“First you need to get control of the data. Once you have that, you can then extend supplier experience workflows to manage the whole supply life cycle, but in a much more coherent way.” – Ragnar Lorentzen

“Data is the King. It’s been the King for a long time, but it’s just now finally, getting center stage and it is changing everything.” – Jeffrey Ostrander

Procurement is currently being faced with two parallel challenges: to improve the supplier experience and also to improve the quality of the data that we gather from and make available to suppliers. Once challenge is relational, and the other is transactional, but we have to address them both at the same time if we are going to realize the full ROI of either.

In this podcast based on a Dial P for Procurement livestream, Jeffrey Ostrander, Head of Supply Transactions, Western Hemisphere for Schlumberger, and Ragnar Lorentzen, Chief Commercial Officer at HICX, join co-hosts Kelly Barner and Scott Luton to share their perspectives on the huge potential of collaborative supplier partnerships, including the strategic value of trustworthy data.

As they interact with a live audience in real time, Jeffrey and Ragnar answer questions such as:
– What buy-side advantages do you see for companies that embrace an expanded notion of supplier partnerships?
– As data becomes increasingly cross functional, how do the lines blur between procurement data issues and enterprise-wide data issues?
– What types of business objectives (risk, compliance, efficiency, etc.) can be achieved through improved supplier information management, and what does success look like?