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Procurement Transformation Institute
Procurement Value Delivered
Issue 98, 27th Feb 2019
This Week's Highlight:



Procurex Ireland is one of the major highlights within the annual public procurement calendar, supporting innovation, collaboration, education and celebration over a single dedicated day.


 12th March  2020-RDS  Dublin:
 

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Procurement Picks

People:

Transformative Power of Procurement

External procurement spending is the single largest cost element for most companies and a crucial component of their value chains. But, many companies are failing to realize the powerful benefits that procurement can bring, according to a new study by A.T. Kearney.
Procurement spending, if conducted thoughtfully and analytically, represents a company's biggest opportunity to improve the bottom line and ultimately transform overall business performance.

A high-performing procurement function can help a company achieve its broader enterprise goals.

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Technology:
Barriers to Digital Procurement
Let’s look at the size of companies that are digitally transforming and those that aren’t — and let’s examine some of the barriers to digital procurement that leave businesses stuck with time-consuming and risky workflows.

Smaller companies typically don’t have the transaction volume or an existing ERP system that make the business case for upgrading their procurement and finance technology.
On the other end of the spectrum, companies at the enterprise level achieved that stature because they already have been upgrading their technology — maturing over the years so they can scale and grow their business.

 

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Knowledge:
Affordable and transparent.  HSE's new system for purchasing medicines to cost €1.3 billion.

THE HSE HAS issued a tender valued at €1.365 billion for its new “dynamic purchasing system” for medicines across the health service.
It has also set up a new team to work with hospitals to help them implement the system.
This new method of purchasing medicines for the health service will mean good quality products are available at affordable and transparent prices. It differs from a normal procurement process where a bidder is awarded a contract and that’s fixed for a number of years. Suppliers can join at any stage depending on the requirements at that time.

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Connect With Us!
 
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Process.
Supplier onboarding: Top 12 ways to speed up the process:

At many large enterprises, it can take 3-6 months to onboard a new supplier. This is because, as each new supplier adds multiple layers of risk (operational, reputational, data security and privacy, compliance, regulatory), several internal functions (e.g., procurement, legal, infosec, need to get involved to mitigate those risks. One prospective client told me recently, after a particularly painful supplier onboarding experience, that upon looking through her emails retroactively she realised she had interacted with 20 people, created eight separate artifacts and touched 15 unique systems to onboard a single supplier. 
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Sustainability:
Big brands double down on efforts to source deforestation-free palm oil.
Big brands have found themselves in the eye of a consumer storm over their use of palm oil ever since UK retailer Iceland launched its boycott at the end of 2018, borrowing an emotive ad from a Greenpeace campaign featuring a homeless orangutan, which went viral

Although booming demand from China, India and Indonesia itself for transport fuel is the main reason palm oil use is forecast to increase by up to sixfold by 2050, western brands with no-deforestation policies, including Unilever, Nestlé, Colgate-Palmolive and Mondelēz, have been in the firing line.

 

 

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Procurement Transformation Institute
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