In April and May, Ardent Partners hosted The CPO Rising 2K20 Virtual Series – The Resiliency Imperative as a way to bring together our global community of procurement, finance, and supply management professionals and collectively tackle the big issues we were all facing and continue to face as a result of the coronavirus pandemic. More than 2,300 people participated in the 20 virtual sessions including our livestream summit. We also had 27 experts share their ideas and insights. Once the dust settled on the series, Andrew went back to interview many of these leaders so we could learn a little bit more about them and their companies. We’re also working on a plan to replay many of the sessions, so stay tuned.
Phil Broughton is the Head of Business Programs (Americas) at the Chartered Institute of Procurement and Supply (CIPS). His main role has been to ensure that CIPS provides its corporate and public sector customers with products and services that help them develop and improve their procurement and supply team’s capability and performance. Prior to joining CIPS, Phil had over 20 years’ experience in international publishing and media. Andrew connected with Phil last week. Below is a transcript of their discussion (edited for clarity).
Andrew Bartolini: Phil, tell our readers at CPO Rising a bit about yourself, your background, and your company?
The Chartered Institute of Procurement & Supply (CIPS) is the world’s largest procurement and supply professional organisation. It is the worldwide center of excellence on procurement and supply management issues. CIPS has a global membership of over 70,000 in 150 different countries, including senior business people, high-ranking civil servants and leading academics. The activities of procurement and supply chain professionals have a major impact on the profitability and efficiency of all types of organizations and CIPS offers corporate solutions packages to improve business profitability.
I joined CIPS almost 10 years ago after more than 20 years’ experience managing and delivering profitable international publishing and media projects. In the first few years, I had responsibility for CIPS’ corporate “people and process” development programs serving the international energy and oil & gas sectors. Since mid-2017, my focus has been on establishing CIPS’ business in the Americas ensuring that CIPS’ provides its corporate and public sector customers with products and services that help them develop and improve their procurement and supply team’s capability and performance.
AB: How did you end up working in this industry and who were your major influences in your career?
Like many, I never chose procurement and supply as a career, I just ended up buying lots of things to make magazines and events! You meet many interesting people in the media world, many profess to be creative geniuses or ‘inspirational visionaries’, very few are. I did have the pleasure of working with a handful of people who really helped me see opportunity where others saw problems, and a couple really shaped my attitude to risk-taking.
AB: Recent events have taught us many things regarding short-term preparation and general planning, what should companies in your space be paying attention to now, in the short-term, and in the future?
PB: Building resilience into supply chains and having skilled professionals managing not only procurement and supply chain management day-to-day, but being involved in the strategic decisions too. Trained and up-to-date professionals have their finger on the pulse of what’s happening to suppliers, and any regulatory changes that affect supply chains and ultimately the business. Supply chains are fundamental and core to any organization, and CEOs should be looking to their procurement teams for the answer to today’s challenges.
For instance, during the pandemic, many businesses have been caught out with single-sourcing, and when the virus hit exports from China, were left with shortages in essential materials. I think we’ve all heard the story about Rolls Royce having to carry essential components in suit cases on passenger flights because they were unable to get important parts to keep supply chains moving. Professionals will look at multi-sourcing and develop plans for risk in their supply chains, because risks are always there as we have seen from tsunamis and volcano eruptions in recent years.
AB: This decade has gotten off to an inauspicious start, but it will eventually right itself. Where do you think we will be in 2030?
PB: When it comes to supply chains, digitization will continue to have an impact. Automation will mean much of the day-to-day operational activity will disappear and professionals will be called upon to develop their strategic thinking to a greater extent. The use of big data will also be a strategic weapon and I’m not sure businesses have understood that yet. I saw some research last year which showed that organizations were only using around 10% of the data they have in their business. Data is a precious commodity and with Data Protection Acts coming into force, it will become more valuable as time goes on.
AB: During the shutdown, what was the best or most interesting thing you watched, read, or seen?
PB: Music and books have filled the vacuum. Rediscovering old albums (Talk Talk – Spirit of Eden) and new music (Sault – Untitled). Best book, and most relevant as I finished the last third while the George Floyd horror show was unfolding and the inspirational BLM protests developing; Hanif Abdurraqib – They Can’t Kill Us Until They Kill Us.
AB: Great, thank you for taking the time to speak with me today.
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Tagged in: Chief Procurement Officer, CPO, CPO Rising 2K20, CPO Rising Summit, Leadership, People, Process, Technology, The Resiliency Imperative
