Mega M&As
I’ve been on transition teams for two mega-acquisitions, the Kraft/Heinz acquisition in 2015 and the Allergan/Abbvie in deal in 2020 and know first hand the importance of solid procurement processes to drive their success. The Heinz transaction created the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world with an unparalleled portfolio of iconic brands. Similarly, the $63B Abbvie transaction created the third largest pharmaceutical company in the world. These experiences have been invaluable at shaping synergistic opportunities to be unlocked by the procurement function post-merger.
Agility
We need to think of procurement as an agile function when too often we are seen as an archaic gatekeeper. We need to respond to the businesses needs and be able to transform our way of working to accommodate a world that seems to be changing at ever greater speeds.
It’s About People
Ultimately, we are people working together to help grow our organizations and better our teams. Remembering that the same is true of our internal stakeholders is key. Understanding our external relationships in this same light helps us find exciting opportunities.
Managing Limited Resources
As procurement professionals we are all about savings and being good stewards of our business’ funds but this is not the only resource we help manage. We guide talent, allocate time, and inform policies all aimed at driving the best value for our business.