Procurement Podcast: Cost, Risk & Value with Man Industries

Procurement is undergoing a significant transformation, and the first episode of Procurement Magazine’s Weekly Podcast Series captures that shift through a candid and wide-ranging conversation.

In Episode 1, titled “The Real Cost Does Not Include What You Paid”, host Aaron McMillan speaks with Manish Lunker, President of Group Procurement and Strategy at Man Industries India. With more than 30 years of experience across steel, infrastructure, and global supply chains, Lunker brings a grounded perspective on how procurement is changing in practice, not just in theory.

Rather than focusing solely on cost reduction, the discussion explores how procurement leaders are now expected to think more broadly about value. Lunker explains how decisions that once centred on price are increasingly shaped by risk, supply continuity, and long-term business stability. This shift reflects the growing importance of procurement as a strategic function within organisations.

A key thread throughout the episode is the reality of operating in uncertain and volatile markets. From fluctuations in raw material prices to ongoing global supply chain disruption, Lunker discusses how these pressures are forcing companies to rethink supplier relationships and sourcing strategies. He also shares how resilience is now being weighed alongside cost in day-to-day procurement decisions.

The conversation naturally moves into how global sourcing models are evolving. Lunker highlights how many organisations are rebalancing their supply chains through regionalisation strategies, including approaches such as China Plus One. These changes are not just about diversification, but about building more predictable and flexible supply networks.

Sustainability also comes into focus as part of this broader shift. Rather than being treated as a standalone agenda, ESG considerations are increasingly embedded into procurement decisions, influencing how suppliers are evaluated and selected.

Technology is another important part of the discussion, particularly the growing use of data, AI, and predictive tools. Lunker talks about how these capabilities are helping procurement teams move towards more informed and forward-looking decision-making, rather than relying purely on historical patterns or reactive sourcing.

The episode closes on the future of the profession itself, with a focus on the evolving skill set required for procurement leaders. Lunker points to a blend of analytical capability, commercial awareness, and cultural understanding as essential for navigating increasingly complex global supply chains.

Overall, the episode offers a grounded and practical look at how procurement is being redefined in real time, and what that means for businesses trying to balance cost, risk, and long-term value.

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