pandemic.</em></strong></div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p style="font-size: 13.008px;"><strong style="font-size: 13.008px;">How did you get into this field. Was it purposeful or by accident?</strong></p> <p style="font-size: 13.008px;"><span style="font-size: 13.008px;">It was by a happy accident.&nbsp;</span><span style="font-size: 13.008px;">I started in the packaging engineering industry. In that industry, I played the role of purchasing by sourcing my own customized packaging. In the process of combining engineering design with negotiation my savings were exceptional which pivoted me into purchasing and eventually into a purchasing leadership role. &nbsp;</span></p> <div><strong>In what ways do you hope to influence or transform the industry?</strong></div> <div>I believe that sourcing should include agile leaders. Those that may have a different point of view, understanding many different areas of a business adding additional value, even technical knowledge to the sourcing process. I am hopeful that my unique background shows others and companies that agility is not only important but a pivotal part of the sourcing industry. Having a broad perspective can add exceptional value. &nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>Who are the mentors or role models who have guided you in your career?</strong></div> <div>My parents, husband, Manish Senta, Joe Gaus and Jeff Wells. &nbsp;</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>What is something you wish more people knew about the sourcing and procurement industry?</strong></div> <div>The market is the real cost driver. Quality is often more important than price. From a career perspective, you do not have to start your career in supply chain to enter the procurement industry. Anyone can learn to negotiate and source a supplier. It&rsquo;s about your ability to mine data and use it as leverage during the procurement process and most importantly your ability to build long term relationships. &nbsp;</div> <div>&nbsp;</div> <div><strong>Looking ahead, what trends do you think will emerge in the sourcing and procurement space?</strong></div> <div>The ability to more agile. Engineers, finance, and other roles bleeding into the procurement space bringing forth diverse perspectives to the role.</div> <div>&nbsp;</div> <div>&nbsp;</div> <div><strong>What advice do you have for those who are considering a career in sourcing or procurement?&nbsp;</strong></div> <div><span style="font-size: 13.008px;">Engage a mentor as procurement opens doors to other roles and industries. The possibilities are endless. Keep and open mind and always be willing to learn. The number of years someone has in procurement doesn&rsquo;t always translate to their potential and expertise. Take in all advice you can get as they may provide an alternative perspective you may not have considered. Watch the market and know what is going on around you, always. This allows you to be successful in your future negotiations and lets you know where your leverage may or may not lie.</span></div> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/innovation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Innovation</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/strategy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategy</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Finalist Interviews for Rising Star Awards: Leyanna Torres, Amazon - Future of Sourcing" addthis:url="http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-leyanna-torres-amazon"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Tue, 15 Nov 2022 20:52:59 +0000 Future of Sourcing Awards 2247 at http://futureofsourcing.com http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-leyanna-torres-amazon#comments Finalist Interviews for Rising Star Awards: Tyler Higgins, Managing Director, AArete http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-tyler-higgins-managing-director-aarete <div class="field field-name-field-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even" rel="og:image rdfs:seeAlso" resource="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg"><a href="http://futureofsourcing.com/sites/default/files/articles/fos-announcement-video_fos-site_hero_generic_0.jpg" title="Finalist Interviews for Rising Star Awards: Tyler Higgins, Managing Director, AArete " class="colorbox" rel="gallery-node-2244-QGF3HYiagiA"><img typeof="foaf:Image" src="http://futureofsourcing.com/sites/default/files/styles/juicebox_medium/public/articles/fos-announcement-video_fos-site_hero_generic_0.jpg?itok=s8yj27nC" width="624" height="325" alt="Finalist Interviews for Rising Star Awards: Tyler Higgins, Managing Director, AArete " title="" /></a></div></div></div><div class="field field-name-field-intro field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"> <div> <div><strong><span style="font-size: 13.008px;">Finalist Interviews for Rising Star Awards:&nbsp;</span><span style="font-size: 13.008px;">Tyler Higgins, Managing Director, AArete</span></strong></div> <div>&nbsp;</div> <div><em><strong><span style="font-size: 13.008px;"><a href="https://www.linkedin.com/in/tyler-higgins-496ba012/" target="_blank">Tyler Higgins</a>, Managing Director at&nbsp;</span></strong><strong style="font-size: 13.008px;"><span style="font-size: 13.008px;"><a href="https://www.aarete.com" target="_blank">AArete</a></span></strong><strong><span style="font-size: 13.008px;">, has 15 years of experience leading multi-year sourcing initiatives within higher education, retail, consumer products, healthcare, transportation, and energy. His work in sourcing innovation, automation, and process improvement has achieved over $750 million in strategic profitability improvement for clients. Tyler has led projects in diverse sourcing categories including temporary labor, facilities, IT hardware /software, scientific supplies, supply chain/transportation, outsourcing and human resource benefits. Tyler holds a Bachelor of Science degree in Environmental Economics from the University of California, Berkeley, is a published author, and a sought-after expert widely quoted in national and industry publications.</span></strong></em></div> </div> <p>&nbsp;</p> </div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even" property="content:encoded"> <p><strong style="font-size: 13.008px;"><span style="font-size: 13.008px;">1) How did you get into this field? Was it purposeful or by accident?&nbsp;</span></strong></p> <p><span style="font-size: 13.008px;">Interestingly, it was both purposeful and accidental. The accidental side is that my first internship was with a CIO of a publicly traded engineering firm. The CIO, a family friend, hired me that summer to help him complete post-acquisition cost reduction efforts. They had acquired 50+ small engineering firms and the CIO had a proliferation of contracts, a fragmented supply base, and no visibility into his spend. I spent the summer rolling out managed print contracts, renegotiating telecom contracts, establishing new IT asset procurement processes, amongst many others. After that summer, I set a purposeful goal of focusing my career on cost reduction and procurement problem solving. Luckily, the company needed help, so it allowed me to work for 3+ years on sourcing projects and I fell in love with the impact cost reduction can have for an organization.