TYS Podcast S2E5 – Empowering Equality: Strategies and Insights for Advancing Gender Diversity

In our most recent podcast episode, we had the honor of speaking to Renee Ure, a pioneer in promoting gender equality. With over 25 years of experience in various leadership roles at IBM and Lenovo, Renee brings invaluable insights and experiences to the table.

Renee shares her journey, including the challenges and setbacks she encountered along the way. From defining success metrics to measuring progress through concrete KPIs, she provides practical strategies for promoting gender diversity and inclusion at all levels.

The significance of mentorship, sponsorship, and the role of male allies in driving female empowerment within organizations are also discussed.

We invite you to join us as we explore strategies and insights for advancing gender equality in the workplace. Let’s break down barriers and create a more inclusive future for all.

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Did you know? You can discover veteran-owned suppliers on TYS!

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Unlocking the Potential of Data-Driven Procurement Teams with Actionable Insights

by Michelle Armstrong, Chief Relationship Officer

Pssst… The secret to unlocking the full potential of procurement lies in embracing the power of data. With a wealth of raw information at our fingertips, it’s crucial to transform this data into actionable insights that fuel informed decision-making. Learn how to satisfy your thirst for actionable procurement data by leveraging cutting-edge tools and strategies to turn raw information into valuable insights that propel your procurement operations to new heights. 

Rob Handfield, a distinguished professor of supply chain management, emphasizes that digital transformation in procurement is only possible with clean data. When discussing procurement data, we’re really talking about the importance of usable, clean data. 

Despite the vast amounts of data captured, only about 5% is analyzed. With the rapid growth of emerging technologies, we have more data than ever, yet we need more insight. So, how can we convert this information into intelligence? 

Visualizing a New World of Data 

Data visualization is a game-changer in making complex data more accessible and understandable. By presenting data in a visually engaging format, procurement teams can quickly identify patterns, trends, and relationships that might be concealed within raw data. Utilizing data visualization tools like interactive dashboards and detailed reports allows valuable insights to be easily communicated and understood, empowering teams to make data-driven decisions. 

Moreover, data visualization can help procurement professionals monitor key performance indicators (KPIs) in real-time, track supplier performance, and identify potential bottlenecks in the supply chain. By embracing this visual approach, organizations can transform their procurement processes and drive efficiency across the board. 

Collaborative Minds, United Goals 

To unlock the full potential of procurement data, it’s crucial to involve diverse perspectives and expertise. Cross-functional teams, composed of members from various departments, can work together to analyze data and develop innovative solutions. This collaborative approach enables organizations to leverage their employees’ unique skills and knowledge, fostering a culture of open communication and teamwork. 

By breaking down silos and encouraging collaboration, organizations can tap into the collective wisdom of their workforce and drive data-driven decision-making across the enterprise. This united effort leads to more effective procurement strategies and promotes a culture of continuous improvement and innovation. 

Embracing the Power of Predictive Analytics and Machine Learning 

The combination of predictive analytics and machine learning offers a powerful toolset for procurement teams to uncover hidden insights and make more informed decisions. By analyzing historical data, these advanced techniques can identify trends, forecast future outcomes, and recommend actions to optimize procurement processes. 

For instance, procurement teams can use predictive analytics to optimize inventory levels by identifying patterns in demand and adjusting stock levels accordingly. This ensures organizations balance carrying costs and stock availability, ultimately reducing waste and improving efficiency. 

Similarly, predictive analytics can help identify supplier risks by analyzing factors such as financial stability, delivery performance, and compliance. This enables procurement teams to proactively mitigate risks and maintain a resilient supply chain. 

Machine learning can further enhance procurement decision-making by continuously learning from data and refining its predictions over time. This allows organizations to uncover cost-saving opportunities, streamline processes, and stay ahead of the competition in an ever-evolving market landscape. 

Cultivating a Data-Driven Culture 

In her Procurement Magazine interview, Dawn Tiura explained that procurement should be the central hub of a successful enterprise with a culture of service-driven curiosity. This mindset should also extend to mining the gold within data. 

