Business Focused Procurement Archives - Procurement Cube https://procurementcube.org/category/business-focused-procurement/ Passion for business Thu, 15 Dec 2022 16:59:44 +0000 en-GB hourly 1 https://wordpress.org/?v=6.7.1 https://i0.wp.com/procurementcube.org/wp-content/uploads/2019/07/cropped-ProCu-THICKER-All-Grey.jpg?fit=32%2C32&ssl=1 Business Focused Procurement Archives - Procurement Cube https://procurementcube.org/category/business-focused-procurement/ 32 32 193294611 A stepwise approach to improving ESG in the supply chain https://procurementcube.org/a-stepwise-approach-to-improving-esg-in-the-supply-chain/#utm_source=rss&utm_medium=rss&utm_campaign=a-stepwise-approach-to-improving-esg-in-the-supply-chain Wed, 14 Dec 2022 19:20:10 +0000 https://procurementcube.org/?p=2569 Environmental, social, and governance – or ESG for short – is a hot topic. In fact, it has been a hot topic for some time now. But lately it’s been getting even hotter. And there are a number of reasons for that. There’s a climate crisis unfolding, which has highlighted the urgency for all, including […]

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7 Surprising, but Effective, Steps to Achieving More Profitable Growth https://procurementcube.org/7-surprising-but-effective-steps-to-achieving-more-profitable-growth/#utm_source=rss&utm_medium=rss&utm_campaign=7-surprising-but-effective-steps-to-achieving-more-profitable-growth Wed, 23 Feb 2022 10:14:58 +0000 https://procurementcube.org/?p=2322 To become more profitable, you need to either increase your turnover, become more efficient & effective or lower total costs. Even better if you can do all three. And there is an, often overlooked, way Small and Medium Enterprises (SMEs) can achieve all three by simply focusing on improving one specific area of their businesses. […]

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How SMEs Can Prepare for a Merger https://procurementcube.org/how-smes-can-prepare-for-a-merger/#utm_source=rss&utm_medium=rss&utm_campaign=how-smes-can-prepare-for-a-merger Thu, 26 Aug 2021 13:37:43 +0000 https://procurementcube.org/?p=2236 You want your company to grow, and a merger can be a very effective way of achieving that goal. But the business world is littered with failed mergers. In fact, 50-70% of them fail. So, how can you prepare for a merge to give you the best chance of beating those odds? Read this article […]

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How to Use Financial Reports to Prepare for Supplier Negotiations https://procurementcube.org/how-to-use-financial-reports-to-prepare-for-supplier-negotiations/#utm_source=rss&utm_medium=rss&utm_campaign=how-to-use-financial-reports-to-prepare-for-supplier-negotiations Thu, 06 May 2021 20:27:58 +0000 https://procurementcube.org/?p=2176 When Warren Buffet looks for shares to invest in, he looks for companies with “durable competitive advantages”. As Procurement professionals, we are also concerned with performance and stability of suppliers. So, are there lessons to be learned from Warren’s approach? Most definitely, yes. Knowledge isn’t power, applied knowledge is power Eric Thomas That is true […]

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Building Business Resilience: How Procurement Plays a Critical Role https://procurementcube.org/building-business-resilience-how-procurement-plays-a-critical-role/#utm_source=rss&utm_medium=rss&utm_campaign=building-business-resilience-how-procurement-plays-a-critical-role Tue, 01 Dec 2020 21:29:08 +0000 https://procurementcube.org/?p=2063 Right now, the focus is very much on business resilience. And for good reason. COVID-19 has disrupted long and complex supply chains and Just-In-Time systems like never before. So, what can Procurement do to help build this “new” element of competitive advantage called “business resilience”? In my view, there are two key areas where the […]

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Has Procurement REALLY Evolved Beyond Saving Money? https://procurementcube.org/has-procurement-really-evolved-beyond-saving-money/#utm_source=rss&utm_medium=rss&utm_campaign=has-procurement-really-evolved-beyond-saving-money Mon, 05 Oct 2020 14:02:27 +0000 https://procurementcube.org/?p=2001 What is the purpose of Procurement? The old school purpose of procurement was to save and cut costs. But we are now in 2020, and for at least the past two decades, there has been much talk about the need for Procurement to re-evaluate its purpose and work with business leaders to develop category plans […]

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How Procurement Can Take a Strategic Approach That Inspires Stakeholders https://procurementcube.org/how-procurement-can-take-a-strategic-approach-that-inspires-stakeholders/#utm_source=rss&utm_medium=rss&utm_campaign=how-procurement-can-take-a-strategic-approach-that-inspires-stakeholders Tue, 01 Sep 2020 11:32:52 +0000 https://procurementcube.org/?p=1977 There’s often friction between Procurement and other functions. Stakeholders see an overemphasis on short-term savings as a threat, which destroys business value. Procurement should be more than an efficient tendering machine. And in many organisations Procurement started the journey towards a more strategic approach many years ago. Most teams, though, still have a long way […]

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3 Companies That Created Business Value by Digitising Their Supply Chains https://procurementcube.org/3-companies-that-created-business-value-by-digitising-their-supply-chains/#utm_source=rss&utm_medium=rss&utm_campaign=3-companies-that-created-business-value-by-digitising-their-supply-chains Thu, 13 Feb 2020 22:05:23 +0000 https://procurementcube.org/?p=1670 Businesses can achieve substantial growth through leveraging technology, and one of the ways they can do this is by digitising their supply chain. It’s important to recognise that the benefits of this are not just cost-savings, but digital supply chains have the ability to increase business value in a vast range of ways. Here are […]

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How the Procurement Function Creates Business Value When Companies Merge https://procurementcube.org/how-the-procurement-function-creates-business-value-when-companies-merge/#utm_source=rss&utm_medium=rss&utm_campaign=how-the-procurement-function-creates-business-value-when-companies-merge Mon, 23 Dec 2019 11:43:29 +0000 https://procurementcube.org/?p=1647 I’ve written previously about why mergers have become such a popular growth strategy, including how our Business Focused Procurement approach can be pivotal in ensuring you maximise on the available benefits. Now I’d like to focus on how an empowered procurement function can add business value in a corporate merger situation. Often an important objective […]

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3 Examples of Businesses Achieving Growth Through Corporate Social Responsibility https://procurementcube.org/3-examples-of-businesses-achieving-growth-through-corporate-social-responsibility/#utm_source=rss&utm_medium=rss&utm_campaign=3-examples-of-businesses-achieving-growth-through-corporate-social-responsibility Thu, 31 Oct 2019 16:37:14 +0000 https://procurementcube.org/?p=1630 Businesses are increasingly prioritising their corporate social responsibility, with many implementing a range of policies that benefit their employees, their supply chains, their customers and the environment. While it is said that these kinds of initiatives are becoming necessary for businesses to compete and survive, it obviously benefits the wider population and is mostly being […]

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