Event takeaways: Putting words into action
Business partnering
Must read PL resource
Research analysis: The search for true business alignment
CPOs believe they are closely aligned with the needs of the rest of the business but recent research from Procurement Leaders finds the reality is quite different
READ MOREKey actions
Design your function in a way that enables alignment with the organisation – either by mirroring the structure of the business or creating a clearly defined business-partnering role. Vattenfall, for example, has delivered cross-functional synergies and successful collaboration by reorganising the procurement team to align with business units and embedding procurement specialists.
Five hours The amount of time category managers spend each week developing cross-functional teams, on average
Category management and business alignment: Delivering value beyond savings, Procurement Leaders
Technology
Must read PL resource
Procurement Leaders' view on digitalisation
Although digitalisation is the number-one priority for CPOs during 2019 (after cost savings), according to Procurement Leaders’ CPO challenger guide 2019, just 7% of procurement chiefs recognise a digital project as their proudest career achievement
READ MOREKey actions
Advanced technology offers procurement teams an opportunity to make decisions quickly and efficiently – freeing staff to build stronger, more valuable relationships with stakeholders and suppliers. Teams investing in technology-enabled risk management programmes, for example, are driving engagement with stakeholders and offering new forms of value through supply chain transparency, brand protection or cost avoidance.
$50m Savings through cost avoidance delivered by Brose’s Argos risk management solution
Supplier relationship management
Must read PL resource
Insights Now: Enabling supplier collaborations
The future of procurement depends on the function’s ability to partner and collaborate with internal stakeholders, but is this a skills issue or more of a structural problem?
READ MOREKey actions
Adjust your function’s mindset and culture to ensure supplier relationship management (SRM) produces results. Harm Veerkamp, founder of AIE Company, said successful supplier partnerships require open engagement, curiosity, a focus on reciprocal value creation, and an even balance of power between the parties.
49% The proportion of collaborative projects led by buying organisations with a supplier relationship management programme in place that end in failure
Supplier relationship management, Procurement Leaders
Upcoming Events
Plan ahead and join us at an upcoming event
Agility & Transformation Forum
A two-day event dedicated to improving stakeholder collaboration, delivering business value and creating competitive advantage.
Ritz Carlton, ChicagoEvent themes include:
- Trust: How to change the perception of procurement from a policy enforcer and road blocker to a respected business partner
- Transparency: Increase visibility with internal business partners and external suppliers, to develop stakeholder trust & clear business partnerships
- Profitability: Ensuring the procurement function continues to expand its scope to include further revenue enhancing activities
Data, Intelligence & Technology Forum
A two-day event focused on improving your end-to-end digital strategy with an emphasis on the talent and skills required leverage data and technology
Code Node, London, UKEvent themes include:
- Solving the talent and technology conundrum: How you find the right balance between upskilling your existing team while bringing in external expertise to drive digital initiatives forward.
- Leveraging the big data value chain: The practicalities of embeding big data analytics into your function’s workflow to increase efficiency of spend management and supply chain visibility.
- Designing a strategy that embraces a fail fast, win faster mindset: How to create a fluid strategy and agile culture that allows you to easily pivot without starting from scratch.
Asia Pacific Procurement Congress
A two-day Congress, gathering Asia Pacific procurement executives to discover and discuss the processes, tools and behaviours needed for procurement to deliver value that contributes to top-line business growth.
Singapore, SGEvent themes include:
- Organisational design, talent and culture: Implementing a structure and culture to develop a world-class procurement team
- Operating model, processes and delivery mechanisms: Developing partnerships for increased business impact and C-suite trust
- Technology and access to relevant data sources and insights: Embracing digital opportunities to help reposition procurement as a valued business partner