Art of Procurement5 Aug 2019

264: Where Did the Money Go? Bridging the Procurement & Finance Gap w/ Dana Small

The commonly-cited disconnect between procurement and finance all comes down to one central question: where did the money go? As hard as procurement works to negotiate and track different types of savings, they always seem to evaporate or be reallocated for other projects. In the best cases, this gets the enterprise more value for their dollar, but in the worst cases can lead to reduced credibility for procurement – especially with finance.

I'm joined today by Dana Small, Global Category Manager at BioMarin and author of the Ms. Category Management blog. It is rare to find a procurement professional with a background in finance, and rarer still to find a procurement practitioner so willing to share their insight and experiences that they start a blog. In Dana we find both, and that's a real win for the procurement community.

While working in Financial Planning & Analysis (FP&A), Dana realized that by the time an efficiency opportunity is identified by finance, it is usually too late to act upon it. So she decided to move 'up' in the process, and pursued a role in strategic sourcing.

At the encouragement of a colleague, she began sharing her experiences via a blog in early 2019. Doing so has not only bolstered her professional reputation, it has also changed how she reflects back on her "day job".

In this podcast, Dana talks about the importance of reflection and perspective in all procurement work, whether it is tracking savings, working with suppliers or engaging with the community at large.

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Episoder(930)

Ep 01: The Agentic Procurement Diaries: Why This Is a Once-in-a-Few-Centuries Revolution

Dear Diary… "I believe we are in the midst of a revolution — and I think in a revolution, we as a vendor also want to invest a lot in educating the community on what's really changing and how it's cha...

16 Sep 34min

883: The CPO Agenda: Scaling AI Beyond the Pilot W/ Darshan Deshmukh

"It's all about building that momentum, creating the value, testing the hypothesis, and then continuing to challenge us to take it to that next level." Darshan Deshmukh, President at ProcureAbility AI...

14 Sep 49min

EP 016: Startup of the Week: FlockScore W/ Matthew Spencer

"The earlier you can catch risk, the cheaper it is to solve." - Matthew Spencer, Founder of FlockScore Procurement teams have access to plenty of information when evaluating a new supplier, from certi...

9 Sep 26min

882: Reengineering Procurement for Greater Impact W/ Polly DeSouza

"If you want a seat at the table, you've got to pull up the chair." - Polly DeSouza, APAC Transformation Leader Procurement teams have spent years talking about the need to move away from tactical and...

7 Sep 35min

EP 015: Provider of the Week: Tradeverifyd

"It's more the translation of visibility. It's not so much visibility. Visibility is there, but it's what do you do with that?" - Mike Prorock, CEO, Tradeverifyd Supply chain risk has become both more...

2 Sep 30min

881: Owning Transformation: How to Successfully Lead Procurement Through Change W/ Gretchen Vance

"Don't ask AI to do something that you don't know how to do yourself." - Gretchen Vance, Vice President Procurement at Forest Lawn Parks and Mortuaries Procurement transformation often comes down to a...

31 Aug 35min

EP 014: Provider of the Week: Sievo W/ Sammeli Sammalkorpi

"The expectation level of procurement is rising. Today's stuff that was not possible a year ago, that felt like science fiction three years ago, is something that we can create for our customers today...

26 Aug 24min

880: The State of AI in Procurement: Who's Getting the ROI? W/ Nick Heinzmann

"There's an absolute risk of procurement's role and scope being diminished by AI, unless we embrace new ways of working." - Nick Heinzmann, Head of Research, Zip According to new research from Zip, on...

24 Aug 33min