February 13, 2026 • 47 mins
Stephen Grootes spoke to financial advisor Warren Ingram about the key financial considerations when buying a home; to organisational behaviour specialist Siphiwe Moyo about how “just be yourself” can become an authenticity trap in leadership; to trend translator and future finance specialist Bronwyn Williams about Sophie Gilbert’s Girl on Girl and how pop culture’s portrayal of women is shaped by business incentives; and to supply‑chain expert Lerato Sebata about how modern supply chains work, why they’ve become more complex, and what causes costly disruptions.
The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.
Thank you for listening to a podcast from The Money Show
Listen live Primedia+ weekdays from 18:00 and 20:00 (SA Time) to The Money Show with Stephen Grootes broadcast on 702 https://buff.ly/gk3y0Kj and CapeTalk https://buff.ly/NnFM3Nk
For more from the show, go to https://buff.ly/7QpH0jY or find all the catch-up podcasts here https://buff.ly/PlhvUVe
Subscribe to The Money Show Daily Newsletter and the Weekly Business Wrap here https://buff.ly/v5mfetc
The Money Show is brought to you by Absa
Follow us on social media
702 on Facebook: https://www.facebook.com/TalkRadio702
702 on TikTok: https://www.tiktok.com/@talkradio702
702 on Instagram: https://www.instagram.com/talkradio702/
702 on X: https://x.com/CapeTalk
702 on YouTube: https://www.youtube.com/@radio702
CapeTalk on Facebook: https://www.facebook.com/CapeTalk
CapeTalk on TikTok: https://www.tiktok.com/@capetalk
CapeTalk on Instagram: https://www.instagram.com/
CapeTalk on X: https://x.com/Radio702
CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
You're listening to the best of The Money.
Speaker 2 (00:04):
Show, the Mine Show. Welcome to the Best Bits of
the Money Show, a digest of some of the best thoughts, comments, insights,
and interviews from the show this week. If you'd like
to hear more, please go to our website or your
podcast app and search for The Money Show. Would be
nice as well if you shared it with someone you
thought might find it interesting. Might be that neighbor might
start a nice conversation. Could well be a good conversation
(00:27):
starter for you to start. Some of the news stories
that we thought were interesting and important from the week
that was there was the invest in Africa mining in Daba.
So many people were there this week. Lots of conversations
about extracting minerals, about investment, about financial models, but also
about ensuring that mining drives inclusive growth and strengthens communities.
(00:49):
Lots of talk about that this week. The private equity
firm Haruth General Partners spending some money we don't know
how much on the airline fly Sapphire their expanded their
trans portfolio on the continent. And the energy regulator finally
incorporating the mistake that it made ESKN won that court
case it seems to win them all against nurser. As
(01:10):
a result, electricity prices this year are going up by
eight point seven six percent from April. They'll go by
something similar next year. Very very expensive mistake. Tonight we
bring you a mixture of stories from the world of
money from the week that has been in personal finance.
This week we're on Ingram, the certified financial planner at
Galileo Capital, looked at buying a new home. There are
(01:34):
so many hidden costs, things you don't expect. You also
had some interesting comments and some of the longer term
considerations that everyone should keep an eye.
Speaker 3 (01:42):
I think if you're going to stay in a house
for eight years or longer, probably ten years longer as
to be safe, then you should really think about buying
a home. But it's something we always need to talk
about because there are a lot of people in South
Africa who who just can't get away from bricks and water.
It's the thing they want to buy more than anything else,
so we need to help them think about it.
Speaker 2 (02:03):
It's also, i mean, no matter what happens, it's such
a big commitment. At twenty year commitment, there's so many
different factors that can really make a big difference.
Speaker 3 (02:12):
Yeah, I think for most South Africans. But buying your
home is probably the biggest transaction will ever do, biggest
financial transaction will ever do. And so you know, a
lot of the time when you talk to people that
have bought homes, see that they didn't know what they
didn't know. They fell in love with the place, or
rushed the deal, et cetera. And so it's I mean,
(02:36):
for me, it's something where if you're going to make
this kind of a commitment, you should do it. You know,
there will always be emotion involved. You have to live
in the place. You have to you know, you have
to enjoy being there. But before you, you know, you
allow yourself to get to get involved in emotion, you
have to have some pretty good idea of the financial
implications of what you're going to do, and make sure
you've done your homework. You're financially prepared, psychologically prepared, because
(02:59):
there will be shocks along the way, and make sure
that you can deal with those shocks as they come.
Speaker 2 (03:04):
Okay, let's get into some of the costs. And quite
a few costs are upfront and you don't always think
about this when you're looking at a house and you're
looking at the price and you're thinking, well that pull,
I could make that bluer than the sky has it.
But the upfront costs are rarely even if you get
a big bond, really more than you than you would expect.
Speaker 3 (03:25):
Yeah, I think it's one of those things where we
we kind of think, you know, if we can convince
the bank, you know, with our first bond, the first
time we buy a house, to convince the bank to
give us, you know, one hundred percent bond that that
you know, we've scraped together some cash and that'll be
okay to get through whatever the costs are that we need.
And then we'll start, you know, the following month paying
(03:45):
down the bond and everything will be okay. I wish
it was that easy. That that's not really the case.
So we need to prepare for a few costs when
when we're going into buying a house, and and when
I say haus, it could be a house, it could
be in a pot artment, you know, in an estate,
et cetera. And the first thing is there are always
lawyers involved in the process. And and so when you
(04:09):
register a bond on a property, for example, you go
to a bank and you say, will you will you
lend me the money to buy this house? The bank says, sure,
no problem. What happens now is the bank becomes in
essence the real owner of the property until you've paid
it off. And and so what happens is they they
appoint a lawyer who registers bond on the property and
(04:30):
that bond says that you know, you know, yes, Warren,
Warren is the person that's names on the title deed,
but alongside Bank ABC, and until such time as Bank
ABC says differently, what Warren can't sell that place without
the bank's approval. So there is a bond registration process,
and and then that that's not the only thing, because
(04:51):
we also have to pay some tax. You know, SORRS
is not going to let you buy and sell properties
along the way without trying to claim some money as well.
And so if you've got a property and it's worth
more than one point two million round, then you're going
to pay bond fees and you're going to pay transfer
fees to SARS as well. And so just be careful
(05:12):
there because those transfer costs can add up very quickly.
And I did a quick calculation. I'm not pretending to
do this in my head. But for around a two
million round property, these upfrond costs are are going to
be pretty close to about one hundred and twenty thousand
Rand when you go in, and for a five million
property it's going to jump significantly around five hundred thousand.
(05:36):
So that's the lawyer fees, it's the taxes to sars,
the transfer duties, so all of those costs are hitting
you upfront before you've even paid for the geezer, which
is probably going to burst on the first week that
you move into.
Speaker 2 (05:50):
Your property only if the mother in law's come for
tea weren't okay, you can get one hundred was a
time when you could get one hundred and one one
hundred and two percent mortgage. I think those days, thankfully
are long gone. But even if you get a bond
for one hundred percent, should you still consider putting down
(06:11):
a deposit? I mean, is there a gain to you
in doing that?
Speaker 3 (06:15):
I think it's it's it's the trade off between you know,
what can you do upfront on a monthly basis how
much have you saved? Because the moment you put down
a deposit, the benefit to you is that your you're
either you keep your repayments a bit lower. So you know,
if you owed, let's say it was ten thousand a month,
but now you put down a deposit and it's a
(06:37):
decent deposit, you might find that you only need to
pay nine thousand a month. And so that's the one
way of saving yourself some money on a monthly basis
and creating a bit of space in your budget is
put down a big deposit, and the bigger the deposit,
the smaller the monthly repayments. The alternative is that you
put down a nice deposit and you don't pay less.
(06:59):
In other words, you still pay your ten thousand round
a month. And if you do that, you're going to
take years off the life of the bond. So most
of the time when we get a bond in South Africa,
the banks will give it to us for a twenty
year period. And the bigger the deposit on day one,
and the more consistent you are and paying a bit
extra every month, you can start to cut off periods
of you know, six to eight years on a bond
(07:22):
just by paying a deposit on day one. And so
I mean to me, you know, I think the other
thing around a bond and maybe paying a bit extras.
It becomes a very nice place to build up an
emergency fund, you know, because you're going to need an
emergency fund when you own a property. So if you
view nothing else, then pay the extra money that you
would have stored for your emergency fund as your deposit
(07:46):
if you can. And I think maybe my last comment
there on this, Stephen is just make sure with the
banks that this is if you pay the extra money
into the bond as a deposit and it's more than
what they require, that you can draw out the extra
money when when the world falls apart and you need
that money for an emergency.
Speaker 2 (08:07):
Seven two seven oh two one seven oh two. What
did you learn when you bought a home for the
first time that you didn't know before about finances? I
don't mean check the outside, loo, I do mean about finances.
What did you learn through the process. The other thing is,
and I mean I remember going through this, you need
to know how much you can actually pay every month,
(08:28):
and sometimes that can be quite hard to work out.
Speaker 3 (08:32):
Yeah, I mean certainly as a as a recovering property.
By this was the one that caught me out. I
think I did very well on understanding the upfront costs
are and I had a nice emergency find I did
put down and deposits, and then sort of by the
second or third month of home ownership, I just realized,
you know, that the money so much tighter than I
thought it would be, and I didn't really understand what
(08:54):
was going on. And so just to think it through.
The first thing is you've paid tax to sorrows on
the transferred US. But now that you're a homeowner, you've
got a new government body that's involved in your life
and they don't go away for the rest of the
time that you own a property, and that's called the
local municipality because they want to charge you something called rates.
(09:16):
And the reason they charge your rates is because they
are going to provide services like sewerage access and refuse
collection and all of those things. So for that they're
going to charge you a monthly rates. And in certain areas,
the Western Camp is one of them, those are going
up fairly quickly. And so again you need to know
(09:38):
that you know, it's not just you know your monthly bond,
it's now these rates and you know year one, once
you've done the homework, you might say, okay, well, that's fine.
I can pay the rates you know as there are now.
