330: Applying the Flywheel Effect to Procurement (Part 2)

<p><span style="font-weight: 400;">In</span> <a href= "https://artofprocurement.com/episode329/"><span style= "font-weight: 400;">last week’s podcast</span></a><span style= "font-weight: 400;">, Host Philip Ideson described the concept of the flywheel, a consistent pattern of small but deliberate actions designed to build momentum and deliver business results described in the book</span> <em><span style="font-weight: 400;">Good to Great</span></em> <span style="font-weight: 400;">by</span> <span style="font-weight: 400;">author Jim Collins. </span></p> <p><span style="font-weight: 400;">This week, we apply that idea to procurement directly to ensure our strategies and tactics become (and remain) aligned with the goals and objectives of the enterprise as a whole.</span></p> <p><span style="font-weight: 400;">This focus has to permeate every effort we are involved in and the benefit can drive competitive advantage through cost optimization, risk mitigation, revenue growth, regulatory compliance, or operational agility. </span></p> <p><span style="font-weight: 400;">Listen to Part 2 of this series on the flywheel to learn:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">How procurement can apply the flywheel to reposition procurement at the organizational level </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">How we can harness the flywheel principles to help build more adaptable project management processes for efforts such as category management and strategic sourcing</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">How it is possible to turn seemingly tactical efforts into full strategic alignment with high-level business decision makers</span></li> </ul>