Stakeholder - June 2014

9 June 2014

14 June 2014

What do leaders want from their procurement and supply professionals? Supply Business 
spoke to three business leaders to find out.

Where does procurement really add value?

“Procurement and supply play a pivotal role in my business. From day one I worked diligently on the business model, ensuring I was not only bringing structural innovation to the supply chain, but also creating a scalable model that could be replicated internationally by securing exclusive agreements with suppliers that would 
support our business plans.”

Vashi Dominguez, founder and chairman of online jeweller

Can you quantify the value of procurement?

“Efficiency in procurement will always lead to increased profitability and appropriate automation of procurement systems can be a complete game changer.”

Will Davies, co-founder of property maintenance 
and refurbishment company,

How can procurement drive innovation?

“When we talk about procurement, most people have a strategy to reduce costs and improve efficiency, but procurement is about balancing risk and reward in procurement language terms and costs. Initially, 
I engineered the business model so that risk was lower and reward not as high as it could be, as costs can 
always be reduced with scale. Without the right tolerance – and as the business grows and becomes more stable and predictable – you 
can start to increase procurement risk to 
reap cost rewards.”

Vashi Dominguez

Has procurement assisted any specific projects?

“We used a PDA-based purchase order system, which means engineers do not need to wait at suppliers’ premises and can get the maximum use from their day. It also helps us ensure material prices are correct and quantities can be controlled centrally. 
We have worked hard to drive down fixed and flexible costs. If we know we can grow and improve margins at the same time, then the bottom line will look after itself.” 

Will Davies

What’s the best advice 
you have been given?

“Surround yourself with excellent people. They key to a good CEO 
or business owner is recognising that you cannot do everything 
by yourself; you need experts 
to help steer the ship in the 
right direction.”

Daniel Gestetner, co-founder 
of frozen yoghurt brand yoomoo

What does excellence from your 
team and staff look like for you?

“A team that comes to work engaged and works passionately together in a great working atmosphere. Unless you enthuse your staff with positivity you can’t expect them to deliver. An environment that is fun and open-minded will breed excellence. For me, excellence isn’t in a person’s talent and skills, but more in their attitude and dedication.”

Vashi Dominguez

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