It comes as little surprise to read in the news that consultants have found a lot of savings opportunities in business being squandered because various company functions are ignoring procurement rules and processes and going off on their own when it comes to buying supplies. It’s a problem that has existed to some degree since the first procurement professional tried to help the first pre-historic entrepreneur mass-produce the wheel.
Technology has actually been important to procurement transformation for more than two decades, and that importance continues to grow. Today, much of the buzz relates to so-called “big data,” as it should, since therein lies great potential for procurement to dramatically raise the value the function provides.
TBA. It’s not to indicate "to be announced," as is normally the case with those three letters. It’s for Total Benefits Analysis. Two news events of the last week illustrate the importance of the concept.
Insurance agent sits above procurement in best job list proving that perceptions of the function continue to remain low among the next generation. Now is the time to start thinking about how these perceptions can finally be broken down.
Without having done some of the work technical people in the company do, it’s hard to understand their challenges and pressures, and hard to convince them that you know what you are talking about when you give advice. Procurement needs a solution...
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