Procurement comes home to W. P. Carey

The Museum of Procurement is dedicated to celebrating the supply chain field's rich history.

From ancient trade routes to modern predictive technologies, procurement — the purchasing process, debt management, billing, and accounting — has been the backbone of civilizations, shaping how societies handled trade and resources. Now, the W. P. Carey School of Business is home to Arkestro’s Museum of Procurement, a traveling exhibit that brings this rich legacy to life while showcasing its evolution. Located on the second floor of McCord Hall, the exhibit will be open to the public through December.

"Procurement is one of the most important aspects or pillars of supply chain management," said Adegoke Oke, professor and chair of supply chain management. "The installation provides a bridge between academia and real-world practice, offering our students and the business community a unique perspective on the evolution of procurement."

During the museum's ribbon-cutting ceremony on Jan. 24, Ohad Kadan, Charles J. Robel Dean and W. P. Carey Distinguished Chair in Business spoke about the school’s deep ties to procurement.

"It is part of our DNA, part of who we are," said Kadan of the school's relationship to procurement. "I'd like to thank Arkestro for bringing this exhibit here and telling us about the history of procurement."

Edmund Zagorin, Arkestro’s chief strategy officer, emphasized the critical role procurement plays in everyday life.

"I believe that some of the most meaningful work done in any business or organization is done by procurement and supply chain professionals," said Zagorin. "When you think about what's in your home… everything you see made its way to where you see it by traveling through a supply chain and moving through a procurement process. In that process, there is immense power, and it is power that is often unrecognized."

Oke expressed his hopes for the museum's impact, highlighting its potential as a knowledge-sharing and networking opportunity for students and professionals passionate about the supply chain management field's history.

"The reputation of W. P. Carey's supply chain management department was built on its early ground-breaking contribution to procurement research, traditionally referred to as 'purchasing,'" said Oke. "One can say that by hosting the museum in W. P. Carey, 'procurement has come home!'"

In celebration of the installment, Oke sat down with ASU News to discuss how the museum addresses procurement's past, present, and future.

Question: What is the significance of W. P. Carey hosting the Museum of Procurement this year?
Answer: The museum has the potential to inspire current and future leaders in the procurement and supply chain management fields. Hosting the installment aligns with the school's commitment to advancing knowledge and fostering innovation in supply chain management.

Q: Why is it important for supply chain students to understand procurement's history?
A: Procurement is one of the most important aspects of supply chain management. By engaging with the historical context of procurement, students and professionals can gain a deeper appreciation for the profession's evolution and understand its fundamentals and critical role in global supply chains, even as technology has made advancements in the field.

Q: What role does the Museum of Procurement play in fostering community among procurement and supply chain students, professionals, and enthusiasts?
A: The space provides knowledge-sharing and networking opportunities for students, faculty, and professionals and serves as an educational hub around which people can gather, discuss, and learn about the evolution of procurement practices from ancient trade systems to modern digital innovations. It also encourages participation from diverse audiences, bridging gaps between students, faculty, and seasoned professionals. It could become a place to visit for various events organized by the supply chain management department, and other departments within W. P. Carey, and ASU at large.

Q: Why is understanding the future — and past — of procurement today more important than ever?
A: Whether you are engaging in forecasting or predictive analytics, the importance of having historical records to guide predictions cannot be overemphasized. By understanding the evolution of procurement — from manual ledgers to ERP (enterprise resource planning) systems — professionals are better able to appreciate the trajectory of innovations and prepare for and adopt emerging trends like AI, blockchain, and predictive analytics.

Q: What skills are most necessary for supply chain students to develop today to be successful in the evolving supply chain industry?
A: Data analysis and digital literacy skills are quickly becoming the "order qualifier": Students need to have these skills to be in the field at all! "Order winners," or desired skills that set students apart, are also important and include strategic thinking, adaptability, communication and negotiation skills, resilience, problem-solving skills, cultural awareness, leadership, and collaboration skills.


By hosting the Museum of Procurement, the W. P. Carey School of Business — ranked No. 2 in undergraduate supply chain and logistics and No. 3 in graduate supply chain programs by U.S. News & World Report — honors its legacy as a leader in supply chain education while inspiring the next generation to shape the future of procurement.