BP is Smartly Architecting Better Outcomes for the Business and Creating More Holistic Value

For the longest time, procurement has been heavily focussed on generating value to an organisation by reliably sourcing items at the best possible price. However, Procurement Vice President for Digital & Talent Supply at integrated energy company BP plc, Mark Smith has a bigger vision.

“I’ve always been interested in the architecture of procurement,” said Smith. “Where the function is going and how we bring the right mix of technology, people and mindsets together to make the best possible contribution to the business that procurement can make.”

BP believes that procurement has a significant role to play in hitting the company’s target of becoming net zero by 2050. This can be achieved by always thinking critically and questioning whether an item being requested is actually necessary or whether negotiating achieves the best outcomes. The way procurement uses spend can be a force for good in the world by, for example, supporting communities by leveraging smaller local suppliers over the big brands.

“You can help improve living conditions for the people in your supply chain, and of course you can grow revenue for your company through innovation,” continued Smith. “That’s a lot of levers you can pull with your spend when used in the right way.”