Procurement Strategy

What can board games teach us about procurement?

GordonDonovan_100.jpgThere are several parallels between games and business strategy. Gordon Donovan (FCIPS), Group Director: Procurement and Supply, Epworth Healthcare, wonders what we could learn about procurement from games and, as such, takes a look around the world wide web to find out more.

Join us at Smart Procurement World Western Cape on 9 & 10 April to understand "procurement board games". Ian Russell (founder of Disrupting Consultancy, ex-CEO of BCX and a former CPO of Telkom, SABMiller and Absa) will discuss what procurement leaders should grasp now to become board-ready

10 procurement value creation ideas

DavidMillington_100.jpgHow can procurement create value beyond cost savings?

David Millington, Certified Supply Chain Professional, Next Level Purchasing Association, offers ten procurement value creation ideas in this month's SmartProcurement.

Join us at Smart Procurement World Western Cape on 9 & 10 April for a discussion on reaching true partnerships with strategic suppliers. Sanet Shepperson (Executive Head: Property and Procurement, Cell C) will facilitate a session on innovation and value creation in key supplier partnerships

4 reasons to get your whole business to do procurement

BorisShiklo_100.jpgHow do you achieve effective procurement − by affording all departments the opportunity to purchase directly? What are the risks of such an approach and how can you reduce such?

Most mid-sized and big businesses already have a dedicated department responsible for providing the company with everything from paper to spare parts for production-line repairs. So, why would you offer to involve other employees in the procurement process?

Boris Shiklo, CTO, ScienceSoft, explains how you may benefit from such an approach, what the risks are and how they can be mitigated.

Is not spending, a saving?

MiraRistovich_100.jpgBy Mira Ristovich, Founder of MRC, a consulting firm that assists with various end-to-end projects, and Senior Associate at Bespoke Group Africa, an organisation dedicated to the strategic procurement outsourcing of projects.

Two decades after I began my work in procurement (I was involved in business performance management and measurement prior to joining the procurement family), I can still remember how surprised I was to find that many business owners believed that not using an allocated budget meant that they were saving money.

Unfortunately, this kind of thinking still exists.

Is procurement more art than science?

PeterSmith_100.jpgAs we move towards a new decade, is the emphasis in the procurement world changing? Are we going to see a new age where the 'Art of Procurement' comes to the fore? Peter Smith, Chief Officer of Procurement Excellence and European Director, Public Spend Forum, deliberates the topic.

Planning procurement's response to the Millennial Generation

ChrisSawchuk_100.jpgThe Millennial Generation represents one of the greatest potential influences and challenges to managing talent in the next year or two.

Hackett's 2016 Procurement Key Issues study revealed that talent management remains one of the top-three critical or major areas of focus for virtually all procurement organisations. The two perennial favourites, category management and strategic sourcing, make up the other top focus areas.

Combined with the fact that most procurement organisations (especially those in Europe) continue to experience higher levels of staff churn and difficulty attracting great talent, organisations are targeting three specific areas to transform talent. They are:
1. Improving leadership skills
2. Honing business acumen
3. Building specialist procurement skills

"But can procurement cope with, and ultimately benefit from, the disruption brought into talent management by the Millennial Generation?", asks Chris Sawchuk, Principal and Global Procurement Advisory Practice Leader, The Hackett Group.

Free State welcomes Smart Procurement World

SPW_FS_100.jpgSmart Procurement World is bringing its regional conference to the Free State.

Partnering with the Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA) has enabled Smart Procurement World to take its procurement and supply chain indaba into its fourth South African province.

Since beginning in Gauteng in 2009, Smart Procurement World has extended into the Western Cape, KwaZulu-Natal and, on 19 March 2019, into the Free State.

Understanding the shape and cut of procurement organisations

ElainePorteous_100.jpgElaine Porteous clears up some common misconceptions about the ways in which procurement organisations can be structured as well as demystifies some of the associated jargon...

Starting a new job can be both stressful and exhilarating. The people are different, the location is strange and the way they work is peculiar to that enterprise. There may be a seven-level procurement organisation chart or a loose, undocumented reporting structure to be navigated. What is also daunting is the 'in-speak': specific terminology which may be like a foreign language to you. So, what do they mean?

The five rights of procurement

EmanAbouzeid_2_100.jpgThe primary task of procurement is to provide the 'right' inputs for an organisation's processes.

The 'right' inputs are traditionally described as follows:
- Inputs of the 'right quality'
- Delivered in the 'right quantity'
- To the 'right place'
- At the 'right time'
- For the 'right price'

These are often called the 'five rights' of procurement and supply.

Eman Abouzeid (CSCP, CIPS), a procurement and supply chain professional with global experience, unpacks why it is important to achieve the five rights.

The management of procurement value

SergiiDovgalenko_100.jpgIt 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 enablers of ROI does not sufficiently elaborate on the variety of value elements that can be unlocked.

A step towards introducing this new dimension of value elements is to develop a classification of different values.

A group of authors from Bain & Company, in their article The Elements of Value, has undertaken such an approach and built the Value Pyramid, which can be customised for procurement.

Sergii Dovgalenko (FCIPS), Head of Procurement, Etihad Airways, takes us through the process at a high level:

Procurement perspectives: exploring a more efficient procurement process

StephenBauld_100.jpgIf 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 spent to concentrate, initially, on conceptualising an overall proactive approach to the procurement function", says Stephen Bauld, a government procurement expert.

Your procurement resolution: don't settle for best-in-class

AlexSaric_100.jpgWhat 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.

Procurement predictions for 2019

LucyPatchett_100.jpgSupply Management's Lucy Patchett takes a look at some of the key trends for 2019...

Walk the talk: machine learning and big data for procurement analytics

SammeliSammalkorpi.jpegIn 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 performed by humans to machines.

As these great opportunities exist with a lot of buzz, the big question remains: how do we walk the talk? Sammeli Sammalkorpi, Co-founder of procurement analytics solutions provider Sievo, tries to answer this question.

Join us at Smart Procurement World in 2019! Our exciting theme this year is Walk the talk: high impact procurement. We will explore topics such as policy vs. impact, governance for results and delivering impact at board level.

Procurement must champion IoT or risk falling behind

Su-SanSit_100.jpgThe 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.

Perfecting the art of procurement? Learn from the masters

KevinDoran_100.jpgTo 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. This tangibly impacts the bottom line in a way that makes CEOs take note.

"Other companies can learn a lot from these masters", says Accenture Strategy's Kevin Doran, Managing Director: Global Procurement Practice Lead.


 

 

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