The podcast series that’s all about minding your business in contract management and source-to-pay.
The new Determine ebook, The Procurement Maturity Curve: A Four Stage Hierarchy of Value, pulls together multiple perspectives in an attempt to better understand procurement’s maturity progression from savings and compliance all the way up to supplier collaboration. To bring a European point-of-view to this topic, I had a Determine OutLoud conversation with Eléonore Roucaute, Determine’s EMEA Marketing Manager.
Some elements of the maturity curve are universal. For instance, it is natural to want to master the fundamentals before attempting anything more complex. Just as a person stranded alone in the woods will first secure food and shelter, someone who has certain access to food and shelter will want comfort, convenience and entertainment.
Each company has a different maturity profile and progression as a result of its industry, size, and competitive landscape. Understanding how those macro conditions affect procurement’s investments in technology and talent is critical for CPOs looking to satisfy their key KPIs.
Once procurement has mastered the fundamental objectives of savings and compliance, our role can expand to one that also includes contributions to overall business strategy and the occasional pleasant “surprise.”
Savings will always be a part of the procurement conversation, but the nature of procurement’s relationship with savings and the way we go about delivering it are subject to reconsideration.
In this Determine OutLoud discussion, Eléonore will answer questions such as:
- How well are procurement teams satisfying their survival-level needs today?
- What competencies are maturity-driven CPOs purposefully adding to their teams?
- What does an effective procurement professional bring to the table in a mature organization?
Thanks for listening in.
Determine OutLoud is our podcast series that minds your business in source-to-pay and contract management. If you’d like to be a guest on Determine OutLoud, would like to suggest someone or have an idea for a topic, we’d love to hear from you.