KARL POULSEN
PROCUREMENT TECHNOLOGY
KARL POULSEN
TITLE: CHIEF PROCUREMENT OFFICE
COMPANY: HISCOX INDUSTRY: INSURANCE
LOCATION: BRADFORD, ENGLAND
Karl Poulsen has served as Chief Procurement Officer for both Hiscox and LV =. His tenure as Procurement & SRM Director at Covéa Insurance further proves his expertise in driving high-level strategy and robust supplier relationship management.
of truth, procurement teams are forced to make critical decisions based on partial or misleading information.
Karl Poulsen, of Hiscox, describes how they have addressed this challenge:“ Ivalua is now our, let’ s say, one single source of truth for our vendor master management. So everything goes into Ivalua; it is our golden record.
“ We have a complete vendor master inside of there. We have approval workflows, but also some of our financial security audits go through that as well. That creates a one single source to be able to manage, curate and make sure that we’ re providing the best data going forward.”
The geopolitical map: identifying pressure points To understand the current state of supply chain disruptions, one must look at the specific stressors weighing on UK procurement. According to Ivalua’ s research, the War in Ukraine remains a primary catalyst for instability, negatively impacting confidence for 77 % of organisations.
However, the threat landscape is increasingly multi-polar. US tariffs have undermined confidence for 80 % of businesses, with many expecting further disruption as new rates ripple through the global economy.
procurementmag. com
85