With a background in Blue-chip multi-nationals, new technology start-ups and 20 years+ Procurement experience, Fergal brings extensive strategic sourcing and cost transformation expertise across global, local, centralized and decentralized Procurement functions, managing annual 3rd party spends of €1bn+ with aggressive cost savings and margin growth challenges from demanding CFOs.
Presentation title: “The age of simple price reduction is over, Procurement-led Cost transformation must now begin”
Synopsis: “Procurement has traditionally focused its efforts on reducing unit pricing on third party spend. This is no longer enough to satisfy today’s under-pressure, highly margin-driven CFOs. Procurement must break beyond the narrow confines of price reduction and embrace end to end procurement-led Cost transformation. This means challenging the demand drivers on third party spend, tackling underlying consumption behaviours and redesigning the key cost drivers on each spend in addition to addressing unit price. And all of this on top of driving cost innovation on new products and services. That is the next challenge for Procurement – now how do we develop the skills to become the key cost enablers of the businesses we operate in?”
