Like a racecar driver, major transformation requires speed, accurate decision-making, great communication and a razor-like focus on what lies ahead and how to plan for it. Bunge recently launched a major transformation to great success, in large part because of those things. Bunge is $60 Billion Global Food company with a five-year-old Procurement function. In 2011, Bunge launched a major transformation drive that has generated an estimated $500 Million in cumulative savings. Our success, operating in a decentralized environment is largely due to: a razor-like focus on key priorities (setting up and executing our delivery model, generating value, driving analytics, installing best in class process and developing talent); proper balance between ‘speed’ vs. ‘right’; alignment with key regional/local companies on supporting initiatives; and strong communication – everyone needs know their role when the car rolls into the pit.
Topics in this session included:
- The importance of focusing on few things but executing them well
- That the appetite for change will vary by regions – need to be aware of the right pace vs. what others may be accomplishing externally
- The criticality of buy-in from stakeholders
- That solid communication is a ‘must’
Categories: 2014 Fall - Denver, Summit Presentations
SRC Type: Change Management, Outsourcing, Procurement Outsourcing / Transformation, Talent Management