Procurement Best Practice Overview
Whilst most purchasing teams address Cost, Delivery and Quality, Procurement Best Practice takes these core requirements to new levels as well as accomplishing much more; applying strategic procurement, providing a robust new supplier selection process, controlling the introduction of new materials into the supply chain; tracing material to its source if something goes wrong; ensuring the purchased product is safe to purchase, process and sell; measuring supplier performance; developing suppliers and helping us all sleep at night by addressing supply chain security.
The key area’s addressed under Procurement Best Practice are:-
Many businesses employ “reactive procurement”, where buyers simply react to the needs of its internal customers with some pressure to reduce costs or some tactical procurement may take place which accomplishes short term gains.
Manage and develop the whole supply chain to reduce lead-times, improve on-time delivery, maintain product quality, minimise supply interruptions, lower costs and above all create a culture of continuous improvement throughout the supply chain; everyone striving to do better.
Procurement Best Practice, applied by a knowledgeable and professional Procurement Team should reduce costs, release cash and manage the currency risk.
To ensure uninterrupted supply of purchased product or service it is necessary to develop a secure and robust supplier base and to be aware of any potential bottlenecks.
To ensure uninterrupted supply of purchased product or service it is necessary to develop a secure and robust supplier base and to be aware of any potential bottlenecks.
To make maximum use of the purchasing power in the business we need an extensive purchasing toolbox and expert hands on the tools