Supply chain disruptions have shown why procurement managers should have a seat at the executive’s table. Here’s how they can get there.
The following is an opinion article written by Ajith Gopinath, Mondelēz Asia Middle East Africa procurement lead for manufacturing, supply chain and infrastructure investments.
It's time to reinvigorate the debate on whether procurement deserves a seat at the C-suite table.
The debate is an old one for many companies. But the pandemic created a tailor-made opportunity for procurement officials to make a newly compelling argument.
The case is clear: In a rapidly changing landscape, procurement will have a significantly bigger role to play in driving growth and profitability for businesses. Giving procurement a seat at the C-suite table can help minimize shocks, increase predictability and make companies more nimble.
So, how do you convince a C-suite executive? Here are some tips.
When preparing to make the case, consider the value procurement can bring to the table.
Procurement professionals have a well-developed set of supplier relationships, network connections and information channels that they can readily tap. As a result, they have built up a repository of commercial and market knowledge that results in a built-to-suit sourcing strategy when connected to internal business needs. Don't forget to leverage that.
Since the pandemic, top-to-top engagements between customers and suppliers have become more frequent and intense than ever before. Such engagements, which are critical to business continuity, are also an excellent opportunity to prove procurement's value to the company.
Remember: Procurement professionals play a critical and lead role in guiding conversations towards a win-win for both parties. If executed well, these are the key moments that trigger a rethinking of the role of procurement in the minds of senior leaders.
Here are a few other ways procurement leaders can make inroads with their CEO
The jury is still out on whether procurement is firmly on its way to the “big leagues.” But there’s never been a better time for this pivotal role to take center stage.
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A timeline shows how safety issues at a plant in Sturgis, Michigan led to inventory shortfalls nationwide.
An executive with the company's ocean shipping arm, which counts Dole and Chiquita as customers, said the strategy has helped with schedule reliability.
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Topics covered: logistics, freight, operations, procurement, regulation, technology, risk/resilience and more.
A timeline shows how safety issues at a plant in Sturgis, Michigan led to inventory shortfalls nationwide.
An executive with the company's ocean shipping arm, which counts Dole and Chiquita as customers, said the strategy has helped with schedule reliability.
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Topics covered: logistics, freight, operations, procurement, regulation, technology, risk/resilience and more.