Pitching For A Procurement Transformation? Here’s Your Checklist Before You Take the Big Leap
Procurement transformation is a continuous process evolving with technological leaps and digital revolutions. Touchless procurement, ease of discovery, catalog-based buying, sustainable procurement, catalyzed ESG policies, and visibility across the value chain are some benefits that can emerge from a procurement transformation if executed with precision and fastidiousness. However, pitching for procurement mutation can be a tricky task.
Pitching to the Manufacturing Head
A presentation is more likely to succeed with the manufacturing chief if it pivots around the overwhelming importance of digitization and decentralization. A catalog-based purchase platform will tabulate and digitize the list of reliable vendors, which will, over time, aid in filtering out suppliers whose performance and cost-effectiveness outmatch others.
Pitching to the CFO
If a pitch must be made to the CFO, the procurement transformation is more likely to come to fruition if it emphasizes the anticipated cost reductions that will accompany the weeding out of teams engaged in non-value-generating activities.
Pitching to the CEO
A procurement transformation prioritizing customers and their responses will draw greater attention from the CEO.
Why Does Your Company Need A Procurement Transformation?
1. Evaluating the Topline and Profitability Impact of Procurement Transformation
2. Measuring Success at Each Milestone of the Project
3. Avoiding Common Roadblocks
4. Getting Quick Wins
The Final Word
In the new scenario, a procurement officer will have to forego the reliability, stability and predictability of the old matrix and anticipate new seismic shocks to the procurement chain from all corners. These shocks could be systemic, as was the case with the pandemic or financial, as is the case with inflationary pressures or triggered by larger geopolitical tensions. The work of tightening the nuts and bolts of a procurement pipeline is seemingly unending and is a part of the business hygiene of a company.