Procurement has been on an evolutionary journey from the addition of strategic sourcing and category management, the first examples of digitization, and expanded performance objectives including value creation, risk management, and reduced emissions. As procurement’s scope grew and changed, the concept - and the examples - of true procurement excellence have necessarily changed as well.
Excellence always denotes going above and beyond what is necessary, and so therefore there is not a common path to follow. Excellence is identifiable once seen - and emerges when procurement dares to try new approaches in return for elevated results. Although the business outcomes vary, excellence is first and foremost a mindset; it is a refusal to be defined by what has been done before or even what has been proven. It combines differentiated results, relationships, and reasoning to transform overall company performance.
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