In this episode of Smarter Sourcing, John speaks with Stephen Sharr, Head of Procurement at Footprint, who shares his decade-plus journey from Anheuser-Busch to a dynamic startup environment. Stephen discusses the evolution of procurement from a transactional role to a strategic partner in driving business growth, particularly in the wake of the pandemic.

He also emphasizes the importance of financial acumen in procurement, explaining how understanding cost structures can enhance decision-making. Additionally, Stephen highlights the challenges and opportunities in supply chain management today, including the shift towards domestic sourcing and the critical need for agility in operations.

Topics discussed:

• The transformation of procurement from a transactional function to a strategic partner essential for driving both top and bottom-line growth in organizations.
• The impact of the COVID-19 pandemic on supply chain management, highlighting the increased focus on risk management and supply chain resilience.
• The importance of financial acumen in procurement, allowing professionals to understand cost structures and make informed decisions that drive profitability.
• The shift towards domestic sourcing and reshoring, as companies seek to mitigate risks associated with global supply chains and enhance supply chain agility.
• Strategies for building strong supplier relationships, emphasizing the need to sell the growth potential of smaller companies to attract key partners.
• The role of technology in enhancing data visibility and operational efficiency, enabling procurement teams to make data-driven decisions in real-time.
• Insights on talent acquisition in procurement, balancing the need for foundational experience with the adaptability required in a startup environment.
• The significance of understanding the entire business landscape, allowing procurement professionals to contribute meaningfully to organizational goals and objectives.
• The future of packaging and sustainability, as Footprint aims to eliminate single-use plastics and lead the charge towards more eco-friendly solutions.

Guest Quotes: 

“And so I think that’s something I would highly recommend anybody to that gets the chance to spend a little bit of time in like a cross functional finance type role. It no doubt has made me a much better procurement professional and a procurement leader now. And you know, running a function, it’s not about just saving money, it’s how can we actually you know, improve margins and how can we help grow the top line by reducing cost in a certain product.”

“A lot of our customers or brands that you’d be very familiar with that, you probably experience every time you go to your local grocery store. So that’s kind of the food mix segment. I think what separates us from maybe some of the other competitors in the market is that in addition to just making the actual molded fiber packaging product itself, we use what we consider to be a proprietary, to have proprietary technology in that product. So when it comes to things like having different barrier properties, which are super important when it comes to having food and drink, we’re able to do that through chemistry in a way that we view is pretty, pretty unique.”

Get in touch with Stephen Sharr:  

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Website

Get in touch with your host, John Pavia: 

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