Last week I attended ProcureCon EU in Barcelona alongside 450 Procurement professionals. The event underscored the remarkable breadth and potential inherent in procurement.
I was glad to see that the discussion started by asking how we earn a rightful place at the decision-making table. The answer was by aligning with business leaders and business value. That set the scene for the remaining event.
Discussions spanned technology, talent acquisition, and the multifaceted dimensions of business value, ranging from regulations and environmental stewardship to social responsibility and social enterprise. Artificial intelligence was a key focus as well, along with recognition of the growing reality of the triple bottom line, driven by environmental and social governance legislation.
In essence, procurement professionals have to be adept at navigating complex business environments. Forging alliances with stakeholders, and delivering value through agile problem-solving is what is expected from Procurement. The challenge, as so often, lies in initiating action when the world around us keeps changing.
I presented a keynote on Cirtuo’s Strategic Alignment Matrix (SAM), which nicely connected to the opening question, and tied it to the core function of Procurement: Strategic Category Management. It was clear from the reaction in the Conference Room that aligning procurement activity to business value is a critical success factor for procurement teams - and still a big challenge. Providing Procurement with a simple, yet effective framework to capture, translate, align and deliver value for the business was therefore well received.
Procurement leaders need to chart a bold course to deliver business value beyond savings targets - SAM is an essential tool for this transformational change.
#cirtuo #categorystrategies #strategicalignment #procurement #procureconEU
Financial Services & Payments strategist, Technology enabler, Ecosystems builder and Board Advisory Certified Chair™
1wHave a great event Jamie and RightSpend team