But if those rates are going up faster than inflation,
then you need to have an extra amount saved for
the following year because these rates are only ever going
(09:59):
to go And in addition to rates, if you live
in an apartment or in an a state or a
townhouse and you're part of a complex, then you're going
to pay rates, and you're going to pay a levee.
And that levee goes to the body corporate or the
homeowners association. And the reason you're paying them is because
they will have responsibility for certain parts of the building
(10:21):
on the outside. So, for example, in an apartment block,
the body corporate will be responsible for maintaining the roof
and the building on the outside, and so you know
every number of years they're going to paint that, they're
going to have to redo the paving every now and then,
and make sure the roof doesn't leak at all of
those things, and so you pay a levee to them
(10:42):
as well. And that's not a negotiable thing. That's not
something you can decide to pay or not. If you're
an owner, that means you're a part owner of a
whole building, and you are expected to pay, and if
you don't pay, you're going to get yourself into even
deeper financial struggers than what you thought. So make sure
that you pay these things, because you've got to pay
(11:03):
these This is not something you can just avoid or
ask for a payment holiday.
Speaker 2 (11:09):
And I mean those can even when you've been living
in a place for a little while, suddenly there can
be increases. You know, you can want to boom off
the area or something that can happen, or there's a
regular cost or a community fund or something. Those things
keep coming up.
Speaker 3 (11:23):
They don't just stop, yep, And it's often at the
very worst time. I remember living in a body corporate
where the trustees said, look, we've run out of money
and we need to repaint the whole of the outside
of the buildings, including the outside boundary walls, etc. They're
(11:46):
in desperate need of paint. And so you know, yes,
your normal monthly levees two thousand, but unfortunately for the
next three years, we're going to charge you another two thousand,
and that's called a special levee because they didn't budget
for this stuff uppront. So so now we need to
paint and build up some money for those costs. And again,
(12:07):
it's not a negotiation. Once once the homeowners have decided
and at a trustee level they're voted for this, it's
a it's a cost you have to pay. You have
to share that burden. And so you know, maybe a
good kind of tip for first time buyers is before
you buy into a body corporate, ask them to give
you the financials of that body corporate. You want to
(12:27):
know that it's in a healthy financial position, that it's
got some emergency reserves. Otherwise you're going to be part
of the emergency reserves problem in the next month or
year ahead.
Speaker 2 (12:38):
We have a question for you from a Titus. Warren
Titus is asking, I'm thinking of stopping my hospital plan
for health insurance because it's cheaper. Is this a good idea?
It's such a wonderful question. This also what did you
learn buying a home for the first time? Those seven
two seven, O two one, seven or two. We'll have
an answer from Warren in just a moment for the
Money Show Personal Finance with Warren ingram Well. Your question,
(13:03):
Warren from Titus, I'm thinking of stopping my hospital plan
for health insurance because it's cheaper. Is that a good idea?
I mean, people go back and forth on this question
all the time.
Speaker 3 (13:13):
It's it's such a tricky one because I think it's
it's for me, you know, intuitively, I would say, the
last thing I'm going to do is cancel my hospital plan.
And the reason is because if I have an accident,
I want to know that I can get care in
a hospital immediately and that I will be covered for
(13:34):
all of the expenses while I'm in the hospital. And
you know that might include having to pay surgeons and
specialists and all of that, and and you know, hospital
plans are not famous for covering all of the costs
one hundred percent of the time. But what I will
know with the hospital plan is that I'm largely covered
for most of the expenses, and so almost my default
(13:54):
answer is that I would be very scared to cancel
a hospital plan. But one of the things to think
about is, you know, health insurance it typically doesn't really
cover much of what you would uh, you know, much
of the expenses when you are in hospital itself. What
it does do is it helps you when you're going
to the general practitioner, and you know, you need to
(14:15):
go to the doctor because you're sick, and it covers
you more for the things that happened to you day
to day when when you're not having an accident or
something like that. So so for people that you know
that maybe are you know, in a position where they've
got a family and they end up at the doctor
reason and be awful, often that you might find that
you know, health insurance covers them a little bit more.
(14:35):
But I think it's it is a tricky one because
you know, those are expenses. I mean, obviously you can't
negotiate with the with the flu. If you're if you're sick,
you're sick and you need to go to the doctor.
But at the same time, I think, you know, for me,
I want to know I'm super well protected when I
when I'm end up in real trouble and I need,
you know, I need to go to hospital and be
(14:56):
covered for that. So I mean I almost want to say,
you know, if you if you're looking at canning your
hospital plan just to save money, you know, sometimes the
health insurances or medical insurances are actually a little bit
more expensive than a hospital plan. So so just be
careful that you're making an assumption there titus that the
one is cheaper than the other. And then you know,
(15:16):
just be very clear that you know, if you cancel
at your hospital plan and you have an accident, you're
going to a STAT hospital. And there are some very
good STAT hospitals, but unfortunately there also lots that aren't
that good. And and you know, is that the kind
of risk you want to take with your potentially actually
with your life. Without being too dramatic.
Speaker 2 (15:34):
We're on Ingram there, the certified financial planner at Galileo Capital,
taking you through some of the realities the unexpected payments
of buying a new home on this week's Personal Finance,
The Best of the Money Show on seven o two.
In Business Unusual, this week the Organizational Behavior special Let's SAP.
We're Moyle discussing how the advice to just be yourself
(15:57):
be authentic. We want to know the real you, how
can actually be a trap, an authenticity trap that can
really reduce the effectiveness of your team.
Speaker 4 (16:06):
Just thinking about the first data idea that you've just
spoken about, don't be yourself completely on your first date.
And I think it's such a really nice analogy for
me because I think authenticity can be a very very
good thing. But I think, just like anything else, we
can take it too far, or we can misunderstand it,
and it becomes very counterproductive. So, for I was in
(16:28):
an organizational behavior conference recently and we're discussing a book
by a guy called doctor Thomas Tomorrow. He says the
book is called Don't be Yourself while Authenticity is Overrated,
And I think it challenged me, Stephen, to be honest
with you, because what if the version of you that's
showing up every day is reactive or maybe defensive or
(16:50):
emotionally underdeveloped. Is that the version you want to bring
on that first date. Is that the version you want
to bring on at work? I think not.
Speaker 2 (17:00):
Yeah, I mean you've you kind of need to manage yourself.
I mean to put this in another way, Supeware, I
am a different person to my wife than I am
to the listener of this radio show, to the person
that I am with, the people I work with who
produce the radio show. I'm still Steven, but I'm three
different people to all of those all of those groups exactly.
Speaker 4 (17:22):
I think that's the main thing. So when people say
be your authentic self, which version of Steven are They're
looking for because it definitely cannot be the same the
same version. So if you're going to bring the brutally
honest version of you at work, that's probably not going
to help us. Because human beings generally are quite complex,
(17:42):
so understanding context and understanding where you are is very
very good. So for example, if you are to open
radio show luck you're off tomorrow, Let's say another day
and say I had a completely terrible day, I'm not
feeling like heaving the radio. That's probably not a good
idea at work. So the understanding of how complex we
are and how how many selves do we have as
(18:05):
human beings helps us because you're not being authentic inauthentic.
You're just being the authentic Worg version of you, because
that's what is required there.
Speaker 2 (18:16):
The book you talk your referring to her talks about
authenticity traps and four main ones. I mean, what are
the traps?
Speaker 4 (18:23):
Yeah, just briefly, Stephen. The first one is the whole
transparency trips, the idea that we should always be brutally honest.
I think that's that's not true. I speak at conferences
and the last thing you want is the speaker going
on stage and saying I'm demotivated today. It's like, that's
not what we're there for. So unfiltered honesty without context
(18:44):
is just reckless. That's that's the first one. It's called
the transparency trip. I think the second one is called
the impulsive trip. The idea that you should always follow
your heart and many people assume mistakingly that what you
really feel your true things always right. But that's not
true because we can lead to poor decision and failure
(19:06):
to adapt professionally. The sad one is stop worrying about
what others think. This is a terrible one, and I
think in the context of the world politics that you
are in, Stephen, where people don't seem to care about
another's view, this is a trip that is not good.
You have to worry about what other people think. It's
(19:27):
a very nassistic thing to say, stop worrying about about
what other people think of you. It's very important to
worry because leadership requires transition, adaptation. The idea that you
should never compromise, or at least be someone else in
a different context is wrong. And the last one is
(19:48):
bring your whole self to work. It is impossible to
bring my whole self to work. That entire self can
include being grumpy and sious, but that's not going to
help us. So the professional version of ourselves, as we've
always said, is a more adaptable and required at that time.
Speaker 2 (20:08):
Can authenticity be sort of misunderstood?
Speaker 4 (20:13):
Yeah, it is often misunderstood Stevine, because I mean, I
think we've all seen someone who and I've seen people
who go to work and they say, I'm just being myself,
I'm blunt, I tell it like it is, I'm being real.
But what if you've been real? Erode psychological safety, which
(20:33):
is a bedrock of team effectiveness. So the fact that
you are really means I can't ask a question. The
fact that you're real means I can't admit a mistake
because I am not safe at that moment. And by
the way, as we've always argued, if I can't admit
a mistakes, that means I'm hiding it, and that's not
good for business. So it's not just about being collegial.
(20:54):
That's aterually not good for business. You need an environment
where everyone to a different to a different extent, can
be able to show us a different version of themselves.
Speaker 2 (21:05):
And when you're a leader, you do need to be real.
You can't lie over the time. I mean sometimes very
good leaders have known have have not lied, but have
found ways to show a leadership version of themselves when
you kind of know later actually they didn't feel like it,
but they managed it anyway. How do you be real
with being effective at the same time.
