421: Applying Cognitive Technology to Procurement w/ Melissa Drew

We have observed a huge surge in investment in procurement technology startups over the last 12 months, and many of them are leveraging new 'cognitive' technologies to be smarter and more intuitive than the procurement technology of years past. In order to truly understand the value proposition of these solutions, procurement needs to have a solid grasp of what cognitive technology is and how its introduction will impact current technology, processes, and talent. ​​In this episode, host Philip Ideson speaks with Melissa Drew, an Associate Partner at IBM. Melissa has 27 years of procurement and supply chain experience, from both an industry and consulting perspective. She collaborates with organizations to reimagine how companies should look in order to remain competitive and was recently recognized as a global leader in consulting in the 'Excellence in Influence' category. Since most procurement organizations are in the early stages of thinking about cognitive technology, Philip asks Melissa questions about: What is cognitive technology really versus what we might read and hear in 'hyped' product marketing literature? Where should companies be looking to apply the advantages of cognitive technology to their current procurement processes? The critical need for procurement leaders to invest in the data literacy of their organization