Procurement Executive Round Table (PERT) Symposium October 3, 2017
Chicago, IL (PRWEB) October 18, 2017 -- One of the most anticipated workshops of PERT was held on 10/3/17 at the Morton Arboretum: How to Maximize Value through Governance & Relationships - Internal (Business Partners) and External (Suppliers). This was the 6th meeting of PERT - a relaunch of the highly successful Next Practices Xchange – “NPX”. The group continues to grow and the very positive feedback confirms that these workshops are delivering consistently high value for the senior executives. The Arboretum in its early fall glory was the perfect backdrop for our discussion groups which came up with some great ideas on how to improve governance and Relationships to deliver higher and higher Value. “The best investment of membership fees and time for my own personal growth,” remarked a member. Results of the Next Practices benchmarking survey prior to the meeting helped set the stage for the discussion. Dalip Raheja, President and CEO and Anne Kohler, EVP and COO of The Mpower Group facilitated the session leading to the following conclusions:
Governance:
• A few organizations have a formal governance structure and process
• Better governance will lead to better and more effective decisions
• Governance is also a powerful utility for the highest level of engagement from stakeholders
• While there are some implicit governance processes in place, they are not proving effective because they are implicit
• There was a lot of energy behind the concept of a principles based governance strategy shared by The Mpower Group
• Better governance ABSOLUTELY will add to the speed and velocity of every procurement/supply organization
Relationship Optimization (Internal and External)
• Quick acknowledgement that relationships have significant impact on value realization
• Internal relationships drive higher levels of collaboration which is absolute necessity for higher value
• External relationships(suppliers) have significant monetary value associated with them – being a “Customer of Choice” impacts the bottom line
• Only Relationship value increases over time – yet we pay least attention to
• Our processes are geared towards contract – the pre-nuptial and not the relationship – the marriage
• Our metrices don’t drive collaboration(internal/external)
• We don’t have the right competencies to drive better relationships
• Supplier Relationship Management should be replaced by Supplier Relationship Optimization
The benchmarking survey revealed a large gap between where most organizations are and where they need to be and the break out groups had a very lively exchange of ideas and practices that were shared amongst the participants. In addition to the ample networking opportunities including a mini-tour and the happy hour, every single participant was highly appreciative of the value they received – a very hard objective to achieve for any event like this.
About PERT
Procurement/Supply Executive Round Table (PERT), is a collaboration between The Mpower Group, Corporate United and ISM-Chicago. PERT is a “members-only” peer -to-peer organization comprised of senior executives from Fortune 1,000 organizations. The group meets quarterly to share ideas in a forum setting, provide advanced solutions and network. Each member brings expertise and varied talents to the group which allows all members to benefit from participation. PERT addresses major Global Sourcing and Supply Chain challenges such as:
> Building World-Class Sourcing and Supply Chain Organizations
> Relationship Management and Governance
> The Difference between Strategic Sourcing and Category Management
> Integration of Technology into Supply Chain
> Competency Based Talent Management
> Managing Outsourcing Arrangements
> Emerging of the Chief Procurement / Supply Chain Officer
About The Mpower Group
The Mpower Group (TMG) is a global management consulting firm. We work with Fortune 500 companies to unleash the potential in their Strategic Sourcing, Procurement and Supply Chain organizations through Strategic Talent Management, Accelerating Transformations, and Maximizing Value from large or complex transactions. TMG is in the business of Mpowering our clients to accelerate exceptional business results by unleashing the full potential of their organizations. Our expertise ranges from developing strategies and executing large, global business transformations across entire organizations to assistance with specific projects or individual transactions.
Rick Sandoval, The Mpower Group, http://thempowergroup.com/, +1 (630) 268-8963, [email protected]
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