Welcome back to another installment of Whitepaper Wednesday here on the Purchasing Certification Blog. Today, I’ll be reviewing a whitepaper entitled “Procurement’s Holy Grail? Transforming the Procurement of Marketing Goods and Services from Delinquency to Model Citizen” from Marketing Supply Chain. Despite the verbose title, this whitepaper is actually short and sweet, taking up only three pages.
I’ve long observed that England is ahead of other areas of the world in terms of recognizing the value of synergy between marketing departments and procurement departments. This whitepaper strengthens this belief.
The whitepaper acknowledges that “as far as the CPO is concerned, marketing still lags behind other major areas of spend. Transforming the role of procurement in marketing from a tactical
service function to taking a strategic leadership role is still a rarity.”
So, to find a solution to this problem, Marketing Supply Chain went out and did some benchmarking with some leading firms. From this research, they have identified ways for Procurement to understand how to make itself an appealing and valuable partner rather than a bureaucratic necessity.
The whitepaper says “Of particular value to their marketing colleagues are the skills Procurement bring to demand planning through better process and useful systems support. This key competency recognises the particular issues and approaches required to accurately forecast future spend needs and upcoming marketing ‘volumes,’ an area where creatively-led marketers have always struggled.”
It later continues “Procurement can help marketers manage their suppliers…this ensures that the supply base is secure and fail-safe and also means that marketers understand the need to be systematically aware of new suppliers and services, rather than relying on personal contacts and knee-jerk response when situations change unexpectedly.”
The whitepaper closes with a section entitled “Added Value Purchasing” that shares additional tips for how Procurement can better engage with Marketing.
I suspect that, someday, the rest of the world will catch up with England in their interest in improving marketing procurement. So, even if you’re not involved with marketing procurement today, you may be in the future. Reading whitepapers like this one will help you be prepared for the procurement approach of tomorrow.
If you’d like to get your own copy of the full whitepaper, you can download this whitepaper from Marketing Supply Chain’s site (no registration required). You’ll find it under “Transforming Marketing Procurement Whitepaper.”
To Your Career,
Charles Dominick, SPSM
President & Chief Procurement Officer
Next Level Purchasing, Inc.
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