There are two types of fast growing SMEs (Small & Medium Enterprises). The ones that have had a cash crunch, and the ones that WILL have a cash crunch. Growing fast requires money. Money to finance trade credit, money to hire more staff, money to invest in machinery and overheads. Money, money, money! It’s at […]
The Creative Procurement Process
Is “creative procurement” an oxymoron? Not at all! In fact, creativity plays a key role in many things we do every day. It’s just that most Procurement professionals don’t recognise it due to the tick-box process approach often adopted by the profession. But Procurement is not meant to be a tick-box exercise. As Procurement professionals, […]
Procurement Folks, “Think like business leaders! Create more value!”
Procurement functions are often accused of having their own agendas, and not properly understanding the business functions they are supposed to support. Every function in a company is in the business of creating business value, including Procurement. But what is “business value”? To some extent it depends on what the stakeholders’ priorities are. Stakeholders are […]
Develop Impactful Category Strategies the Easy Way!
These days most medium and large sized organisations have implemented the principles of Category Management, with varying degrees of success. Category Management is a process whereby external spend is categorised to align with supply markets. These categories are then managed similar to the way separate business areas would be managed. With appropriate category strategies, the […]
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