Speaker 4 (21:28):
That's so true, Steven, and I think for me what
you've said about understanding that their different version of a
person is very important, because we don't we want you
to be real. We just don't want you to have
your unfield that self. We want your intentionalselves. We want
a leader who knows how they are wired. But they
(21:48):
understand that I can adapt. The idea that that's just
who I am is not going to work. You can
acknowledge your inclinations. You can acknowledge who you are, but
work on them. For example, I understand that when I'm
in a meeting, I need to dial up certain things
and dial down certain things. So, for example, if you're
a leader and you want other people to speak, you
(22:11):
might have to dial down the domineering. You might have
to listen to other people's firsts. Otherwise you're gonna lose
as in a session to their way. It's clear some
people are a little bit more introverted and if you
lose out on that simply because you just bring your
unfilter itself. Now while listening to you, you're changing the
climate of the meeting and all we can do is
(22:32):
just to nod and watch you because it's your show.
Speaker 2 (22:36):
So people with Moyo there is sort of unpacking why
that Just be yourself. Advice isn't always the best. It's
also good conversation to have with yourself about which of
yourselves show up for work that most of the time
it's the professional self you will listening to the money
shows the best bits. Ronin Williams, the trend translation future
(23:00):
finance specialist at Flux Trends, reviewed the book that's quite
provocative titles by Sophie Gilbert, is called Girl on Girl.
It essentially exposes the way that pop culture treats women,
particularly younger women, and the business incentives behind that, how
there's a sort of monetization of humiliational outrage, and how
it still continues, and of course at the bottom of
(23:22):
it is the fact that women's bodies are still commodifying.
Speaker 1 (23:25):
Yes, well, I picked it up because, as your listeners
might know, I do Chriolo these reviews. I'm both in
the future space that I'm also a trained economist, and
one of the things that I'm really interested in is
the effects of that I call it the commoditization of
care on our economy and on our society. And that's
why this book was an interesting and challenging read to
(23:47):
bring to a business show, even though it's really more
about society. What it's really speaking about is how feminism
as we know it, when it has collided with capitalism
as we know it today, has put woman into this
impossible choice of either being exploited or exploiting yourself, as
though that's somehow more empowering. Hello OnlyFans, and of course
(24:10):
the normalization of porn or qualification of normalcy, which is
kind of the world that we have it in today.
So what the author so, if he does, it takes
you through really a whiplash tour of the history of
that increasing sort of commoditization of the self that has
(24:30):
been effectively the sort of current stage of feminism, that
where it's this idea that you have to sell yourself
in order to survive starts of quite benign you know,
you have to look good for Instagram, and that course
means that you will get more attentions to get more money.
You can get more likes. But okay, if you take
off a few more clothes, you can do it on
OnlyFans and you can make you more money there. In fact,
(24:52):
if you're a child's star, it's now the Disney straits
to only fans pipeline. It's become quite normalized. And it's
particularly just going to dive into this conversation in the
weeks where the world is busy discussing the Epstein files
and what is it is not inside them? Because all
these things are so related.
Speaker 2 (25:11):
Could they be and I'm going to delve into very
deep waters here that are well below my hair, well
above my head. Could it also lead to woman feeling
they have to make particular choices? It creates a kind
of false binary, even to the point of what do
I wear to the business meeting? How do I deal
(25:32):
with this very difficult conversation? How do I behave in
a tough negotiation when I want this? All of those
things are happening, maybe unconsciously, maybe quite consciously, or because
of this pornographization of media, yes exactly.
Speaker 1 (25:50):
And the pornomifization of the self. I mean, Mary Harrington
is another amazing writer that's right into the space too.
But I think you kind of hits it on the head.
And that's why the title is course a pun that
it's this idea that it becomes a sort of self
reinforcing and self policing system that under the guise of freedom,
women need to accept being exploited by themselves or by
(26:12):
others in order to maintain their place in society. And
this is it's actually quite interesting in terms of like
a tragedy of the commons, kind of an economic very game, right,
or a zero sum game, a race to the bottom.
So if we know and unfortunately it is a truth,
but if you look younger, and you are sinner, and
you are taller, you're going to get paid more in
(26:34):
the workplace, right. I mean they say age discrimination against
women in particular starts taking place when it comes in
terms of mispromotions all the way from the age of
thirty five. If you're not even halfway through your life,
that you're already like too old, which means it'd sensible
economic fet is to get the botox, take the ozampic,
and maintain your social value. But by doing that, you're
(26:56):
putting more pressure onto the next woman and the next
goal do the same, because by not doing that, you're
even even more money on the table, and the difference
between those who are playing the game and those who
are not playing the game becomes more stark. I mean,
it's it's not just women, so men that fall into
this trap with like the leg lengthening surgery and this
(27:17):
idea of having to sort of, you know, remake yourself
to fit in with the norm that nobody really wants
that everybody is doing because that's what pays. And that's
what's so.
Speaker 2 (27:27):
Interesting about this, just to to sort of in the media,
in my experience of newsrooms, women have always outnumbered men,
and I'm sure that's probably the case in the entertainment
media too, and yet this still happens, and and isn't
(27:50):
that interesting, says Stephen Bravely, Yes, exactly.
Speaker 1 (27:55):
That's that's the point around the self policing, that in fact,
women become their own enforce and their own enflavors in
the system because it's the choices that individual women make
that sort of limited or exchange the choices that other women,
particularly younger women have. It's the role models that we have,
it's the promotions that we get. I think I've stually
(28:15):
spoken about it on the show before. There was that
infamous Queen Bee paper that came out one of the
Kitsune universities that lived at how in South Africa. A
lot of the pay gap in corporate South Africa actually
came from women bosses not hiring younger women and not
from men not hiring women like men were hiring and
promoting almost equitably, but women had the stark yap about
(28:39):
the subordinates because of this idea of competition and scarcity. Now,
uncharitably that's not very nice of the women in power,
But with a bit more pregnatism, you have to understand
that she's doing this because she does know that letting
as a little abized into her hive puts her a ross.
Speaker 4 (28:57):
Right.
Speaker 1 (28:57):
It's the sort of substivity built for ourselves that we part.
We become actor in perpetuating the same hearts, much like
a sort of reason as a schools universities. It's men,
of course quite known for, but it is the sort
of self If one woman is exploiting herself, if we
see celebrities showing up at awards shows, literally in the
nude like I'm sure we thought also the Grammy's pictures beautiful,
(29:20):
but also kind of pushing the boundaries. It means the
next woman has that much more pressure could do this thing,
because that's where the by is now sets in terms
of compliance. So if you don't comply, of course you
being difficult or even regressive, which is where you've got
the sort of really ironic side of feminism that it
doesn't pay to be conservative, and that by being conservative
(29:40):
in yourself you are not actually being a feminist. So
we've kind of talked to ourselves into the circle where
feminism equals self exploitation, which is not what anyone intended
to do with the sort of outstates of the sexual revolution,
which is kind of where the book starts and fuss
forwards all the way to the mess we find ourselves
in today, particularly with young girls who are now already
(30:01):
on like skincare regimes from the age of teen or eleven,
which is just incredible.
Speaker 2 (30:06):
Ronin Williams, reviewing the book The Girl On Girl by
Sophie Gilbert seven, notes the best of the Money show
from this week How I Make Money this week? Our
guest was Lorato Sabata, a procurement and supply chain experts
here of the ROI Group, talking about the work she
does and how supply chains work and where and how
(30:28):
things can go wrong.
Speaker 5 (30:29):
Well, thank you for that. So supply chain, to be
honest with you, is basically invisible economy if we think
of it like that. When things work, people don't tend
to notice. But if anything actually starts affecting you as
a customer, then you start noticing stuff like changes and
price shortages and stock you know, business being in distress,
(30:50):
we have issues around delivery. So that's when as a
customer start feeling actually the vail of supply chain. And
for me that's not made it interesting because I can
feel intangibly delivered this product, you know, to a particular
customer that which is using and most of even being
very visible logistics, we see them on the road every
(31:11):
single day, and basically that's what moves one idea into
actual product the customer can use. And that's what's so
refreshing for me to be in this career.
Speaker 2 (31:22):
How did you get into it? You know, most many
mining executives started as an engineer. Some of them started
underground how do you get into supply chains?
Speaker 5 (31:33):
You know, a very interesting story. I was sitting on
my liune at my Alligne with my sister's friend, you know,
during metric you know, you're not sure what you want
to do the next year, and it busy debating. It's
just a really informal conversation, and she just said, don't
you want to consider logistics? And I didn't even know
what that meant. And I obviously went to just research
and I was I just immediately fell in love with
(31:55):
the idea of I could relate with logistics. And that's
just how I ended up being in the supply and field,
where I did a lot of my work in procurement,
you know, and we're housing and manufacturing and a lot.
So that's what basically inspired and is landed into the career.
Speaker 2 (32:11):
Is there something satisfying about the physicality of it? By
which I mean and I'm going to use I'm going
to use cans of beans a lot over the next
little world because I need an example of something that
we all know. But but but is it? Is it?
Because you can you can tell whether the cans of
beans got to where they were supposed to get to
(32:31):
at the right time. Is that maybe quite satisfying in
a way that I don't know, lecturing history isn't.
Speaker 5 (32:40):
You could say that because firstly, it's relatable, you know,
and one can be very inquisitive to understand where are
these kinds of being sourced from, who packages them, who
delivers them? You know who that makes up the price
of that kind of you know, beans, And if there's
any issues, what does that look like for logistics perspective?
(33:01):
Do you understand so? Yes, in terms of relatability, absolutely so.
I think that's a lot more easier for one to
follow through, you know, versus the invisible world. You know
what I mean.
Speaker 2 (33:14):
I mean, when you visualize a supply chain, do you
carry a sort of image of something around in your head?
I kind of have. It's a very silly image, but
I have an image of a very old fashioned kind
of car production system, you know, as a production line,
except that the production line starts, you know, growing the
(33:35):
beans and ends in a whole series of shopping centers
in different places.
Speaker 5 (33:42):
Yeah, you could look at it like that, but you see,
for simplicity reason, I think of it like playing really,
you know, on a field. One person passes the bit
into another person until the finish line. So when you
start sourcing manufacturers, you get onto that how do those
products move from that place to the next, which is
(34:03):
now logistics planning. That's all supply chain and in that
where a lot of issues happen, challenges, miscalculation, late deliveries,
the storage storage includes money. If you overstore a product
for two lungs, that losing out and even you you know,
and now there's also delivery to the actual customer itself,
you know that uses the particular product. And now behind
(34:25):
all of that whole chain there's systems, there's it, there's AI.
