The recent Procurement Leaders’ Breakfast Meeting organized by Harley Reed at Kempinski brought together top procurement and supply chain leaders from diverse sectors, including humanitarian aid, financial services, manufacturing, health, transport, and media. The event, themed “Driving Value Through Change,” highlighted the evolving landscape of procurement and supply chain management, showcasing insightful discussions on driving value through strategic innovation.
Harley Reed Group CEO William Tagoe delivered a thought-provoking keynote address focusing on three critical elements for procurement leaders: understanding the changing environment, defining value, and utilizing the right tools for change. Tagoe emphasized the importance of recognizing macro and micro pressures influencing the procurement landscape, such as political instability, climate change, resource depletion, and population growth. He stressed that understanding these factors is crucial for developing adaptive procurement strategies.
Value in procurement extends beyond cost savings. Tagoe discussed procurement’s broader role in adding worth to an organization, addressing challenges like accurate spending data, compliance issues, supply chain disruptions, and ESG (Environmental, Social, and Governance) considerations. He posed critical questions about key stakeholders’ definitions of value and the alignment of procurement processes with strategic objectives. Procurement should be seen as a strategic function contributing to an organization’s success, not just a cost-cutting department.
Creating value in procurement requires a well-documented strategy aligned with corporate goals. Tagoe pointed out the need for integrated procurement strategies that reflect the company’s objectives and anticipate future needs by understanding stakeholders’ strategies and goals. Engaging with stakeholders is key to defining and creating value, ensuring procurement strategies align with the broader business strategy and helping identify potential cost savings and innovation areas.
William Tagoe highlighted the importance of identifying and eliminating waste in procurement processes, such as supply chain delays or purchasing goods at inappropriate times. He emphasized that procurement leaders need the right toolkit, which includes strategy, people, and technology. Tagoe further outlined a functional capability model assessing the influence of the procurement function over strategic direction and key business decisions, leveraging technology and spending data to enhance procurement processes.
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The event concluded with William Tagoe outlining the role of the new procurement leader, emphasizing that anticipation and strategic planning are key to success in today’s dynamic environment. Procurement leaders must be proactive, understand the broader business strategy, and anticipate future needs to create value effectively.
Moving Forward
The meeting concluded with a call for procurement professionals to embrace change and innovation. By driving value through strategic initiatives and collaboration, the procurement and supply chain community can overcome challenges and achieve sustainable growth. Stay tuned for more events and discussions shaping the future of procurement and supply chain management. Connect with us on LinkedIn for updates on upcoming events and insights from industry leaders.
About Harley Reed
Harley Reed is a Pan-African company offering consulting services and professional training in knowledge and procurement for companies. Our mission is to help organizations navigate the complexities of procurement and supply chain management through expert consultancy and bespoke training programs.
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About the Procurement Leaders’ Breakfast Meeting
The Procurement Leaders’ Breakfast Meeting is a prestigious event series organized by Harley Reed, bringing together procurement and supply chain leaders to share insights, discuss challenges, and exchange experiences. Hosted in the UK, Kenya, Ivory Coast, and now Ghana, these events foster a collaborative environment for driving strategic innovation and value in procurement.
