It is another holiday week, so another solo show. This week, I share 10 different best practices that I have observed procurement services providers implement to increase the ROI of the programs that they deliver to clients. In the show, I discuss how these best practices are just as relevant to internal procurement groups as they are to outsourced programs.
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As part of my day job, I advise clients on how to lever third party services to supplement and increase their procurement capabilities, leading to improved stakeholder engagement and increased procurement ROI. I get to observe a number of techniques and best practices that these third-party procurement services firms use to drive the success of their client programs.
For this episode, I share 10 different best practices that I have observed that you can apply today to increase the ROI of your internal procurement team.
In this episode, you will learn:
- Insights into 10 best practices that you can use to increase the ROI of your internal procurement team:
- Stakeholder SOW & KPI’s
- Evolution of procurement scope and services
- Talk the language of your stakeholders
- Formal program/stakeholder governance
- Use of market intelligence
- Follow the money with Finance
- Lever strategic roadmaps
- Treat your stakeholders as you would a sales prospect
- Pick the most important metric and measure it
- Allow process flexibility and deliver outcomes not process
Links and Resources:
- Philip Ideson on LinkedIn, Twitter and Procurious.
- Finding Supply Market Intelligence without investing in third party service provides – Episode 6 of the Art of Procurement with Kelly Barner.
Thanks for Listening!