Thank you to Procom and specifically Kal Price, MBA, Six Sigma for the thoughtful questions asked during our webinar last week. Thank you to the people that invested your time to listen live. For those that couldn't (which I am in that camp for live webinars), and want to listen - sharing a link to the webinar (be warned it is 40 min.) but hope the answers helped provide new insights/perspectives that help you grow as a supplier or someone who shares my view #procurementiscool
Link to webinar: https://lnkd.in/gpQm8j6k
After the session one of my suppliers shared a summary of their key takeaways (Thank you Sandy) - thought I would share if helpful. If you have any takeaway that you want to share, further questions you may have, welcome any comments or even a different perspective to what I shared - lets keep the discussion going.
A. TIPS for optimizing the Category mgmt. and labor program.
You articulated 3 key steps:
1. Process – You are a great proponent of LEAN and Six Sigma methodologies. Start with mapping current state, understand where waste and pain points are and this will help map a proper roadmap and end goal.
2. Relationships- Cultivate good relationships with suppliers, understand the suppliers – their capabilities, challenges, goals etc. Also, understand your business's needs and requirements and ensure the business understands procurement is an enabler to achieving the desired outcome.
3. Strategy – this will take time…maybe years, but the team needs to walk the journey along with the suppliers and business with properly set milestones.
B. Transforming external labor.
a. Your Rain-storm-hurricane model was well received, and the ‘rate increase’ example made it easy to understand.
C. Optimizing technology spend
a. AI ChatBot is an excellent initiative that your business can leverage.
i. One of my key takeaways was your focus on data integrity and ensuring that there is very little variation of data. This is critical for the success of AI programs.
ii. Bring in a ‘product mentality’. Know your customers…their wants, and their needs. Identify key personas and each persona's needs/requirements.
D. Developing category strategy.
a. Segment suppliers – another crucial topic – you explained it well
b. Focus on understanding how suppliers are positioned on 3 aspects – BETTER, FASTER, AND CHEAPER – high quality, speed, and not necessarily low price but better ROI
c. How well the supplier understands Mastercard and how your team can help them understand Mastercard’s focus areas.
d. Understand the supplier’s social responsibilities, roadmap, and journey to date – around sustainability and community focus.- what impact the supplier creates on the community -their mission and approach.
#lovemyjob
