Arkestro: Showcasing the History and Future of Procurement

Arkestro's one-of-a-kind Museum of Procurement, a travelling exhibit that celebrates the past, present and future of procurement, has arrived in Arizona. 

As procurement and supply chain evolves into an increasingly complex function, shaped by increasing global challenges, Arkestro believes it is more important than ever to understand and review its history. 

The exhibit is seen as a way to inspire future supply chain and procurement leaders about the exciting opportunities that lay ahead in this critical business discipline.

How different cultures handled procurement

Arkestro's Museum of Procurement offers an interactive, modular exhibit celebrating notable procurement professionals through the ages and showcasing reproductions of influential documents and instruments from around the world. 

Visitors stand to learn about how different cultures have handled procurement, billing, debt, accounting and other concepts vital to a functioning civilisation.

The museum chronicles the evolution of the procurement function, from the first goods receipt from Babylon written in cuneiform, to the invention of the general ledger and double-entry accounting, ultimately concluding with the invention of ERP systems, the creation of the Internet and, finally, today's predictive procurement technology.

Arizona State University (ASU) is the newest host of the procurement showcase. It will be stationed in ASU's W. P. Carey School of Business for one year, offering students, faculty and industry professionals a compelling glimpse into the vital role procurement has played throughout history and in the future of global business and society.

The W. P. Carey School of Business at Arizona State University is the largest and one of the top-ranked business schools in the US. Internationally regarded for its research productivity and distinguished faculty members, the W.P. Carey School of Business houses the Department of Supply Chain Management, which is consistently ranked in the top three nationally for undergraduate and graduate programmes by US News & World Report.

Supply chain management: Woven into the fabric of society

The exhibit also highlights how supply chain management has become woven into the fabric of today's society, facilitating the seamless flow of goods and services which sustain economies and improve the lives of people.

It will examine the achievements of procurement and supply chains, putting into focus their continued importance in addressing the challenges of a rapidly evolving world.

"The Museum of Procurement serves as a testament to remind us all of the countless ways procurement has shaped our history and highlights how it will continue to define our future," says Dr. Adegoke Oke, Professor and Chair of Supply Chain Management Department.

"By bringing this exhibit to Arizona State University, we are providing our students and the broader community with an unparalleled opportunity to explore the strategic importance of procurement in today's interconnected world. We're especially excited for our supply chain management students to get involved and hope to inspire curiosity for even more students to consider entering a field that will only continue to grow."

Arkestro: Best buying decisions faster

Founded in 2017, Arkestro's Predictive Procurement Orchestration (PPO) taps into the power of behavioural science, game theory and machine learning to help companies make their best buying decisions faster across all addressable spend.

Top enterprises leverage Arkestro to confidently optimise their procurement cycles with direct actions and clear recommendations, managing spend at scale without increasing headcount.

Edmund Zagorin, Founder and Chief Strategy Officer at Arkestro, adds: "At Arkestro, we are no strangers to the significant ways procurement defines the world around us.

"It's evident that ASU shares our enthusiasm for the art of procurement and its importance in our global economics. I could not think of a better setting for our travelling museum's next destination."

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