Let me tell you about Procurement…
So many in the world hear the word “procurement” and are confused as to “what people do in procurement” or pissed off because “procurement” slowed down my last sale.
After spending 20+ years in Corporate Global Procurement, I have seen the good, the bad and the ugly when it comes to suppliers selling goods and services.
In the recent Deloitte 2020 Chief Procurement Officer Flash Survey, Pandemic procurement: the stakes are raised and complexity grows, the “new normal” priorities have shifted for companies.
=> By understanding what is important to your customer (as you sell to and through Procurement), your success probability raises exponentially. [link to full survey insights in comments]
The survey revealed the following priorities:
☆ Cash is king
☆ The team matters
☆ Fighting fires
☆ Hand-to-hand combat, supply continuity
☆ You can’t manage what you can’t see
☆ The not so passing storm, covid has created potential for a longer economic downturn
☆ “Next Normal”? #VirtualProcurement
☆ To consolidate or not to consolidate…
☆ Enhancing business performance
☆ Hindsight in 2020
Don not be scared or fooled that Procurement is an “admin” function that just makes me “follow rules”. Procurement organizations (including strategic sourcing and supply chain) are filled with smart, business savvy people; that are stretched WAY TOO THIN and are expected to deliver monumental results.
You don’t get what you don’t ask for.