“When I think about portfolio management, the first thing you need to do is come together as a leadership group to understand how procurement is translating the corporate strategy. That should provide guidance as to what’s most important.”
Procurement teams are tasked with moving the ball on so many ‘important’ projects in parallel that it can be hard to put them in priority order. In fact, procurement could ask five executives which effort – cost savings, risk mitigation, or ESG – is the most important to the company and get five different answers. Clearly, building a mechanism to decide is the right place to start.
In this episode, Philip Ideson is joined by Chris Riley, a Principal in Supply Chain and Procurement at Deloitte Consulting based in Perth, Australia. Chris has experience in a variety of procurement roles in the UK, Singapore, and Australia, with companies such as Ford, Cap Gemini, Lloyds Banking Group, and Rio Tinto.
During the conversation, Chris and Phil have the opportunity to discuss:
- Where procurement should go next, after the elevated role they have taken on over the last couple of years in response to supply and cost pressures
- How portfolio management and leadership strategies based on operational excellence can drive significant short and long-term improvements in procurement performance
- The role procurement can take on to support the corporate desire to spend with a social conscience