Now you know, there's a whole lot of outset complexities
that are behind the chain where where you can almost
visualize it like that and when you start experiencing more
relatable even topics. Now which is maybe more topical is
let's just say maybe for example, the whole issue with
(34:45):
the tembes A hospital. Those are all supplying challenges because
it included, you know, the the integrities of our procurement
was handled and that's part of a value chain in
the process flow, you know, so they're for is how
they do ensure ultimately delivery. It speaks to the sourcing
(35:09):
element and the sourcing elements the people behind the decisions
of such type of activity.
Speaker 2 (35:20):
The older I get, the more I realize that experts
and things often have mathematical equations for things. So, I mean,
I'm always it took me a while to get my
brain around this, but there are mathematical equations for traffic, right,
Are they certain rules? Even mathematical equations perhaps for supply chains?
If you one to move a whole series of things
(35:40):
from places ab CD and E to x y Z
and goodness knows where else you have to follow these rules?
Are they kind of quite sort of standardized ways of
doing things? There must be.
Speaker 5 (35:55):
Yeah, absolutely so rules in terms of how a product source,
there is rules and how you advertise, you know, Let's
just say, for example, there is a need to procure
new facility in Africa somewhere because you want to build
maybe a brewery, for example. The the sourcing element you
(36:21):
need to participate in in country requirement, that you need
to pass through estates and that those are part of
the you know, the earlier part of sourcing. And that's
very intentional and you cannot just go and build it,
you know what I mean, or rent any facility for
that matter, and that's where the rules come in. And
then there's also how then you source that particular facility
(36:42):
then comes into play, which is now your procurement process
which is highly governed and you are operating within frameworks
and the selection process. And then there's also now the
awarded service providers on the ground to implement. There's also
the framework that must work within from a health and
safety perspective, quality perspective, you know all the standards. So
all of these things operate within frameworks and rules, yes,
(37:06):
until to a particular customer and I'll end up using
the particular product or service at the end. So in
that there's a heavy compliance and governance duties in that process.
Speaker 2 (37:17):
So what I mean is when you when you want
to build a supply chain errato, there must be ways
in which you start and you know that if you
don't do it like this, it's not going to work.
So what I'm talking about is I'm not worried about compliance.
I'm talking about established procedures for making a supply chain work.
Speaker 5 (37:40):
It takes. They're all interconnected, right, It's not a singular
it's not singularly managed because remember business operates with other
functions that should make it work. So you will require it.
It will require maybe in inventory team, it will require systems,
you know. So all of those things, when you put
(38:01):
them together to establish a supply chain will ultimately become one.
And how do we see this word? Let's say for
global supply chains. If you're moving any product from America
into South Africa, there are rules of inter trade you
know that you must work within and how you end
up lending into other parts of the countries. So yes,
(38:21):
in terms of answering that question, what.
Speaker 2 (38:25):
Are the things that go wrong most often? And I
want to say hey, and I say this based from
headlines and not entirely serious. An upgrade to an S
A P I, T C system seems to lead to
the biggest problems. I have my tongue in my cheek,
But a change to an IT system seems to lead
to so many supply chain problems that we can see
(38:47):
as consumers.
Speaker 5 (38:50):
In terms of what what goes wrong?
Speaker 2 (38:52):
Yes, what goes wrong most often with the supply chain, A.
Speaker 5 (38:56):
Lot of it is poor planning and under estimate meeting
the value of the IT system that can manage that
type of plans and planning. I mean from demand. For example,
you could under you know, plan from a demand perspective,
or supply chains could be maybe designed to for example,
(39:17):
let's say Starbucks, they've designed to in the front end
of a shop to sell beverages. But now over time,
because of customers need variety, then you start introducing other products,
and that means you have to start changing how that
was supposed to have flow in the beginning. And now
there's more people that need more food than it was
with beverages. So are you ready now? So therefore that
(39:37):
means you mus start adding more suppliers to meet the
quick customer demands. Then it's us the new age you
want to order online. Now you're adding another dynamic and
introducing you know, ordering systems and automation and all of
that must move first right and ultimately customer being happy
the promised timeline, And therefore that starts creating a lot
of challenges if it's not well planned and then.
Speaker 2 (39:59):
So so the biggest problem really is that people just
aren't upgrading when they should. I mean, it's like everything
you have to upgrade at the right.
Speaker 5 (40:06):
Time, yes, and sometimes then you buy legal sy systems
that's been there for so long that we're not able
to perform for them now demand you know, if you know,
and I maybe air on Ai to assist with the planning.
But the current legal systems are they able to upgrade
you to that particular software or the particular system, which
is a challenge, you know. And there's quality failures and
(40:28):
real works delays, and the big part also is the
late payments. You know, if you're paying your suppliers lad
that can't get your next order on time, that's another issue,
you know. So it becomes an interconnected challenges that overall
create these type of challenges over time.
Speaker 2 (40:43):
We're speaking to Lorato Sabbata to Nunti procrement and supply
chain experts here of the ROI Group. We're talking matters
supply chain on the Money Show.
Speaker 4 (40:52):
The Money Show, How I Make my money.
Speaker 2 (40:55):
Talking matters supply chain tonight and of course some being
wow since we've been able to speak to someone about
this issue, but just getting a deeper understanding of how
it all works. Lorato's about as the procurement and supply
chain expertencyre of the ROI Group. Lorato, I think a
lot of us hadn't really thought much of supply chains
(41:16):
until the pandemic came along and suddenly we were thinking
about supply chains all the time. I remember as the
lockdown were starting talking about food supply change, you know,
and I was suddenly very interested in food supply chains
have supply change because some of them were disrupted, not
food necessarily, but others were. Have supply chained changed much
since the pandemic. There was lots of talk of near
(41:40):
shoring and things like that. Have supply chains really changed
since then?
Speaker 5 (41:44):
Yes, I think a lot of businesses have really treated
supply chain now those type of challenges that we're experienced
in COVID as more of a business continuity, you know.
It's more like the black swan that was the first
thing that has happened that costs the disruption that we
experienced and now risk you know, management and mitigation plans
of put in place have now you know, transformed that
(42:06):
part of thinking tomorrow, how do we continue business if
such happens? In that to be more practical, there's more
introduction of supply diversity, you know, and sourcing closer to home,
you know, interaction, we have issues of localization. A lot
of the items are important, you know, there isn't my
happening locally that government is trying very hard to to
(42:28):
to amplify their b you know, performance and participation just
from that localization. I think that happened post COVID really
was another amplifier in that which we need to solve
for and that has been you know, starting to come
up to place and tightening a lot more contracts and
service levels, right, and how then to become more creative
(42:49):
beinion panels where some supply ten leaders say, how we
now source service provider us through our process in procurement,
we want to look for innovation in the like of
if something like or it could happen, So in the
verses starting to become the center part of how you
then award a particular contracts you know, and particular performance
structure so that you're not found in a vulnerable position.
Speaker 2 (43:12):
It's difficult for a company, though, isn't it, because you
you would have had let me call it a pre
pandemic and a post pandemic supply line and a pre
pandemic supply chain might have cost you one hundred rand
let's just say for argument's sake, and a post pandemic
production line or supply line, a supply chain that you
need costs you twenty percent more than that for something
(43:34):
that's only happened once in sort of five generations. I
mean to try and manage the cost of that to
do it correctly. There might be some companies that will say, no,
we're not going to plan for a black Swan event.
We're just going to take the profit while we can.
Speaker 5 (43:50):
Yeah, I mean, ultimately we need to move with the
times and move with where the market is going. We
have a high pressure with interest rates, economies are changing,
tolbalizations happening is just becoming a big thing. So companies
are really under pressure to start also aligning with those
type of things. And now you cannot go bit pre
covid right. And also your competitors are aligning themselves in
(44:12):
that particular way. So therefore you will either be stuck
or move. And those are they come with the challenges
of prices increase and you know these type of dynamics.
Speaker 2 (44:23):
The way supply chains are going, now, are they going
to involve fewer humans? I mean, obviously humans will design
them and still do a lot of the work, but
do you get a sense I think people are going
to mechanize more and more and you know, feel free
to throw the phrase in AI somewhere. Everyone's talking about
robots at the moment.
Speaker 5 (44:44):
Yeah, that's a topical thing now, which I also had
a conversation with one of the datas in the finance
industries recently that you know, a lot there is now
designs regarding the robots of how to respond to what
we don't want to do every day. You know, there's
a repetitive work that you do every day and how
can I do that faster? But now you're probably going
(45:05):
to need a human being to auto correct that and
maybe insert of input particular probmts that should enable what
you want to get out of that. So it's still
a growing conversation, to be honest, but the future is
going there. But at some point it would have been
fully transformed into AI slash automation. But now humans must
also transform because one of the challenges for courement or
(45:25):
supply chain has is lack of skills. Are we sourcing
the right people for today's world of how we want
this to apply chains to work efficiently? That's another thing.
Talent management another problem, you.
Speaker 2 (45:39):
Know, I mean I would imagine you know that you
need people to design these things. It must be a
very interesting career to get into and at times quite
exciting and quite challenging if things go wrong.
Speaker 5 (45:50):
Yeah, you need people to design this, but also it's
more also on the new age youth that is designing
this new type of creative innovation and markets also market ready.
If you look at our market, it's so much secondary
to the European market, so we always play catch up.
And at the time we catch up, is it where
supplace is at the global landscape? Is another challenge in
(46:13):
a question, you know.
Speaker 2 (46:15):
Is that rate of is that rate of change speeding up?
So it's interrupted? I mean, is it moving more quickly
than it did, say twenty years ago?
Speaker 5 (46:24):
I believe it. It's taking up right now, especially with
like the two thousand generation going forward and how things
are today versus the prior generation. So absolutely the speed
of it is moving for a thousand before, though it
might not be the skill that it would be with
the Europeans, I would say that or Chinese you know
in a ways.
