“It’s important to understand who your suppliers are working with because eventually, you’ll be part of that landscape as well”

In this episode of Powering Procurement, we’re joined by Luke Banks, Global Head of Contracts and Procurement at Plastic Energy, a business at the forefront of transforming plastic waste into a truly circular economy. Luke shares his journey from engineering into procurement, explaining why his move was a deliberate career choice rather than an accident.

With experience spanning manufacturing, construction, healthcare, retail and energy, he reflects on how a technical background can strengthen negotiation, supplier relationships and strategic decision-making. We explore how procurement supports Plastic Energy’s global sustainability mission, from responsible supplier onboarding and ESG metrics to risk analytics and strategic partnerships. Luke also offers candid insight into building procurement functions in fast-growing organisations, leading teams through change, and balancing strategy with operational delivery.

The conversation dives into digital transformation, AI, and why well-implemented technology is essential for freeing procurement teams to focus on value rather than administration. Luke also shares what he looks for when recruiting procurement professionals, how the perception of procurement is evolving, and why communication skills are central to long-term success.

To round off the episode, Luke talks about his passion for horology and what working in the mechanical watch industry taught him about craftsmanship, supply chains and pursuing work you genuinely care about. A thoughtful, wide-ranging conversation on modern procurement, sustainability, leadership and career choices.

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