Great procurement is executed in the following circumstances;
- A staff that is motivated, entrepreneurial, intelligent, diverse and have a shared culture that allows for those values to flourish.
- A corporate strategy that is challenging and fosters cooperation between procurement, it’s business stakeholders and it’s suppliers.
- Mandates that allow each member to take ownership and execute its duties to the best of its abilities.
- Systems that are agile and provide transparent insight into the business. Plus they support the staff in their tasks, especially operational tasks.
- Business processes that are LEAN to the maximum and allow as much work to be done in parallel, without extensive manual labor to keep them synchronized.
- Smarter Together: It’s Procurement and Finance’s Time to LeadOver the last week I’ve attended Sourcing Industry Groups Global Executive Summit. The Keynote was by Coupa’s CFO Todd Ford on “Smarter Together: It’s Procurement and Finance’s Time to Lead”.In it Todd shared a couple CFO insights on interdepartmental collaboration that are core to Procurement Performance Improvement. First: over 60% of CPO’s report into the…