I found this interesting article and a new app to help us to be the people we want to be and not the ones we already are. How does that work?
It focuses on human behaviour towards spending and short term desire and long term impacts. The app will force people to think about the opportunity cost of money, or what you give up (saving for college) to get what you want (another expensive dress or a rate bottle of whisky)
The app allows a goal to be matched with an anti-goal and on the assumption that we give in to our short-term desires too easily, I can see how it can confront us with the longer term impact and curb our decisions from the here and now to the there and then.
Every time we make a decision, consciously or not, we tend to gravitate towards the faster gratification rather than the longer term better benefits.
Is this the same with procurement professionals? Or is this maybe one of the reasons why we continously hear that we delay the process, and we are slow in making a decision?? Because we focus on the long term goals rather than the quick wins?? Because a bad decision has bottom line impact for the whole business?? Because we are the risk guardians for our company?? Because the business looks to us to deliver what we award?? Because it is our objective to deliver Value for Money solutions?? Because we care??
I would hope all of the above, but I am realistic enough to know that our Procurement brand has not loyal followers and our Procurement professionals are not really seen as value creators or even as a profit center. Not yet. In the new and brave world, we have a lot of work ahead of us. We can do so much better and we should begin by doing a much better job on communicatng this to all who are involved in the decision process, budgetholders in our business and suppliers in the market.
Where an app is showing us we are following the right process, our input determines our output. Buyers need to show their subject matter expertise, their early stakeholder involvement and their open mindset when it comes to finding the fit for purpose solution for the business, and when it comes to delivering Value for Money partnerships with the experts in the market…
Mindset, skillset, toolset, and nothing less for the sake of win-win solutions, for the sake of creating value across all the stakeholders who are involved in the buying/selling process.