Hunting & Farming Suppliers

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1 Hunting & Farming Suppliers Aligning Your Organization s Structure and Talent to Drive Value in Supplier Lifecycle

2 Introduction Those of you who have dealt with sales organizations will recognize that there are two kinds of salespeople: individuals who actively go after and get new deals, aka. the Hunters; and those who grow and nurture existing relationships, aka. the Farmers. Sales organizations that successfully understand the different skills and focus needed for these two roles have a tendency to perform better than those that don t especially if their deals are based on ongoing delivery, integration, and partnerships with clients. Hunters vs. Farmers in the World of Procurement Hunters possess notably different characteristics and skillsets than Farmers. They are good relationship builders, smooth operators who focus on initial deal dynamics, and strive to increase their competitive edge. Hunters are more individualistic by nature. Farmers, on the other hand, are more collaborative. They aim to maximize the pie and creatively find ways to keep client relationships healthy and growing. Farmers are good problem solvers and know how to navigate various political landscapes. Pg. 2 Hunters and Farmers Hunters get new deals. Farmers grow existing deals. VS. Now, you might ask, what does this have to do with procurement? Its relevance pertains to what procurement doesn t do enough of: apply enough rigor to hunt good suppliers and manage them effectively throughout their lifecycle. This whitepaper will explain why procurement organizations still fail at putting the right resources to hunt new deals and managing supplier relationships and adding value consistently and holistically throughout the enterprise. Using an analogy from a sales organization and applying some of its best practices, it will discuss constraints that prevent companies from building successful vendor management organizations. It will also look at this issue from a talent acquisition and management perspective rather than a process or methodology perspective.

3 Pg. 3 Understanding the Supplier Lifecycle Procurement organizations often fail to control and manage the entire lifecycle of a supplier. The following chart depicts the three phases of the supplier lifecycle and summarizes key attributes of each. Understanding Supplier Lifecycle Hunting Farming Source Contract Manage Focus Capability Cost/Value Risk Risk Performance Value Nature of Work Project Based Less Defined Process Driven Stakeholder Involved Supplier Based More Defined Template Driven Stakeholder Involved Supplier Based Most Defined Varies in Duration Stakeholder Driven Skills Sales Project Management Analytical Self Driven Business Acumen Communication Detail Oriented Process Oriented Efficient Relationship Management The focus, nature of the work, and required skills are different depending on which phase of the lifecycle the supplier is in. When organizations try to manage suppliers broadly throughout this lifecycle, they fail to understand the nuances of each phase and adopt the various types of talent needed to create value. Hunting for New Suppliers Before we discuss contracting or managing supplier relationships, let s first focus on getting the right suppliers in the door and establishing the right deal structure up front. In order to hunt good deals, an organization needs the following skills: 1) Stakeholder Management: Let s use an analogy to clarify this concept. Once you identify who you want to invite to the table, you can then hunt for what it is your guest likes. It doesn t make sense to serve steak to a vegetarian, just like it doesn t make sense to sell a solution to someone who doesn t want or need one. This is why building strong relationships with an organization and creating opportunities to hunt is important. Denali Group discusses the topic of managing stakeholder relationships in our whitepaper Procurement is from Pluto, Stakeholders are from Saturn. 2) Subject Matter Expertise for Hunters: Just because you know how to fish doesn t mean that you know how to hunt for quail. The techniques, tools, timing, interdependencies, and more all come into play when structuring a good deal. 3) Timely Market Intelligence & Insights: Having a thorough and timely understanding of the supply base, competitive dynamics, and changing market environment is critical to securing favorable deals with the right suppliers. After all, it would be good to know if the weather calls for high winds or rain before you go hunting or you might harvest sooner if a climate change is in order.

