Well-managed and periodically-maintained offices and buildings empower organisations to function at their most efficient and effective level, aiding collaboration between end users and offering real added value to the real estate managers and developers. Continue reading Facilities Management: The magic key to boosting business productivity
Originally founded in 1989 as a project and cost management consultancy firm, FEBC hit the procurement sector of furniture, fixtures, and equipment (FF&E) in the 1990s with full force. Continue reading “FEBC: Perfection in procurement”
As the pace of business continues to accelerate, procurement has been recognized, and rightly so, as a fundamental business enabler and strategic function. Now it’s time for the next step. Continue reading “The Next Procurement Frontier? Reconciling Speed and Compliance”
Looking for a common thread between supply chains and procurement operations today can be challenging: As companies’ efforts reach global scale and incorporate complicated relationships between third parties, each one takes on its own unique characteristics. However, sourcing professionals must identify the hallmarks of success in the field if they want to ensure their own organizations end up on the right path. Continue reading “Tech Upgrades Delivering Procurement Efficiency Boosts”
here are many things that set world-class procurement organizations apart from their average-performing peers. It may be working closely with suppliers to drive innovation and manage risks, or perhaps it’s collaborating with senior management on strategic initiatives. Continue reading “What Sets World-Class Procurement Organizations Apart? Use of Digital Technology for One”
Two in-house built e-procurement and e-invoicing applications have helped the company save Rs 30 crore in the first year of its implementation says, Satyanarayana Kasturi, Essar Projects (India)’s GM & CIO – Projects Business Continue reading Essar Projects CIO’s e-procurement and e-invoicing applications saves Rs. 30 crore in the company
In Deloitte’s 2016 Global CPO Survey 2016 report, 74% of respondents stated cost reduction as their top priority in 2017. Also, 70% of the surveyed procurement executives cited indirect spend as a top focus for controlling and reducing costs.
Recent studies have found that indirect spend can account for up to 50% of a company’s purchases, and manufacturers specifically can spend 20% or more of their total revenue on indirect expenditures. It is clear the next profound impact area for procurement professionals is in accessing hidden and unexploited areas of indirect spend. Continue reading “New Ways to Achieve Unprecedented Savings on Indirect Spend”
Rebecca Karp is a principal of Sourcing Synergies, a procurement strategy company based in Chicago. You can reach her at email@example.com or follow her on Twitter @rebeccakarp.
Editor’s note: This is the first in a three-part series on digital disruption from a procurement professional’s perspective.
“Digital” is smoking hot for CPOs right now. “Disrupt” is the newest square on Corporate Buzzword Bingo.
As someone with a front-row seat to the inner workings of procurement teams, I don’t see it. I was dismayed at the lack of content on this topic on the agenda of the most recent ISM conference in Orlando.
All are way too quiet on the digital front in procurement. In the business environment today, the “why” of this inertia doesn’t matter. The need to do something, on the other hand, does.