This podcast was published on January 24, 2020 by Procurify.
This interview is taken from an episode of the Spend Culture Stories podcast. In this episode, Kelly Barner from Buyer’s Meeting Point chats with us on the new role of the procurement executive, and how procurement can reclaim itself as a key function in an organization. She explains the hilarious and shocking stories behind how the role of procurement is behind everything that we see.
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“Our process was about intentionally forgetting how we had done business in the past. The Ford team wanted to leave our legacy baggage at the door and start over based on industry standards, best practices, and the P2P capabilities that existed - not only from a procurement process perspective - but also for our requisitioners, our tax team, receiving organizations and accounting. We took a comprehensive view (beyond procurement) to ask how we could streamline, simplify and leverage technology to do so?"
Lisa Smith, Former Global Director, Global Purchasing Business Transformation Management at Ford Motor Company
This content was originally published on the Determine blog.
If procurement wants to succeed in 2020, we need to measurably improve all of procure-to-pay (P2P). Of course, in order to do that, we have to improve how the company purchases goods and services and also how it handles supplier payments. While that seems logical and straightforward, most procurement teams neither procure nor pay. What we are left with is a situation where we need to empower those who will ultimately carry out the work.
This is a classic management situation. A team leader can only increase their impact so much without achieving scale, delivering a multiplier effect by supporting and incentivizing the actions of others. What can procurement do to make distributed buyers (procure) and accounts payable (pay) more effective? We can provide them with the information they need, coherent processes and fully rounded supplier understanding.
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