This past Wednesday, the
Procurious Big Ideas Summit took place in Chicago where professionals gathered
to discuss provocative topics surrounding the procurement space. Speakers gave
their insight into popular industry-wide talking points such as cybersecurity
and spend management. Justin Crump inspired us with his take on why analyzing
data is essential, “The best insight in the world is no good unless someone
acts on it” But even more excitingly, these experts brought some new and
important social themes to the table.
As a Gen Z-er, my research into procurement tends to focus on the ethics concerns of the space.
World issues such as energy conservation, environmental footprints, and
healthcare equity commonly come to mind. When it comes to supply chain
management, I know we have the power to make a difference so I was thrilled to
hear that seasoned procurement experts believe it too. Nearly every
presentation at the summit mentioned how procurement could impact the lives of
others.
As someone who keeps tabs
on corporate news, I’ve noticed an overload of headlines reporting major
corruption. It's unsettling to see so many businesses around the globe take a hands-off approach to policing their supply chains.
One of the first
presenters, Patrick McCarthy, really emphasized the importance of vetting
our suppliers. He drives home the point, “Are you screening your suppliers? And
their suppliers? And their suppliers?” Even with the best intentions, a company
can’t ensure that all of its operations are clear from crookedness without
looking into every third, fourth, and fifth-party supplier. You simply cannot
assume your stakeholders take CSR as seriously as you do.
Patrick McCarthy presenting "What's the Big Idea?" at the Procurious Big Ideas Summit. |
Keeping your head above
water is important, but this space has the power to enforce new ethical
standards. McCarthy asserted his belief that the procurement function can truly
serve the community while still elevating itself. He stressed to spectators
that, contrary to popular belief, doing good doesn’t have to cost more. In many
instances, doing good can save the company money. With an innovative
rearrangement of suppliers and sourcing, cost-reduction and benevolence can
work synchronously.
McCarthy also demonstrated how he’s seen procurement transform a community,
“One of the most exciting
things about CSR is that they can change the way communities live. Their sourcing from
small communities literally changed the lives of small villages, they were able
to build schools, build new infrastructure that changed people's lives.”
Source One Director, Diego De la Garza, described the experience as a “one-day event that
incorporates the content and quality of a big convention” Diego De La Garza
dedicated his presentation to discussing everything a well-equipped Procurement team is capable of.
Diego De la Garza of Source One about to present his impactful procurement stories. |
De La Garza shared two
powerful stories of procurement innovation. On one account, a company had
trouble strategically sourcing the materials they needed for their product. The
procurement function worked as a power tool to not only source the right
materials from one place but make the product more cost-effective and user-friendly.
On another account, he
discussed a medical tech miracle that a procurement team helped to make happen.
The invention involved inserting a microchip into a pill to help patients
regulate their prescription intake. Those were just two of many amazing ways
Diego had seen procurement demonstrate excellence.
As a young professional
navigating the procurement space, it was uplifting to hear these procurement
experts speak to the future of the field. Procurement is a department that oversees the entire supply chain and we must be ahead of the game when it comes to social
responsibility and sustainability. The thought leaders at the Procurious Big
Ideas Summit admirably sparked conversations about procurement’s function in
CSR.
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