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.
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
Procurements Place in the Value Chain
Procurements Place in the Value Chain Procurements Place in the Value Chain – An interesting commentary from Spend Matters on procurement’s position in the supply chain which supports my own views (maybe that’s why I found it interesting). Namely, that procurement is the upstream part of the supply chain, where initial value is captured, whilst warehousing and distribution are downstream … Read More
Strategic Outsourcing – Part 1
Strategic Outsourcing Strategic Outsourcing: The ‘make or buy’ decision is still at the heart of business strategy A guide for CEO’s, CFO’s and CPO’s on developing a formal outsourcing strategy to support their core business goals What’s in it for you? Discover how to take control of outsourcing by developing a systematic outsourcing methodology as a core sourcing management tool … 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
CPO's: Don't miss the innovation opportunity
CPO’s: Don’t miss the innovation opportunity CPO’s: Don’t miss the innovation opportunity – Businesses are looking once again at the next growth phase. Key to business growth is innovation and it is here that procurement must learn from the missed opportunities of not making the connection to outsourcing. Procurement has achieved great things with the strategic sourcing process. It provided … Read More
Driving savings to the bottom line
Driving strategic sourcing savings to the bottom line Driving strategic sourcing savings to the bottom line – we discuss how procurement leaders secure powerful savings and drive them to their bottom line by approaching sourcing strategically to deliver and capture cost savings for their organizations. What’s in it for you? Increased earnings and business efficiency Reading Time: 5 minutes Introduction: … Read More
Procurement Must Be Strategic or Die
Procurement Must Be Strategic or Die Procurement Must Be Strategic or Die – In a post, over on SM Steve Bagshaw asks us to contemplate what we call ourselves – a question which refuses to die. On the Purchasing Practice Linkedin group this same question is still receiving comments more than 12 months after posting. The answer really depends upon … Read More
Expanding Procurements Scope and Influence
Expanding procurement’s scope and influence is critical for CPO’s, if procurement is to develop its value contribution beyond cost savings. Here we discuss some mechanisms to help procurement leaders achieve this goal: The ability to expand the depth and breadth of procurement’s playing field, to take on greater spend under management and to move beyond cost savings are on the … Read More