The New ProcurementTM is a new standard of procurement excellence that fuels enterprise growth and delivers measurable earnings impact
Unlocking savings to drive innovation and fuel growth
Today’s business demands a new standard for procurement…
- One that doesn’t just address office supplies and MRO but all of your spend on a global basis.
- One that never force-fits a standard sourcing process onto diverse businesses, but that leverages the appropriate sourcing strategy and applies relevant strategic knowledge for each unique part of your business.
- One that doesn’t deploy a handful of sourcing generalists across complex and diverse spending categories, but that engages specialized category experts who understand the complexities of each unique supply market.
- One that isn’t satisfied with identifying potential savings and negotiating preferred supplier contracts, but that ensures that savings are realized and hit the bottom line and business value is achieved.
Principles of The New Procurement
Address 100% of spend globally
A global approach to address all types of spend - from large recurring to small, one-time purchases - across all business areas with the right strategies and expertise for the supply market.
Support Sustainability and Corporate Social Responsibility Objectives
Dedicated expertise and specialized tools help manage consumption, reduce environmental impact and waste, and meet supplier diversity goals while optimizing budgets.
Apply Real-time market intelligence
Global teams of dedicated category specialists bring real-time market intelligence and a deep understanding of stakeholder needs, provider alternatives and market dynamics to inform spending strategies and create an informational advantage.
Deliver realized savings and continuously optimize spend
Compliance is driven actively and realized savings are tracked. Item-level spend data is reconciled against negotiated terms and verified by Finance. Experts leverage performance data to drive continuous cost innovation and supplier performance improvements to deliver sustained results.
Enable agility and mitigate risk
Flexes to respond to constantly changing supply markets and mitigate disruptions in the supply chain by proactively and regularly monitoring industry trends, markets and suppliers to detect risks and opportunities. It is agile enough to respond quickly to changing circumstances, whether those be volume or supplier changes- all relationships must be structured so that they can be amended on short notice.
Supports the company’s broader growth strategies and objectives by driving and encouraging supplier product innovations in both how we buy and the outcomes we bring to stakeholders. The New Procurement also delivers savings that can be reinvested in innovation and support growth initiatives such as expansion into new markets and or Mergers & Acquisitions, by identifying savings synergies during due diligence and then ensuring that those savings are actually realized post-integration.