Simply defined, the word procurement means “the act of obtaining or buying goods and services”. So, if that’s the case, let me ask a quick question to all the corporate event suppliers in our industry – “Why wouldn’t we seek out more people who do this”?

Taking costs out of the system is a good thing. And so is choosing partners that add value. Collaboration works.

In the events space, let’s take a closer look at procurement and why it makes sense to engage the teams responsible for corporate procurement.

Greater Opportunities

Every procurement initiative has a purpose – find out what it is, develop solutions in tandem, and Procurement will become your biggest champion. The key is focusing on them, their goals, and what they’re trying to accomplish. Throughout the process, as we’re both teaching and learning – the mandate becomes about ideas, planning, and producing. That formula works to everyone’s benefit, and soon, Procurement will become a key part of your sales team.

Strategic Planning

Procurement gives us the opportunity to look ahead, together. Through strategic account management techniques, we can synergize, create, and most importantly, plan. Are there enough current resources? Where will the teams need additional training? Does the current pricing model fit with today’s delivery expectations, and will it fit in the future? With so much short-term demand and constant change in the events space, we should take advantage of every opportunity to jointly look ahead.

Product Development

Through my 20+ years of experience in events management, one item remains consistent – the need to get better. Procurement hands us this responsibility, so why not use it as an opportunity to evolve? What can we do differently tomorrow to be a better partner? How can we take our current solutions and mold them to fit what’s coming? Ask about Procurement’s needs and where their business is headed – let these professionals guide both your toolbox and direction.

Return on Investment

Add value to an organization and report on it. Then, do it again. Document the ROI. Whether it’s stretching to deliver a new feature or changing processes to deliver against KPI’s, we’re motivated to perform, and outperform, every day. There’s nothing better than conducting annual reviews with Procurement and surpassing every KPI target available – and reaping the rewards of continued loyalty, trust, and mutual opportunity.