The Chief Financial Officer has a significant role to part in the development and implementation of a strategic procurement philosophy. The functions that the procurement function performs – supplier management, sourcing and contract management – are often referred to as strategic procurement. However, by working in partnership with the procurement function, the CFO can better… Continue reading The role of the CFO in Strategic Procurement
As we are about to enter the final quarter of 2016, thoughts are probably turning to how you are going to achieve your numbers for the year. There is undoubtedly uncertainty in the markets at the moment and the economists seem to be divided as to what the year ahead will look like. However, your… Continue reading 5 areas to trim the fat in 2016
Can Procurement continue to operate as it has for many years? Can Procurement professionals continue to simply manage categories and focus all their attention on getting better deals from their supply chain? I believe that the answer to these two questions is the same – absolutely not! As the global economy sways in the wind… Continue reading Is Procurement as we know it, DEAD?
A key to competitive advantage Procurement process re-engineering brings better results and more savings for companies that seek to extend it to the entire procurement value chain rather than to their in-house procurement function. That essentially entails putting the whole procurement process under scrutiny, and moving from a large number of suppliers towards developing a… Continue reading A Collaborative Approach to Supply Chain Management Can Enhance Competitive Advantage
Are YOU subconsciously diluting the value that you deliver in your Company? The overwhelming reality is that you’re probably doing just that right now! It’s a fact that most procurement activity never maximises the value delivered to the bottom line. Do you agree? Why do you think that’s the case? Well it’s not because you’re… Continue reading How To Set Yourself Up For Procurement SUCCESS in 2016
“It’s all about the numbers.” This was the catchphrase of a CEO that I did some work with recently. He would explain that as a CEO of Private Equity backed business, he had to have absolute confidence in the numbers because if he failed to deliver them, he’d be out! “And I don’t miss my… Continue reading “It’s all about the numbers.” The 4 key numbers that all CxOs need to be aware of, but many aren’t!
Back in 2013, Nick Martindale published an article in Raconteur (Part of The Times newspaper) entitled “Top 5 Challenges Facing Purchasing – key trends are set to influence procurement over the next 12 months” Given that it is almost 2 years since this was published, I thought that it would be good to look back… Continue reading Top 5 challenges facing procurement
I have long held the belief that business can get significantly greater value from their procurement activities and by definition, their procurement teams. Historically, the profession has been driven by transactional behaviours, whether that is the number of procurement projects completed or the volume of tenders managed. More forward thinking procurement organisations have developed closer… Continue reading Building a dynamic new procurement profession
When looking for efficiencies and cost savings, the first place most companies tend to look is to their suppliers, working on the assumption that if we can negotiate better prices, then our costs will fall. Although this is certainly one lever that should be assessed, I believe in the old saying – “get your own… Continue reading Are you leaving ‘Money on the Table’ with your Procurement activities?