Sheri Spinks is a transformational leader with over two decades of experience in global supply chain, strategic sourcing, procurement, and supplier diversity. With deep expertise across industries including manufacturing, CPG, marketing, and distribution, Sheri has managed approximately $1 billion in global spend, overseeing sourcing, contract management, and strategic category management for direct, indirect, raw materials, and capital expenditures. Known for her inclusive leadership style, Sheri excels at aligning and energising teams to reduce risk, enhance performance, and enable growth. Her visionary approach has transformed supply chain organisations, positioning them as strategic business partners delivering excellence in strategy development, innovation, cost management, risk mitigation, and customer experience. A passionate advocate for supplier diversity, Sheri’s leadership is centred on empowering teams and driving competitive advantage. In this interview, Sheri shares her insights into the evolving procurement landscape, effective risk management strategies, and the importance of building resilient and agile supply chains.
How do you approach identifying and mitigating risks in your procurement strategy?
To effectively manage risk, begin by identifying any potential threats to your organisation, assessing them from both financial and non-financial perspectives. Consider the type of risk—whether operational, financial, reputational, legal, supplier-related, or environmental—and evaluate the likelihood of the risk occurring, as well as its potential impact. Prioritise your strategy and support risk mitigation plans based on the highest risks with the greatest impact and likelihood, especially those that could be detrimental to your organisation’s success and health.
It’s crucial to vet this risk assessment with business owners and stakeholders to ensure understanding and alignment. The plan should be flexible, with provisions for revisions as business needs evolve. In developing the procurement strategy, include methods to reduce the likelihood of risks materialising and to minimise the impact should they occur.
Your procurement strategy should be directly aligned with your organisation’s goals, supporting those objectives through a robust risk mitigation plan. This should focus on optimising strategic partnerships, effective negotiations, stakeholder/shareholder value, and ensuring quality and supply continuity, all while managing costs effectively. The ultimate goal is to minimise disruptions and maximise value, aligned with your organisation’s operational and strategic objectives.
What lessons have you learned from past supply chain disruptions?
I’ve learned many valuable lessons, but here are the top two that stand out.
Firstly, it’s essential to proactively plan and prepare for as many potential scenarios as possible. While it’s unlikely you will predict every possible disruption, having contingency plans in place is a game-changer. By asking yourself, “What if X happens?” and mapping out potential scenarios, you build a solid toolkit to respond to many common disruptions. This approach ensures that you and your team are always prepared, solution-focused, and ready to pivot quickly when faced with the unexpected.
Secondly, building and continuously fostering strong, open, trusting, and collaborative partnerships with key suppliers is crucial. When things go off track, you need to rely on your suppliers to jump in and problem-solve with you. What is sometimes undervalued is that these relationships, like all others, require time, commitment, and effort to build and strengthen. Just being a customer isn’t enough. Actively commit to understanding your suppliers’ needs and objectives, and prioritise developing strong, mutually beneficial partnerships. Both parties should aim to help and support each other and co-develop continuous improvement plans, contingency options, and solutions.
This combination of proactive planning and true partnerships is a winning recipe in the face of adversity and potential disruption.
How do you ensure that your procurement team is prepared to respond to unexpected challenges?
To ensure that your procurement team is prepared for unexpected challenges, it is essential to provide comprehensive training on strategic supply chain management and risk mitigation strategies. Empowering your team with strong leadership and the confidence to act is key. They must have the right tools and access to data, enabling them to make informed, efficient, and data-driven decisions.
The strategies you deploy should be agile, regularly revisited, and adapted as circumstances evolve. Your team should also be highly collaborative and solution-focused, with well-established relationships and networks that allow them to quickly engage and align with all departments and stakeholders. This ensures that any necessary changes within the supply chain are effectively communicated, and all ripple effects and impacts are understood and managed.
Additionally, having a strong roster of key strategic suppliers, along with a network of pre-vetted suppliers who can respond quickly to disruptions, is critical. These suppliers should be capable of providing alternate sources of supply and services when needed, ensuring continuity even in the face of challenges.
How do you balance risk management with maintaining agility in procurement decisions?
Balancing risk management with agility in procurement decisions requires a combination of timely information and smart speed. The global supply chain landscape is constantly evolving, as are the needs of your internal and external customers and the organisation’s objectives. An effective risk management strategy is not a one-time task—it must be continuously monitored, reviewed, and revised in response to changing conditions.
To achieve this, it’s crucial to equip your team with reliable, proactive data on market and commodity trends, geopolitical events, live supplier data, and technological innovations. This information empowers them to navigate potential issues quickly and with confidence.
At the same time, agility is key. Organisations that can swiftly adapt to changing conditions, leveraging the data at their disposal, are better equipped to manage uncertainty. By maintaining agility, you enable your team to ride the waves of uncertainty, finding higher ground and better conditions along the way.
Can you share examples of how you’ve built resilience into your supplier relationships?
Throughout my career, I have developed and enhanced resilience within my organisation’s supply chain and supplier partnerships using a variety of strategies tailored to the specific needs and challenges at hand. Below are a few examples of approaches I’ve deployed:
Contract Management and Negotiation: Establishing clear, comprehensive contractual agreements is essential. These contracts outline expectations regarding quality, service, delivery, terms, continuous improvement, and co-developed contingency and response plans. This ensures there is no ambiguity, allowing both partners to act quickly and effectively when issues arise.
Supplier Diversification: While consolidating spend with a single partner has its advantages, relying solely on one supplier in one geographical region can be risky. Diversification mitigates this risk by spreading dependency, fostering healthy competition, and providing leverage. It also encourages suppliers to stay engaged and committed to growth.
Strategic Supplier Partnerships: Suppliers are an extension of your organisation and play a critical role in your success. Recognising their importance and treating them as strategic partners fosters open communication and collaboration. This mutual focus on success allows for the co-development of solutions and ensures rapid support when challenges arise that could impact your business.
Real-Time Data and Visibility: Empowering your team with data and real-time insights is key to proactive decision-making. Leveraging technology and AI enables swift, informed decisions regarding suppliers, inventory, logistics, and market trends. This data-driven approach not only prepares your team but also builds confidence in supplier partnerships, as they recognise your commitment to informed, efficient action.
