Predictive Analytics in Strategic Sourcing | Ep. 28 Edmund Zagorin, CEO, Arkestro (formerly Bid Ops)
In this episode of the AITJ podcast, we talk to Edmund Zagorin about strategic sourcing and procurement, predictive analytics, and much more.
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00:00 Intro
01:26 Edmund's Journey from Philosophy to Procurement
05:18 Procurement Processes Are Incredibly Important
07:19 Bid Ops Enables High Performing Procurement Teams
09:43 Traditional Problems in Procurement
11:36 Bid Ops' Self Driving Simulations
14:30 Manual Data Entry and Fragmentation is a Problem
16:02 Humans are Still Needed for Procurement Agreements
18:17 Building a Large Dataset and Analyzing Patterns
20:46 The "Pareto Principle"
21:27 Retrospective Data
22:15 Simulating Competition in Data Categories
24:07 Recommender System
28:32 Expect What's on the Other Side of a Transaction
31:16 Market Forces Don't affect Supplier Negotiating Power as much as You Might Think
34:14 Predictability is a Feature of the Product
35:41 Bid Ops is the Most Sophisticated Procurement Tool
38:38 The Three P's of Procurement
40:03 Get Your Procurement House in Order
42:35 Outro and Credits
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Edmund Zagorin, _______
https://www.linkedin.com/in/edmund-zagorin-41291b13
Melissa Drew, Associate Editor at AI Time Journal
https://www.linkedin.com/in/m-drew/
Our website - https://www.aitimejournal.com/
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Sponsor our podcast! With options of sponsoring your own podcast interview or multiple episodes with your 30-second ad featured pre, mid, and post-roll throughout your sponsored episode(s), this is a great opportunity to invite listeners to explore your company and brand. To learn more, please visit https://store.aitimejournal.com
---
Do you want to be interviewed by AI Time Journal? Complete the Interview Inquiry Form at https://www.aitimejournal.com/interview-inquiries and we will contact you if you are a good fit!
In this episode of the AITJ podcast, we talk to Edmund Zagorin about strategic sourcing and procurement, predictive analytics, and much more.
—
00:00 Intro
01:26 Edmund’s Journey from Philosophy to Procurement
05:18 Procurement Processes Are Incredibly Important
07:19 Bid Ops Enables High Performing Procurement Teams
09:43 Traditional Problems in Procurement
11:36 Bid Ops’ Self Driving Simulations
14:30 Manual Data Entry and Fragmentation is a Problem
16:02 Humans are Still Needed for Procurement Agreements
18:17 Building a Large Dataset and Analyzing Patterns
20:46 The “Pareto Principle”
21:27 Retrospective Data
22:15 Simulating Competition in Data Categories
24:07 Recommender System
28:32 Expect What’s on the Other Side of a Transaction
31:16 Market Forces Don’t affect Supplier Negotiating Power as much as You Might Think
34:14 Predictability is a Feature of the Product
35:41 Bid Ops is the Most Sophisticated Procurement Tool
38:38 The Three P’s of Procurement
40:03 Get Your Procurement House in Order
42:35 Outro and Credits
—
Edmund Zagorin, _______
https://www.linkedin.com/in/edmund-zagorin-41291b13
Melissa Drew, Associate Editor at AI Time Journal
https://www.linkedin.com/in/m-drew/
Our website – https://www.aitimejournal.com/
—
Sponsor our podcast! With options of sponsoring your own podcast interview or multiple episodes with your 30-second ad featured pre, mid, and post-roll throughout your sponsored episode(s), this is a great opportunity to invite listeners to explore your company and brand. To learn more, please visit https://store.aitimejournal.com
—
Do you want to be interviewed by AI Time Journal? Complete the Interview Inquiry Form at https://www.aitimejournal.com/interview-inquiries and we will contact you if you are a good fit!
