For Daniel Weise, procurement, a role that has long been underestimated, is the key to increasing competitiveness, with cost reductions, increased sustainability, reducing risk in supply chains and a capacity for innovation, quality and speed, all representing crucial issues for business leaders. That’s why his book, due to be published this summer, is called “Profit from the Source”. As a Global Topic Leader for Procurement at BCG, Daniel has been involved with INVERTO since it first became part of BCG, and he will drive our development even more actively in his new role as CEO.

Daniel, how did procurement become such a central issue for you, and what do you find particularly exciting about it?

I studied business administration at university. I came into contact with the subject quite early on in my time there and recognized my passion for it. I then wrote my thesis on electronic auctions in procurement, which was seen as a ‘new topic’ at that time. My first project after joining BCG in 2003 was also based in procurement. I’ve remained keen on this area ever since and I’m now responsible for it globally at BCG. What I find particularly exciting about procurement is the huge influence it has on a company’s success. Decisions made by procurement shape the course of a company for the long term.

What do you see as challenging for procurement right now?

Procurement is experiencing a fundamental paradigm shift . Previously, it was very cost driven. Buyers were trying to make savings and drive down prices. The current situation is dominated by raw material shortages, inflation, geopolitical tensions, and a growing awareness of sustainability in society.So merely optimizing costs is no longer enough. Aspects such as risk reduction, quality, speed, sustainability, and innovation are just as important for procurement, and they put the focus on suppliers more than ever before. More and more companies are recognizing this and are realigning procurement’s role accordingly. And it’s paying off.

What impact does that have on our work as consultants?

It makes our job at INVERTO even more exciting and varied, because we can use our extensive expertise to help our customers with these issues. Let’s take sustainability as an example: it’s just fun making the world a bit better! At the same time, our consulting approach has become more digital. We have more data available than ever before and so we can act more quickly, transparently, and effectively. Coronavirus has also changed our working model. The principle of “living out of a suitcase for days” no longer exists. We have various hybrid scenarios now, including working at the customer’s premises, from home, or at the office.

What distinguishes us from our competitors?

We have extensive expertise and years of experience in all of the areas that affect procurement. At the same time, focusing on implementation has always been part of INVERTO’s DNA, which gives us another edge and clearly differentiates us. We don’t just work in partnership with our customers, we also pitch in ourselves so that we achieve the best results together. And having integrity and a down-to-earth attitude is just as important to us as positive cooperation in diverse teams. Just being VERY INVERTO!

And where are we heading? What is your vision for the next five years?

Our course remains set for growth. We want to open up more markets in Europe, as well as continuing to establish ourselves as a home for the best procurement talent. We’ll continue to develop diversity within the company and implement our ‘new ways of working’ effectively.

We’re also going to diversify our range of consulting services even more. Issues such as sustainability or resilience in the supply chain will gain in importance in the coming years and need to be linked more closely to goals such as cost reduction, risk management, a capacity for innovation, and quality. We’ll also expand our range of digital tools, with a particular focus on analytics and artificial intelligence. Being part of BCG offers us great opportunities here.