Often viewed as a necessary bureaucratic function by executives and departments, the procurement and sourcing function must be elevated and recognized for the value it contributes to the company.
In many companies, the buying process is broken down among teams by function leading to hidden costs, inefficiencies and elevated risks.
The buying process is more than supplier selection and contracting. Designing an efficient contracting and buying process aligned with corporate financial and risk policies allows a company to manage its cash, financial and other business requirements.
We help organizations develop and implement a procurement roadmap to improve supplier management, financial accuracy and supply chains.
Identifying suppliers, negotiating contracts and managing suppliers’ performance
Creation of efficient supplier onboarding, buying and payment processes aligned with corporate buying policies which maintain accountability for costs and risks
Integration of payment and accounting processes to support financial planning and analysis management
Building cohesion between supplier selection, contracting, policies, systems and reporting requirements supports strong cash flow and profitability. Easy to understand procurement policies empower teams to efficiently control spending, contract compliance and supplier management. Elimination of red tape inefficiencies allows teams to better use their time to understand the marketplace and develop productive supplier relationships.
Defined Procurement Operating Model and developed business plan to solicit CFO, CEO and executive approval. Documented staff costs, technology needs, metrics and other department requirements for business plan.
Defined procurement function for growing pre-commercial pharmaceutical company with 50% growth in operating expenses to meet critical drug development and product launch targets. Led assessment of procure-to-pay (P2P) process to define alignment between organizational responsibilities, policy, process, systems and metrics.
Improved Procure-to-Pay (P2P) labor productivity by for global medical device manufacturer. Worked with procurement and finance staff across global sites to streamline ERP process by automating common activities.
Supported Enterprise Risk Management Committee (ERMC); identified supply risks with potential to materially impact financial, compliance, operational and strategy goals; developed and prioritized solutions with ERMC to present to Executive Committee and Board of Directors.
Supply risk assessment to address price volatility and supply continuity needs for global excipient manufacturer by providing a comprehensive road map to improve sourcing strategy, procurement process and infrastructure systems to minimize supply risk and support ongoing global growth.
By leveraging digital tools for supplier onboarding, collaboration and payment, CFOs can improve financial visibility, identify cost-saving opportunities and make informed decisions to optimize financial
With ongoing global inflation, rising interest rates, changing work environment and growing supply chain risks, CFOs are looking for efficient ways to work with their
Great procurement teams provide credible insights on supply costs and risks along with valuable insight on sourcing and supply management options.
Supply risk is what could happen to the production of a product, contract packager or third-party logistics (3PL) system —and they are now just as
The truth supply chain managers must face is that although the COVID pandemic was unprecedented, the disruptions it caused are not. The pandemic merely exposed
As an emerging company, does your team have the framework and experience to manage suppliers during major disruptions?