Why tap into your hidden asset - the procurement team?
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As a CEO or board member, it's not easy to determine which projects are worth pursuing amidst limited resources and heightened competition. Departments will undoubtedly come forward to defend their own projects, which can make it difficult to choose the best option for the company.?
There is an asset that you may have overlooked - your procurement team. They possess a wealth of knowledge and skill that can assist you in making informed decisions with a high return on investment and ensure your business is making responsible decisions too.?
Procurement professionals can provide invaluable input on supplier selection aligned with your corporate values, cost reduction strategies, and risk management. They can also help with contract management and negotiation, ensuring that you have the most favourable terms and conditions.?
Think about it this way - by leveraging your procurement team's expertise, you can enhance your corporate strategy and strengthen your relationships with key stakeholders. And it's not just about cost savings - a procurement-led approach can boost efficiency, select the right suppliers to support innovation and simply do business better and more responsibly.
Remember your procurement team is not just a cost centre, but a valuable asset to your business.
Let us know how your procurement team has helped you.