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Outsourcing Procurement to Bring Commercial Flair to Universal Music
Universal Music teamed up with Proxima to present the rationale for outsourcing procurement and what the experience was like from Universal Music's perspective.
The session (inevitably backed at times by music) delved into why a large, very capable organisation such as Universal Music decided to outsource, what were the key lessons learned during the outsourcing process and how indirect procurement has forever been redefined for Universal Music - from a decentralised, tactical function to a strategic business partner.
The session also discusses the challenges of operating in a young, dynamic and creative environment looking into the growing pains associated with adapting to ever changing consumer trends, technology and managing a multi-national business.
During the 40 minute discussion you will hear:
- Overview of the ‘World we live in’ – snapshot of the music industry and the procurement profession today
- The need to critically evaluate internal skills / capabilities and acknowledge the need to look externally for new insights, influence and experience
- Key steps along the procurement outsourcing journey
- How governance was developed and performance measured
- Lessons learned along with key strategic and practical take-aways
- Q&A from the day