Procurement has long managed spend, implemented tech, and committed resources based on the 80/20 rule.
But given how we’ve matured as a profession, should that 80/20 split still be based on total spend? Not if procurement wants to drive incremental impact.
Adam Brown is the lead for transforming and digitizing source to pay at AP Moller – Maersk. He and his team are breaking down procurement preconceptions and unleashing their potential for impact by rethinking their 80/20.
Rather than focusing their efforts on managing 80% of total spend, they are revolutionizing how they manage the 20% of spend that is unique to their company and industry.
During our AOP Mastermind LIVE 2022 digital event, Adam joined the AOP team to share how he uses the familiar 80/20 paradigm to challenge how procurement implements technology and break down our own barriers about what procurement can and should be doing to drive value.