Cost modelling is, of course, one of the levers that, when utilised correctly, by procurement can deliver the most impressive results. I remember speaking at length to former Royal Philips CPO Neil Deverill about how much he loved should-cost modelling, and how Jimmy Anklesaria of Anklesaria Group, and a should-cost guru, felt it was one of the profession’s secret weapons.
The ability of procurement to squeeze the same year-over-year cost savings out of the same categories and suppliers has diminished, and a more creative and comprehensive approach must be considered to engage financial and tax expertise to continue to drive benefits, according to a recent article.
The Indian Space Research Organisation's latest achievements prove just how far a few million dollars can go and could provide a valuable lesson in procurement and cost-effective engineering to us all.
Research conducted earlier this year into procurement operating models brought to light several worthy insights, but one in particular stood out for me and is particularly relevant to this argument – that the process of change in itself is just as powerful as the end result.
One of our members recently posed a question to the wider Procurement Leaders community: how successful do you find P&L savings, working capital management and supply base simplification as KPIs? And, if they aren’t good metrics, which are better?
Hosting events all over the world and talking to procurement executives from all industries and regions has given us a good perspective on what might lie over the horizon, from technology to unexpected growth opportunities and new roles.
So here’s six thoughts about 2013 for you to ponder.
A little while ago, I attended a roundtable event in London hosted by Business in the Community after Procurement Leaders was asked by the charity to support a new initiative it is promoting called The Access Pledge.
It doesn’t take long at a procurement conference in Asia before the subject of talent raises its head, and so it was in Singapore at the latest Procurement Leaders conference where Luc Broussaud delivered the first presentation of the day, ‘Successfully attracting & retaining the talent pool’.
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Tap into the global talent network with Procurement Leaders’ own jobs board and careers service “People in Procurement.”
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