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Kaitlyn Krigbaum specializes in HR & Marketing Procurement consulting at Source One, a Corcentric company, providing strategic decision support to help companies invest in their greatest assets, their people and their brands, while concurrently branding the role of procurement as a value-added partner. 

Momentum and Sustainability Create Impact: How Marketing and Procurement Can Deliver Business Growth (Part 2)

In part 1 of this series, I addressed the misaligned nature of the past relationship between procurement and marketing – as well as the disruptive potential for companies that can bring these two teams together. In this post, I will build on the intangible steps marketing and procurement can take to work as a more cohesive partnership by discussing what they can really do to harness collaboration?

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Momentum and Sustainability Create Impact: How Marketing and Procurement Can Deliver Business Growth (Part 1)

We’ve seen a recent trend of Fortune 1000 companies reducing their agencies by almost half to optimize spend and increase productivity within marketing.  This has been a gradual, strategic consolidation effort to improve the effectiveness of their investments. 

Although marketing budgets are experiencing significant cuts, it is critical to understand marketing is a complex—arguably THE most complex—spend category, and procurement must not treat it the same as other spend categories.  As Jon Moeller, CFO of P&G explained about its consolidation efforts, “we are not looking for cuts, but to shape spend to increase efficiency and effectiveness.”  This statement may beg repeating as 94% of procurement professionals continue to focus on cost-cutting metrics as the key measurement of success, according to an ANA survey.  A cost-only focus may significantly reduce marketing ROI and deliver poor brand performance.  To maximize the benefits of both departments’ strengths, marketing and procurement have to focus on ONE underlying theme: teamwork.       

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