</span></p> <p>&nbsp;</p> <p><strong style="font-size: 13.008px;">2) In what ways do you hope to influence or transform the industry?&nbsp;</strong></p> <p>When I shifted from the corporate side of sourcing to consulting, it was done with an intent to change the way sourcing organizations deliver value and increase the role sourcing has within companies. I&rsquo;ve long been a believer that sourcing leaders should have a seat at the executive table even when driving topline strategy. Through my career, I&rsquo;ve continued to elevate the role of CPOs and sourcing leaders and continued to challenge organizations to focus on strategic value-added efforts as opposed to the legacy transactional based focus of years past. As I continue moving forward in my career, my goal is to position sourcing as both a cost savings and revenue generating enabler &ndash; a critical dual role to support the execution of corporate strategy. The trendy words of today&rsquo;s organization &ndash; agile, nimble, digital &ndash; all need someone to execute them. The best person for that execution is a procurement leader. &nbsp;
</p> <p>&nbsp;</p> <p><strong>3) Who are the mentors or role models who have guided you in your career? &nbsp;</strong></p> <p>As my career progressed, I have had many mentors who have helped me find the right path for my career make the right career decisions. Early in my career, my mentor and role model was the CIO of my first internship. He provided me with insights into how business operates and most importantly, the role sourcing, cost management, and cost strategy can play in driving the bottom of line of publicly traded organizations. Moving on in my career, as I joined AArete, the leadership of AArete &ndash; our CEO and our west coast Managing Director &ndash; provided me with opportunities to demonstrate my capabilities while also being a sounding board to help ensure I stayed focused on delivering the best we could for our clients. One key aspect that all my mentors and role models have taught me is to put people first &ndash; lead, train, and mentor others &ndash; while also keeping an eye on value creation. If you can surround yourself with great people committed to value creation, you&rsquo;ll always be called upon to help move an organization forward. &nbsp;
&nbsp;</p> <p>&nbsp;</p> <p><strong>4) What is something you wish more people knew about the sourcing and procurement industry?&nbsp;</strong></p> <p>Most people know a fair amount about sourcing and procurement, but one perspective has always stuck well with me &ndash; ten dollars of revenue improvement creates one dollar of profit, but one dollar of cost savings creates one dollar of profit. At times, the ability of sourcing and procurement to hit the bottom line is under-appreciated. But the value to drive profit for an organization is easily attainable. &nbsp;
&nbsp;</p> <p>&nbsp;</p> <p><strong>5) Looking ahead, what trends do you think will emerge in the sourcing and procurement space?&nbsp;</strong></p> <p>As with many aspects of business, technology and automation will continue to have an expanded role in sourcing and procurement. Self-service platforms already exist, and we know we are seeing bots that can negotiate common terms. Over the next 3-5 years, we will continue to see the digital evolution of sourcing including mobile technologies, automation, and bots. For key sourcing leaders, we will continue to see the rise of collaboration tools between key stakeholders and procurement team members and the push to make decisions grounded in data and market intelligence. Sourcing is a fast-moving department, and the best companies will keep their leaders on the forefront of technologies, processes, and policies.</p> <p>
&nbsp;</p> <p><strong>6) What advice do you have for those who are considering a career in sourcing or procurement?&nbsp;</strong></p> <p>Procurement/sourcing is a great career, and its importance continues to grow at every company we support. The role of procurement has evolved and the move to more strategic delivery and value creation is changing the importance in an organization. What makes procurement and sourcing interesting is that you end up becoming a jack of all trades. In my career, I have learned about common indirect categories &ndash; office supplies, laptops, software &ndash; to complete niche categories &ndash; research animals, utilities, medical benefits, etc. Being able to bridge across an organization, you get to learn something new every day and that is what makes sourcing such an amazing career. When I meet with procurement and sourcing folks, I routinely share that the career path is blossoming and over the next 10-20 years, sourcing leaders will continue to gain a more vital role in successful driving corporate strategy.</p> </div></div></div><div class="field field-name-field-tags field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even" rel="dc:subject"><a href="/tags/innovation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Innovation</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/transformation" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Transformation</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/leadership" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Leadership</a></div><div class="field-item odd" rel="dc:subject"><a href="/tags/sourcing" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Sourcing</a></div><div class="field-item even" rel="dc:subject"><a href="/tags/strategy" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Strategy</a></div></div></div><div class="field field-name-field-addthis field-type-addthis field-label-hidden"><div class="field-items"><div class="field-item even"><div class="addthis_toolbox addthis_default_style " addthis:title="Finalist Interviews for Rising Star Awards: Tyler Higgins, Managing Director, AArete - Future of Sourcing" addthis:url="http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-tyler-higgins-managing-director-aarete"><a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_linkedin"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_facebook"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_twitter"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_googleplus"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_pinterest_share"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_reddit"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_email"></a> <a href="https://www.addthis.com/bookmark.php?v=300" class="addthis_button_print"></a> </div> </div></div></div><div class="field field-name-field-region field-type-taxonomy-term-reference field-label-inline clearfix"><div class="field-label">Region:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/regions/global" typeof="skos:Concept" property="rdfs:label skos:prefLabel" datatype="">Global</a></div></div></div> Mon, 07 Nov 2022 13:24:47 +0000 Future of Sourcing Awards 2244 at http://futureofsourcing.com http://futureofsourcing.com/finalist-interviews-for-rising-star-awards-tyler-higgins-managing-director-aarete#comments