Larry Phelan , EY Global CPO , shares his philosophy on the future of procurement and why value goes far beyond doing deals and cutting overheads
EY
Larry Phelan , EY Global CPO , shares his philosophy on the future of procurement and why value goes far beyond doing deals and cutting overheads
Larry Phelan , EY Global CPO
Larry Phelan is on a decadeslong journey , the destination of which has just appeared upon the horizon . The EY Global Chief Procurement Officer moved into this position in the professional services giant in July 2009 , hot on the heels of the 2008 financial crash , and after spending 10 years in the EY Mergers and Acquisitions service line . In the intervening 12 years , he has reshaped procurement ’ s value proposition and led a diverse group of professionals across the globe . He has also dedicated his time to the pursuit of one big question : how to elevate procurement as a strategic advisor to the board .
“ I think it ' s really important that procurement is seen as more than just doing deals and saving money ,” he says . “ It ' s about the transformation that companies are going through and getting the board to feel comfortable with procurement ' s unique role . That is to me a big bet .”
It is a quandary that has shaped his approach to leadership and , in recent times , become a wider talking point in procurement circles . Phelan admits he is not alone in working toward this goal , however he does believe EY is well-placed to achieve it . In many businesses , procurement is a bureaucratic function that sits somewhere in the middle of the organisational structure , reporting to a department that reports to a department , and so on . It is a difficult
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