As companies face the weight of inflation and the potential for recession, executives are reevaluating their decentralized approaches to procurement management and decision making. Instead, many organizations are making the move back toward centralized procurement models to keep a sharp eye on the bottom line. The focus has shifted from viewing cost savings as a 'nice-to-have' to a necessity for operational continuity.

In this episode, based on a recent AOP Live session, Mu Wagh, Chief Operating Officer at Procure Analytics, and Matt Reddington, their Vice President of Operations, discuss how a strong corporate culture can help companies navigate challenging economic times as they transition to centralized control in procurement.

Mu and Matt provide valuable advice on how to strike a balance in the transition to centralized control without adding friction into the procurement process or doing harm to the organizational culture.

Strategies to increase compliance without disrupting procurement teams
Tracking savings and spend analysis as a measure of purchasing efficiency and procurement success
Establishing feedback mechanisms from different user groups to ensure procurement delivers what they need

Links:

615: Strengthening Your Corporate Culture to Survive Challenging Economic Times w/ Mu Wagh and Matt Reddington

Art of Procurement

615: Strengthening Your Corporate Culture to Survive Challenging Economic Times w/ Mu Wagh and Matt Reddington