Spend Management's Killer App: Word of Mouth

At MFG.com's Fusion event last week, I had the chance to talk to a jovial and experienced fellow who ran sourcing for a fast growing small / middle market manufacturer. He came from Emerson and Bombardier and previously, had experience working with FreeMarkets back in the day. As I look at the middle market, the good news is that smart organizations -- often those backed by private equity -- are upgrading their sourcing and supply chain talent by hiring senior talent like the man I spoke with. But the real killer app for bringing better Spend Management practices into the middle market and beyond is not just talent or technology -- it is word of mouth marketing. This gentleman remarked to us that he planned to tell the partners at the private equity firm who had invested in his company about what he learned at the event -- so they could introduce their other portfolio companies to better sourcing and procurement practices. So next time you have the opportunity to be an evangelist for improving procurement and supply chain practices, do so. Tell your investors, your managers, your stakeholders about what's possible. Not just what has been. Our jobs should be as much about inspiring others as implementing results (but we should remember that actions speak the loudest of all).

Jason Busch

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