The stage is set in the battle for procurements future: The Future of Procurement: Commanding the Stage The Future of Procurement: Commanding the Stage – The future of the procurement function is a hot topic at the moment. Amongst the more insightful outputs comes from Oxford Economics, who recently published the results of a study that shows the evolution of procurement … Read More
Procurement Brand Management: What's in a name?
Is our profession intent on contemplating its navel? It sometimes seems so from the number of times the procurement press raise the debate about what to call ourselves.
Does your procurement strategy drive business success?
Strategic procurement can drive competitive advantage by enhancing revenues and lowering cost. Procurement can be said to be strategic in an organization if it contributes directly in the business planning process.
Measuring Procurements Financial Impact: RONA
It is becoming increasingly important that procurement is able to measure and report its impact on company performance, using metrics the CFO will understand and accept. RONA or Return on Net Assets, is one such metric. RONA, is a financial measure that helps to express the relationship between profit, sales, expenses and total assets. RONA demonstrates how a company … Read More
Procurement Brand Development
Procurement Brand Development “A brand is a promise. By identifying and authenticating a product or service it delivers a pledge of satisfaction and quality.” Walter Landor. Why does Procurement need a Brand? Procurement’s brand is arguably the CPO’s most valuable asset. Procurement’s brand is the totality of how its stakeholders see’s, talks about, and experiences it. CPO’s must therefore have … Read More
Procurement Thanksgiving
As the US Thanksgiving holiday reminds us all that 2011 is rapidly drawing to a close we take a look at five reasons for procurement to say thanks: 1. Procurement has had a ‘good recession’ Recessionary times has placed procurement in the spotlight. Whilst there has been company-wide belt tightening – procurement’s increasing influence over their organizations spend has increased … Read More
Procurements Value Add: If not now – when?
Procurement is now front & centre of the business world. So when will CEO’s place it at the centre of their business strategy? If ever there were a set of conditions to emphasize the procurement functions strategic place in business and the modern world, it is the current maelstrom of recession, sovereign debt, gathering inflation, political revolution and natural … Read More
The Brave CPO: Which path will you take?
The Brave CPO: Which path will you take? The Brave CPO: Which path will you take? The start of 2011 has seen a debate about procurement’s challenges as the combination of austerity drives and economic recovery converge. Some commentators say the profession risks falling back into obscurity once the recovery really gathers pace. I share this concern, which was heightened by … Read More
The 'inner buyer': Raising procurement’s self-esteem
Here we argue that procurement must first adopt the right self-image before it can convince others of its value: First impressions Procurement professionals are indoctrinated into the profession with messages such as: “you have to take the internal customer along with you”, “you have to persuade them” “you have to get their buy-in first” But what if internal customers are … Read More
Placing the CPO at the top table
The executive in the organisation to whom the CPO reports plays a vital role in breaking down corporate roadblocks, setting priorities and supporting procurement’s profile within the business. The CPO reporting relationship therefore has an important role in ensuring the effective contribution of procurement to organisational goals and strategies. Significantly, the reporting line sends a clear message regarding the importance … Read More