THE ESTÉE LAUDER COMPANIES
“ Global supplier management emphasises a more holistic, end-to-end view of the supplier lifecycle,” Nirav explains.
“ It includes everything from sourcing and onboarding to risk management, performance monitoring and reimagining the underlying processes and technologies that will enable the next generation of procurement.”
The transformation isn’ t happening in isolation; instead, it is intricately connected to ELC’ s broader strategic objectives. The GSM approach serves as a core enabler of the Beauty Reimagined vision, supporting enterprise-wide goals of accelerating speed, fostering innovation, enhancing cost efficiency and strengthening risk management.
Reimagining procurement’ s strategic role The traditional view of procurement as primarily a cost-reduction function is fast becoming obsolete – and ELC’ s strategy exemplifies the ongoing evolution.
Nirav’ s view is that modern-day procurement must focus on gaining a competitive edge rather than simply minimising expenses.
“ I think it’ s critical, as a modern-day procurement organisation, that you are not only focused on cost, but also on how you can drive that competitive advantage for the business,” he goes on.“ That can only happen by focusing on the overall value proposition of your business, as well as the end consumers and their priorities.”
54 November 2025