As the world’s fastest-growing procurement and supply chain event, Procurement & Supply Chain LIVE 2023 was a disruptive learning and networking event that showcased some of the industry’s top speakers across innovation, thought leadership and strategy.
Procurement and Supply Chain Transformation - What is your end goal?
Speaking at Procurement & Supply Chain LIVE 2023, Vidya Malkani, Procurement and Supply Chain Director at the American University of Sharjah deep-dived into transformation strategies.
How to approach supply chan transformation
When it comes to implementing an effective supply chain transformation strategy, Malkani emphasises the challenges of understanding the end goal. She notes that prioritisation is crucial, and companies should focus on purpose, organisational goals, timelines, and positioning of procurement.
“My personal approach has always been you need to prioritise. You cannot achieve everything in one goal," she says.
Challenges and solutions
When it comes to the challenge of buy-in and support for a transformation strategy, Malkani highlights the importance of actively listening to stakeholders and their pain points to be able to address the correct problem.
She stresses that communication with stakeholders including the procurement team is vital for success, Malkani shares an example of of addressing resistance by understanding professors' preferences for traditional methods and gradually introducing technology.
"You have to very actively listen and engage with the stakeholders to understand what exactly is wrong. What is it that needs to be fixed or what are what is the problem statement?"
Other key discussion points
Elsewhere in her fireside discussion, Malkani warns of the importance of defining the end goal before selecting technology partners, as well as being realistic about adoption rates and defining success metrics.
She also touches on continuous learning and improvements, as well as future trends and her proudest achievements.
To watch any of our other speakers from Procurement & Supply Chain LIVE 2023, click here.
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