THE FACULTY QUARTERLY

Summer, February 2012

Resolutions – What have you committed to this year?

The New Year is already underway and for many of us, our New Year resolutions have focused on getting fit and spending quality time with family and friends. At The Faculty, the debate around the value of New Year resolutions and our ability to keep them, led to us creating what we felt was the ideal list for every procurement professional.

1. I will...build resilience into my supply chain

With devastating natural disasters shepherding in 2011, it is important not to forget the lessons learnt from these events. Reviewing supply chains and risk management contingency plans should future surprises occur, will strengthen our supply lines, ensure supply continuity and reduce the organisation’s overall risk exposure.

2. I will...strive to achieve my full leadership potential

The best leaders constantly review and assess their leadership performance in all scenarios. Consider what your leadership goal is, and be clear about your path to success. Everything you do in 2012 should help you to strive towards achieving leadership success.

3. I will...create new value from the organisation’s external networks 

In 2012, seek to define what value means to your organisation. Does value solely revolve around cost, or is there a more compelling need to manage risks and supply security? Consider what value means to your stakeholders too – an understanding of this changes the conversation with the supply market and fosters collaboration between suppliers and stakeholders.

4. I will...foster commercial expertise and entrepreneurialism within my team 

While procurement professionals quite often fall into the trap of focusing largely on technical skills, the benefits derived from enhancing commercial skills within the procurement function can often greatly exceed benefits achieved from process delivery alone. Promote creativity and entrepreneurialism to generate ideas and approaches that redefine value to your organisation.

5. I will... "be here now" 

The best leaders (and the best people) truly engage in the moment at hand. Consider how often you look at a computer screen, TV, blackberry or iPhone when someone talking to you. In that one moment, you’ve missed an opportunity for sending a message that you value what the other person is saying. Whether it is attending a meeting or conference, dinner with the family, a casual conversation or other activities, when we fully immerse ourselves in the moment we both gain and give.