[ spend•set-er ]
A leader who upends the status quo, breaks convention, creates new paths, and inspires all of us.
As the SVP and chief procurement officer of MGM Resorts International, Stacey is on a mission to deliver excellent and innovative experiences for MGM’s guests.
When Stacey arrived at MGM, it was clear that the customer experience was at the heart of MGM’s hospitality business. The products and services MGM purchased were very important yet also very diverse; from high-grade sushi for its five-star restaurants, to dolphin medicine for its marine habitats, to shampoos and steamers for its hotels.
Stacey saw an opportunity to create even better customer experiences by including suppliers more closely in MGM’s ongoing innovations. But with over 30 unique hotels and properties within the MGM portfolio, getting visibility over existing suppliers and spend was challenging — especially with the older technology that MGM was using.
“Stacey’s sense of inclusivity proved to be the key to successful transformation. She partnered closely with MGM’s business units, creating centers of excellence for several product categories. Together, they worked to increase compliance and visibility over spend and supplier relationships by implementing a modern business spend management platform. “
This, in turn, helped MGM foster tighter relationships with suppliers to drive innovation at scale in a way that would ultimately benefit MGM’s guests.
As a result, Stacey has led MGM Resorts International to achieve 98% PO-backed spend (from 30%). And for suppliers, MGM now has 100% electronic invoicing, allowing for greater visibility and on-time payment.
Subscribe here to follow our Spendsetters series.
We’ll be featuring a new leader in the BSM community each month.