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

By November 13, 2017 June 1st, 2020 No Comments

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 discussed 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.

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