In this age of supply chain disruption and market shocks, what are the key attributes Procurement need to navigate these challenging times to sustain value:
- Understand the business and supply market
- Without the fundamentals of understanding your business needs, Procurement cannot align its supply side strategy to support business success
- Finding and matching the right strategy to those business goals requires procurement leaders to act and think like business managers
- Transformational leadership
- Transformation and change management requires procurement leadership to have a clear vision with benefits that can be articulated appropriately across the different stakeholder groups. Communication skills are critical.
- Walk the talk, leading by example, helps build trust with stakeholders
- Know the Technology
- Technology is only an enabler – it is only one element of the success equation
- Map and apply the right Technology based on the maturity of the function and organization
- Transition the Operating Model
- Change the model – insanity is doing the same thing again and again, yet expecting different results #
- Take small bite steps that support incremental improvements in a steady direction
- “Sell success based on success”
- Collaborate with Partners to Innovate
- External supply side resources are typically the largest single resource pool available to the organization – involve your partners in your business challenges
- Share benefits to encourage win/win
- Operate flexibly and transparently
- Open your mind to alternative approaches
- Challenge and change to seek better ways
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