Thursday, 28 August 2014

The Secrets to Becoming a Highly Effective Procurement Team

Authored by Mickey North Rizza

Most procurement teams want to impact operating margin, returns and earnings-per-share, but very few (less than 7%) have the resources and plan in place to do it.

Steal a page from the winning playbooks of the procurement organizations that are driving financial performance and profitability today; here are a few secrets of success:

The procurement department can make a big impact on the success of the company by delivering financial performance that improves operating margins, returns and earnings-per-share every quarter.

But how does a procurement team achieve this? What distinguishes a highly effective procurement department from the rest? These secrets will help the purchasing team achieve profitability and growth that all members of the organization will enjoy.

Monday, 25 August 2014

Relationship Management - What's the objective?

Authored by Khalel Saki

In last week’s post ‘Partner or Vendor?’ Mickey emphasized the importance of developing a healthy long term relationship with suppliers by ensuring both parties have regular touch points as opposed to singular transactional based relationships. Having had the opportunity to work on site with a number of clients, I found that one of the most effective ways of building a healthier relationship and reaching that ‘partner’ status is to establish mutual short and long term objectives.

Thursday, 21 August 2014

Managing your Supplier Community

Having identified a category for savings facilities management in our last industry briefing on Discovering Opportunities through Spend Analysis, how do we manage the supplier base in this category effectively to ensure that we generate value, drive savings and build lasting effective relationships with key suppliers?

Monday, 18 August 2014

Partner or Vendor?

Authored by Mickey North Rizza

When I was a practitioner, one of my former companies hated the word “vendors” to discuss suppliers so much that if you used it, you were asked what circus vendor you meant (vendors were considered circus suppliers, not business suppliers.) And “partners” were considered your top 50 suppliers in the top right section of the Kraljic matrix. Today the world is composed of all sorts of suppliers and some of these suppliers are really partners to our business. It is important that we understand the difference between vendor and partner. Because it can make a substantial difference to the way we work with them, how they work with us and the joint value we both can bring our business.

Thursday, 14 August 2014

How Sustainable is your Procurement Department?

Authored by Negin Joharian

Sustainability helps many organizations eliminate waste, become more efficient and save money. With that in mind, every organization should consider the role procurement can play in contributing to its overall sustainability. By understanding the value of “Responsible Procurement” one can leverage this as a means of improving the organizations overall sustainability.

Monday, 11 August 2014

Decision Making – The Doers and the Thinkers

Authored by Raneem El Banna

Every battle has a winner, and in some instances the way the battle ends is very surprising. Over the years history has demonstrated the fall of great armies to unstructured troops. Guerrilla warfare has been adopted during many battles and on many occasions has proved to be successful, but why would great armies fall in the face of small unequipped groups? Is it the freedom of decision making inside these groups in contrast to the rigid structure of the armies that lead to their downfall?

Thursday, 7 August 2014

Generation Y: An Untouched Procurement Goldmine?

Authored by Claire Herbert

As my internship with Tejari's sister company BravoSolution comes to an end and the fear of going back to complete my final year of uni (and writing that dreaded economics dissertation) shifts ever closer to becoming a reality, I thought I would reflect on my time in procurement.

If you’d told me a year ago that I’d be working in the procurement industry, I probably wouldn’t have believed you. Why? It wasn’t something I knew much about, nor was it an industry I’d ever really considered pursuing a career in.

And that got me thinking... was I the only one who felt like this?

Monday, 4 August 2014

The Conflicting Priorities of the Modern Procurement Professional

Authored by Steven Low

2014 is not an easy year to be a Procurement Professional. Gone are the days of locking the meeting room door and not letting the poor supplier leave until you got what you wanted (did that ever happen?).

Nowadays, procurement is such a lever to the outside world – one which every organization needs to deal with to be successful. This has meant that you and your fellow professionals now have to comprehend and make sense of the most amazing amount of priorities, many of them conflicting.