What keeps C-level executives up at night are the issues that their internal staff and outside consultants cannot seem to solve. These are bigger issues than cost savings on sourcing events and internal staff efficiencies.
Most CFPs and CPOs are aware of the solutions that exist in the marketplace for typical sourcing challenges. They are also adept at evaluating those solutions.
Listening to consultants who are enamored with the bells and whistles they have to sell can be frustrating. The focus they use centers on pitching their system or service and all the fantastic results that will be realized once it is implemented.
Each time I have the opportunity to demonstrate the great features of FlexRFP™ and how they match up with the identified issues, it is very satisfying.
However, there is a more important question that I ask. What sourcing issue has your company not been able to solve using internal and external resources?
Demonstrating that we have the experience to help the company solve this issue is the easiest way to be retained.
I also realize that we won’t always have the ideal solution or experience to provide a workable result. In those situations, I prefer to part on good terms rather than over sell and under deliver.
What follows is a sample of a handful of the key procurement issues that we have been presented with that frustrate C-level executives:
- Coordination of the delivery date of a group of retail items that will be offered as a package or as part of a seasonal marketing promotion
- Coordination of the delivery date for multiple items needed for final assembly of one final
- Reporting that demonstrates every contract has been thoroughly evaluated and renegotiated well in advance of the automatic renewal date
- Monthly reporting on the total spend on each type of service by profit center, division and product line with insightful analysis of cost savings opportunities and how they will be realized
- Monthly reporting on the total spend for every item, SKU and commodity for the entire company with corresponding analysis of cost savings opportunities and how they will be realized
- Monthly reporting of the total spend by supplier by item, SKU or commodity matched up with the contracted price per RFP
How well would you sleep if you could solve any or all of these issues?
Action Step: What would I do next if I were a CFO or CPO?
I would start by asking the question I opened with:
What are the biggest sourcing issues that we have not been able to solve with internal and external help?
EC Sourcing has the tools that can make your strategic sourcing efforts much more successful. I won’t guarantee that we have the ideal solution for every unsolved issue. What we will be able to do is quickly evaluate your situation and let you know if it makes sense to discuss the issue in depth.
You Won’t Drift to Success©
Think about it.
Until Next Time, I Wish You Great Success in Your Business and in Your Life