People, Process and Technology: The Path to Sustainable Procurement Transformation

Gary Stoddard

Partner at Nitor

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As the role of Procurement continues to evolve, organizations are challenged to find new ways to drive sustainable value. To meet these challenges, many organizations are undergoing initiatives on “Procurement Transformation” - a phrase that has become commonly used, however it is often misrepresented and poorly executed. The key ingredients to successful and holistic Procurement transformation includes strategies that address people, process, and technology aspects. All three elements should be in sync to maximize value and performance. Unfortunately, we often see significant gaps in the assessment and execution of such Procurement transformation efforts. In this session, we will review the important contributions of each element and how they work together to deliver optimized result.

Key Takeaways:

  • The value of critical reflection / assessment to build an integrated roadmap for transformation

  • Investing in technology as an enabler and the key aspects to successful implementation and adoption

  • The foundational importance of strategic processes and organizational structure to fuel transformation

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