Why identifying what's truly important in procurement negotiation matters most – and is bot talking to bot the future of AI Negotiation?
In this episode of AI Negotiation Unlocked, Rosie speaks with Janet Lung Standing, Founder of Janet Standing Consultancy and ex-Johnson Matthey CPO, who shares her extensive career journey in building procurement teams from the ground up.
They discuss insights into why pricing is the least important part of the negotiation and how agent tech can free us from repeated tasks and let us solve customers' problems better.
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Discussed this episode:
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How a procurement function was built from scratch for Johnson Matthey: Why focusing on partnership over more than just price is essential in procurement.
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Why supplier relationships are critical for business success: Janet covers the emotive side of negotiations, and why the right suppliers may be "even be more critical than customers."
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Where AI can drive social impact in procurement practices: Rosie and Janet discuss the rapid pace of change in procurement tech, and how to stop being focused o the 'urgent' rather than the 'important'.
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The future of AI in procurement tech: How soon will we see bots negotiating with bots, and will we lose what makes negotiation feel 'human'?
The Key Takeaway from this episode of AI Negotiation Unlocked
AI is changing the procurement world rapidly, and has the potential to free enterprise leaders up to stop focusing on the 'urgent' problems they find themselves firefighting every day and instead giving them back time to look at more strategic decisions. If implemented well, AI has the potential to redefine procurement teams and let them focus on important issues again – but it relies on innovation from the top.
Stay tuned for more insights on AI-powered negotiation in future episodes of AI Negotiation Unlocked.
Can't wait? Find out more from Nibble's experience negotiating 100,000 times a month here.
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