Lori Averso

Background

About Lori Averso

Procurement Leader with demonstrated experience in global procurement and strategic sourcing in Fortune 500 companies; expertise includes: Global Business Transformation, Change Management, Process Improvement, Center of Excellence driving the Procurement Discipline. Global Vice President Procurement PVH Corp. NYSE: PVH (parent of Calvin Klein & Tommy Hilfiger) 2016-Present Created the procurement function for PVH Corp. and built the infrastructure, processes and financial controls. Drive deployment, execution and adoption of a global commercial procurement strategy for IT, Marketing, Operations, Finance, Corporate, Professional Service and Supply Chain. Enhanced performance across categories to provide cost savings and optimize supplier relationships leveraging sourcing strategies to ensure procurement initiatives achieve the company revenue targets. Lead cross functional international teams who support procurement to identify and implement cost savings and financial controls. o Spearheaded the development and execution of a global procurement strategy that resulted in managing spending delivering 17-33% savings by conducting competitive RFx’s. o Transformed the procurement function digitally by implementing Ariba/SAP (P2P, Sourcing, Spend Visibility), resulting in reducing duplicated invoices, fraud, consolidating suppliers and analyzing spending behaviors to identify sourcing events delivering 7-23% savings annually o Negotiated and consolidated to global contracts with key suppliers to eliminate automatic renewals, prevent cost increases, and capitalize on supplier innovation o Identified and conducted Global RFP opportunities to drive cost efficiencies, supplier consolidation and eliminate noncritical supplier relationships averaging $23-$41M annual savings o Authored procurement mandate and financial policies to control costs and deliver OPEX and CAPEX savings (procurement involvement >$250K) o Partnered with Internal Audit and Risk to ensure SOX compliance and controls are defined and recorded annually o Cultivated team capabilities through talent development, establishing performance metrics and optimizing processes to focus on team engagement and offering open communication for effectiveness