Speaker 2 (46:46):
About it that taking us into the world of procurement
and supply chain management, explaining where you can have problems
and where the disruptions come from. Seven you will listen
to The Money Shows the best bits. Listening to the
best Bits of The Money Show a digestive some of
the most interesting thoughts, comments, and insights this week. If
you'd like to hear more, go to our website or
(47:07):
your podcast app and search for The Money Show. Thanks
for listening. We're back on The Money Show six o'clock
on Monday. Have a good weekend.
You're listening to the best of The Money.
Speaker 2 (00:04):
Show, the Mine Show. Welcome to the Best Bits of
the Money Show, a digest of some of the best thoughts, comments, insights,
and interviews from the show this week. If you'd like
to hear more, please go to our website or your
podcast app and search for The Money Show. Would be
nice as well if you shared it with someone you
thought might find it interesting. Might be that neighbor might
start a nice conversation. Could well be a good conversation
(00:27):
starter for you to start. Some of the news stories
that we thought were interesting and important from the week
that was there was the invest in Africa mining in Daba.
So many people were there this week. Lots of conversations
about extracting minerals, about investment, about financial models, but also
about ensuring that mining drives inclusive growth and strengthens communities.
(00:49):
Lots of talk about that this week. The private equity
firm Haruth General Partners spending some money we don't know
how much on the airline fly Sapphire their expanded their
trans portfolio on the continent. And the energy regulator finally
incorporating the mistake that it made ESKN won that court
case it seems to win them all against nurser. As
(01:10):
a result, electricity prices this year are going up by
eight point seven six percent from April. They'll go by
something similar next year. Very very expensive mistake. Tonight we
bring you a mixture of stories from the world of
money from the week that has been in personal finance.
This week we're on Ingram, the certified financial planner at
Galileo Capital, looked at buying a new home. There are
(01:34):
so many hidden costs, things you don't expect. You also
had some interesting comments and some of the longer term
considerations that everyone should keep an eye.
Speaker 3 (01:42):
I think if you're going to stay in a house
for eight years or longer, probably ten years longer as
to be safe, then you should really think about buying
a home. But it's something we always need to talk
about because there are a lot of people in South
Africa who who just can't get away from bricks and water.
It's the thing they want to buy more than anything else,
so we need to help them think about it.
Speaker 2 (02:03):
It's also, i mean, no matter what happens, it's such
a big commitment. At twenty year commitment, there's so many
different factors that can really make a big difference.
Speaker 3 (02:12):
Yeah, I think for most South Africans. But buying your
home is probably the biggest transaction will ever do, biggest
financial transaction will ever do. And so you know, a
lot of the time when you talk to people that
have bought homes, see that they didn't know what they
didn't know. They fell in love with the place, or
rushed the deal, et cetera. And so it's I mean,
(02:36):
for me, it's something where if you're going to make
this kind of a commitment, you should do it. You know,
there will always be emotion involved. You have to live
in the place. You have to you know, you have
to enjoy being there. But before you, you know, you
allow yourself to get to get involved in emotion, you
have to have some pretty good idea of the financial
implications of what you're going to do, and make sure
you've done your homework. You're financially prepared, psychologically prepared, because
(02:59):
there will be shocks along the way, and make sure
that you can deal with those shocks as they come.
Speaker 2 (03:04):
Okay, let's get into some of the costs. And quite
a few costs are upfront and you don't always think
about this when you're looking at a house and you're
looking at the price and you're thinking, well that pull,
I could make that bluer than the sky has it.
But the upfront costs are rarely even if you get
a big bond, really more than you than you would expect.
Speaker 3 (03:25):
Yeah, I think it's one of those things where we
we kind of think, you know, if we can convince
the bank, you know, with our first bond, the first
time we buy a house, to convince the bank to
give us, you know, one hundred percent bond that that
you know, we've scraped together some cash and that'll be
okay to get through whatever the costs are that we need.
And then we'll start, you know, the following month paying
(03:45):
down the bond and everything will be okay. I wish
it was that easy. That that's not really the case.
So we need to prepare for a few costs when
when we're going into buying a house, and and when
I say haus, it could be a house, it could
be in a pot artment, you know, in an estate,
et cetera. And the first thing is there are always
lawyers involved in the process. And and so when you
(04:09):
register a bond on a property, for example, you go
to a bank and you say, will you will you
lend me the money to buy this house? The bank says, sure,
no problem. What happens now is the bank becomes in
essence the real owner of the property until you've paid
it off. And and so what happens is they they
appoint a lawyer who registers bond on the property and
(04:30):
that bond says that you know, you know, yes, Warren,
Warren is the person that's names on the title deed,
but alongside Bank ABC, and until such time as Bank
ABC says differently, what Warren can't sell that place without
the bank's approval. So there is a bond registration process,
and and then that that's not the only thing, because
(04:51):
we also have to pay some tax. You know, SORRS
is not going to let you buy and sell properties
along the way without trying to claim some money as well.
And so if you've got a property and it's worth
more than one point two million round, then you're going
to pay bond fees and you're going to pay transfer
fees to SARS as well. And so just be careful
(05:12):
there because those transfer costs can add up very quickly.
And I did a quick calculation. I'm not pretending to
do this in my head. But for around a two
million round property, these upfrond costs are are going to
be pretty close to about one hundred and twenty thousand
Rand when you go in, and for a five million
property it's going to jump significantly around five hundred thousand.
(05:36):
So that's the lawyer fees, it's the taxes to sars,
the transfer duties, so all of those costs are hitting
you upfront before you've even paid for the geezer, which
is probably going to burst on the first week that
you move into.
Speaker 2 (05:50):
Your property only if the mother in law's come for
tea weren't okay, you can get one hundred was a
time when you could get one hundred and one one
hundred and two percent mortgage. I think those days, thankfully
are long gone. But even if you get a bond
for one hundred percent, should you still consider putting down
(06:11):
a deposit? I mean, is there a gain to you
in doing that?
Speaker 3 (06:15):
I think it's it's it's the trade off between you know,
what can you do upfront on a monthly basis how
much have you saved? Because the moment you put down
a deposit, the benefit to you is that your you're
either you keep your repayments a bit lower. So you know,
if you owed, let's say it was ten thousand a month,
but now you put down a deposit and it's a
(06:37):
decent deposit, you might find that you only need to
pay nine thousand a month. And so that's the one
way of saving yourself some money on a monthly basis
and creating a bit of space in your budget is
put down a big deposit, and the bigger the deposit,
the smaller the monthly repayments. The alternative is that you
put down a nice deposit and you don't pay less.
(06:59):
In other words, you still pay your ten thousand round
a month. And if you do that, you're going to
take years off the life of the bond. So most
of the time when we get a bond in South Africa,
the banks will give it to us for a twenty
year period. And the bigger the deposit on day one,
and the more consistent you are and paying a bit
extra every month, you can start to cut off periods
of you know, six to eight years on a bond
(07:22):
just by paying a deposit on day one. And so
I mean to me, you know, I think the other
thing around a bond and maybe paying a bit extras.
It becomes a very nice place to build up an
emergency fund, you know, because you're going to need an
emergency fund when you own a property. So if you
view nothing else, then pay the extra money that you
would have stored for your emergency fund as your deposit
(07:46):
if you can. And I think maybe my last comment
there on this, Stephen is just make sure with the
banks that this is if you pay the extra money
into the bond as a deposit and it's more than
what they require, that you can draw out the extra
money when when the world falls apart and you need
that money for an emergency.
Speaker 2 (08:07):
Seven two seven oh two one seven oh two. What
did you learn when you bought a home for the
first time that you didn't know before about finances? I
don't mean check the outside, loo, I do mean about finances.
What did you learn through the process. The other thing is,
and I mean I remember going through this, you need
to know how much you can actually pay every month,
(08:28):
and sometimes that can be quite hard to work out.
Speaker 3 (08:32):
Yeah, I mean certainly as a as a recovering property.
By this was the one that caught me out. I
think I did very well on understanding the upfront costs
are and I had a nice emergency find I did
put down and deposits, and then sort of by the
second or third month of home ownership, I just realized,
you know, that the money so much tighter than I
thought it would be, and I didn't really understand what
(08:54):
was going on. And so just to think it through.
The first thing is you've paid tax to sorrows on
the transferred US. But now that you're a homeowner, you've
got a new government body that's involved in your life
and they don't go away for the rest of the
time that you own a property, and that's called the
local municipality because they want to charge you something called rates.
(09:16):
And the reason they charge your rates is because they
are going to provide services like sewerage access and refuse
collection and all of those things. So for that they're
going to charge you a monthly rates. And in certain areas,
the Western Camp is one of them, those are going
up fairly quickly. And so again you need to know
(09:38):
that you know, it's not just you know your monthly bond,
it's now these rates and you know year one, once
you've done the homework, you might say, okay, well, that's fine.
I can pay the rates you know as there are now.
But if those rates are going up faster than inflation,
then you need to have an extra amount saved for
the following year because these rates are only ever going
(09:59):
to go And in addition to rates, if you live
in an apartment or in an a state or a
townhouse and you're part of a complex, then you're going
to pay rates, and you're going to pay a levee.
And that levee goes to the body corporate or the
homeowners association. And the reason you're paying them is because
they will have responsibility for certain parts of the building
(10:21):
on the outside. So, for example, in an apartment block,
the body corporate will be responsible for maintaining the roof
and the building on the outside, and so you know
every number of years they're going to paint that, they're
going to have to redo the paving every now and then,
and make sure the roof doesn't leak at all of
those things, and so you pay a levee to them
(10:42):
as well. And that's not a negotiable thing. That's not
something you can decide to pay or not. If you're
an owner, that means you're a part owner of a
whole building, and you are expected to pay, and if
you don't pay, you're going to get yourself into even
deeper financial struggers than what you thought. So make sure
that you pay these things, because you've got to pay
(11:03):
these This is not something you can just avoid or
ask for a payment holiday.
Speaker 2 (11:09):
And I mean those can even when you've been living
in a place for a little while, suddenly there can
be increases. You know, you can want to boom off
the area or something that can happen, or there's a
regular cost or a community fund or something. Those things
keep coming up.
