How to Design Procurement with Total Cost of Ownership in Mind with Louis Bastone
World of Procurement
Louis Bastone Louis Bastone is an Indirect Procurement Pro with a Supply Chain Masters Degree. This is evident in that Louis is an avid reader and consumer of content in this space. He also knows a lot and decided to give us all a lot of value in this episode talking about Total Cost of Ownership. Total Cost of Ownership is the principle of knowing and ensuring you procure goods/services that include the soft/hard costs of the goods or services. Yet, this is often neglected at the Procurement Stage and manyOrganisations end up paying out large sums of money on repairs, maintenance or additional services as these were not considered or requested. Louis breaks down Total Cost of Ownership and gives us a practical and useful way of applying it in your day to day work. Connect with Louis on LinkedIn - https://www.linkedin.com/in/louis-b-0695b749/ Check out the books that Louis recommended: Purchasing Advantage by Running a World Class Purchasing Organization, by Omid Ghamami . Buy it here US - https://amzn.to/2C5wkhH UK/EU - https://amzn.to/3iF3pC6 World Class Contract Management - The Ultimate Reference Guide for Purchasing, by Omid Ghamami. Buy it here: USA - https://amzn.to/2Z1xKTu UK/EU - https://amzn.to/2ZGIvtB
242: Moving Up or In to Procurement w/ Louis Bastone
Art of Procurement
We often discuss the impact that procurement talent has on current results and the role it will play in determining how our function evolves in the future. The procurement community is vibrant, diverse and defined, but we need to remember that some of our best future team members are currently either in college or working in other functions. How we represent ourselves to them will determine how soon and how willingly they join our ranks. I’m joined today by Louis Bastone, Indirect Category Manager for ASMC, a manufacturer of chip-making machines in the semiconductor industry. 9 out of 10 times when you ask someone how they ended up in procurement, their answer involves some an unexpected career twist. Not Louis. He took procurement courses in college while pursuing a degree in Integrated Supply Chain Management. In this interview, Louis shares the role that creativity, enthusiasm and influence have on performance and job satisfaction as well as our elevation from tactical to strategic work. He also provides interesting insight into the entrepreneurial appeal of working in procurement and how newcomers can balance an affinity for their adopted function while not losing the critical edge of a broad, cross-functional point of view. As Louis explains, we’re all on a journey. How far we get is mostly a matter of perspective. His advice is to focus on the professional experiences you want to have rather than the title you’re hoping to get.