We were interested in this recent article from Supply Management, which asked the question – ‘should procurement still set savings targets’?
This comes as supply disruptions and the raising of procurement’s profile over the past two years has led to difficult questions around the meaning of value.
Brad Mills, Manager here at Talent Drive, adds;
I found this an interesting read is because it ties in with conversations I have had recently with a number of procurement leaders about how they have rewarded their teams with end of years bonuses. Given the challenges across supply chains over the past 18 months, such as Brexit, Covid and rapidly rising costs across the board.
The conversations have been about how procurement leadership teams have been focusing on what has been within the procurement teams’ control such as supply chain transparency, security, sustainability and risk. Instead of just focusing on performance against savings targets. This has been to reward the continuous hard work from procurement departments and not penalise for not hitting savings targets.
I would be interested to get the thoughts of our procurement network on how strict they have been on their teams with savings targets and moving forward will the focus be solely on savings targets or will the focus be shifted to something else?
Read the full article here.
