Welcome to the inaugural episode of "Give Me The Mic Talks." This time, we're delving deep into the world of procurement and supply chain, with a special focus on the Middle East, particularly Saudi Arabia. We'll explore the changing landscape of this field, the impact of key figures like His Highness Crown Prince Mohammed bin Salman of Saudi Arabia, and the future prospects for the region and beyond.
Our discussions are influenced by prominent procurement podcasts, like Philip Ideson's "The Art of Procurement," Jonathan O'Brien's "The Procurement Show," and Dawn Tiura's "Sourcing Industry Show." In our podcast, we strive to bring a unique perspective to these topics, offering value and enriching insights to our listeners.
Today's special guest is Abdulmajeed Alghamdi, a distinguished leader in supply chain and procurement with over a decade of experience. Abdulmajeed has made significant contributions as a consultant. His innovative approaches in cost reduction, operational improvement, and tackling production challenges, including managing a 100 million budget and leading a global team during the COVID-19 crisis, demonstrate his resilience and leadership.
The Evolving Role of Procurement
Procurement, historically seen as a back-office, transactional function, has evolved into a strategic business operation. This shift is particularly evident in companies like Saudi Aramco, SABIC, and the Public Investment Fund in Saudi Arabia, where procurement has transitioned from a cost center to a profit center, emphasizing localization, local content development, and business growth.
This evolution has also changed the skill set required for procurement professionals. Where once hard work and determination were sufficient, today's procurement landscape demands skills in digital transformation technologies like AI, blockchain, and big data analytics. Skills in strategic thinking, sourcing risk management, relationship management, sustainability, and ethical sourcing are becoming increasingly critical.
Vision 2030: Shaping Procurement in Saudi Arabia
Vision 2030, a transformative initiative in Saudi Arabia, is reshaping procurement strategies across the kingdom. The vision's focus on diversification away from oil dependency aligns procurement with innovation, sustainability, and economic diversification. This alignment has led to the expansion of new sectors like renewable energy, tourism, and entertainment, creating numerous opportunities for procurement professionals.
However, this transition also poses challenges such as adapting to new regulations, managing supply chain crises, ethical dilemmas, cultural differences, and developing capabilities to meet new quality standards and regulations.
Looking Ahead: The Future of Procurement
The future of procurement is promising yet uncertain, with AI, blockchain, and robotics playing increasingly significant roles. In the short term, procurement offers diverse challenges and opportunities that shape professionals, focusing more on strategic decision-making and data-driven insights.
In conclusion, the procurement landscape is rapidly changing, driven by technological advancements and strategic shifts in business practices. As we navigate this evolving terrain, our podcast aims to keep you informed and prepared for the future of procurement and supply chain management.
Feel free to reach out and let's keep this insightful discussion going. Stay tuned for more enlightening episodes of 'GiveMeTheMic Talks'. As always, I'm here to give you the mic and amplify your voice. 🎤
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Listen to Abdulmajeed and his insightful inputs on Procurement, KSA and vision 2030