171: 6 Elements to Consider When Benchmarking Your Procurement Team w/ Joseph Richardson

My guest is Joseph Richardson.  Joseph is the President and CEO of Professional Purchasing Partners which he founded in 2014, after a long spell as a practitioner.  Joseph’s most recent buy-side roll was as a Head of Indirect Procurement in the Oil and Gas industry.

In our discussion, we touch on a wide range of topics, from the evolution of procurement to value beyond savings, and much more. One of the points that really resonated with me is when we talked about the notion of best-in-class procurement and benchmarking our organizations against others.

I, personally, I don’t want to be best in class. I just want to be good at what I do. And so, what I want to do is make sure that I understand the dynamics of my company. What will work and what won’t work. And so, I have to take into consideration six different elements as I go through that evaluation process.– Joseph Richardson

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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.