Embedded finance: Provide your customers with the right financial product…
Last year has proven, that flexible working arrangements and the opportunity to work from home do not mean decrease in effectivity!
How to find the balance between maintaining good relations with the suppliers and minimising human interaction due to digitalisation and automation of procurement processes?
Early engagement that is via the normal relationship channels is essential as this no longer feels like a “separate” project-driven activity. In short, good quality upfront investment that is directed to enable the supplier to be in control of their own data, information, etc.
How do you think expectations for sourcing activities have changed due to customer demand and digitalisation?
In short, suppliers and end users and all points along the supply chain expect more frequent and timely dissemination of information, not just the logistics control tower. More moves towards managing by exception rather simply having a scheduled review to address a standard agenda. Greater expectation that suppliers “push” information to validate compliance to standards, quality, ESG, etc.
Where do you see the future of procurement processes?
Greater and clearer division between operational and strategic and automation of activities such as demand forecasting/planning, automated pricing schedule adjustments, automated notice prompts, etc.
What has changed for good in the last year?
We have proven that everything does not need to be F2F and we can be just if not more efficient WFH! Made working patterns more flexible for those that need it. Removed a cost to serve through travel & accommodation and shrunk global connectivity.
David LOSEBY, Former Group CPO (Director of Procurement) at Rolls Royce has over 30 years’ experience at senior executive/director level driving value and change through procurement and organisational transformation. David’s varied background enables him to draw on not only his various global experiences, sector diversity and responsibilities within many Public Bodies as well as FTSE 100 companies but also the experience gained in the Construction and Property sectors at the beginning of his career. He therefore has a real feel for the commercial and business drivers of the corporate customer and the private trader. He also understands what it takes to deliver sustainable bottom-line results in the optimum time frame. He is currently the Managing Director for Barkers Commercial Services and previously the Group CPO for Rolls Royce. David is currently studying a PhD at Norwich Business School (Social Sciences Faculty) in Behavioural Science & Applied Cognitive Psychology: Behavioural Procurement.