Managing Procurement’s Brand Within the Business

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Managing Procurement’s Brand Within the Business

Branding is an exercise in putting a coherent face on a product, service or corporate entity.  It makes the nature of the business being done and the philosophy behind it visible and transparent.

And for procurement, branding can be challenging.  Procurement’s role is rapidly shifting, becoming integrated with the business goals of the entities they serve as an integral part of how they serve them.  So, managing the procurement’s brand within the business demands that the shifting face of the sector serve the project of an effective branding initiative.

Where’s the emotional connection?

An effective brand connects with its market emotionally.  On a visceral level, the brand adheres to consumer consciousness, compelling loyalty.

So, where’s the emotional connection for procurement’s brand?  That’s largely determined by perception. And if procurement is perceived as a cost-cutting sheriff, counting the post-it notes and pens, then the perception is creating a notably negative emotional setting.

With procurement’s rising prominence as a driver of profitability, innovation and fidelity to ethical corporate missions through the supply chain, comes a re-branding opportunity.

A shift in perception may only be affected by the observer, ultimately.  But what procurement professionals need to do to shift that perception is to re-brand procurement’s true value.

That’s achievable through individual and collective engagement, meeting and exceeding expectations, extending innovative and meaningful transformation through data and technology and aligning itself with corporate goals.

Overall these perception-shifting actions is the umbrella of corporate culture.  Re-defining the mission of procurement in the light of his guiding framework is the key to the emotional connection a good brand establishes with its market.

A trusted advisor to leadership

While cutting costs is an impressive feat, leadership wants more from procurement now.  And procurement is positioning itself to take on the mantle of trusted advisor. And therein lies the brand.

Procurement leaders are now seated at the right hand of senior leadership, advising on corporate planning and budgeting.  In this space, they’re empowered to explore and innovate toward less costly and higher quality alternatives, often implicating key suppliers in the realm of development.

Innovation and insight

In working closely with suppliers, procurement professionals can drive the innovation lifecycle, supporting suppliers to not only serve buyers but to collaborate with them toward new horizons.

By collecting and collating supplier data, procurement leaders are creating new insights into markets via predictive analytics.  In this area, particularly, there is tremendous opportunity to change the game.

Managing supply chain risk

Supplier instability represents a rupture in the chain.  It can arrive suddenly, occasioned by worker unavailability, civic unrest or economic realities.  But with close working relationships with suppliers in place, procurement leaders are uniquely placed to manage the risk supplier instability represents.

All these qualities line up to create an entirely new perception of the procurement function and its role in business.  

Effective procurement professionals bring these qualities to the table, as trusted procurement advisors – a branded emblem of 21st Century procurement.

Procurement professionals are re-branding the sector to create new opportunities.  CenterPoint Group is leading the way. Contact us.

Stakeholder Engagement:  Unlocking a Procurement Consultant’s Value

Engagement is a popular theme these days.  Everywhere you look people are talking about it in terms of employees, consumers – you name it.  But this post specifically addresses stakeholder engagement: unlocking a procurement consultant’s value. And that’s precisely what engaging with internal client stakeholders does.  It allows procurement consultants to get up close and… Continue Reading

Do You Know the Difference Between Strategic Sourcing and Category Management?

Opportunity abounds in the brave new world of procurement.  Category Management is part of that. Rapidly evolving to the status of a sector game-changer, Category Management is setting the foundation for the ability of procurement leaders to strategically align with business objectives. As procurement transforms into a service that offers value well beyond cost-cutting initiatives,… Continue Reading

Building Win-Win Buyer/Supplier Relationships

Relationships can be complicated. As in personal relationships so is in procurement.  When things go sideways, someone always ends up on with the short end of the stick. But it doesn’t need to be that way. Building win-win buyer/supplier relationships is not a trick with mirrors.  It’s about applying the same respect and reciprocal impulse… Continue Reading

New Challenges for Procurement Leaders

Gone are the days when procurement was all about dollars and cents.  Contemporary procurement leaders are onboarding more strategic responsibilities, with cost savings now a driver of profitability. But that’s not what most of them signed on for.  Today, there are new challenges for procurement leaders.  The demand for supply chain transparency, accountability and sustainability… Continue Reading

Do You Receive Detailed Reporting of Your Spend?

You’re a big picture person.  You know the basics about your procurement budget, but you may not have a handle on the finer details. That can mean money’s flying out the window. You can’t be everywhere.  You can’t know whether Betty in Denver is procuring in a less than efficient way.  There’s no way to… Continue Reading

Don’t Have Time to Run an RFP?

So, you don’t have time to run an RFP.  Well, who does really? Requests for Proposals are time-consuming affairs (the average RFP eats between 350 and 500 hours) and once you’re done, who’s to say you’re going to net any benefit?   When you’ve got a short turnaround time to obtain proposals from vendors and… Continue Reading

What Are Some of Your Current Challenges in Purchasing?

We’ve all got our problems and procurement professionals are no exception.  As with every business sector, procurement is facing economic, social and technological change that’s coming fast and furious. It can be a little disconcerting how quickly things can change in a dynamic landscape like the one we’re in. So, what are some of your… Continue Reading

Are You Tired of Not Getting Top Level Customer Service from Your Suppliers?

Your company spends a lot of money with your suppliers, so when you call them with a problem, a question or a complaint, you expect to find someone on the other end of the phone with a solution, an answer or a response. But you don’t.  You leave messages.  You send emails. Nothing.  Sometimes you… Continue Reading

Are You Reviewing all Possible Spend Areas of Your Business?

What your business spends money on is a whole lot of different things.  When it comes to indirect spend, you may not be quite sure what’s going on under the hood. Are you reviewing all possible spend areas of your business?  It’s highly likely that you’re not, because it’s a big conversation with a lot… Continue Reading

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