Frameworks Transformation Journey

160: The Success of Sourcing Business Models at GuideWell w/ Tim Cronin

My guest this week on the pod is Tim Cronin, the CPO of GuideWell, a not-for-profit mutual holding company in the healthcare industry. Tim and I connected live at the SIG Fall Summit in Carlsbad, California, where we had an opportunity to talk about his journey with Sourcing Business Models in a presentation with Kate Vitasek, founder and lead researcher for the Vested business methodology.

What I really enjoyed about our conversation is that Tim shared putting the theory of ​​Sourcing Business Models into practice – what worked, what didn’t, and what lessons were learned along the way.

“We’ve used sourcing business models really to redefine supplier segmentation and more importantly redefine the activities that happen once you’re in that segment.” – Tim Cronin

Highlights from the Show Include:

  • Guidewell’s process for rounding out the skills and talent of their procurement team.
  • Overcoming procurement’s stereotypical reputation to bring top talent over from other functions.
  • Tim explains what sourcing business models are and how they can transform procurement’s impact and results.
  • The challenge of running strategic RFPs while still building relationships with suppliers.
  • How the Vested model has helped GuideWell move from an ‘approved’ supplier list to performance driven supplier relationships.

Links and Resources:

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.