#equation-based

What is the difference between one year's experience twenty times and twenty years experience once?

The first graph below is from a McKinsey LinkedIn post from today regarding the impact that collaboration has on transformation success. I do not know who at McKinsey came up with the latest iteration of what collaboration and transformation looks like – graphically speaking However, over the last several decades, I have seen many graphic illustrations from McKinsey on this same topic. With…

What is the procurement "Error Chain?"

EDITOR’S NOTE: Use the following link to join the in-depth discussion stream on LinkedIn. Michael Lamoureux, you make an excellent point for which there are two discussion tracks: 1. See my comment above regarding the two sets of questions I asked ChatGPT. 2. Check Akash Mittal‘s comments in this same discussion stream. Your and his answer brings to mind the aviation term “Error…

Are you accounting for the human element in your procurement strategies?

EDITOR’S NOTE: The following is the discussion stream resulting from a thought-provoking interview between Shaun Syversten and David Loseby which illustrates perfectly why the agent-based model is critical to ProcureTech initiative success. Shaun Syversten: “Economics, unfortunately, as originally conceived” – “many others probably before”How much do you rely on logic when making decisions in…

Message to Solution Providers: "Please show me the results and confirm that you are a profitable organization, and I will sing your praises far and wide."

EDITOR’S NOTE: The response to the comment below has been “energized” if not particularly relevant. Despite spending the better part of my 65 years in high-tech and procurement and loving all technology, simply asking for tangible results, e.g., “Haha, that’s ok, John, there were a few detractors of the internet too! Notably, calling it a passing fad!” My problem isn’t with technology; it is…