Over the last two decades, top-down mandates have largely fallen out of favor. Executives fostered more forgiving environments in the effort to retain employees and distribute decision making. In procurement, this translated to decentralized sourcing and buying activity and even local process exceptions.
Today, however, companies are struggling under the weight of inflation and continuing to watch the horizon for signs of recession. Executives are moving to bring back the centralized control of the past. Savings are no longer nice-to-have for extending budgets, they are a must have for operational continuity.
In this AOP Live session, we welcomed Matt Reddington, VP of Operations of Procure Analytics, and Mu Wagh, their Chief Operating Officer, to provide advice for navigating the transition back to centralized control without letting the pendulum swing too far.
They answered live questions about:
- How to increase and ensure compliance without adding friction to the procurement process
- Tracking savings as a measure of purchasing efficiency and also of procurement success
- Creating mechanisms for gathering feedback from different user groups as a way of making sure procurement is delivering what they need to do their work