标签： Trinidad and Tobago

The procurement profession stands at a pivotal crossroads, according to industry veteran John Dickson, who delivered a compelling keynote address at the Chartered Institute of Procurement and Supply’s (CIPS) Caribbean Conference and Awards 2025. Speaking before regional supply chain leaders at Port of Spain’s Hyatt Regency on December 10, Dickson argued that procurement must fundamentally transform from its traditional cost-cutting role into a strategic driver of organizational value, resilience, and competitive advantage.

Dickson employed a powerful iceberg analogy to illustrate how most organizations perceive procurement: “The one-ninth that a business sees is typically about cost reduction and cash generation,” he noted, emphasizing that the profession’s true depth and strategic importance remain largely submerged from executive view.

The conference, hailed as the Caribbean’s premier gathering of procurement specialists, convened professionals across government, energy, telecommunications, logistics, and finance sectors. Sessions explored cutting-edge topics including artificial intelligence implementation, data analytics applications, and supply chain risk management.

Drawing from four decades of industry experience, Dickson outlined procurement’s evolutionary trajectory: from 1990s cost control mechanisms through 2000s process efficiency reforms to 2010s digital transformation. The current era, he suggested, represents “true intelligent integration” powered by AI, automation, and machine learning technologies.

However, Dickson cautioned against technological determinism, stating: “Procurement needs to align intelligence with purpose. It’s not enough to say technology will do everything for us.” He challenged delegates to consider whether their function merely influences spending patterns or actually shapes business strategy at the highest levels.

His address resonated with broader regional concerns about supply chain vulnerabilities. Earlier panels had examined Caribbean-specific challenges including hurricane exposure, fuel price volatility, and global trade disruptions, proposing mitigation strategies such as redundancy planning and predictive analytics.

Dickson emphasized that procurement must evolve from reactive problem-solving to predictive scenario planning. While acknowledging that not all risks can be anticipated, he insisted the profession bears responsibility for organizational protection in increasingly volatile operating environments.

Highlighting his experience during AstraZeneca’s unprecedented eight-month COVID-19 vaccine development, Dickson demonstrated how crisis collaboration transcended traditional supplier negotiations. “That whole concept of having a common goal was critical for that ecosystem to come together,” he recalled, underscoring how shared purpose accelerated innovation.

This informed his perspective on sustainability, which he framed not as competitive advantage but as essential risk mitigation: “I do see sustainability as a competitive disadvantage if you don’t engage with it.” He advocated for collective action within industries sharing supplier networks.

Addressing emerging threats, Dickson highlighted cybersecurity as a critical procurement concern, referencing major attacks that have cost organizations hundreds of millions. He positioned procurement as central to resilience-building through supplier vetting, market analysis, and risk anticipation.

Despite technological advancements, Dickson firmly rejected the notion of human obsolescence: “Human-centric talent isn’t going away. It’s going to shift. It’s going to be different.” He encouraged leaders to embrace reverse mentorship from digitally-native junior colleagues.

Concluding with an agricultural metaphor, Dickson urged organizations to focus on foundational elements: “Looking after the soil. Cultivating the soil, look after your people. Care for your people. Know your people.” For a profession historically defined by savings metrics, he envisioned a future prioritizing strategic integration, purposeful collaboration, and the translation of intelligence into consequential business decisions.

In a significant workforce development initiative, five electrical program graduates have been selected for a two-month professional placement at Angostura Holdings beginning January. The selection follows the completion of an intensive nine-week training program called ‘Wired for Success,’ funded by the renowned beverage company and administered in partnership with the NESC Technical Institute (NESC-TI).

The specialized curriculum focused on residential electrical installation with commercial applications, attracting approximately 600 applicants within days of its September 30 announcement. From this pool, thirty participants from diverse national communities were chosen to undergo the rigorous training regimen.

During a December 17 graduation ceremony at Angostura House in Laventille, successful participants received NESC-TI certifications aligned with Caribbean Vocational Qualification standards. The event was attended by key figures including Hansen Narinesingh, Parliamentary Secretary in the Ministry of Tertiary Education and Skills Training, Angostura Holdings Chairman Gary Hunt, NESC-TI President Kern Dass, and Acting Angostura CEO Ian Forbes.

