Smarter Sourcing Smarter Sourcing

In this episode of Smarter Sourcing, John speaks with Heleen Du Toit, VP of Procurement, Rigid Packaging at PepsiCo. Heleen shares her perspective on the vital role of balancing experience and skills for career growth. She touches on the importance of tactical empathy in negotiation, drawing from Chris Voss’s book Never Split the Difference.

Heleen also discusses the future of sourcing and procurement, emphasizing a shift from cost to value through the use of market intelligence and artificial intelligence. She offers valuable insights on leadership, negotiation, and adapting to the evolving landscape of the industry, along with practical advice and forward-thinking strategies.

Topics discussed:

- The importance of balancing hands-on experience with a strong skill set for continued career growth and adaptability in the industry.
Insights on negotiation strategies, emphasizing the concept of tactical empathy.
- Developing strong operational skills and the ability to solve complex problems as key components for success in procurement.
- The shift from focusing purely on cost to emphasizing value and leveraging market intelligence and artificial intelligence in procurement.
- Investing in diverse, highly talented teams and matching the right people to the right roles to drive business success.
- How the pandemic has changed the strategic role of procurement and sourcing within companies, emphasizing agility and responsiveness.
The importance of ongoing education, mentoring, and adapting to new business strategies and technological advancements.
- The necessity of a strong understanding of how actions drive business growth and margin, integrating cost models and macroeconomics.

In this episode of Smarter Sourcing, John speaks with Adam Cummins, Principal & Director of Portfolio Procurement at The Carlyle Group. Adam shares valuable insights into the importance of creating mutual win-win initiatives, emphasizing the need for engagements that benefit all stakeholders.

Adams touches on how technology and automation, including AI and machine learning, are revolutionizing decision-making and efficiency in procurement processes. He also discusses the evolving criteria for talent in the industry, highlighting the growing importance of tech-savvy professionals.

Topics discussed:

- The strategic importance of procurement in modern business and how it impacts overall company performance.
- Emphasis on creating engagement strategies that benefit all stakeholders, ensuring sustainable and successful collaborations.
- How AI and machine learning are transforming decision-making and efficiency in procurement processes.
- The changing criteria for sourcing and procurement roles, focusing on the need for tech-savvy professionals.
Addressing the struggles these companies face in understanding the value of procurement and implementing effective strategies.
- Best practices and lessons learned in the industry to help improve procurement processes and outcomes.
- How procurement strategies are tailored to meet the needs of various portfolio companies within The Carlyle Group.
- Leveraging data and analytics to drive better procurement decisions and optimize supply chain operations.

In this episode of Smarter Sourcing, John speaks with Rick Harrison, founder and host of the TV series Pawn Stars and the founder of the Gold & Silver Pawn Shop. Rick shares his journey from humble beginnings to becoming a household name in the pawn industry thanks to his international hit show Pawn Stars. 

He discusses the importance of media strategy in elevating his business and how leveraging media appearances led to the success of his TV show. Rick also emphasizes the importance of honesty and reputation in building a long-lasting business. Additionally, he provides insights into the role of strategic marketing in gaining public trust and the necessity of adapting to new technologies to stay competitive. 

Topics discussed:

- The hurdles Rick overcame in obtaining the necessary licenses to open a pawn shop and the legal battles involved.
- Insights into working with his father and the challenges they faced in establishing their first pawn shop.
- How Rick used media appearances to generate publicity and boost his business, eventually leading to the creation of Pawn Stars.
- The importance of maintaining honesty and a good reputation in transactions to build long-term business relationships and success.
- How the Internet and AI have transformed the pawnbroking business, making it easier to source items and stay informed on market trends.
- The extensive training programs for employees, including specialized courses on various valuable items like watches and collectibles.
- Rick’s stories of some of the most memorable and profitable transactions he has made over the years.

In this episode of Smarter Sourcing, John speaks with Bill Courtney, 7x CFO & Senior Financial Executive, about his extensive experience in procurement and sourcing across various industries. Bill reflects on his time at companies like Ford, Hertz, and Delta, highlighting the challenges faced and the strategic decisions made during critical periods such as 9/11 and the COVID-19 pandemic. 

They dive into the importance of simplifying complex processes, the impact of leadership in driving organizational change, and the evolving role of Chief Procurement Officers. 

Topics discussed:

- Bill Courtney’s journey as a CFO from Ford to Hertz, Delta, and CWT, highlighting leadership lessons, challenges overcome, and strategic decision-making.
- The critical role of procurement during crises like 9/11 and the COVID-19 pandemic in managing suppliers and costs.
- The importance of simplifying complexity and fostering partnerships to drive organizational success.
- The impact of mergers and acquisitions on procurement processes and the need for efficient integration of backend systems.
- Lessons learned about leadership, compassion, and making tough decisions during company turnarounds and bankruptcies.
- The evolution of the Chief Procurement Officer role, including increased importance after crises such as 9/11 and COVID-19.

In this episode of the Smarter Sourcing podcast, John sits down with Ulunda Baker, Senior Director, Business Diversity, Category Management & Sourcing, Purchasing at TIAA, who shares her inspiring career journey. Ulunda discusses the importance of strategic sourcing and supplier relationships in achieving business goals.  

She also explores her leadership approach and the value of teamwork and continuous learning. Through personal anecdotes and professional experiences, Ulunda underscores the significance of giving back to the community and fostering diversity in the corporate world. 

Topics discussed:

- The significance of strategic sourcing in achieving business objectives and the transformative power of well-managed supplier relationships.
- Ulunda’s leadership approach is focused on mentorship and continuous learning, shaped by her upbringing.
- The impact of community outreach programs, including Ulunda’s family nonprofit.
- How supplier diversity not only enriches procurement processes but also enhances overall business resilience.
- The evolving landscape of sourcing practices, particularly during challenging times like the pandemic.
- Why diversity contributes to innovation and competitiveness in the industry.

In this episode of the Smarter Sourcing podcast, John speaks with Anna Hammons, Senior Director, Procurement at Sam’s Club, about her day-to-day experience in procurement, as well as what characteristics she looks for when building her team. 

Anna also talked about how before the COVID-19 pandemic, contingency planning was to simply ”figure it out,” but now it requires much more planning. They also discuss how Sam’s Club is looking to incorporate more technology and to be more sustainable.
***The comments are the views of Anna Hammons and do not necessarily reflect the views of Walmart or Sam’s Club***

Topics discussed:

- What procurement really looks like – it’s more than just purchasing.
- Risk management in the context of adopting new technology and partnering with startups. 
- What a procurement leader should look for when building their team. 
- How Sam’s Club is looking for ways to be more sustainable while also incorporating new technologies.
- How contingency planning has changed since the COVID-19 pandemic: having a backup is more important than ever.
- What Founder Sam Walton would think of the company if he could see it today.