| Description |
1 online resource |
| Note |
Includes index. |
| Summary |
"Procurement represents 50% of a business's costs. But traditional procurement processes are broken and ill-equipped to take advantage of the potential savings, and procurement teams aren't traditionally seen as integral to business success. Now that COVID has put a spotlight on the instability of existing procurement and supply chain practices, and cost-reduction is a key initiative for everyone right now, there is a window to remake procurement's role in the business. By rebuilding procurement teams to be cross-functional and integrating them earlier into every business process, businesses can halve costs while increasing supply chain resiliency. Reinventing Procurement gives the playbook for CEOs, COOs, CFOs, and CPOs to make their procurement teams a less siloed, more integral part of daily business--including how to plan the transformation, reskill the team, navigate change management, and ensure the impact on the bottom line"-- Provided by publisher |
| Contents |
Cover -- Title Page -- Copyright -- Contents -- Chapter 1: INTRODUCTION: Why Procurement, and Why Now? -- What Follows Is a True Story -- Procurement Is a Company's Number One Cost, Making It a Huge Profit Lever -- Why Is Procurement Not Optimized? -- Remit -- Mindset -- Vicious Cycle...and Opportunity -- The Birth of Strategic Sourcing-Dawn of a New Era...or Not? -- Bad Best Practice -- Why Now? -- About This Book -- Chapter 2: AMBITION: Ensuring You Are Set Up for Success -- A Dirty Procurement Word -- Walk, Then Run -- What to Aim For -- The function with no standing -- The function with traction -- The mature function -- Getting Buy-In -- Achieving Your Ambition: Customer Focus -- Chapter 3: SOURCING EXECUTION: Making Sure That the Engine Room Delivers -- Building the Baseline / "Profiling the Category" -- Conducting a Supply Market Analysis -- Drawing Up the Sourcing Strategy -- Executing an RFP Event -- Conducting Supplier Negotiations and Selection -- Sourcing Tools -- Savings Credibility -- Sourcing Gates -- Time with Stakeholders -- Program Management -- Execution -- After the Storm -- Sourcing Is the Engine Room -- Chapter 4: PEOPLE: Building a Winning Procurement Team -- Who Do We Need in Procurement? -- The CPO -- Today's Old School Procurement Skillset -- Tomorrow's Procurement Team -- Define success and align incentives -- Build a team of diverse skills -- Ensure the team is versatile -- Focus on execution -- Attraction and Retention of Talent -- Being Bold When Hiring -- Chapter 5: OPERATING MODEL: Making It Work in Practice -- Documenting the Future Model -- The Center-Led Approach -- The foundational layer -- The category layer -- Shifting from Reactive to Proactive -- Organic Growth to a Proactive Focus -- Step 1: Visibility of work -- Step 2: Start prioritizing -- Step 3: Build and maintain a hopper of opportunities. |
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Isn't This Just Agile? -- Chapter 6: CROSS-FUNCTIONAL CHANGE: Repositioning the Function as a True Partner -- Why Is Cross-Functional Change Management Important? -- Procurement Often Lacks the Required Skills and Mindset -- How Do We Do It Effectively? -- 1) You need to execute well and have good deliverables -- 2) You need to engage formally and meaningfully at all levels -- 3) You need to use effective stakeholder engagement skills -- 4) You need to exhibit a service mindset -- 5) You need to position yourself internally as a proactive dealmaker -- 6) You need to share credit, and help rather than take away -- 7) You need air cover -- Specific Functions -- What Can We Learn from the Consultants? -- Conclusion -- Chapter 7: SUPPLIERS: Engaging Effectively -- Supplier Management-The Traditional Approach -- The Strategic Supplier-a Competitive Advantage -- Shifting the Mindset -- Beware the RFP -- Chapter 8: NON-SAVINGS PRIORITIES: Balancing Your Objectives -- Is There More to Procurement than Savings? -- Consult the Business First -- The Procurement Balanced