Rutgers Business School to Host Arkestro’s Museum of Procurement
One of a Kind Museum Celebrating Procurement’s Storied History and Exciting Future to Take Semester-Long Stop in Newark, NJ
NEWARK, NJ and SAN FRANCISCO, CA, September 12, 2023 – In an era when procurement has taken center stage, Arkestro’s Museum of Procurement will begin an interim residence at Rutgers Business School in Newark, NJ, following an exhibition at the Sam M. Walton College of Business at the University of Arkansas.
The one-of-a-kind museum highlights the past, present and future of procurement, and serves to inspire future supply chain and business leaders about the exciting opportunities that lay ahead in this increasingly important business discipline. There will be a ribbon-cutting ceremony to mark the occasion on Tuesday, September 12, 2023, from 10:30 – 11:30 a.m. ET, at the Rutgers Business School Newark Campus, 1 Washington Park, Newark, NJ.
“The past few years have exposed just how crucial the procurement function is to maintaining access to the products and supplies we depend on every day – everything from food to consumer-packaged goods, to modern technology devices and life-saving medicines,” says Dr. Arash Azadegan, Ph.D., professor and vice chair of the Supply Chain Management Department at Rutgers Business School. “There has never been a more optimal time for business students to seriously consider careers in procurement. Our hope is that the museum will fuel excitement and enthusiasm among current and future procurement leaders as they gear up to address existing constraints and optimize critical procurement systems.”
Arkestro’s Museum of Procurement is an interactive, modular exhibit highlighting notable procurement professionals through the ages and reproductions of influential procurement documents and instruments from around the world. Visitors to the museum will learn more about how different cultures handled procurement, billing, debt, accounting, and other concepts vital to a functioning civilization. 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 to double entry accounting, ultimately concluding with the invention of ERP systems, the creation of the Internet and, finally, today’s predictive procurement technology.
“Rutgers has been a powerful champion in expanding and diversifying talent for the supply chain profession through robust coursework, and encouraging students to consider the role of supply chains in business operations and in our daily lives,” says Edmund Zagorin, CSO, Arkestro. “For anyone interested in creating the future of the procurement and supply chain profession, forging a bridge with the past is critical, and we think Rutgers is an ideal setting for our traveling museum’s next premier destination.”
Founded in 2017, Arkestro’s Predictive Procurement Orchestration (PPO), taps into the power of behavioral 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 optimize their procurement cycles with direct actions and clear recommendations, managing spend at scale without increasing headcount. See Arkestro in action at arkestro.com.
About Rutgers Business School:
Rutgers Business School–Newark and New Brunswick is an integral part of one of the nation’s oldest, largest, and most distinguished institutions of higher learning: Rutgers, The State University of New Jersey – founded in 1766. For additional information, visit business.rutgers.edu.