One of my learnings after more than 30 years in procurement at P&G is that procurement roles in different industries face similar challenges and opportunities. We all struggle with budget, talent, market dynamics, economic and political shifts. All procurement leaders want to be the best they can be, and need a solid understanding of procurement skills to be able to lead through the stormy waters that we all experience.
At P&G, I worked and led through six currency crises, multiple supply assurance “black swans,” only one Great Recession (thankfully) and many significant weather events, explosions, supplier bankruptcies, business sales, acquisitions, and loss of top talent. These situations occur in any and all procurement roles, but there are some unique considerations for procurement professionals in the Consumer Packaged Goods (CPG) industry compared with other industries. Here are six key procurement lessons from the CPG industry that are equally relevant for procurement professionals across all industries.