When Satya Nadella became Microsoft’s CEO in 2014, he emphasized creating a data culture to make better decisions based on quality data. Under his leadership, Microsoft has transformed into an organization that values data-driven decision-making, recognizing the immense potential of quality data to drive innovation, efficiency, and growth. 

So, does your organization have a data culture that includes your suppliers? 

To extract the most value from your data, involving stakeholders within and outside your enterprise is crucial. The procurement department must lead in fostering a data-driven culture, harnessing the potential of technologies like AI and blockchain. 

As a service provider, your success is my priority.  

By embracing diverse perspectives, leveraging data visualization, and harnessing advanced analytics, your organization can unlock the full potential of procurement data and drive meaningful business outcomes. 

#ProcurementData #DataDrivenCulture #DataVisualization #Collaboration #PredictiveAnalytics #MachineLearning #DigitalTransformation #EmpowerProcurement #FutureOfProcurement 

Women In Tech: Virtual Reality or Tangible Progress?

by Michelle Armstrong, Chief Relationship Officer

“Digital transformation will not happen without women in procurement.” – Kevin Peesker, President Worldwide SMC & Digital at Microsoft

In a captivating August 2019 article in Italy’s The Procurement Magazine, Jon Hansen shared an insightful interview with the then-president of Microsoft Canada, Kevin Peesker. Today, Mr. Peesker holds the title of Microsoft’s President Worldwide SCM & Digital.

In the article, Hansen highlights a powerful statement by the Microsoft leader: without more women in tech – and STEM professions overall, digital transformation will not happen.

Let’s explore the significance of this statement and the role of women in the digital transformation journey.

Compelling Figures: Time for Progress

When a top executive from a global technology giant like Microsoft emphasizes the importance of women for digital transformation success, the world takes notice. But will this attention lead to sustainable and progressive change? It’s time to move beyond mere agreement and take action to bring more women into the technology industry with equal opportunities and pay.

According to Tech Funnel’s April 2023 article, a mere 25% of workers in technology are women, and an even more disappointing 11% occupy executive positions. These statistics are from 2023 – four years after Hansen’s article.

Additionally, gender diversity in tech leadership fell from 86% in 2020 to 59% in 2021. However, a few positive notes also emerged during this time, like the percentage of women working for Apple increasing from 30% in 2014 to 35% in 2021. And overall, the percentage of women in the tech industry grew by 2% between 2019 and 2021.

Despite these small victories, we cannot ignore the following data:

  • 57% of women in tech feel burned out at work, compared to 36% of men.
  • 1 in 5 women in tech is considering leaving their job.
  • 75% of women in tech are consistently asked to handle more administrative tasks.

So, where does this leave us – men and women alike – in the quest for gender equality in high-tech?

Overcoming Digital Transformation Challenges with Women at the Helm

Digital transformation is impossible without more women “in” procurement and leadership positions across various industries. The key to digital success lies in where that “in” resides.

Tech Funnel reports that gender-diverse leadership teams are “48% more likely to outperform their competitors.” Additionally, diverse management teams generally produce better EBITA results, with HBR stating that margins for more diverse companies are higher than those struggling to gain traction.

Focusing on the tech industry and, more specifically, the digital transformation of the procurement industry, a 2019 Deloitte global survey of CPOs revealed dissatisfaction with their digital transformation strategies, and this was just before the pandemic.

In 2023, numerous reports cite poor data quality, lack of transparency, and failure to adopt technology as the top challenges CPOs face today.

While the lack of women in leadership roles in the tech industry – or any industry – may not be the sole or primary reason for companies’ struggles with digital transformation, it is undeniably a critical factor. A 2018 study on “the influence of gender on the adoption of technology among SMEs” is an excellent starting point for understanding our roles and impact on adopting cognitive procurement solutions, including AI.

Let’s keep the conversation going and empower women to shape the future of technology.

#WomenInTech #VirtualReality #DigitalTransformation #GenderEquality #WomenInSTEM #WomenInProcurement #Microsoft #TechIndustry #TrustYourSupplier #DiversityInTech #EmpowerWomen #FutureOfTechnology