At Sourcing Interest Group’s Spring Summit, Welsh, Carson, Anderson & Stowe’s (WCAS) Jeff Gallant gave a fact-packed, fast-paced hour-long introduction to the world of private equity and procurement in a talk titled Procurement as critical resource: creating value through private equity portfolio management.
I came away from the presentation with a strong appreciation for the opportunities of a relatively new position that is emerging for former CPOs and procurement leaders: serving as operating partners within the private equity world. However, the lessons that Jeff shared are not just relevant to those transitioning into the world of leveraged buyouts – they are applicable to all of us that serve as service providers to our businesses.
In this series, I’ll share insights from Jeff’s presentation and the audience discussion at SIG and also provide additional summary commentary as our reporting and analysis concludes. The context and framing of private equity is as important in context as the role of operating partners targeting purchasing and supply chain improvement in portfolio companies today – so let’s start there.
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