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Ep 19: Procurement Trends and Opportunities for 2025 feat. Ari Stone

Each year contains unexpected developments and surprises. Some of them are mere flashes of circumstance while others change the trajectory of industries, communities, and individuals for the long term. The challenge for procurement is knowing what to watch for and then deciding how to prepare. In this episode of the #LoveProcurement podcast, Kelly Barner is joined by Ari Stone. Ari is the Global SVP for Value Engineering, Solution Consulting, and Services at Ivalua, a role that requires him to have an understanding of all the factors that impact procurement’s work. Ari shares the key trends he is watching as 2024 draws to a close and offers predictions about what we might expect in the new year: The storylines procurement can expect to see around generative AI in 2025 and how procurement can seize the associated opportunity The critical role that data will play in corporate decision making and how it may change the role of Chief Procurement Officer How workforce trends are affecting procurement’s ability to influence their peers and how a new generation of professionals is remaking the procurement brand in their own image The ongoing drama of geopolitics and how it is putting pressure on global supply chains while increasing the need for risk management and transparency ========== Ivalua is a leading provider of cloud-based Spend Management software. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk and improving employee productivity. We are trusted by hundreds of the world’s most admired brands and recognized as a leader by Gartner and other analysts. In today’s dynamic business landscape, the race for Procurement efficiency and a competitive edge is relentless. Introducing Ivalua’s Intelligent Virtual Assistant (IVA) – powered by cutting-edge Generative AI (Gen AI). Seamlessly integrated into your daily activities, IVA empowers your Procurement team to shift their focus towards strategic initiatives, while enhancing overall productivity. Unleash the power of Generative AI in Procurement, a rapidly expanding technology with undiscovered potential. Concrete use cases for leveraging Large Language Models (LLM’s) within Source-to-Pay are emerging but this is just the beginning. Procurement professionals must leverage the power of Gen AI to create their own use cases with no-code capabilities.