It is now apparent that procurement can deliver an extensive value proposition in addition to traditional savings and compliance. Procurement has the potential to be a revenue centre, empower suppliers’ product innovation, manage risks, contribute to customer satisfaction and so much more. Traditional procurement strategy that pragmatically concentrates on return on investment (ROI) and the […]
The management of procurement value Read More »
If a municipality intends to explore the possibilities around effective and efficient procurement by adopting a more strategic approach, then it must place emphasis on taking proactive measures to improve the purchasing function. “It is not sufficient to rely on only those measures that would prevent things from going wrong; it would be time well
Procurement perspectives: exploring a more efficient procurement process Read More »
What better time to set and start tackling key objectives for 2019? Your New Year’s resolution should be to be better than best-in-class… “Achieving best-in-class performance won’t result in procurement becoming truly strategic and may actually hinder progress in the long term. So, don’t settle for best-in-class”, says Alex Saric, from source-to-pay suite provider Ivalua.
Your procurement resolution: don’t settle for best-in-class Read More »
Supply Management‘s Lucy Patchett takes a look at some of the key trends for 2019… Adaptability will be key to managing risk Procurement is operating in an uncertain environment, with negative impacts from Brexit, trade relations and general economic instability. Being ready to react to change efficiently will make all the difference. IHS Markit predicts
Procurement predictions for 2019 Read More »
In procurement analytics, there are two clear trends: 1. Data is the new oil. 2. Big data and advanced analytics, such as machine learning, deep learning and neural networks, definitely create new opportunities. The way we can automatically extract insights from vast amounts of data will both unearth new opportunities as well as move tasks
Walk the talk: machine learning and big data for procurement analytics Read More »
The procurement function will fall behind and suffer a wider skills gap if organisations do not proactively pilot the Internet of Things (IoT) technology, writes Supply Management‘s Su-San Sit. Robert Handfield, Executive Director at Supply Chain Resource Cooperative, notes that many procurement managers today are “frozen” when confronted with new technology and lacked the skills
Procurement must champion IoT or risk falling behind Read More »
To move your procurement organisation to the next level, it pays to learn from the masters… New research conducted by Accenture Strategy shows that a small group of procurement masters – defined as the top 10% of procurement organisations in terms of performance – are delivering a 15:1 return on investment (ROI) to their organisations.
Perfecting the art of procurement? Learn from the masters Read More »
Every business desires growth and success. They set targets to support the overall objectives of the GDP. However, it is natural to encounter many roadblocks along this journey and procurement is seen as an important area as it can block or support growth. Procurement analytics provider Robobai surveyed 250 procurement specialists and asked them what
6 reasons you’re still stuck in procurement 1.0 Read More »
The role of procurement extends far beyond the belief that procurement’s primary function is to obtain goods and services in response to internal needs. A world-class procurement process aims to optimise the whole process to create significant business value. Procurement optimisation leads to a number of benefits and adds remarkable value to your organisation as
Optimising the procurement process to boost efficiency Read More »
Countless studies have established that the C-suite and boards of directors want their supply chains to become fully-fledged business functions and with the ability to influence organisational objectives or in the case of private sector, profitability. We have been here before, but what has been tangible proof of “from backroom to boardroom, procurement goes strategic”?
