The ‘Brandyberry Trilogy’: Productivity, Efficiency, and Innovation
Over the last few weeks, Gregg Brandyberry, former CPO of GlaxoSmithKline, shared his point of view on current and future state of procurement through a 3-part series of posts on Procurious. Gregg is a recognized pioneer in procurement and sourcing technology with 40 years’ experience in the automotive, textile, manufactured goods, electronics, and healthcare industries. We were particularly excited to see this series of posts run because Gregg also happens to be a member of the tealbook Advisory Board.
Given that his career in procurement spans four decades (so far…) you would think that he had watched our technology go from the invention of the wheel to flying cars. On the contrary, it hasn’t changed as much as you might expect. And yet, as Gregg writes in the final post, procurement isn’t done innovating yet – perhaps the best is yet to come.
Although most procurement teams today use a shared, centralized database to manage supplier information, these solutions usually rely on internal team members to manually enter and search for supplier knowledge. The true transformative value of any technology is its scalability. tealbook advances procurement’s scale by making it possible to accelerate the discovery process through instant supplier recommendations, improving the match between business needs and prospective suppliers. With better suppliers available sooner, procurement can achieve a step change in productivity and move the needle on the all-important metric of spend under management. (READ MORE)
We talk a lot about efficiency in procurement, but we take very few steps to actually improve it. Real efficiency goes beyond just doing more with less – it is also about timing. Sometimes, doing the same task at a different time increases your effort’s impact potential. Case in point: risk management – addressing risk should be an active part of the sourcing process, not just something to be managed afterwards. While risk information is readily available, sometimes what procurement really needs to know what their peers think of a supplier. That’s why tealbook combines internal supplier knowledge, data from Dun & Bradstreet, and aggregate intelligence from industry peers into each supplier profile. Adding a peer view to the supplier discovery process not only makes it more robust, it significantly increases the trust factor – and actionability – of everything procurement learns. (READ MORE)
When we aren’t clear on the true mission of procurement – maximizing the ROI of every dollar spent – it’s not a fun place to work. But hope is not lost. Procurement isn’t done innovating. Everything we do (or have done) should be subject to reimagining. tealbook has actively taken up this challenge in supplier discovery. All of the value potential uncovered in downstream processes like sourcing, optimization, and negotiation, is capped by how well procurement has handled supplier discovery – bringing in and evaluating a broad range of suppliers. And while it might seem like more work to increase the pool of prospective suppliers, it’s actually procurement’s best chance to affect results by more than a shade or two at a time. Innovators don’t get up in the morning for incremental improvements – they think big and push hard for step changes, an approach procurement should embrace. (READ MORE)
Speaking of innovators and big thinkers, many thanks to Gregg for sharing his experiences and vision on technology, discovery, and intelligence creation!