Are you a woman business owner trying to access more markets or global buyer looking to increase supply chain diversity? I think both sellers and buyers can learn from Procter & Gamble, who has made a “Rise to the Challenge commitment” to buy at least $10 billion from women owned businesses by 2025!
In the expert-led webinar for WEConnect International, Procter & Gamble covered the basics of what you need to become a supplier to the company as a B2B woman business owner based in the Middle East. Speakers Dyana Al Ayyat, P&G’s Senior Purchases Logistics and Sustainability Leader in the GCC, and Mohamad Saksouk, Purchasing Director for P&G in the GCC, also highlighted P&G supplier selection criteria and purchasing principles.
When finding suppliers, P&G looks at best total value, an analysis which considers the quality and reliability of services along with their competitive costs. The purchasing team also considers the innovation, supplier diversity, sustainability, commercial and market expertise, responsiveness, and financial stability of the company. In this vein, P&G looks for suppliers that are constantly improving their products and business models and finding innovative solutions.
For those hoping to work with P&G as a supplier in the MENA region, Dyana and Mohamad outlined P&G’s procurement process. First, the purchases team identifies a need for a product or service. They proceed to search for qualified suppliers, which is where WEConnect International comes in. As a Member Buyer of WEConnect International, P&G uses WEConnect’s database of 15,000 global women-owned businesses to post business opportunities and to identify and connect with potential suppliers. The Women’s Business Enterprise (WBE) certification that women businesses can apply for through WEConnect International verifies that businesses are at least 51% women owned, managed, and controlled – thus saving P&G the time and cost of having to verify suppliers themselves.
Once suppliers are asked to bid, the P&G team evaluates best total value. They complete purchase approval, conduct agency on-boarding, and measure and manage agency performance through key performance indicators (KPIs).
One key takeaway from this webinar is that P&G is guided by principles for strategic sourcing, including best total value, honest, ethical and fair dealings, externally linked supply solutions, competition and collaboration, and, finally, supplier incumbency. Another is that the purchases organization is responsible for sourcing all goods and services that P&G needs to operate.
Working with a company like P&G as a woman-owned business in the Middle East is important for gaining the competitive edge that is needed to succeed in global markets. Watch the full recording of the webinar event here. And consider checking out WEConnect’s Event Calendar for future webinars and opportunities for engagement.
There is a lot of other exciting programming coming up – including virtual WEConnect International Day on June 21, where you can network with and learn from buyers and other women owned businesses from around the world. Tickets go on sale March 30!
We hope to see you—a woman business owner trying to access more markets or global buyer, looking to increase supply chain diversity—at future events!