May 21, 2019
Sid comes from KPMG, where he managed a diverse portfolio that shaped his techniques for sourcing strategies that he uses today. Sid now works at VSP Global, under the leadership of their CPO Greg Tennyson, primarily in the vision insurance space and providing affordable eyecare globally. Sid encourages his staff to focus on continuing education by obtaining certifications in different sourcing concepts, such as third-party risk management. These certifications provided an opportunity for the entire team of 20+ employees to become CFE certified, which gave his team with a common consensus of procedures and vocabulary moving forward. Technology is also impacting their sourcing strategies by meeting the needs of their suppliers through reduction of mundane, transactional processes with automation bots. Thus, allowing employees to use their time to focus on strategic activities such as working more with internal business partners and building supplier relationships.
Key Takeaways:
- Siddharth’s advice is to encourage teams to continue their education through certification training to achieve organizational growth.
- Sid embraces the ambiguity of projects from a procurement standpoint, by seeing them as opportunities to learn how new technologies can assist. By figuring out the unique challenges and embedding them into the company, his team continues to move the needle on their procurement journey.
- A well-rounded, sourcing professional knows the importance of analyzing, problem-solving, listening to stakeholders and suppliers, as well as being good at negotiations, collaboration, and the ability to be persuasive.
- His advice for young professionals is to take more risks and learn from your mistakes earlier in your career to expand your horizons sooner rather than later.