Best Of How To Value Beyond Savings

066: Where to Look to Generate Procurement Driven Value w/ Joanna Martinez and Jordan Early

In the second part of our Value Based Procurement series, I am joined today by former CPO & Founder of Supply Chain Advisors Joanna Martinez and Jordan Early of Old Street Labs.

Joanna, Jordan and I explore where to look to find opportunities to create value for our organizations.  We discuss a wide range of options, from supplier driven innovation to how to make a stakeholders experience with procurement more streamlined and user friendly.

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“For many years people touted that every dollar you save dropped right to the bottom line. It was better to save than it was to sell, because for every unit you sold only a small portion dropped to the bottom line. I think what got missed in that is the fact that you can sell so much more. That sales number can be so much bigger, and add so much more to the company than you can ever save.” 

In this episode, you will learn:

  • Why we need to shift the conversation with our leadership team from providing savings to providing value
  • How can you find an organizational pain point around which we can create value?
  • Is Spend Under Management really a metric we should be focusing on?
  • Examples of different areas around which we can provide value, including:
    • Using technology to enable to frictionless stakeholder experience
    • Increasing sales through CSR initiatives
    • Facilitating supplier led product innovations

Episode Transcript (PDF):

  • Click here to download a copy of today’s episode transcript (PDF).

Links and Resources:

Thanks for Listening!

About the author

Philip Ideson

Philip Ideson is passionate about the role that procurement professionals and leaders can plan in creating competitive advantage for their organizations in ways that go beyond the traditional value proposition.

Philip founded Art of Procurement as a way for the procurement community to learn from each other, increasing the impact they have on their organizations. In 2017, he co-founded Palambridge, a virtual platform of procurement experts, technology, and intelligence. Palambridge provides a broad range of flexible procurement solutions, available on-demand.

Prior to Art of Procurement and Palambridge, Philip enjoyed a career that spanned the procurement value chain, working across three continents for organizations such as Accenture, Procurian, Ally Financial, Pfizer and Ford Motor Company.

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