Deloitte’s View: Achieving Procurement Leadership Through Better Talent Management

As we conclude this series featuring excerpts and our own observations from Deloitte’s recent paper, Procurement Talent Management: Exceptional Outcomes Require Exceptional People, we summarize what it takes to achieve procurement leadership. Deloitte wraps up its analysis by suggesting:

"The path to a high-performing procurement function exists, and it’s clearer than many people might think. Talent that is nurtured, mentored and invested in can self-perpetuate. Talented, knowledgeable individuals can enjoy rich careers in procurement while the business benefits from their contributions. And, procurement can assume a more meaningful role in overall organizational direction and strategy. It all starts when procurement becomes more scientific and process-led in the way it applies talent management to the CPOs of the future."

But the obvious question after reading this is: how? Deloitte offers a number of prescriptions in its paper for achieving procurement success (which we’ve covered throughout the past few weeks – see related posts, below) through better talent management, but does not have the space to expand on the ideas in the relatively short format of the paper that we’ve excerpted itself.

The ideas have left me wanting more. So I’ve asked the Deloitte team to flesh out this topic with additional commentary behind the analysis given that we have the space to expand on the ideas here. Look for a range of interviews and guest contributions on the subject of procurement talent from Deloitte (and others) in the coming weeks and months on Spend Matters.

As for now, I’ll leave you with one last thought on the topic: With the exception of organizations that decide to outsource parts of procurement entirely, the only sure path to better performance is through fostering a culture that prioritizes talent recruiting and development as arguably a number one priority overall (even above tactical priorities like “savings”).

Talent is the DNA of both effective and game changing procurement teams. And we should not forget the importance of emphasizing it from a priority perspective.

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