IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

The IT Pro Podcast: How can we make procurement smart?

Context is king when it comes to choosing a reliable supplier

The IT Pro Podcast logo with the episode title 'How can we make procurement smart?''

Procurement has long been treated as a ticketing problem, with check boxes to fill and suppliers to onboard according to regulation. But with increasingly sophisticated automation systems, and a growing need for exact partner agreements amidst global supply chain issues, companies could do well to rethink their linear approach to procurement.

This week we talked to Sudhir Bhojwani and Lalitha Rajagopalan, co-founders of supplier engagement platform ORO Labs, about its ‘smart’ procurement strategy, and the place that automation has within the procurement workflow.

Highlights

“If the safety certification was done two years back, maybe you need to do it again. On the other hand, if it was never done, you definitely need to do it again. So, the smartness really also means it needs to understand these concepts natively, and there are many such concepts, health and safety is just one. Sustainability is another concept, security is another, privacy is another, there are lots and lots of interesting concepts that companies have to deal with. And if you don't do smartly, you will end up doing same thing again, and again, for no good reason.”

“Think about it that way, right. So what a smart workflow will do, is it will actually not wait till the user fails, saying that, "Oh, you don't have an alternative," it will tell him right up front, it'll give him the in-guided policy guidance to say, "Hey, you're trying to buy something that's going to cost more than 100k. The company policy says that, you know, it should have a competitive bid, do you have a competitive bid? Or an alternate supply you'd like to consider? Or is it a unique situation? Like it's a unique supplier or something like that?" So the user is guided to provide exception, right there, they don't fail it and then go back.”

“Users feel frustrated with procurement, because they are like kids stuck in the backseat of the car asking the parents "are we there yet? Are we there yet?" It's like a complete black box, and one big part of it is making the visibility of what's going on and why it's going on.

Read the full transcript here.

Footnotes

Subscribe

Featured Resources

Accelerating healthcare transformation through patient-centred medtech solutions

Seize the digital transformation opportunities to streamline patient care and optimise patient outcomes

Free Download

Big payoffs from big bets in AI-powered automation

Automation disruptors realise 1.5 x higher revenue growth

Free Download

Hyperscaler cloud service providers top ten

Why it's important for companies to consider hyperscaler cloud service providers, and why they matter

Free Download

Strategic app modernisation drives digital transformation

Address business needs both now and in the future

Free Download

Recommended

The IT Pro Podcast: Making sense of the telco transformation
Network & Internet

The IT Pro Podcast: Making sense of the telco transformation

2 Dec 2022
The IT Pro Podcast: The front line of fraud tech
cyber crime

The IT Pro Podcast: The front line of fraud tech

29 Nov 2022
The IT Pro Podcast: How secure is metaverse tech?
Security

The IT Pro Podcast: How secure is metaverse tech?

18 Nov 2022
The IT Pro Podcast: The rise of automated contracts
automation

The IT Pro Podcast: The rise of automated contracts

11 Nov 2022

Most Popular

Empowering employees to truly work anywhere
Sponsored

Empowering employees to truly work anywhere

22 Nov 2022
How to boot Windows 11 in Safe Mode
Microsoft Windows

How to boot Windows 11 in Safe Mode

15 Nov 2022
Why Japan finds it so hard to digitally transform
digital transformation

Why Japan finds it so hard to digitally transform

1 Dec 2022