Having the right people in Purchasing is a must to delivering procurements promised strategic contribution. So try to answer the following questions for your organization:
Have you developed a Culture where people are deeply aware of and have internalized the Mission, Vision and Core Values needed to execute the Purchasing and Business Strategy?
- How well prepared and equipped to carry out the Business strategic goals is your Purchasing team?
- Have you clearly defined your Operating Model and the necessary roles and responsibilities?
- Do you have a clear understanding of the following?:
- The Talents, Skills and Knowledge you currently possess?
- The Specific Competencies needed?
- Whether your employees have the right kind and level of expected skills.
- How to Attract, Develop and Retain talent?
The iProcure Platform will answer this for you.
A McKinsey global survey of purchasing executives found that those setting the pace in purchasing best practices differ from ordinary companies. These leaders:
- Hire better people
- Set clearer performance objectives for them
- Create strong procurement cultures aligned to corporate strategy
The survey found that leading companies enjoy annual cost savings from their sourcing activities that are nearly six times greater than the annual savings of low performers. Moreover, the leaders are now positioning themselves for broader strategic gains as global competition intensifies.
Is your organization a leader or a laggard?