The top 4 choices will be on the blog in a weeks time. We will then ask for a vote on the Number 1 discipline for Procurement to achieve value contribution excellence.
- Communication and change management to continuously improve and bring greater value contribution.
- Contributing savings that directly impacts earnings per share
- Contribution that improves Return on Asset (ROA) and Return on Invested Capital (ROIC)
- Employee talent and skills performance and bonuses tied to value contribution
- Enabling technology and lean collaborative business processes
- Leadership that encourages outside-in thinking, risk taking and sharing, collaboration and stakeholder engagement
- Managing spend such that at least 95% of spend is under management
- Operational savings through Innovation
- Procurement and/or Sourcing Center of Excellence
- Productivity improvements – greater spend under management, reduction in source to settle cycle times, lean processes, increase throughput and velocity
- Savings through Negotiation
- Savings and value contribution that improves Gross Margin
- Savings and value contribution that improves Operating Margin
- Strategic Procurement business plan and accountability to the business outcomes
- Supplier risk management process that can easily be modified for additional attributes such as financial, weather, geopolitical, strikes, catastrophic events, transportation lanes, etc.
- Supplier relationship management