Lesson #10: Make Your Invisible Hand Visible
Key to any procurement journey is the demonstrated ability not only to implement successfully, but also to storyboard that success, celebrate it, self-fund your projects, and finally, promote success to build the procurement brand and support the broader company brand. P&G is no stranger to this, having won the now-defunct Purchasing Magazine’s Medal of Excellence in 2008 and remaining a benchmark company that many others look up to.
Of course, some external communication and validation is crucial for the following:
- Attracting top talent
- Executing on corporate programs (e.g., working capital improvement)
- Protecting the brand (e.g., supply risk)
- Improving the brand (e.g., sustainability efforts)
Such communications can also open up the firm to increased scrutiny in a 24/7 multimedia world. I applaud P&G’s CPO Rick Hughes and his team for being transparent not only with supplier communications, but also with other areas such as their supply chain sustainability scorecard.
It is in this spirit that I wrote these posts. I wanted to lend a helping hand to procurement organizations to learn from P&G and others. I hope you found it useful. If you have any questions or comments regarding this series, please don’t hesitate to contact us.
If you’d like to read the entire paper in one please, please see: P&G: A Case Study of Supply Management’s “Non-Invisible Hand” in 10 Easy Lessons. The paper is free to download in the Spend Matters Research Library.