Speaker 3 (11:23):
They don't just stop, yep, And it's often at the
very worst time. I remember living in a body corporate
where the trustees said, look, we've run out of money
and we need to repaint the whole of the outside
of the buildings, including the outside boundary walls, etc. They're
(11:46):
in desperate need of paint. And so you know, yes,
your normal monthly levees two thousand, but unfortunately for the
next three years, we're going to charge you another two thousand,
and that's called a special levee because they didn't budget
for this stuff uppront. So so now we need to
paint and build up some money for those costs. And again,
(12:07):
it's not a negotiation. Once once the homeowners have decided
and at a trustee level they're voted for this, it's
a it's a cost you have to pay. You have
to share that burden. And so you know, maybe a
good kind of tip for first time buyers is before
you buy into a body corporate, ask them to give
you the financials of that body corporate. You want to
(12:27):
know that it's in a healthy financial position, that it's
got some emergency reserves. Otherwise you're going to be part
of the emergency reserves problem in the next month or
year ahead.
Speaker 2 (12:38):
We have a question for you from a Titus. Warren
Titus is asking, I'm thinking of stopping my hospital plan
for health insurance because it's cheaper. Is this a good idea?
It's such a wonderful question. This also what did you
learn buying a home for the first time? Those seven
two seven, O two one, seven or two. We'll have
an answer from Warren in just a moment for the
Money Show Personal Finance with Warren ingram Well. Your question,
(13:03):
Warren from Titus, I'm thinking of stopping my hospital plan
for health insurance because it's cheaper. Is that a good idea?
I mean, people go back and forth on this question
all the time.
Speaker 3 (13:13):
It's it's such a tricky one because I think it's
it's for me, you know, intuitively, I would say, the
last thing I'm going to do is cancel my hospital plan.
And the reason is because if I have an accident,
I want to know that I can get care in
a hospital immediately and that I will be covered for
(13:34):
all of the expenses while I'm in the hospital. And
you know that might include having to pay surgeons and
specialists and all of that, and and you know, hospital
plans are not famous for covering all of the costs
one hundred percent of the time. But what I will
know with the hospital plan is that I'm largely covered
for most of the expenses, and so almost my default
(13:54):
answer is that I would be very scared to cancel
a hospital plan. But one of the things to think
about is, you know, health insurance it typically doesn't really
cover much of what you would uh, you know, much
of the expenses when you are in hospital itself. What
it does do is it helps you when you're going
to the general practitioner, and you know, you need to
(14:15):
go to the doctor because you're sick, and it covers
you more for the things that happened to you day
to day when when you're not having an accident or
something like that. So so for people that you know
that maybe are you know, in a position where they've
got a family and they end up at the doctor
reason and be awful, often that you might find that
you know, health insurance covers them a little bit more.
(14:35):
But I think it's it is a tricky one because
you know, those are expenses. I mean, obviously you can't
negotiate with the with the flu. If you're if you're sick,
you're sick and you need to go to the doctor.
But at the same time, I think, you know, for me,
I want to know I'm super well protected when I
when I'm end up in real trouble and I need,
you know, I need to go to hospital and be
(14:56):
covered for that. So I mean I almost want to say,
you know, if you if you're looking at canning your
hospital plan just to save money, you know, sometimes the
health insurances or medical insurances are actually a little bit
more expensive than a hospital plan. So so just be
careful that you're making an assumption there titus that the
one is cheaper than the other. And then you know,
(15:16):
just be very clear that you know, if you cancel
at your hospital plan and you have an accident, you're
going to a STAT hospital. And there are some very
good STAT hospitals, but unfortunately there also lots that aren't
that good. And and you know, is that the kind
of risk you want to take with your potentially actually
with your life. Without being too dramatic.
Speaker 2 (15:34):
We're on Ingram there, the certified financial planner at Galileo Capital,
taking you through some of the realities the unexpected payments
of buying a new home on this week's Personal Finance,
The Best of the Money Show on seven o two.
In Business Unusual, this week the Organizational Behavior special Let's SAP.
We're Moyle discussing how the advice to just be yourself
(15:57):
be authentic. We want to know the real you, how
can actually be a trap, an authenticity trap that can
really reduce the effectiveness of your team.
Speaker 4 (16:06):
Just thinking about the first data idea that you've just
spoken about, don't be yourself completely on your first date.
And I think it's such a really nice analogy for
me because I think authenticity can be a very very
good thing. But I think, just like anything else, we
can take it too far, or we can misunderstand it,
and it becomes very counterproductive. So, for I was in
(16:28):
an organizational behavior conference recently and we're discussing a book
by a guy called doctor Thomas Tomorrow. He says the
book is called Don't be Yourself while Authenticity is Overrated,
And I think it challenged me, Stephen, to be honest
with you, because what if the version of you that's
showing up every day is reactive or maybe defensive or
(16:50):
emotionally underdeveloped. Is that the version you want to bring
on that first date. Is that the version you want
to bring on at work? I think not.
Speaker 2 (17:00):
Yeah, I mean you've you kind of need to manage yourself.
I mean to put this in another way, Supeware, I
am a different person to my wife than I am
to the listener of this radio show, to the person
that I am with, the people I work with who
produce the radio show. I'm still Steven, but I'm three
different people to all of those all of those groups exactly.
Speaker 4 (17:22):
I think that's the main thing. So when people say
be your authentic self, which version of Steven are They're
looking for because it definitely cannot be the same the
same version. So if you're going to bring the brutally
honest version of you at work, that's probably not going
to help us. Because human beings generally are quite complex,
(17:42):
so understanding context and understanding where you are is very
very good. So for example, if you are to open
radio show luck you're off tomorrow, Let's say another day
and say I had a completely terrible day, I'm not
feeling like heaving the radio. That's probably not a good
idea at work. So the understanding of how complex we
are and how how many selves do we have as
(18:05):
human beings helps us because you're not being authentic inauthentic.
You're just being the authentic Worg version of you, because
that's what is required there.
Speaker 2 (18:16):
The book you talk your referring to her talks about
authenticity traps and four main ones. I mean, what are
the traps?
Speaker 4 (18:23):
Yeah, just briefly, Stephen. The first one is the whole
transparency trips, the idea that we should always be brutally honest.
I think that's that's not true. I speak at conferences
and the last thing you want is the speaker going
on stage and saying I'm demotivated today. It's like, that's
not what we're there for. So unfiltered honesty without context
(18:44):
is just reckless. That's that's the first one. It's called
the transparency trip. I think the second one is called
the impulsive trip. The idea that you should always follow
your heart and many people assume mistakingly that what you
really feel your true things always right. But that's not
true because we can lead to poor decision and failure
(19:06):
to adapt professionally. The sad one is stop worrying about
what others think. This is a terrible one, and I
think in the context of the world politics that you
are in, Stephen, where people don't seem to care about
another's view, this is a trip that is not good.
You have to worry about what other people think. It's
(19:27):
a very nassistic thing to say, stop worrying about about
what other people think of you. It's very important to
worry because leadership requires transition, adaptation. The idea that you
should never compromise, or at least be someone else in
a different context is wrong. And the last one is
(19:48):
bring your whole self to work. It is impossible to
bring my whole self to work. That entire self can
include being grumpy and sious, but that's not going to
help us. So the professional version of ourselves, as we've
always said, is a more adaptable and required at that time.
Speaker 2 (20:08):
Can authenticity be sort of misunderstood?
Speaker 4 (20:13):
Yeah, it is often misunderstood Stevine, because I mean, I
think we've all seen someone who and I've seen people
who go to work and they say, I'm just being myself,
I'm blunt, I tell it like it is, I'm being real.
But what if you've been real? Erode psychological safety, which
(20:33):
is a bedrock of team effectiveness. So the fact that
you are really means I can't ask a question. The
fact that you're real means I can't admit a mistake
because I am not safe at that moment. And by
the way, as we've always argued, if I can't admit
a mistakes, that means I'm hiding it, and that's not
good for business. So it's not just about being collegial.
(20:54):
That's aterually not good for business. You need an environment
where everyone to a different to a different extent, can
be able to show us a different version of themselves.
Speaker 2 (21:05):
And when you're a leader, you do need to be real.
You can't lie over the time. I mean sometimes very
good leaders have known have have not lied, but have
found ways to show a leadership version of themselves when
you kind of know later actually they didn't feel like it,
but they managed it anyway. How do you be real
with being effective at the same time.
Speaker 4 (21:28):
That's so true, Steven, and I think for me what
you've said about understanding that their different version of a
person is very important, because we don't we want you
to be real. We just don't want you to have
your unfield that self. We want your intentionalselves. We want
a leader who knows how they are wired. But they
(21:48):
understand that I can adapt. The idea that that's just
who I am is not going to work. You can
acknowledge your inclinations. You can acknowledge who you are, but
work on them. For example, I understand that when I'm
in a meeting, I need to dial up certain things
and dial down certain things. So, for example, if you're
a leader and you want other people to speak, you
(22:11):
might have to dial down the domineering. You might have
to listen to other people's firsts. Otherwise you're gonna lose
as in a session to their way. It's clear some
people are a little bit more introverted and if you
lose out on that simply because you just bring your
unfilter itself. Now while listening to you, you're changing the
climate of the meeting and all we can do is
(22:32):
just to nod and watch you because it's your show.
Speaker 2 (22:36):
So people with Moyo there is sort of unpacking why
that Just be yourself. Advice isn't always the best. It's
also good conversation to have with yourself about which of
yourselves show up for work that most of the time
it's the professional self you will listening to the money
shows the best bits. Ronin Williams, the trend translation future
(23:00):
finance specialist at Flux Trends, reviewed the book that's quite
provocative titles by Sophie Gilbert, is called Girl on Girl.
It essentially exposes the way that pop culture treats women,
particularly younger women, and the business incentives behind that, how
there's a sort of monetization of humiliational outrage, and how
it still continues, and of course at the bottom of
(23:22):
it is the fact that women's bodies are still commodifying.
