Articles
Spend Visibility – Why Is It So Important?
It is crucial that organisations have clear visibility of what they are buying and how much they are spending. Yet few organisations have a good understanding of their spend visibility. For most organisations complex indirect spend categories pose an opportunity for...
5 Steps to Procurement Maturity
Follow our 5 steps to achieve Procurement MaturityWhat stage is your business at? Businesses experience common problems which occur at similar stages in their development on the road to maturity.Identifying where your business is in it’s development can help you to...
What is Tail Spend?
Tail Spend is a phrase that is commonly used to describe the spend that a company is making but not accounting for or managing strategically through the company’s procurement policy. Tail Spend falls outside of the main purchasing processes associated with the direct...
Procurement Challenges and how to manage them
In an increasingly complex environment Chief Procurement Officers have to face many procurement challenges. They can no longer focus purely on reducing costs and delivering goods and services: The role of procurement within organisations continues to expand so the...
The Challenges of Traditional Procurement Process
Traditional procurement processes can be characterised by manual and resource-intensive activities. Even where some automation is in place there can be unacceptable levels of manual transactions and activity to address exceptions, ad-hoc purchases or specific project...
Category based procurement
1: Introduction Category procurement is perhaps the most common break down for Procurement teams and certainly is the most focused on in terms of written articles. Often these articles are focused on specific categories and their respective challenges. It would be a...
5 steps for Procurement to impact on financial results
Introduction Procurement is a complex multidisciplinary team activity that crosses all areas of the business. The variables and complexities of purchasing products and services, from basic supplies through to strategic purchases, make Procurement a key resource within...
How is technology transforming global sourcing?
Does your business source products and services from global markets? If your company is sourcing goods and services internationally you could be reaping many benefits. These include access to cheap raw materials and products, tax breaks and reduced labour costs....
Project Based Procurement
1: Introduction Project-based procurement occurs when there is a specific project activity and goal. This may be a project that repeats at regular intervals or it may be a one-off project.The project could include volume purchases, small purchase volumes, standard...
5 pillars of effective supplier management
Introduction This article focuses on effective supplier management. The article is orientated towards indirect spend, however many of the principles apply to all spend categories. The five pillars of effective supplier management covered in this article are:1....