Freedom to Spend Smartly: Unpacking Bayer's Procurement Power Play
Description
In procurement, tight control over external spend is a golden rule for cost savings. But what would happen if leaders loosened the reins? Malik Akhtar, Chief Procurement Officer at Bayer Consumer Health, tells Zero100 VP, Research Geraint John how the company’s "Freedom to Spend Smartly" strategy is putting buying power in the hands of non-procurement users while keeping spend and supplier numbers in check.
The why and the how of Freedom to Spend Smartly (00:56 )
Initial concerns and selling the policy to the CFO (3:20 )
Managing governance and non-compliance (4:24 )
How AI is helping procurement leaders and rookie requisitioners (5:22 )
Decreasing costs, frictionless service, and other early benefits (7:09 )
Rethinking procurement skills, responsibilities, and incentives (11:28 )
What’s next for Freedom to Spend Smartly (15:18 )
United States
