Principle’s Post

My top qualities for hiring a new procurement leader might surprise you. I discussed this topic twice this week with Saas companies #hiring their first procurement leader. My list: 👇 ▪️customer service mentality ▪️relationship-building ▪️Ability to influence / sell ▪️collaborative negotiator ▪️proven savings playbook ▪️Processes designed to scale ▪️team-player ▪️Scalable flexibility ▪️Creative problem solving ▪️Aggressive results If these qualities don’t define the procurement person that comes to mind, maybe it’s time to rethink procurement. There is a huge need for effective #procurement right now. Am I missing any attributes?

Procurement is About Building Strong Partnerships: In procurement, success isn't just about managing upwards. It's about fostering collaboration across all levels - working hand-in-hand with stakeholders, peers, subordinates, cross-functional teams, and suppliers. The most successful procurement professionals understand that the best results come from a united effort, where everyone’s voice is heard, and every contribution is valued.

Essential Skills for a Great Operations Manager

Procurement pros are all-rounded individuals. They need to be good at multiple skills to be successful in their roles. - Communication to collaborate with internal and external stakeholders. - Adaptable to find alternative sourcing opportunities in a crisis. - Problem solving to proactively resolve disruptions and delays. - Strategic to secure suppliers with low costs and lead times. - Customer-centric to ensure quality and boost satisfaction. - Collaborative to align internal teams and suppliers. - Detail oriented to audit contracts and save costs. - Tech savvy to enable faster-informed decisions. - Leadership to drive sustainable practices. - Analytical to leverage data and cut costs. Did I miss anything? What are some of the qualities that come naturally to you? Let's talk about it 😁

🚀 Excited to showcase the impressive resume of a friend and industry expert! Ken Bonnett🚀 🔹 Experience Highlights: Successfully led operational and financial oversight for a Fortune 500 account, turning around a $900K YTD loss into profitability. Managed diverse areas including facilities, fleet, carriers, claims, safety, risk, vendor relations, procurement, and budget. Implemented strategic sales initiatives, increasing annual revenue from 14M to 22M in a single region. Optimized last-mile routing with route planning software, achieving a 31% increase in completed stops per truck. Reduced labor costs by 16% across the region through lean processes within cross-dock facilities. Managed logistics operations and updated supply chain activities for a multi-site commercial pharmaceutical distribution network. Oversaw the expansion of commercial pharmacy locations across 22 states, enhancing delivery possibilities. Recruited, hired, and trained field managers, ensuring a skilled and efficient team. Negotiated contracts for efficient transportation services and created efficient production and operational processes. 🔹 Skills & Expertise: Vendor Management Supply Chain Management Organizational Development Sales Strategy Project Management Cross-functional Collaboration Staff Training and Development Logistics Management Operational Excellence Budgeting and Forecasting Customer Relationship Management Continuous Improvement Performance Analysis Succession Planning Strategy Development Facilities Management Operations Management Budget Control Safety Management Customer Retention Data Analysis KPI Tracking Business Forecasting Data Management Financial Oversight Hiring and Onboarding P&L Management Revenue Forecasting P&L Administration Product Development 🔹 Education: Completed coursework towards Bachelors of Business Administration in Business Management - Operations from the University of Texas at Arlington. 🔹 Summary of Experience and Skills: Strategic Operational Management Financial Management Leadership and Team Collaboration Strategic Planning and Consultation Communication and Relationship Building Data-Driven Initiatives Operational Efficiency Performance Measurement and Improvement Project Management Safety Standards and Customer Interaction Connect with Ken Bonnett to explore collaboration opportunities and leverage his expertise in driving operational excellence! Ken Bonnett Feel free to share and reach out for further details. Let's elevate each other's networks! 🌟 #IndustryExpertise #OperationalExcellence #LeadershipSkills #LinkedInPromotion

