EY
It all folds into Phelan ’ s brand value philosophy , the key to the overarching goal of elevating procurement beyond black and red ink .
“ I ' m not saying that procurement should have a seat on the board . What I ' m saying is the content of what procurement brings to the table , for me personally , needs to be packaged differently so that the board fully understands the risks of something not happening , to the value that ' s being sacrificed ,” he says .
Driving procurement forward as a business — Phelan considers EY his foremost client — will be key to this elevation . He adds : “ To drive this procurement as a business , to get that board-level visibility , it has to be about value return . If procurement costs you a dollar , the reporting needs to show that you get US $ 5 in value back . It ' s the transparency through the reporting that gets that in front of people , to showcase those examples .”
Procurement is at the crossroads of major change . The COVID-19 pandemic redefined the importance of an organisation ’ s sourcing professionals , just as geopolitical turmoil , natural disasters , and terrorist attacks have in the past — and will continue to do in the years ahead . But Phelan senses the road is levelling out .
66 September 2021