Inspired by several Procurement Transformations I have been involved in, I posted these items to help you determine if it is the right time to consider your own procurement operations.

In the first post, I ask 5 questions to help you figure out if the time is ripe.

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/procurement-transformation-has-your-time-come

The next posts dig into each of the questions.

Is your spend under control? Is your mandate to help drive value across all external spend? Probably not. But how many exclusions are legitimate areas where your ability to help is limited, and how much is fiefdom protection?

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/Is-your-spend-under-control

Where is the money going? Do you know who is getting your money and for what? It is a basic question, and yet it is surprising how poor the insight is in many procurement shops. And it gets worse from there.

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/where-is-the-money-going

Are you efficient? This can vary by industry, and by the scope of what you have taken on. If you develop and lead commodity strategies, and manage all the vendor contracts across the board, you will have a bigger team than if you just cut POs. Be sure you have the right scope to deliver value within the organization, that you are the most efficient and effective for everything you do.

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/are-you-efficient

I like the 7 sourcing models as a powerful way to drive the right discussions with the business - what deal makes sense?

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/which-model-is-right-for-which-deal

If the deal is complex, and they will be increasingly so, having a way to make them happen becomes very important. You can no longer trust that you will be able to make it up as you go.

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/7-sourcing-models

How do you know you are successful? How you measure your success and contributions to the business is an important aspect. Is it relevant to the rest of the business, does it demonstrate that you are a key player in moving things forward?

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/how-do-you-know-you-are-successful

What are you doing to prepare tomorrow? We know procurement is important, and we saw how important it was as we all struggled with massive and wide spread disruption. How well is your organization prepared for the next unexpected disruption? What are you doing to increase your contribution and improve your readiness?

Preparing your talent for the future is probably high on your list of challenges. This post helps get an idea on what skills will be making you successful tomorrow

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/procurements-next-challenge

What can you expect if you do go down the disruptive path of procurement transformation?

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/so-what-can-a-company-expect-from-a-procurement-transformation

So, assuming the time has come, where do you start? The ROSMA (Return On Supply Management Assets) model shown here demonstrates how procurement can demonstrate its value to the organization. But the value can go far beyond this stark matrix, reducing risk, building resiliency, ensuring performance and compliance, enabling strategic initiatives for the business:

https://app.pubfunnels.com/v2/preview/HaHhFCr3ll3hLlMn7OXf/b/where-to-start

Like what you saw here? Let's talk. Fill out the contact form or give me a call.

Nick Seiersen

647 299 8360.