Category: Procurement 101

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Why AI Contract Negotiations Are So Challenging

Cute robot setting contract on fire

AI is revolutionizing industries, but its contracts can be a minefield. In this video, we’ll delve into the key challenges faced when negotiating AI software contracts.

Key topics covered:

  • AI Bias: Understanding the risks and how to address them in your contract.
  • Limitation of Liability: Protecting your business from potential damages and losses.
  • Indemnification: Ensuring proper compensation for breaches of contract or intellectual property infringement.

Learn how to navigate these complex issues and draft effective AI contracts that safeguard your interests.

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Why Software Procurement is Different

Software has become an integral part of modern businesses, yet its procurement presents unique challenges. In this video, we’ll explore the complexities of software procurement and why it differs from traditional procurement strategies.

  • Ubiquity of Software: Software is everywhere, used for various purposes and by diverse stakeholders. This makes it difficult to develop a unified procurement strategy.
  • Lack of Standardization: Unlike tangible goods, software often lacks standardization, making direct comparisons and apples-to-apples bidding difficult.
  • Security and Functional Needs: The importance of security and specific functional requirements in software can further complicate procurement processes.

Join me as I discuss strategies to overcome these challenges and effectively procure software for your organization.

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Procurement: More Than Just Saving Money

I’m back after a six-month hiatus to dive deep into the core functions of procurement. It’s been a while, but the questions keep coming in: “What does procurement actually do?” and “Is it a good career path?”

Let’s get back to basics. Procurement plays a crucial role in any organization by:

  1. Saving Money: We negotiate contracts, manage supplier relationships, and implement strategies to reduce costs.
  2. Managing Risk: We identify and mitigate potential risks, ensure continuity of supply, and protect our organizations from disruptions.

After 15 years in the field, I can confidently say that procurement offers a rewarding and challenging career path with plenty of opportunities for growth and development.

In this video, I’ll discuss the key responsibilities of a procurement professional, explore common misconceptions, and share my insights on why I love this field. So, whether you’re a seasoned pro or just starting your procurement journey, join me as we redefine what it means to create value and manage risk.

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Shut Up and Listen: Talk To Your Customers!

In corporate America, we often get stuck in legacy patterns of activity… we do it because the people before did it and people still want it.

It is hard to shake free of these patterns or at the very least, determine if they are still needed.

But one way to improve and validate your work is to talk to the people who actually consume your work… TALK TO YOUR CUSTOMERS!

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Why Is It So Hard to Pay Suppliers?

Payment process in both large and small corporates can be complicated. As companies grow the older processes often don’t scale. More compliant payment process protects the company but is costly both financially and in agility.

I know business owners and suppliers are often frustrated with the time it takes to get payments out the door, but there is usually a good reason for the delays.

This video discusses those reasons and some solutions to make the pay experience better.