Do you see strategic procurement like a fiendishly-complex Rubik’s Cube — with too many moving parts to handle and master? If so, you’re probably not alone. But don’t give up.
As we discussed in our recent blog ‘Are you still on the dark side?’, strategic procurement is something you cannot crack on your own. It requires a Finance/Procurement alliance that’s led from the top. Chief Finance Officers must use their influence and join forces with their colleagues in Procurement. Unless all the parts are moving in harmony, nothing much works at all.
Unfortunately, the Impact of Strategic Procurement 2017 Survey found that this kind of close co-operation is lacking in around half of global enterprises, national companies, public sector agencies and not-for-profit organisations.
But what are the incentives for getting it right – and what are the returns you’d see soonest?
Look but don’t touch
Although many organisations admit they’re a long way from mastering strategic procurement, they can see the business benefits glinting in the light – tantalisingly close, but just out of reach.
Research found that almost 80% of organisations could recognise untapped opportunities for maximising efficiency through strategic procurement. In fact, 61% could see ‘many’ possibilities ahead of them. So where are those quick wins to be found?
