Increase the Influence of Procurement
Increase the Influence of Procurement on all the activities Procurement, Finance and the entire organisation must coordinate in order to achieve the ultimate goal of savings, efficiency and minimised risk.
Many procurement groups find it a tough battle to get their voice heard within their organisations: to create the case for Spend Control and promote an organisation-wide view of Spend Under management...
One that requires creating value from sourcing events, contract management, and preferred suppliers with active supplier development programmes and spend visibility. It also requires capturing value through purchasing controls and compliance and ensuring efficiency with which things are paid for.
This is an organisation-wide challenge that goes beyond the desk of the Procurement department.
The reality is Procurement is often involved too late in the purchase cycle, or not at all. In addition, the term ‘Spend Under Management’ is commonly used just by the Procurement department to measure and communicate their function’s impact on the organisation. The Procurement-centric view of Spend Under management is only half the story of what counts to the organisation as a whole.
Companies have a rather out-dated view of the concept of Spend Under Management and a more useful organisation-wide perspective, new criteria is needed. Maximum bottom-line results are achieved only when an organisation’s Spend Control processes are firing on all cylinders, with both the source-to-contract and purchase-to-pay processes operating effectively, efficiently, and most importantly, integrated with each other.
To be successful and achieve a high percentage of ‘Spend Under Management’ is an organisation wide effort. Like any important initiative, it requires management focus and commitment, a process to drive change, and continuous tracking of results that come out of that effort.
Date: Wednesday, 28 November
Location: The Law Society, 113 Chancery Lane, London, WC2A 1PL
Time: 09.30-12.30, including lunch and networking
Cost: Free to attend