Episode 5: Delivering Value Beyond Cost Savings
By Jana Spivey | August 31, 2020
In this episode of The Sourcing Hero, we welcome Nick Gunn, CEO and Founder of The NiVACK Group. Nick has spent over 22 years in procurement and shares powerful insight about the importance of understanding as the foundation of any strategy.
From the motivations of the customer to the greater business goals, understanding equips procurement to determine creative approaches and deliver solutions that bring true value.
[01:27] The definition of a Sourcing Hero. A hero understands the needs of the organization and uses that knowledge to create strategies that deliver value in addition to cost savings.
[02:40] An “aha” moment. One of the key lessons Nick learned during his time in procurement was about due diligence and the importance of understanding your customer.
[07:38] Finding the win-win. Understanding your customer’s perspective and motivations will enable you to come back with a win; for them and for you.
[09:56] The power of common ground. Hear about the impact of positioning as Nick shares how a question followed by a story led to an incredible outcome.
[13:58] Beyond the data. Procurement is notoriously good at collecting and analyzing data, but the ability to align your strategy to the business goals is where the true solution lies.
[16:56] The why leads to the how. Dig deeper to understand the “why.” Then you’ll have much more latitude to come up with creative solutions to meet those needs.
[21:07] Paying it forward. The NyVACK Group provides small businesses with advice and coaching to improve their profitability by focusing on lowering their costs and becoming more competitive.