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Why the Right Procurement andSupply Chain Professionals areCrucial for your Business
There is a traditional view of the procurement and supplychain (P&SC) function as spend-obsessed and constantly
watching the bottom line. But over the last 10 years, there hasbeen a noticeable change in this opinion, as this crucial areacontinues to add value to the business world. Here are thetop 10 reasons for having a team of strong procurement and
supply chain professionals in your business.
Having an effective team of
procurement and supply chain
professionals means that your
organisational processes and costs
will be easily controlled, which in
turn contributes to stability and
growth in your company.
Cost Control
Ensuring that your finance team are strongly aligned
with procurement, rather than at odds with them, will
mean stronger back office functions, which will
produce improved public performance to customers
and other stakeholders.
Financial Friends
Any cost saving that improved procurement processesmake can enable any saved money to be invested intoother budgets, which can assist with challenges such astalent acquisition, sales, marketing etc.
OrganisationalAdvantage
Having the right procurement and supply chain
professionals also ensures effective contract management,
which mitigates against risk or sudden loss of business.
Correct Contracts
Safe SupplyEffective management and regular
review of the company supply chain
safeguards against overspending
and unrealistic purchasing.
ClearCommunication
Communicating in your
supply chain that you
understand supplier needs
will help improve
relationships and create
smoother processes for the
business.
CompetitiveAdvantage
Efficient procurement and
supply chain management will
help to retain and increase a
competitive advantage as your
company delivers its products
and services faster than
anyone in the marketplace.
Not a BlockerThe most crucial thing to understand about the
procurement and supply chain function, both internally
and externally is that they must be seen as a partner to all,
not a blocker.
