Christian Moens, EquaTerra
Are you seeking an alternative to staff reductions as a means to achieving cost savings in procurement? As Chief Financial Officers (CFOs) are taking ever-greater responsibility for their procurement functions, there are real opportunities available to optimise efficiency both in terms of costs as well as quality of services.
In order to identify the opportunities and their scale, a thorough internal assessment should be conducted, giving careful consideration to how the procurement function is currently operating. Once the internal assessment is completed, the CFO should have an understanding of where the major cost saving opportunities are. But how can you turn these opportunities into savings that will hit the bottom line? The answer depends on your organisation’s internal transformation capability, which can be complimented through the use of procurement expertise in the market. For further information, see the recently published EquaTerra article on this subject. This presents CFOs with a step-by-step guide to realising the huge potential that procurement transformation can offer and should be of particular value to organisations lacking the size to sustain a dedicated chief procurement officer (CPO) – and who are seeking an alternative to staff reductions as a means to achieving savings.