Buyers at Prudential to boost stakeholder collaboration

9 December 2008
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09 December 2008 | Jake Kanter

Financial services group Prudential wants its buyers to build better relationships with internal customers as a result of outsourcing its indirect spend.

In an exclusive interview with supplymanagement.com, strategic sourcing director Duncan Mosely said he wants his purchasing team to support the company's future business strategy by understanding more about stakeholder needs.

Last month Prudential outsourced its indirect spend including travel, marketing and property, to 4C. The details of the deal were not disclosed, although Mosely explained the agreement allows his team of 18 buyers to focus on "stakeholder networking", increasing supplier development and securing more deals with new vendors. He added that it would also allow the buyers to focus on more commercial categories such as "larger outsourcing transactions and support and distribution arrangements".

"[Outsourcing indirect spend] allows my retained team to focus on the commercial issues that we have in the business and allows us to bring the extra expertise in those indirect categories," he said. "Everything we do comes out of our business plan. We have to get out there, improve the [stakeholder] network and prove our worth. We must demonstrate that we are helping drive the business strategy forward."

SMdec2008

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