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.
5 Reasons to Conduct a Purchasing Skills Assessment:
Assessment strategies should be developed with a clear understanding of the knowledge, skills, abilities, characteristics, or personal traits you want to measure.
Purchasing skills: expert advice for selecting a superior quality skills assessment
When choosing a purchasing skills ssessment, procurement executives need to think about practicality, reliability, validity, and impact.
Using Purchasing Skills Assessments to drive superior team results
Using Purchasing Skills Assessments to drive superior team results We discuss ways to motivate procurement teams and individual team members using Skills Assessments to drive superior team results. One of the most significant challenges CPOs face is their team’s strategic personal development to ensure their talent’s effective use. To correctly manage this critical resource, they must identify their business challenges … Read More
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
The Key Principles of Category Management
Implement the Key Principles of Category Management If you are interested in making category management a priority, implementing the key principles of category management will help place category management at the heart of your company’s overall business strategy. Here is a bite-size look at the key principles of category management: Category management is founded on five key principles: Cross- functional team approach … Read More
2013 IBM Study on Procurement Excellence:
‘An illusion of best procurement practice’? Perhaps it was the fact that this reports findings strongly align to the Purchasing Practice lines of practice that it caught my eye among the daily swirl of procurement news. Or is it just an illusion of best procurement practice? Large IBM Study Identifies Key Characteristics of Best Procurement Organizations The report … Read More