Not long after the United States declared a public health emergency regarding the COVID-19 pandemic, I released a white paper about a consulting firm’s unique approach to digitally transforming a global procurement practice.
Titled “Achieving Digital Success: Why the Digital Transformation of Procurement Is More About Mindset and Methodology Than Technology,” here is the closing excerpt from that paper:
“The role of Procurement is rapidly evolving. The traditional function that focuses purely on cost reduction is shifting towards a more strategic entity focused on driving enterprise-wide value.
There is an increasing demand for Procurement organizations across the globe to perform a larger, more strategic role in overall corporate growth while delivering sustainable business value. In their effort to meet these new conditions, procurement organizations must transform their legacy processes, structure, and customs and align them with the ever-changing needs of the company.
Traditional methodologies and mindsets will not facilitate this transformation. An updated and more timely strategy development and implementation methodology “delivered” through a new consultancy model are needed to deliver significant benefits resulting in long-term sustainable procurement value.”
They say that timing is everything, and as we now all know, February 2020 was not the “optimal” time to publish a paper – or introduce anything new.
As the world shut down, opportunities to present the paper were understandably far and few between. Let’s face it: everyone was in crisis management mode, dealing with lockdowns, establishing remote working environments, and staying safe and healthy.
Over the last couple of years, I periodically thought about this paper, especially as it became increasingly clear that the prescribed “methodology” of successfully transforming a procurement practice digitally would be essential to the organization’s success.
The “Velocity” Model
Better late than never, I want to share with you this white paper – which, interestingly enough, might actually have gotten better with age, e.g., more timely and relevant than when it was first released.
Please have a look – it is not a long read, and let me know what you think.
The Velocity Procurement Model
30
Procurement Insights
Achieving Procurement With Velocity (Before And After The Pandemic)
Posted on February 19, 2024
0
Not long after the United States declared a public health emergency regarding the COVID-19 pandemic, I released a white paper about a consulting firm’s unique approach to digitally transforming a global procurement practice.
Titled “Achieving Digital Success: Why the Digital Transformation of Procurement Is More About Mindset and Methodology Than Technology,” here is the closing excerpt from that paper:
“The role of Procurement is rapidly evolving. The traditional function that focuses purely on cost reduction is shifting towards a more strategic entity focused on driving enterprise-wide value.
There is an increasing demand for Procurement organizations across the globe to perform a larger, more strategic role in overall corporate growth while delivering sustainable business value. In their effort to meet these new conditions, procurement organizations must transform their legacy processes, structure, and customs and align them with the ever-changing needs of the company.
Traditional methodologies and mindsets will not facilitate this transformation. An updated and more timely strategy development and implementation methodology “delivered” through a new consultancy model are needed to deliver significant benefits resulting in long-term sustainable procurement value.”
They say that timing is everything, and as we now all know, February 2020 was not the “optimal” time to publish a paper – or introduce anything new.
As the world shut down, opportunities to present the paper were understandably far and few between. Let’s face it: everyone was in crisis management mode, dealing with lockdowns, establishing remote working environments, and staying safe and healthy.
Over the last couple of years, I periodically thought about this paper, especially as it became increasingly clear that the prescribed “methodology” of successfully transforming a procurement practice digitally would be essential to the organization’s success.
The “Velocity” Model
Better late than never, I want to share with you this white paper – which, interestingly enough, might actually have gotten better with age, e.g., more timely and relevant than when it was first released.
Please have a look – it is not a long read, and let me know what you think.
The Velocity Procurement Model
30
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