Gary Hunt emphasized the program’s practical objectives: ‘Our aim is to provide real-world, job-ready skills that open doors. Through programmes like Wired for Success, participants have not only built technical capability but have also developed responsibility, confidence, and the professional readiness needed to succeed in a growing field.’

The comprehensive training covered critical areas including lock-out/tag-out safety procedures, electrical laws and circuit analysis, code compliance, conduit bending and installation, and the operation of electrical testing instruments. Participants additionally gained exposure to commercial electrical applications, including foundational knowledge of splitter units used in multi-unit buildings—providing them with competitive advantages in the job market.

Kern Dass highlighted the successful industry-education partnership: ‘Wired for Success demonstrates the impactful results achievable through collaboration between industry and NESC-TI. We take pride in partnering with Angostura to deliver relevant training that equips participants with practical, employment-ready skills.’

The two-month on-the-job training component will enable the five selected graduates to apply their newly acquired expertise within Angostura’s operational environment, representing both a workforce transition opportunity and an investment in developing the next generation of electrical professionals.

Veteran procurement leader John Dickson has issued a compelling call for the profession’s fundamental transformation, challenging deep-seated industry conventions during his keynote address at the Chartered Institute of Procurement and Supply’s Caribbean Conference and Awards 2025.

Addressing regional supply chain leaders at Port of Spain’s Hyatt Regency on December 10, Dickson argued that procurement stands at a critical inflection point, requiring a decisive move beyond its traditional cost-cutting obsession. He proposed a radical repositioning of the function as a strategic driver of organizational value, resilience, and long-term competitive advantage.

Dickson employed a powerful iceberg analogy to illustrate how most organizations perceive procurement: “The one-ninth that businesses see typically concerns cost reduction and cash generation,” he noted, emphasizing that “what drives this function runs much deeper than surface-level financial metrics.”

Drawing upon four decades of industry experience, Dickson traced procurement’s evolutionary trajectory from 1990s cost control through 2000s process efficiency reforms to the digital transformation era of the 2010s. The current phase, he asserted, represents “true intelligent integration” fueled by artificial intelligence, automation, and machine learning technologies.

However, Dickson delivered a crucial caveat against technological determinism: “Procurement needs to align intelligence with purpose. Technology alone cannot deliver meaningful change. The critical question becomes how digital tools mold into organizational direction and strategy.”

This technological integration directly connects to procurement’s strategic relevance. Dickson challenged professionals to examine whether their function remains deeply embedded within business ecosystems or merely influences spending patterns: “When discussing the broader business agenda, that’s where procurement sometimes underperforms,” he observed, referencing conversations with executives who question why procurement rarely features at board-level discussions.

The address gained particular resonance within the Caribbean context, where regional vulnerabilities including hurricane exposure, fuel price volatility, and global trade disruptions dominated earlier conference panels. Dickson emphasized that these realities demand procurement’s evolution from reactive problem-solving to predictive scenario planning, even when not all risks can be anticipated.

He illustrated this imperative with a compelling case study from AstraZeneca’s COVID-19 vaccine development, which achieved in eight months what typically requires six years. This breakthrough succeeded because “suppliers didn’t engage in usual trading off or negotiation—we lacked the time. The concept of shared purpose proved critical for ecosystem collaboration.”

This experience fundamentally shaped Dickson’s perspectives on sustainability, which he reframed not as competitive advantage but as potential disadvantage when ignored: “I perceive sustainability as competitive disadvantage when organizations fail to engage collectively, particularly in industries relying on shared supplier bases.”

While addressing growing cybersecurity concerns and resilience-building through supplier risk assessment, Dickson firmly rejected notions of human obsolescence: “Human-centric talent isn’t disappearing—it’s transforming. Leaders should remain curious and learn from younger, digitally-fluent colleagues rather than pretending to master every emerging technology.”

