In the news: Marketing procurement executives from top brands like McDonald’s, Dell, LinkedIn, and PepsiCo are redefining their roles to foster collaboration between procurement and marketing teams.
As marketing budgets come under increasing scrutiny, leading Procurement Execs stress the importance of aligning procurement efforts with marketing goals, not just focusing on cost-cutting. They advocate for early engagement, understanding each other's value, and driving innovation while maintaining financial efficiency.
Industry experts emphasize the need for strategic, value-driven procurement practices, noting that building trust and mutual understanding between departments is crucial for achieving the best outcomes in marketing investments.
AdAge recently named 11 Marketing Procurement Executives to Know. ID Comms' Tom Denford highlights that procurement should not merely be seen as a cost-reduction tool but as a strategic partner. He notes the significance of fostering a servant leadership mindset in procurement teams, where the goal is to empower marketing teams to deliver outstanding results while staying within budget. Denford praises executives like Kevin McCollum of Hershey, who effectively balance cost and value in their procurement approach.
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