“I think we are at a tipping point where procurement is no longer a command-and-control, center-led, centralized kind of process. Because businesses need to move fast, they have given a lot of agency to employees to make business decisions. I think we are at a tipping point for procurement to become a self-driving process.” —Lalitha Rajagopalan, Co-Founder and Head of Strategy and Marketing at ORO Labs
It is not easy to strike a balance between the need for speed, control, and compliance.
Get it right and you’ve unlocked the X factor. Get it wrong and the customer experience will suffer.
The business wants more convenience but procurement is wired to ensure control. Can procurement satisfy both at the same time?
In this session from Mastermind LIVE 2022, Radhika Samant, VP of Finance and Head of Global Procurement at Optimizely, and Lalitha Rajagopalan, Co-founder and Head of Strategy & Marketing at ORO Labs, share their thoughts on the procurement X factor and why it is so critical to transformation.
They shared their perspectives about:
- How procurement can be a revenue driver as well as a cost manager
- What is driving the shift towards decentralized procurement activity and ownership
- Ways that new digital capabilities are allowing greater freedom spending without sacrificing oversight
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