Call it wishful thinking: We concluded in September 2020 that the COVID-19 pandemic’s impact on procurement was over. We clearly saw that the 186 organisations we surveyed were back to their pre-pandemic priorities. Furthermore these organisations predicted for 2021 that supply risk mitigation would hardly play a role and that the clear focus would be on cost reduction.
Which of the Four Spend Levers should procurement teams utilise for the rest of 2021?
As a new CPO you need to make an impact. Fast. Ideally within 100 days. This is important to win trust. Trust from the wider business that procurement will be better this time round. Better, in the sense of being able to help the organisation deliver the strategic goals. An enabler, rather than a roadblock. A coach, not a police offer.
Procurement professionals have four spend levers in their toolbox. But which ones were mainly used to combat the impact of the COVID-19 recession? Read on to find that it was the more traditional negotiations that procurement turned to in 2020 and how to generate further savings in 2021.
Ever wondered where your next wave of procurement savings will come from? This video will tell you how to save an additional 122% using advanced spend levers such as Buy Cheaper, Buy Less and Buy Smarter.
Grosvenor’s procurement expert, Dr Stefan Gassner, outlines his findings from his latest procurement research project, the 2015 CPO Study.
The times when running a tender process yielded 20% of savings are over. Charlie and Tom explain how you should now turn your focus internally to leverage advanced spend levers such as Buy Cheaper, Buy Smarter and Buy Less.
Procurement teams across the country are chasing savings again to lead the recession recovery. So where will all these savings come from?
In my last article, Is there a pot of gold hidden in your procurement spend?, I mentioned that one of the goals of our 2018 Procurement Study was to unlock a set of indicators that could be used to identify which categories, supplier and contracts are likely to yield the greatest opportunities to reduce spend.
