FIVE MINUTES WITH ...
AS AN OPERATIONAL EXCELLENCE SPECIALIST , WHAT WOULD YOU SAY ARE THE MOST IMPORTANT ASPECTS OF OE ?
» As far as supply chain is concerned , operational excellence it ’ s about understanding where you ’ re generating failure demand . In this industry , the truth is that you ’ re always fixing things , because people price potential losses into the deal . This is why I ’ m excited about our work with Ivalua because using their systems will mean that we won ’ t be simply going around chasing and fixing . Through their ecosystem it means that the quality of the job improves as it allows for systemising processes like guided buying , purchase orders , service receipts , automated invoices and the like . This also means that we can be a more efficient customer for our suppliers , so through the Ivalua system , we will be able to improve their processes .
“ I ’ m excited about our work with Ivalua because using their systems will mean that we won ’ t be simply going around chasing and fixing , we will be able to grow value ”
WHAT ADVICE WOULD YOU GIVE TO ORGANISATIONS IN TERMS OF THEIR TRANSFORMATION JOURNEYS ?
» Spend time understanding what it is that you need to improve now . Ask yourself what you are trying to fix . Sometimes the problems are obvious and simple . But once you ’ ve identified the issues , you then need to figure out what it is that ’ s underpinning them , and identify the demonstrable data sets that go with it . This can be really difficult , because if you don ’ t have a system already in place then how are you measuring it ? Don ’ t try and run before you can walk . I think that with supply chain transformation in particular , there is a massive cultural component , often it is behaviours that need to change . Also , transformations never go exactly to plan , but you need to keep faith that it will get there . For it to work though , you have to take people with you . You need to be providing a seamless colleague experience , and then your business case will follow through .
ARE THERE ANY CHANGES THAT YOU ’ VE NOTICES IN THE INSURANCE WORLD THAT WE NEED TO BE AWARE OF ?
» It ’ s incredibly dynamic . So it ’ s about how people interact . From a supply chain perspective , there is a big change around increasing regulation . It can be specific to financial services and ESG has a massive part to play .
22 May 2023