4 Pg. 4 4) Competitive Bidding Process Knowledge or Strong Negotiation Techniques: Most deals are either competitively bid or negotiated. A good hunter knows which techniques to use, when to use them, and how to develop a strategy to execute effectively. 5) A Highly Efficient Pool of Execution Resources: Execution is a critical function and needs a centralized, dedicated resource pool that supports various sourcing initiatives that stem from stakeholder management and category management activities. Getting the right deal and the right supplier is a critical step in the procurement value chain. However, it gets you only halfway there. Value is created when procurement sources and negotiates (hunts) deals. Value can be documented when it is contracted and realized when it is managed. Often the full potential of savings or value that we as procurement professionals claim or report isn t realized especially when we don t have a systematic way to manage those contracts throughout their lifecycle. The Inherent Value of Effective Vendor Management Most CPOs realize that you are leaving significant value on the table by not managing strategic suppliers. The challenge is to identify exactly how much value is lost. And, once identified, to then determine how to quantify and report this value to key executives. Before delving deeper into why and how companies should manage their suppliers, let s further identify what makes up this lost value. The year-over-year operational improvements that are negotiated and contracted are implemented and reflected as bottom-line savings. If unmanaged, billing errors due to lack of focus and knowledge in complex deal pricing could make up a significant chunk. Not enough pressure is put on suppliers to develop and implement innovative ideas that create value, or this is ignored altogether. Disintegrating supplier-customer capabilities that result in redundancies or payment for services or products you already have. (For example, your organization has an internal communication platform to video talk or IM with stakeholders. However, your supplier still uses other means of communication and bills you for this service.) During renewal or contract extension, the supplier gets a better hand in controlling or claiming the bigger portion of the value pie and you aren t able to produce ideas to make the pie bigger or split it more fairly. Tackling Yet Another Execution Challenge Effective and holistic vendor management is another execution challenge. Denali Group s recent whitepaper Unleashing Procurement s Value with a Service- Oriented, On-Demand Organization offers insight on execution problems and constraints with sourcing that relates to the following discussion. Let s take a step back and look at the reasons (constraints) why companies don t always do well at managing strategic suppliers. 1) Lack of Dedicated Resources to Support the Process: Procurement organizations attempt to address the supplier management role with the same set of resources, expecting the sourcing manager or the category manager to manage suppliers as well as to hunt for and contract with them. This approach is flawed. It undermines the amount of work needed to effectively and regularly manage supplier relationships; thus, it doesn t get done. 2) No Proper Governance Defined Among the Involved Parties: Procurement relies heavily on stakeholders to manage their suppliers. While it is true that they are key players in this process, they often don t have the time or the focus to dedicate to it. They need both the right support and the governance to execute these management responsibilities. 3) No Enabling Technology (though not a requirement): The sourcing process has transformed over the years with the introduction of esourcing technology and the development of more efficient methods to document and distribute RFPs, manage suppliers, and conduct negotiations (reverse auctions). Similarly, available supplier management technology brings certain capabilities to organizations that allow for more effective and efficient ways of managing suppliers. 4) Quality of Data: Sourcing a project requires quality data, and the same is true with managing suppliers. In fact, access to data - such as performance and consumption statistics - may be even more critical for the effective management of suppliers. This data may not be readily available, so it is essential to establish a process to collect and share data prior to each management cycle.

5 5) Skillset Needed to Farm Supplier Relationships: While the more sales-oriented, short-term-focused profile is effective in the hunting stage, for vendor management an organization needs resources with both relationship management skills and a longer term focus on value creation. Just as sales organizations separate their hunting and farming departments, CPOs would be wise to assign resources with the appropriate skillsets to manage ongoing supplier relationships. 6) Management Visibility and Enforcement for Consistent Management of External Resources: Due to a lack of clarity regarding the value associated with supplier management more specifically, the lack of attention procurement receives from executives there isn t enough pressure put on the organization to manage suppliers. This results in inconsistent management of external resources, with suppliers experiencing little management visibility or enforcement of expectations from procurement organizations. However, it should be noted that the attention executives give to procurement has improved in the last few years. The hypothesis is the same one we use when we diagnose sourcing bottlenecks. There seems to be an execution problem. The following graphic illustrates flaws in the current operating model, shows organizations adapting to manage suppliers, and proposes a newer, more efficient operating model. Pg. 5 The New Operating Model for Farming Suppliers Execution is the Missing Link in the Farming Department Today Proposed Procurement Framework Strategize & Strategy Subject Matter Expertise Budget Holder Budget Holder Procurement Decision Making Governance Strategize Shared Services Execution Shared Services Execution is the engine that drives sustainable Supplier Management Supplier management needs to centralize tactical support in order to effectively turn the cogs one supplier at a time similar to how procurement centralizes tactical work for purchase requisition conversion by housing its sourcing and contracting processes in shared service centers. Setting up supplier management projects, administering and managing supplier performance surveys, collecting and organizing supplier risk data, and scheduling and facilitating management cycles with suppliers and stakeholders are tactical activities that can be addressed effectively through a shared service model.

6 Conclusion To create shareholder value, companies need human resources, which are internal to the organization, and suppliers, which are external. It is too costly for companies not to manage their supplier resources effectively. They spend significant time and money managing internal resources through human resource departments and management resources. Almost all organizations establish review cycles, career paths, and financial incentives to maximize employee performance. Unfortunately, the same is typically not true for managing external suppliers. Chief Procurement Officers need to communicate that neglecting to effectively manage company supplier resources is costly. And they need to attract the appropriate attention from executives to convince them to invest in supplier management capability over the long term. Pg. 6 About Denali Group Denali Group collaborates with Supply Chain and Procurement professionals to deliver more value, faster and more efficiently. Denali Group s innovative solutions help Global 1000 companies transform organizational capabilities, improve execution efficiencies, increase spend under management, and accelerate time to savings. With an impressive growth rate, for the past two years Denali Group has been named to the Inc an exclusive group of America s fastest growing companies. Founded in 1996, Denali Group services include: Denali Consulting - Procurement transformation and Supply Chain optimization Denali Sourcing Services - Managed sourcing execution and Procurement outsourcing Denali Intelligence - Subscription and custom supply market intelligence Denali Recruiting & Staffing - Supply Chain recruiting and staffing For more information on Denali Group services, visit or call

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