Procurement Management in 2020
In theory, the procurement management process includes justifying, sourcing of goods and services, ordering/ procuring, inspection and reconciliation.
If run poorly, it can result in high processing costs, maverick spend, lost or misplaced items, inefficient cycles, missed opportunities, a lack of innovation and uncontrolled or unforeseen costs. Additionally, the supplier relationships take a hit due to late payments, poor Supplier Relationship Management (SRM) and inefficient and ineffective dispute resolutions.
To prevent the loss of profit, effort and control, organisations need to integrate all procurement functions, control spend, track purchases and create an environment that enables growth. Indirect procurement outsourcing is an ideal way to go about this and to succeed with it off-the-payroll.
Outsource Indirect Procurement Management
Procuright provide well supported and well executed procurement management programmes to either fully manage the function or work alongside your current teams, including Procurement and/ or Finance personnel.
Our procurement management solutions, across areas of indirect spend, vary greatly (we pride ourselves on offering bespoke and flexible solutions to each client) but as a general rule include;
Our unique methodology to ensure your procurement management project is successful
We assess a company's situation and bring our experience, impartiality and cut through the clutter to see exactly what needs to be done. We then implement. We're hands-on and drive an end-to-end solution with a value based approach.
Our procurement management solutions are built from the ground-up to address your business requirements
We review, design, develop, and implement key category spend and procurement strategies for our clients. Our non-emotional processes deliver real savings and will stand up to any level of scrutiny and help you deliver the business case.
Your final procurement management strategy will be tailor made & well supported by our friendly team
So whether you have a procurement function or approach that needs reviewing and improving, or have nothing formalised to date, we can support you with best practice advice and most importantly, implementation that results in real value and cost reduction.
20 Procurement Management Benefits in 2020
A well supported and well executed procurement management programme, should form part of your overall procurement strategy and will result in;
Effective procurement management activities will improve efficiency and reduce costs. It also helps free up the time of team members. Outsourcing all or part of this function will allow the business to reap the benefits of procurement management across all areas of indirect spend.
This is where the team at Procuright comes in. Imagine how much easier it would be to deal with all issues relating to your suppliers, all in one place. This includes the screening and on boarding of new suppliers, as well as monitoring performance and contract management.
"Effective procurement management activities will improve efficiency and reduce costs. It also helps free up the time of team members. Outsourcing all or part of this function will allow the business to reap the benefits of procurement management across all areas of indirect spend......................"