Returning to his central thesis, Dickson concluded that people remain the foundation of procurement performance: “Cultivate the soil. Care for your people. Know your people.” For a profession historically defined by savings targets, he asserted that future success hinges on deeper integration, shared purpose, and translating intelligence into consequential decisions—particularly in disruption-prone regions where theoretical concepts must yield practical resilience.

In a significant move consolidating state influence over Trinidad and Tobago’s financial sector, Republic Financial Holdings Ltd has undergone a comprehensive board reconstitution effective December 15. The appointment of Yashmid Karamath as chairman this week finalizes the government’s pledge to assert stronger control over the nation’s most extensive banking network, casting doubt on prospects for banking liberalization.

The leadership transition follows the retirement of former chairman Vincent Perreira, 70, who steered the institution through a period of remarkable financial growth despite customer service complaints. Under Perreira’s tenure from 2020 onward, post-tax profits demonstrated consistent growth: from $1.3 billion in 2021 to $2.2 billion in 2025, while total assets expanded from $109.2 billion to $127.1 billion. This financial performance occurred against the backdrop of pandemic-related economic challenges, though service quality concerns persisted among account holders.

Karamath assumes leadership amidst broader board restructuring triggered by the untimely passing of director Mark Loquan and resignations of Waltnel Sosa and Shameer Mohammed. The newly configured board features several government-backed appointments including Timothy Affonso (public international law expert), Nalini Bansee (legal practitioner), Rhion Karim (security and counter-terrorism specialist), Patricia Mohammed (gender scholar with economics training), Sandra Sookram (economist), and Gregory Armorer (civil attorney). This directorate is mandated to serve a three-year term.

This governance shift aligns with Finance Minister Davendranath Tancoo’s October budget commitment to install a majority director bloc at Republic Bank, echoing similar changes at First Citizens and EximBank. The administration has explicitly stated intentions to collaborate with these financial institutions and the National Insurance Board to fulfill public sector obligations.

Ownership structure analysis reveals substantial government-linked entities hold dominant stakes: National Investment Fund (29.9%), National Insurance Board (18.8%), Trintrust Ltd (7%), and other state-connected holders. This ownership framework, originating from the 2008 Clico bailout, now appears permanently institutionalized under the current administration.

While the new board establishes nominal government oversight with purported operational independence, industry observers express concern regarding this trend’s implications for privatization and competitive banking. The critical question remains whether heightened state involvement will ultimately benefit consumers who continue grappling with service deficiencies, elevated fees, unfavorable interest rates, and foreign exchange scarcity.

In response to mounting challenges facing job seekers in today’s intensely competitive employment landscape, the Association of Chartered Certified Accountants (ACCA) has introduced an innovative digital solution. The newly launched ACCA Virtual Skills platform specifically targets Generation Z professionals and career entrants seeking to distinguish themselves during application and interview processes.

This comprehensive digital resource center provides ACCA members and affiliates with practical career preparation tools developed through professional expertise. Lindsay Degouve de Nunques, ACCA’s Director of Brand and Marketing, emphasized the organization’s commitment: ‘ACCA is dedicated to equipping our members and future members with the skills and knowledge essential for career success. This practical resource empowers new professionals to approach their futures with greater confidence.’

The platform addresses identified gaps in practical career guidance through two primary components. First, a series of on-demand interview preparation videos cover critical career topics including CV crafting, creating impactful first impressions, optimizing LinkedIn profiles, appropriate interview attire, navigating compensation discussions, and formulating strategic questions.

Second, visually engaging virtual flashcards distill key insights from ACCA’s research on artificial intelligence, technology, global economics, and sustainability. These downloadable resources serve as conversation starters during networking events and provide substantive talking points for interviews.

Developed in direct response to employer expectations regarding candidates’ soft skills, the platform has already garnered positive feedback from recruitment professionals. This initiative represents ACCA’s ongoing investment in future-oriented employment capabilities and complements the existing career support services offered through ACCA Careers, the organization’s specialized accounting and finance recruitment platform.