Speaker 1 (23:25):
Yes, well, I picked it up because, as your listeners
might know, I do Chriolo these reviews. I'm both in
the future space that I'm also a trained economist, and
one of the things that I'm really interested in is
the effects of that I call it the commoditization of
care on our economy and on our society. And that's
why this book was an interesting and challenging read to
(23:47):
bring to a business show, even though it's really more
about society. What it's really speaking about is how feminism
as we know it, when it has collided with capitalism
as we know it today, has put woman into this
impossible choice of either being exploited or exploiting yourself, as
though that's somehow more empowering. Hello OnlyFans, and of course
(24:10):
the normalization of porn or qualification of normalcy, which is
kind of the world that we have it in today.
So what the author so, if he does, it takes
you through really a whiplash tour of the history of
that increasing sort of commoditization of the self that has
(24:30):
been effectively the sort of current stage of feminism, that
where it's this idea that you have to sell yourself
in order to survive starts of quite benign you know,
you have to look good for Instagram, and that course
means that you will get more attentions to get more money.
You can get more likes. But okay, if you take
off a few more clothes, you can do it on
OnlyFans and you can make you more money there. In fact,
(24:52):
if you're a child's star, it's now the Disney straits
to only fans pipeline. It's become quite normalized. And it's
particularly just going to dive into this conversation in the
weeks where the world is busy discussing the Epstein files
and what is it is not inside them? Because all
these things are so related.
Speaker 2 (25:11):
Could they be and I'm going to delve into very
deep waters here that are well below my hair, well
above my head. Could it also lead to woman feeling
they have to make particular choices? It creates a kind
of false binary, even to the point of what do
I wear to the business meeting? How do I deal
(25:32):
with this very difficult conversation? How do I behave in
a tough negotiation when I want this? All of those
things are happening, maybe unconsciously, maybe quite consciously, or because
of this pornographization of media, yes exactly.
Speaker 1 (25:50):
And the pornomifization of the self. I mean, Mary Harrington
is another amazing writer that's right into the space too.
But I think you kind of hits it on the head.
And that's why the title is course a pun that
it's this idea that it becomes a sort of self
reinforcing and self policing system that under the guise of freedom,
women need to accept being exploited by themselves or by
(26:12):
others in order to maintain their place in society. And
this is it's actually quite interesting in terms of like
a tragedy of the commons, kind of an economic very game, right,
or a zero sum game, a race to the bottom.
So if we know and unfortunately it is a truth,
but if you look younger, and you are sinner, and
you are taller, you're going to get paid more in
(26:34):
the workplace, right. I mean they say age discrimination against
women in particular starts taking place when it comes in
terms of mispromotions all the way from the age of
thirty five. If you're not even halfway through your life,
that you're already like too old, which means it'd sensible
economic fet is to get the botox, take the ozampic,
and maintain your social value. But by doing that, you're
(26:56):
putting more pressure onto the next woman and the next
goal do the same, because by not doing that, you're
even even more money on the table, and the difference
between those who are playing the game and those who
are not playing the game becomes more stark. I mean,
it's it's not just women, so men that fall into
this trap with like the leg lengthening surgery and this
(27:17):
idea of having to sort of, you know, remake yourself
to fit in with the norm that nobody really wants
that everybody is doing because that's what pays. And that's
what's so.
Speaker 2 (27:27):
Interesting about this, just to to sort of in the media,
in my experience of newsrooms, women have always outnumbered men,
and I'm sure that's probably the case in the entertainment
media too, and yet this still happens, and and isn't
(27:50):
that interesting, says Stephen Bravely, Yes, exactly.
Speaker 1 (27:55):
That's that's the point around the self policing, that in fact,
women become their own enforce and their own enflavors in
the system because it's the choices that individual women make
that sort of limited or exchange the choices that other women,
particularly younger women have. It's the role models that we have,
it's the promotions that we get. I think I've stually
(28:15):
spoken about it on the show before. There was that
infamous Queen Bee paper that came out one of the
Kitsune universities that lived at how in South Africa. A
lot of the pay gap in corporate South Africa actually
came from women bosses not hiring younger women and not
from men not hiring women like men were hiring and
promoting almost equitably, but women had the stark yap about
(28:39):
the subordinates because of this idea of competition and scarcity. Now,
uncharitably that's not very nice of the women in power,
But with a bit more pregnatism, you have to understand
that she's doing this because she does know that letting
as a little abized into her hive puts her a ross.
Speaker 4 (28:57):
Right.
Speaker 1 (28:57):
It's the sort of substivity built for ourselves that we part.
We become actor in perpetuating the same hearts, much like
a sort of reason as a schools universities. It's men,
of course quite known for, but it is the sort
of self If one woman is exploiting herself, if we
see celebrities showing up at awards shows, literally in the
nude like I'm sure we thought also the Grammy's pictures beautiful,
(29:20):
but also kind of pushing the boundaries. It means the
next woman has that much more pressure could do this thing,
because that's where the by is now sets in terms
of compliance. So if you don't comply, of course you
being difficult or even regressive, which is where you've got
the sort of really ironic side of feminism that it
doesn't pay to be conservative, and that by being conservative
(29:40):
in yourself you are not actually being a feminist. So
we've kind of talked to ourselves into the circle where
feminism equals self exploitation, which is not what anyone intended
to do with the sort of outstates of the sexual revolution,
which is kind of where the book starts and fuss
forwards all the way to the mess we find ourselves
in today, particularly with young girls who are now already
(30:01):
on like skincare regimes from the age of teen or eleven,
which is just incredible.
Speaker 2 (30:06):
Ronin Williams, reviewing the book The Girl On Girl by
Sophie Gilbert seven, notes the best of the Money show
from this week How I Make Money this week? Our
guest was Lorato Sabata, a procurement and supply chain experts
here of the ROI Group, talking about the work she
does and how supply chains work and where and how
(30:28):
things can go wrong.
Speaker 5 (30:29):
Well, thank you for that. So supply chain, to be
honest with you, is basically invisible economy if we think
of it like that. When things work, people don't tend
to notice. But if anything actually starts affecting you as
a customer, then you start noticing stuff like changes and
price shortages and stock you know, business being in distress,
(30:50):
we have issues around delivery. So that's when as a
customer start feeling actually the vail of supply chain. And
for me that's not made it interesting because I can
feel intangibly delivered this product, you know, to a particular
customer that which is using and most of even being
very visible logistics, we see them on the road every
(31:11):
single day, and basically that's what moves one idea into
actual product the customer can use. And that's what's so
refreshing for me to be in this career.
Speaker 2 (31:22):
How did you get into it? You know, most many
mining executives started as an engineer. Some of them started
underground how do you get into supply chains?
Speaker 5 (31:33):
You know, a very interesting story. I was sitting on
my liune at my Alligne with my sister's friend, you know,
during metric you know, you're not sure what you want
to do the next year, and it busy debating. It's
just a really informal conversation, and she just said, don't
you want to consider logistics? And I didn't even know
what that meant. And I obviously went to just research
and I was I just immediately fell in love with
(31:55):
the idea of I could relate with logistics. And that's
just how I ended up being in the supply and field,
where I did a lot of my work in procurement,
you know, and we're housing and manufacturing and a lot.
So that's what basically inspired and is landed into the career.
Speaker 2 (32:11):
Is there something satisfying about the physicality of it? By
which I mean and I'm going to use I'm going
to use cans of beans a lot over the next
little world because I need an example of something that
we all know. But but but is it? Is it?
Because you can you can tell whether the cans of
beans got to where they were supposed to get to
(32:31):
at the right time. Is that maybe quite satisfying in
a way that I don't know, lecturing history isn't.
Speaker 5 (32:40):
You could say that because firstly, it's relatable, you know,
and one can be very inquisitive to understand where are
these kinds of being sourced from, who packages them, who
delivers them? You know who that makes up the price
of that kind of you know, beans, And if there's
any issues, what does that look like for logistics perspective?
(33:01):
Do you understand so? Yes, in terms of relatability, absolutely so.
I think that's a lot more easier for one to
follow through, you know, versus the invisible world. You know
what I mean.
Speaker 2 (33:14):
I mean, when you visualize a supply chain, do you
carry a sort of image of something around in your head?
I kind of have. It's a very silly image, but
I have an image of a very old fashioned kind
of car production system, you know, as a production line,
except that the production line starts, you know, growing the
(33:35):
beans and ends in a whole series of shopping centers
in different places.
Speaker 5 (33:42):
Yeah, you could look at it like that, but you see,
for simplicity reason, I think of it like playing really,
you know, on a field. One person passes the bit
into another person until the finish line. So when you
start sourcing manufacturers, you get onto that how do those
products move from that place to the next, which is
(34:03):
now logistics planning. That's all supply chain and in that
where a lot of issues happen, challenges, miscalculation, late deliveries,
the storage storage includes money. If you overstore a product
for two lungs, that losing out and even you you know,
and now there's also delivery to the actual customer itself,
you know that uses the particular product. And now behind
(34:25):
all of that whole chain there's systems, there's it, there's AI.
Now you know, there's a whole lot of outset complexities
that are behind the chain where where you can almost
visualize it like that and when you start experiencing more
relatable even topics. Now which is maybe more topical is
let's just say maybe for example, the whole issue with
(34:45):
the tembes A hospital. Those are all supplying challenges because
it included, you know, the the integrities of our procurement
was handled and that's part of a value chain in
the process flow, you know, so they're for is how
they do ensure ultimately delivery. It speaks to the sourcing
(35:09):
element and the sourcing elements the people behind the decisions
of such type of activity.
Speaker 2 (35:20):
The older I get, the more I realize that experts
and things often have mathematical equations for things. So, I mean,
I'm always it took me a while to get my
brain around this, but there are mathematical equations for traffic, right,
Are they certain rules? Even mathematical equations perhaps for supply chains?
If you one to move a whole series of things
(35:40):
from places ab CD and E to x y Z
and goodness knows where else you have to follow these rules?
Are they kind of quite sort of standardized ways of
doing things? There must be.
