REGENERON
After joining Regeneron, it was clear to Matt that the company’ s scientific success had compelled it to grow rapidly for more than a decade. It was also clear that his colleagues were some of the hardestworking he had ever had the opportunity to work alongside. Most importantly, it was crucial for this organisation to evolve in a way that enabled it to support the company’ s continued growth more efficiently and effectively.
Building foundational capabilities This focus on evolving Regeneron’ s Procurement organisation was critical to its significant change over the course of the last 24 months. As a company, Regeneron is used to change, and the ability to rapidly respond to patient needs is embedded in the company’ s DNA.
Therefore, as the leaders within Regeneron Procurement looked to develop and grow its capabilities to support the company’ s future, it had to create an organisation built to evolve with the company. The leaders of the team were adamant that this was not going to be another“ procurement transformation,” but the building of a foundational procurement capability designed to evolve with the business.
Consistent with Regeneron’ s culture, the people within Regeneron’ s Procurement team needed to play an integral role in this evolution. The procurement leadership team was committed to engaging the organisation’ s extended leaders as well as the broader organisation in defining the team’ s evolution.
“ I know that I am privileged to work with this team, for Regeneron and within a culture that is unlike any I’ ve ever had the opportunity to work in”
Matt Everett, Senior Vice President and Chief Procurement Officer, Regeneron
Decision rights and timelines were clear. However, the leaders knew that to get to the best possible outcome, they needed to harness the collective input of the team when defining the best path forward. It was for this reason that the leaders broadly and proudly communicated that the top priority for the organisation was to ensure that Regeneron Procurement was a great place to learn, grow and develop.
This was more than a slogan or a talking point. It was a commitment that the leadership made to themselves and to their teams. The team had specific metrics related to internal development, training, promotion, retention and performance management. If the whole organisation was committed to making this change a success, it had to understand that each member was a respected and valued part of the process
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