Procurement transformation is a call to innovate and adopt more value-added activities. Often such efforts are derailed by various challenges and lack the necessary devotion to change management that transformation requires. Challenges can include lack of executive sponsorship, perception of capabilities, resource constraints, lack of skills and limited traction with business stakeholders. With the objective of minimizing resistance and gaining buy-in across the organization, Bloomberg kicked off a multi-phased, multi-workstream project that included a complete organization redesign, process and technology changes, and category management and sourcing components. We will share lessons learned on how to drive change from the executive level to the business level while leveraging third-party service providers, internal resources and skill building, as well as how to self-fund the project.

Contributors: Bloomberg
Categories: 2014 Oct 29 - New York City, Symposium
SRC Type: Change Management, Organizational Design, Sourcing, Sourcing Management, Talent Management, Third Party Management