"What you think of as the data isn't the right data." This observation from FineTune COO Brian Gamble shines an (uncomfortable) spotlight on one of procurement's biggest challenges: AI has the potential to completely transform the function (in a good way) and drive a significant amount of value for the business, but only if organizations first acknowledge how inadequate their current data actually is. In the twenty-ninth episode of "Buy: The Way...To Purposeful Procurement," Philip Ideson, Rich Ham, and Kelly Barner reflect on recent conversations with procurement tech pioneer Jason Busch and category expert Brian Gamble. They explore the troubling reality that procurement's future with AI depends almost completely on having the right data, while most organizations don't even know what the right data looks like. This conversation exposes the gap between what practitioners call "the data" and what actually constitutes useful information for decision-making. Invoice details, contracts housed in various systems, and perhaps some quarterly business review reports make up most of what the average procurement professional considers their data foundation. Suppliers have systematically reduced invoice transparency over the years, removing fields that enabled auditing, all under the guise of creating "easier to read" formats, and procurement is left to deal with the fallout. The episode also connects back to Buylaws 5 and 6, prioritizing comprehensive high-quality data and developing expense-specific systems of measurement, while simultaneously setting up the next conversation about how compensation models and hiring practices must evolve for procurement's uncertain future. Links: Rich Ham on LinkedInLearn more at FineTuneUs.com

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related