Speaker 5 (35:55):
Yeah, absolutely so rules in terms of how a product source,
there is rules and how you advertise, you know, Let's
just say, for example, there is a need to procure
new facility in Africa somewhere because you want to build
maybe a brewery, for example. The the sourcing element you
(36:21):
need to participate in in country requirement, that you need
to pass through estates and that those are part of
the you know, the earlier part of sourcing. And that's
very intentional and you cannot just go and build it,
you know what I mean, or rent any facility for
that matter, and that's where the rules come in. And
then there's also how then you source that particular facility
(36:42):
then comes into play, which is now your procurement process
which is highly governed and you are operating within frameworks
and the selection process. And then there's also now the
awarded service providers on the ground to implement. There's also
the framework that must work within from a health and
safety perspective, quality perspective, you know all the standards. So
all of these things operate within frameworks and rules, yes,
(37:06):
until to a particular customer and I'll end up using
the particular product or service at the end. So in
that there's a heavy compliance and governance duties in that process.
Speaker 2 (37:17):
So what I mean is when you when you want
to build a supply chain errato, there must be ways
in which you start and you know that if you
don't do it like this, it's not going to work.
So what I'm talking about is I'm not worried about compliance.
I'm talking about established procedures for making a supply chain work.
Speaker 5 (37:40):
It takes. They're all interconnected, right, It's not a singular
it's not singularly managed because remember business operates with other
functions that should make it work. So you will require it.
It will require maybe in inventory team, it will require systems,
you know. So all of those things, when you put
(38:01):
them together to establish a supply chain will ultimately become one.
And how do we see this word? Let's say for
global supply chains. If you're moving any product from America
into South Africa, there are rules of inter trade you
know that you must work within and how you end
up lending into other parts of the countries. So yes,
(38:21):
in terms of answering that question, what.
Speaker 2 (38:25):
Are the things that go wrong most often? And I
want to say hey, and I say this based from
headlines and not entirely serious. An upgrade to an S
A P I, T C system seems to lead to
the biggest problems. I have my tongue in my cheek,
But a change to an IT system seems to lead
to so many supply chain problems that we can see
(38:47):
as consumers.
Speaker 5 (38:50):
In terms of what what goes wrong?
Speaker 2 (38:52):
Yes, what goes wrong most often with the supply chain, A.
Speaker 5 (38:56):
Lot of it is poor planning and under estimate meeting
the value of the IT system that can manage that
type of plans and planning. I mean from demand. For example,
you could under you know, plan from a demand perspective,
or supply chains could be maybe designed to for example,
(39:17):
let's say Starbucks, they've designed to in the front end
of a shop to sell beverages. But now over time,
because of customers need variety, then you start introducing other products,
and that means you have to start changing how that
was supposed to have flow in the beginning. And now
there's more people that need more food than it was
with beverages. So are you ready now? So therefore that
(39:37):
means you mus start adding more suppliers to meet the
quick customer demands. Then it's us the new age you
want to order online. Now you're adding another dynamic and
introducing you know, ordering systems and automation and all of
that must move first right and ultimately customer being happy
the promised timeline, And therefore that starts creating a lot
of challenges if it's not well planned and then.
Speaker 2 (39:59):
So so the biggest problem really is that people just
aren't upgrading when they should. I mean, it's like everything
you have to upgrade at the right.
Speaker 5 (40:06):
Time, yes, and sometimes then you buy legal sy systems
that's been there for so long that we're not able
to perform for them now demand you know, if you know,
and I maybe air on Ai to assist with the planning.
But the current legal systems are they able to upgrade
you to that particular software or the particular system, which
is a challenge, you know. And there's quality failures and
(40:28):
real works delays, and the big part also is the
late payments. You know, if you're paying your suppliers lad
that can't get your next order on time, that's another issue,
you know. So it becomes an interconnected challenges that overall
create these type of challenges over time.
Speaker 2 (40:43):
We're speaking to Lorato Sabbata to Nunti procrement and supply
chain experts here of the ROI Group. We're talking matters
supply chain on the Money Show.
Speaker 4 (40:52):
The Money Show, How I Make my money.
Speaker 2 (40:55):
Talking matters supply chain tonight and of course some being
wow since we've been able to speak to someone about
this issue, but just getting a deeper understanding of how
it all works. Lorato's about as the procurement and supply
chain expertencyre of the ROI Group. Lorato, I think a
lot of us hadn't really thought much of supply chains
(41:16):
until the pandemic came along and suddenly we were thinking
about supply chains all the time. I remember as the
lockdown were starting talking about food supply change, you know,
and I was suddenly very interested in food supply chains
have supply change because some of them were disrupted, not
food necessarily, but others were. Have supply chained changed much
since the pandemic. There was lots of talk of near
(41:40):
shoring and things like that. Have supply chains really changed
since then?
Speaker 5 (41:44):
Yes, I think a lot of businesses have really treated
supply chain now those type of challenges that we're experienced
in COVID as more of a business continuity, you know.
It's more like the black swan that was the first
thing that has happened that costs the disruption that we
experienced and now risk you know, management and mitigation plans
of put in place have now you know, transformed that
(42:06):
part of thinking tomorrow, how do we continue business if
such happens? In that to be more practical, there's more
introduction of supply diversity, you know, and sourcing closer to home,
you know, interaction, we have issues of localization. A lot
of the items are important, you know, there isn't my
happening locally that government is trying very hard to to
(42:28):
to amplify their b you know, performance and participation just
from that localization. I think that happened post COVID really
was another amplifier in that which we need to solve
for and that has been you know, starting to come
up to place and tightening a lot more contracts and
service levels, right, and how then to become more creative
(42:49):
beinion panels where some supply ten leaders say, how we
now source service provider us through our process in procurement,
we want to look for innovation in the like of
if something like or it could happen, So in the
verses starting to become the center part of how you
then award a particular contracts you know, and particular performance
structure so that you're not found in a vulnerable position.
Speaker 2 (43:12):
It's difficult for a company, though, isn't it, because you
you would have had let me call it a pre
pandemic and a post pandemic supply line and a pre
pandemic supply chain might have cost you one hundred rand
let's just say for argument's sake, and a post pandemic
production line or supply line, a supply chain that you
need costs you twenty percent more than that for something
(43:34):
that's only happened once in sort of five generations. I
mean to try and manage the cost of that to
do it correctly. There might be some companies that will say, no,
we're not going to plan for a black Swan event.
We're just going to take the profit while we can.
Speaker 5 (43:50):
Yeah, I mean, ultimately we need to move with the
times and move with where the market is going. We
have a high pressure with interest rates, economies are changing,
tolbalizations happening is just becoming a big thing. So companies
are really under pressure to start also aligning with those
type of things. And now you cannot go bit pre
covid right. And also your competitors are aligning themselves in
(44:12):
that particular way. So therefore you will either be stuck
or move. And those are they come with the challenges
of prices increase and you know these type of dynamics.
Speaker 2 (44:23):
The way supply chains are going, now, are they going
to involve fewer humans? I mean, obviously humans will design
them and still do a lot of the work, but
do you get a sense I think people are going
to mechanize more and more and you know, feel free
to throw the phrase in AI somewhere. Everyone's talking about
robots at the moment.
Speaker 5 (44:44):
Yeah, that's a topical thing now, which I also had
a conversation with one of the datas in the finance
industries recently that you know, a lot there is now
designs regarding the robots of how to respond to what
we don't want to do every day. You know, there's
a repetitive work that you do every day and how
can I do that faster? But now you're probably going
(45:05):
to need a human being to auto correct that and
maybe insert of input particular probmts that should enable what
you want to get out of that. So it's still
a growing conversation, to be honest, but the future is
going there. But at some point it would have been
fully transformed into AI slash automation. But now humans must
also transform because one of the challenges for courement or
(45:25):
supply chain has is lack of skills. Are we sourcing
the right people for today's world of how we want
this to apply chains to work efficiently? That's another thing.
Talent management another problem, you.
Speaker 2 (45:39):
Know, I mean I would imagine you know that you
need people to design these things. It must be a
very interesting career to get into and at times quite
exciting and quite challenging if things go wrong.
Speaker 5 (45:50):
Yeah, you need people to design this, but also it's
more also on the new age youth that is designing
this new type of creative innovation and markets also market ready.
If you look at our market, it's so much secondary
to the European market, so we always play catch up.
And at the time we catch up, is it where
supplace is at the global landscape? Is another challenge in
(46:13):
a question, you know.
Speaker 2 (46:15):
Is that rate of is that rate of change speeding up?
So it's interrupted? I mean, is it moving more quickly
than it did, say twenty years ago?
Speaker 5 (46:24):
I believe it. It's taking up right now, especially with
like the two thousand generation going forward and how things
are today versus the prior generation. So absolutely the speed
of it is moving for a thousand before, though it
might not be the skill that it would be with
the Europeans, I would say that or Chinese you know
in a ways.
Speaker 2 (46:46):
About it that taking us into the world of procurement
and supply chain management, explaining where you can have problems
and where the disruptions come from. Seven you will listen
to The Money Shows the best bits. Listening to the
best Bits of The Money Show a digestive some of
the most interesting thoughts, comments, and insights this week. If
you'd like to hear more, go to our website or
(47:07):
your podcast app and search for The Money Show. Thanks
for listening. We're back on The Money Show six o'clock
on Monday. Have a good weekend.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Betrayal Season 5
Saskia Inwood woke up one morning, knowing her life would never be the same. The night before, she learned the unimaginable – that the husband she knew in the light of day was a different person after dark. This season unpacks Saskia’s discovery of her husband’s secret life and her fight to bring him to justice. Along the way, we expose a crime that is just coming to light. This is also a story about the myth of the “perfect victim:” who gets believed, who gets doubted, and why. We follow Saskia as she works to reclaim her body, her voice, and her life. If you would like to reach out to the Betrayal Team, email us at betrayalpod@gmail.com. Follow us on Instagram @betrayalpod and @glasspodcasts. Please join our Substack for additional exclusive content, curated book recommendations, and community discussions. Sign up FREE by clicking this link Beyond Betrayal Substack. Join our community dedicated to truth, resilience, and healing. Your voice matters! Be a part of our Betrayal journey on Substack.