CFO Weekly Podcast: The Art and Science of Sourcing and Procurement in 2022 with David Pennino
LogicSource founder and CEO, David Pennino recently appeared on Personiv’s CFO Weekly podcast to speak with Megan Weis, where they discussed the role Sourcing and Procurement plays in today’s business environment, and how organizations can buy better. As companies face increasing headwinds with a looming recession, rising inflation, ongoing supply chain challenges and more, indirect procurement, when done right, can drive tremendous value for CEOs and CFOs.
CFO Weekly: The Art an Science of Sourcing and Procurement in 2022 with David Pennino
How much do you spend on marketing, IT, distribution, logistics, and corporate services? If you’re a consumer packaged goods company, a retailer, or an e-tailer, it’s probably about twenty percent of revenue. For a one-billion-dollar business, that means $200 million dollars, which is a lot. But David Pennino states that you should be able to save between five and fourteen percent on that by doing sourcing and procurement efficiently.
David is the Founder, CEO, and Director of LogicSource, a business consulting and services company that focuses exclusively on the sourcing and procurement of indirect expenditures. He has spent the last twenty years advising and helping companies buy better. David’s experience includes a mix of early-stage and established businesses. Before LogicSource, he held senior and executive leadership roles at Williams Lea, Gartner, and Scient.
- What is LogicSource
- How organizations can buy better
- Reinventing sourcing and procurement
- The advantage of doing sourcing and procurement well
- How companies can buy better in 2022
- The value of indirect procurement to a CEO and CFO
- Misconceptions about procurement
The innovative leader in procurement services and technology, LogicSource is purpose-built to drive profit improvement, mitigate risk, and ensure supply chain continuity through better buying. LogicSource focuses exclusively on the sourcing and procurement of indirect goods and services, which typically represent 20% of an organization’s revenue and the area of greatest spending inefficiency. These include complex categories like marketing, packaging, corporate services, facilities, information technology, distribution and logistics and more, for which organizations often lack the capacity, focus and scale to achieve best-in-class buying. Unlike traditional advice-based consultants, LogicSource is a purpose-built buying utility with assets that are configurable to their clients’ needs and ready to deploy. By combining decades of sourcing and procurement expertise, superior market intelligence, cross-portfolio spending leverage, and their OneMarket® Source-to-Pay technology, LogicSource executes customized solutions that deliver immediate savings and sustainable value. For more information visit www.logicsource.com.