Scorecard -- Sustainability -- Supply chain risk and resilience -- Customer service levels and accessing innovation -- Sustainability -- Social sustainability -- Environmental sustainability -- Financial sustainability -- Get the Right Sustainability Key Performance Indicators -- Embarking on Your Sustainability Program -- Chapter 9: SAVINGS REALIZATION: Stemming the Leaks -- What Is a Saving? -- The Importance of Data and Baselining -- Savings Need to Be Delivered Before They Can Be Measured -- The CFO Needs to Be Procurement's Best Friend -- TINCSIBR -- It's All About Compliance -- Effective Budgeting -- Savings Leakage Points -- Key Steps to Stem the Leakage -- Chapter 10: TECHNOLOGY: Investing in and Adopting the Right Tools -- A Procurement Revolution That Hasn't Happened. |
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The Steam Powered Tesla -- Technology's Promise to Procurement -- Investing in Technology-the Fundamentals -- Own your data and don't over-configure! -- Visualize your data -- Manage your knowledge -- Technological Disruption Is Coming! -- Chapter 11: CONSULTANTS: Using Consultants in Procurement -- Why Use Consultants? -- How to Select the Right Consulting Partner -- How Should I Best Use the Consultants? -- How Do I Make Sure That I Get the Best Value from My Consultants? -- It's All About the People -- Weaning Yourself Off the Drug -- What Do We Do When It All Goes Horribly Wrong...or How to Avoid That Happening -- Chapter 12: PRIVATE EQUITY: Learning Lessons from PE -- Private Equity and Procurement -- Changing Attitudes -- So Why Are Procurement and PE Such a Good Match? -- 1) PE is all about value creation and EBITDA, a great fit with Procurement -- 2) PE "gets" the Procurement opportunity and creates a platform to deliver the potential -- 3) PE helps with speed and rigor of execution -- 4) Joint ownership creates the right incentives and behaviors -- 5) PE elevates Procurement to Executive Committee level, which facilitates cross-functionality -- 6) Leading PE funds drive Procurement as a structured program across their portfolios -- What Can Non-PE Learn from PE? -- Chapter 13: ROADMAP: Making a Concrete and Realistic Plan -- Transforming by Doing -- Putting the Plan Together -- Start by Talking to People...or Even Listening to People! -- 1) Procurement ambition and role -- 2) Functional improvement plan -- 3) Sourcing savings execution plan -- 4) Procurement investment business case -- 5) Program structure and governance -- Putting It All Together -- Getting It Bought Off -- Concluding Thoughts -- Chapter 14: CONCLUSION: Summary and Final Thoughts -- Procurement Is Not Rocket Science, but It's Difficult to Do It Right. |
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1) Procurement represents a huge untapped opportunity -- 2) You need to have a strong team that's appropriately organized -- 3) You have to drive a sourcing program and execute it well -- 4) Savings credibility is vital -- without it, you will fail -- 5) Stakeholder buy-in and cross-functional working is everything -- 6) You have to learn to walk before you can run -- 7) Technology is not the answer-it's only an enabler, and must be used judiciously -- Breaking Down Silos -- Acknowledgments -- About the Authors -- List of Acronyms -- Index -- EULA. |
| Subject |
Industrial procurement.
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Business logistics.
|
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Approvisionnement dans l'entreprise. |
|
Logistique (Organisation) |
|
Business logistics |
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Industrial procurement |
| Added Author |
Whatson, Simon, author.
|
|
Oliveira, Jose, author.
|
| Other Form: |
Print version: Klein, Alex (Author of Profit from procurement). Profit from procurement. Hoboken, New Jersey : Wiley, 2021 9781119784739 (DLC) 2021000246 |
| ISBN |
1119784913 |
|
9781119784982 (adobe pdf) |
|
1119784980 |
|
9781119784913 (electronic bk.) |
|
(hardback) |
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