In this webinar Kelly Barner, the Managing Director and Owner of Buyers Meeting Point, online knowledge and professional development resource for supply management and procurement professionals, will look at the potential opportunities and impacts things such as blockchain, RPA, machine learning, digital transformation, AI, and cognitive computing have on procurement.
Over the last few months, have you – like me – found yourself at a complete loss that teens all over the U.S. are making videos of themselves eating laundry detergent tablets? Some are pressured by peers and others are driven forward by the desire to ‘go viral’, but all of them are taking a terrible risk with their health. This awful trend is so hyped from a peer to peer perspective that Rob Gronkowski, a tight end for the New England Patriots, recently made a 20 second video targeted at teens where he says “NO” over and over and finishes on a very clear note: “Do not eat.”
Hype, no matter what kind, allows actual or perceived peer pressure to come between otherwise rational people and their judgement. Hype can lead to euphoria or madness (or both) and is always accompanied by nearly irresistible momentum. Resisting hype can feel like defying gravity – even when doing so is in our best interests.
The whole business world is currently under siege by hype driven technology. Examples include blockchain, RPA, machine learning, digital transformation, AI, and cognitive computing. EVERYONE is talking about them. EVERYONE knows they are the future of whatever industry, field, or business process is being discussed. And EVERYONE is positive they will cure all ills and create undefeatable competitive advantage.
Unfortunately, for anyone that resists the hype, this creates a few negative ‘EVERYONE’ perceptions:
EVERYONE knows what these technologies are and understands their potential impact,
EVERYONE will think less of me if I admit I do not or ask a ‘stupid’ question, and
EVERYONE believes they are behind the curve in terms of implementation.
Well, as your mother might have asked you, if EVERYONE is eating laundry detergent tablets, does that mean you should too?
Cutting edge technology is exciting, and it provides opportunities for procurement to apply our skills on behalf of the company in new ways. But focusing on hype alone can only lead to panic and poor choices. Procurement needs to do our research, keep our feet firmly planted on the ground, ask the tough questions, and lead the way forward in a responsible and deliberate manner.
In my first Real World Procurement Series webinar, I will define the hyped technologies listed above, talk about what the potential opportunity/impact is for procurement, and maybe pull in a recent news headline or two to put each topic into context.