Procurement pros are all-rounded individuals. They need to be good at multiple skills to be successful in their roles. - Communication to collaborate with internal and external stakeholders. - Adaptable to find alternative sourcing opportunities in a crisis. - Problem solving to proactively resolve disruptions and delays. - Strategic to secure suppliers with low costs and lead times. - Customer-centric to ensure quality and boost satisfaction. - Collaborative to align internal teams and suppliers. - Detail oriented to audit contracts and save costs. - Tech savvy to enable faster-informed decisions. - Leadership to drive sustainable practices. - Analytical to leverage data and cut costs. Did I miss anything? What are some of the qualities that come naturally to you? Let's talk about it 😁

Procurement Vital Signs: Accountability vs. Unaccountability Signs of an unaccountable procurement organization: 🩺 Lack of Ownership: Tasks and decisions fall through the cracks, with no one taking responsibility. 💉 Blame Culture: Mistakes lead to finger-pointing rather than constructive solutions. 🔬 Undefined Goals: The absence of clear objectives leaves team members directionless. 💊 Inconsistent Processes: Procedures vary from one project to another, creating confusion and inefficiency. 🌡️ Weak Stakeholder Engagement: Limited interaction with stakeholders leads to misaligned expectations and results. Transforming towards a culture of accountability: 🩺 Clear Responsibility: Assigning clear roles and responsibilities ensures ownership at every stage. 💉 Learning Environment: Encouraging a culture where mistakes are seen as growth opportunities, fostering innovation and improvement. 🔬 Defined Objectives: Establishing and communicating clear, measurable goals that align with the organization's vision. 💊 Standardized Procedures: Implementing uniform processes across all procurement activities to ensure consistency and reliability. 🌡️ Active Stakeholder Involvement: Engaging stakeholders in decision-making processes to align expectations and leverage their insights. Embracing accountability transforms procurement from a function that merely reacts to challenges into one that proactively drives value, innovation, and collaboration. P.S. Have you experienced the shift from unaccountability to accountability in procurement? Share your journey below!

What experience really matters? Let's discuss! 🤔 I'm seeing many top-performing companies prioritize: Functional skills over specific category expertise Digital literacy and strategic mindset Change management and stakeholder influence Continuous learning and knowledge-sharing abilities The future of procurement lies in diverse backgrounds and skill sets. Hire for potential, provide robust L&D, and watch your team soar! Agree/disagree? And under what circumstances does this approach fall apart? If you have other insights to add, please jump in with a comment - I want to hear your perspective!

I regularly talk to companies who want to hire their first procurement hire but don't know where to start. One of the biggest mistakes I see companies make is that they hire the wrong level or someone who doesn’t have the right experience. Being a “lone wolf” or starting a procurement function from the ground up requires different skill sets than a procurement person who has been a member of a big team. Yes, being the first #procurement hire requires a strong procurement skill set. But it’s also imperative that this person can: 🔸 build relationships across the business 🔸 get buy-in 🔸 communicate really well 🔸 design/build processes rather than simply follow them. 🔸 ideally has a strong network that can help as they inevitably run into challenges. It’s very much an entrepreneurial effort. And the stakes are higher than ever. One viable option that I’m seeing more common today is to consider hiring a fractional leader to implement the function or lead a small team. In my experience, it tends to lead to great results. Kristy shares some great insights in this article (link in comments). Any thoughts on the fractional approach? Would love to hear ideas in favor or against! Thanks in advance for the discussion! 👇

As a Procurement Advisor, influencing diverse, complex, and cross-functional teams can be key to driving successful outcomes. Here are some strategies to consider: 1. Embrace diversity: Actively seek diverse perspectives and ensure all team members feel valued and included in the decision-making process. 2. Build strong relationships: Invest time in building rapport with team members from different functions and backgrounds to foster trust and collaboration. 3. Communicate effectively: Clearly articulate the benefits and impacts of procurement decisions to gain buy-in from varied stakeholders. 4. Adaptability: Be flexible and open to new ideas, and be willing to adjust strategies based on the input from diverse team members. 5. Data-driven approach: Utilize data and analytics to support your recommendations and demonstrate the potential value of procurement initiatives. #Procurement #teamcollaboration #procurementexcellence #procurementtransformation